Matt Taibbi, the Rolling Stone columnist who has produced better coverage of Wall Street corruption and government collusion than just about anyone, has a list of suggested demands for the Occupy Wall Street movement; as you'd expect from Taibbi, they're informed, uncompromising, and bang on target:
1. Break up the monopolies. The so-called "Too Big to Fail" financial companies – now sometimes called by the more accurate term "Systemically Dangerous Institutions" – are a direct threat to national security. They are above the law and above market consequence, making them more dangerous and unaccountable than a thousand mafias combined. There are about 20 such firms in America, and they need to be dismantled; a good start would be to repeal the Gramm-Leach-Bliley Act and mandate the separation of insurance companies, investment banks and commercial banks.
2. Pay for your own bailouts. A tax of 0.1 percent on all trades of stocks and bonds and a 0.01 percent tax on all trades of derivatives would generate enough revenue to pay us back for the bailouts, and still have plenty left over to fight the deficits the banks claim to be so worried about. It would also deter the endless chase for instant profits through computerized insider-trading schemes like High Frequency Trading, and force Wall Street to go back to the job it's supposed to be doing, i.e., making sober investments in job-creating businesses and watching them grow.
3. No public money for private lobbying. A company that receives a public bailout should not be allowed to use the taxpayer's own money to lobby against him. You can either suck on the public teat or influence the next presidential race, but you can't do both. Butt out for once and let the people choose the next president and Congress.
(Image: Day 8 Occupy Wall Street September 24 2011 Shankbone, a Creative Commons Attribution (2.0) image from shankbone's photostream)
The Intercept publishes a previously-unseen set of Snowden docs detailing more than $500,000,000 worth of secret payments by the Japanese government to the NSA, in exchange for access to the NSA’s specialized surveillance capabilities, in likely contravention of Japanese privacy law (the secrecy of the program means that the legality was never debated, so no […]
Midge is a semi-disavowed character in the Barbieverse, created in 1963 to counter claims that Barbie was oversexualized; weirdly, in 1982, Mattel made the decision to release a version of the doll, who appeared to be a young teen, as a pregnant lady, with a detachable bump containing an articulated foetus.
What do “Bic for Her” pens, electric facial rejuvenation mask, and Trump: The Game have in common? They were all bizarre and ridiculous commercial products that tanked in the marketplace. This summer, the Museum of Failure will open in Helsingborg, Sweden to celebrate such bumbles and fumbles, along with other products that were bested by […]
Yeah, Bluetooth audio is pretty common these days, so why should you care about these earbuds? Look how happy that woman up above looks. She’s got FRESHeBUDS in. Boom. There’s your reason. She’s also at the beach and it appears to be a very nice day.But for the sake of promotion, wireless earbuds are fast becoming the […]
“Gets stuff done,” is a good way to be described by anybody. Especially by coworkers or bosses. Because whether you’re in finance or a children’s librarian, stuff needs to get done. But how do you make sure stuff gets done? You definitely can’t do all the stuff yourself, unless your company/organization/government office consists entirely of you. And […]
Even the most expensive pair of hi-fi headphones can’t match the feeling of bass rumbling through your body at a live show. That’s why music aficionados designed The Basslet, an accessory that reproduces that sensation from your wrist. Does it make your whole body shake with deep subs? Not really, because that would be terrifying, but […]