The torpedoes from the Antitrust Division and the Federal Trade Commission are exploding, and Wall Street is very angry. Here's what they are planning if they win in 2024.
Corporate consolidation has gone too far and Americans need to slap Wall Street down. Here are several ways for Americans to bring back a regulated free market economy.
1. Nationalize our banking system. We are beyond trying to regulate the greed.
2. Nationalize the health insurance companies creating a national healthcare system for all. This will be the first step in reducing income inequality and stoping the transfer of wealth from the working class to the 1%.
3. Enforce the progressive tax rate that was originally passed into law.
4. Pass and enforce existing anti-trust laws.
5. Elect politicians that represent all American citizens not just the 1% and the politicians themselves.
This would be a good start. I welcome any further ideas readers would like to add.
1. Detach the regulatory body (FTC/DOJ) from political lobbying. Having a system where corporations can lobby politicians/party who can then decide on the leader of the regulatory body to keep corporations in check is a blatant flaw.
2. Judges need to be held accountable. Americans are well aware of this considering the notorious SCOTUS, but everything is useless if at the end of the day, a judge who's son works for the company or who has stock in the company does not step down and instead predictably greenlights corporate consolidation.
On Wall Street:
1. Remove pointless speculation. Ask the SEC to enforce very detailed data breakdowns of the industry and business. Hundreds of billions are changed everyday from gambling on how much marketshare Y company actually has and all of it can be eliminated by Y company being forced to disclose the data. Again the point of public capital markets is price efficiency and discovery.
2. Force fairer distribution of shares. Top 1% own like 50% of the stock, they are disproportionately benefiting from stocks versus workers who's salary is tied to actual revenue/profit.
3. Hold corporate execs as criminal for financial crimes and jail them.
4. Break Private Equitys leverage buyout business model. Should be made entirely illegal.
Thanks Matt. I hope all the followers on your thread read and digest your comments here. To save our nation voters need to realize the danger of not taking control of our economy away from the monopolistic power of corporations and the greedy rich.
I'm not sure a nationalized banking system brings us to a regulated free market economy. Are there any good examples of where a system like this has worked?
You can't regulate greed.. but I don't see why we can't regulate the greedy.. we just need good laws and competent regulators.
America’s original banking system was based on the English version where there was centralized control. This way someone was always watching over banks. Thanks to our congress in the early 80’s the banking system was deregulated. You can guess what followed. Lincoln savings in California lost $3 billion. Charles Ketting went to Jail. The savings and loan debacle happens with 5 US senators involved. Developers got rich and banks went bust. Plenty of info on the net. Bottom line, deregulation is a criminal act by the rich for power and control.
I would argue that MOST all legislators are ignoring their base on the issues of antitrust discussed here, some gun control, abortion etc etc. I will not vote for either D’s or R’s in the future as they have both gotten us to where we are. I am most upset about our spiraling debt situation. We need legislators with brains, values and gumption, and history says these people will emerge when things get bad enough. Continuing to do the same thing (elect D’s and r’s) and expecting different results is the definition of insanity.
I was wondering if you got my email about the frozen food delivery business. Also seeing real debate and diverging opinions in the Federalist Society is something to see. Props to Lina Kahn for actually going on stage and making her case for antitrust.
I am so pleased to read that there is talk of regulating social media companies as common carriers. I've been pining for the return of common carriage since the '90s. Back then I wanted Microsoft regulated as a common carrier with respect to Windows. Microsoft had a near monopoly over the PC operating system market, and an operating system seems -- in its relation to application software -- like a textbook example of a carrier.
The bankers gave money to family and friends. Bankers in cahoots with friendly developers funded funded real estate with little oversight. The real estate market got over built, sales dried up and the market crashed. My partner and I where developers that funded good projects that made financial sense. It took years to sell our inventory. We never did a new project. I left the business and started a company where I did not have to deal with banks.
Corporate consolidation has gone too far and Americans need to slap Wall Street down. Here are several ways for Americans to bring back a regulated free market economy.
