Financial Regulation

My Recommendations for Financial Market Reform:

Arrest Barney Frank and Chris Dodd

Repeal Dodd-Frank

Repeal Sarbanes-Oxley

Reinstitute  Glass–Steagall

Liquidate Fannie/Freddy

Investment Banks/Brokerages and Investment Management Companies may not be public corporations

The Federal Government, The US Treasury and the Federal Reserve Bank may not:

1. bail out Banks/Investment Banks Insurance Companies or Investment Funds
2. bail out Corporations
3. bail out Corporate Pension Funds on bankruptcy or liquidation
4. Reimburse or otherwise  Fund any State in excess of Federal Income taxes paid by citizens of the state

The role of the Federal Government should be to aggressively liquidate any public entity on insolvency while strictly enforcing legal creditor priority and contracts.

1. On bankruptcy or default no financial firm should be allowed to be reorganized in any form
1.  All C-level or Partner Level employees must leave the industry,
1. are banned from employment or other compensation by any Government entity
2. Corporate Board members must resign all Board Memberships (including non-profit)
1. are banned from employment or other compensation by any Government entity

Strictly Prohibit Federal Government from any form of Corporate Ownership, Investment holdings, Issuance of Insurance or Guarantee

1. Privatize PBGC and let it succeed or fail on its own

SEC role on corporate information

1. Incentivize Public Disclosure of all Corporate Information
1. All material information must be publicly disclosed within 24 hours

2. Crowd source credit ratings
3. Any security or investment transaction must be publicly disclosed including the identity of the buyer and seller and the price within 15 seconds of the transaction.