I’ve wrestled with this for many years. I happen to wholly disagree with the Supreme Court that corporations are people. I am for term limits, vastly shorter campaign seasons and vastly less government/corporate nuzzling.
The feds needs to make laws to govern people and businesses. Businesses need to have a say in those laws, yes, but they shouldn’t MAKE those laws. let alone BUY those laws. Internal policing would work, but it will still become gray with collusion and whatnot. We, the schlubs, need to have some protection against not only government, but from gigantor corporations as well.
I like your idea - but how do we achieve true transparency? I think it’s doable - with REAL penalties for malfeasance. Even if those penalties hurt the consumers, after 50 years of pain, maybe we can move forward with this crap.
Have you ever heard an economist say, "They have never had a profit but they are a very successful company."?
Do you own any retirement investments?
Now we have your head in the right spot.
The feds needs to make laws to govern people and businesses.
I agree. Let's name them. I'll start. Thou shalt not steal. Thou shall not murder. Thou shall pay taxes. Businesses shall not torture workers with whips, fire or oil.....It goes down from there. They are already "making laws" because of YOUR behavior. You anti-seatbelt, helmetless, smoking motorcycle rider with a child in your lap while eating a saturated fat soaked cheeseburger.
Businesses need to have a say in those laws, yes, but they shouldn’t MAKE those laws.
The fed just passed a law that would limit what lenders could charge their clients for the privilege of providing immediate liquidity on credited expenditures from consumers. In other words, the fed, on the advice of BIG BOX RETAIL, decided instead of $.49/charge the banks could only charge $.25/charge (don't recall the exacts) per debit card transaction. Guess what! This cost the banks (which aren't people), and their investors, hundreds of millions of dollars.
Do you think the investors are going to tell the Board of Directors and CEO, "That's ok. I don't mind if my retirement account loses 10% of its value for the next 5 consecutive years until we can adjust the projections."?
No. See, its the investors that said, "Mr. CEO, this isn't good. How did you let this happen and how are you going to make sure I get the return on my investment that you projected? Figure it out or your fired." They have to find the revenue or cut gobs of costs. We either downsize and cut overhead or we increase fees or else be tarred and feathered by the owners (investors).
What would you do Mr. Big Bank CEO?
If I were on the board, I would ask you why you were not more instrumental in stopping this BS legislation that Durbin got passed. "Did you fall asleep at the wheel? Where is our lobbyist?"
Notice, the bank had nothing to do with it and it the bank will not lose a dime. One way or another, consumers pick up the tab.
Next....
We, the schlubs, need to have some protection against not only government, but from gigantor corporations as well.
We do. We spend the money and we vote. If the election process weren't so obscured with money donations and media corruptions; If we had faith in consumer reporting and honest corporations, the American public would do fine to pick winners and losers.
How do we do it?
Think about the mechanic you go to. How about the barber? Do you have a favorite restaurant? Why?
There is your answer.
My answer is to largely deregulate a whole bunch of business starting wit the banks. $hitcan Freddie and Fannie and outlaw bailouts (I mean follow the constitution). Let losers fail and tell them they are on their own.
Only prosecute collusion and price fixing. Only regulate safety testing (not standards).
Stop taxing "businesses" all together. There is no point. Businesses collect taxes they don't pay them. They are a pass thru. Raise EVERYONE'S taxes by the revenue lost (sit back and watch that firestorm as people start to realize what taxes really are.).