1. Nationalize our banking system. We are beyond trying to regulate the greed.
2. Nationalize the health insurance companies creating a national healthcare system for all. This will be the first step in reducing income inequality and stoping the transfer of wealth from the working class to the 1%.
3. Enforce the progressive tax rate that was originally passed into law.
4. Pass and enforce existing anti-trust laws.
5. Elect politicians that represent all American citizens not just the 1% and the politicians themselves.
This would be a good start. I welcome any further ideas readers would like to add.
The number one thing you’re missing : elections financed by our taxes. Private donations by billionaires means our politicians are owned by them.
Mine would be:
1. Detach the regulatory body (FTC/DOJ) from political lobbying. Having a system where corporations can lobby politicians/party who can then decide on the leader of the regulatory body to keep corporations in check is a blatant flaw.
2. Judges need to be held accountable. Americans are well aware of this considering the notorious SCOTUS, but everything is useless if at the end of the day, a judge who's son works for the company or who has stock in the company does not step down and instead predictably greenlights corporate consolidation.
On Wall Street:
1. Remove pointless speculation. Ask the SEC to enforce very detailed data breakdowns of the industry and business. Hundreds of billions are changed everyday from gambling on how much marketshare Y company actually has and all of it can be eliminated by Y company being forced to disclose the data. Again the point of public capital markets is price efficiency and discovery.
2. Force fairer distribution of shares. Top 1% own like 50% of the stock, they are disproportionately benefiting from stocks versus workers who's salary is tied to actual revenue/profit.
3. Hold corporate execs as criminal for financial crimes and jail them.
4. Break Private Equitys leverage buyout business model. Should be made entirely illegal.
Thanks Matt. I hope all the followers on your thread read and digest your comments here. To save our nation voters need to realize the danger of not taking control of our economy away from the monopolistic power of corporations and the greedy rich.
I'm not sure a nationalized banking system brings us to a regulated free market economy. Are there any good examples of where a system like this has worked?
You can't regulate greed.. but I don't see why we can't regulate the greedy.. we just need good laws and competent regulators.
America’s original banking system was based on the English version where there was centralized control. This way someone was always watching over banks. Thanks to our congress in the early 80’s the banking system was deregulated. You can guess what followed. Lincoln savings in California lost $3 billion. Charles Ketting went to Jail. The savings and loan debacle happens with 5 US senators involved. Developers got rich and banks went bust. Plenty of info on the net. Bottom line, deregulation is a criminal act by the rich for power and control.
Just curious, which specific points of deregulation in the 80's do you think were big factors to cause the S&L crises?
Surprise! Surprise! GOP legislators ignore the will of their base.
I would argue that MOST all legislators are ignoring their base on the issues of antitrust discussed here, some gun control, abortion etc etc. I will not vote for either D’s or R’s in the future as they have both gotten us to where we are. I am most upset about our spiraling debt situation. We need legislators with brains, values and gumption, and history says these people will emerge when things get bad enough. Continuing to do the same thing (elect D’s and r’s) and expecting different results is the definition of insanity.
I was wondering if you got my email about the frozen food delivery business. Also seeing real debate and diverging opinions in the Federalist Society is something to see. Props to Lina Kahn for actually going on stage and making her case for antitrust.
I am so pleased to read that there is talk of regulating social media companies as common carriers. I've been pining for the return of common carriage since the '90s. Back then I wanted Microsoft regulated as a common carrier with respect to Windows. Microsoft had a near monopoly over the PC operating system market, and an operating system seems -- in its relation to application software -- like a textbook example of a carrier.
Are anti-trust laws are ever enforced anyway?
The bankers gave money to family and friends. Bankers in cahoots with friendly developers funded funded real estate with little oversight. The real estate market got over built, sales dried up and the market crashed. My partner and I where developers that funded good projects that made financial sense. It took years to sell our inventory. We never did a new project. I left the business and started a company where I did not have to deal with banks.