Its been said many times that the ultra rich engineer crashes and that a crash is the primary means of becoming ultra rich. Whether that be the case or not the pain and chaos of a crash can be blunted by making the ultra rich pay for the effects. Doing so may also mean the next crash is forestalled and crashes decrease in frequency. Our prior laws which have been weakened by the billionaire class kept away crashes for 60 years. In the period before those laws were enacted crashes occurred at regular intervals with predictable results. We need rules, systems and people that will ensure that billionaires can’t turn a crash into gain and that they absorb any losses and cannot turn those losses into gain. We need to recognize austerity as crime and prosecute it.
A solid step prior to the coming crash would be to re-instate and radically strengthen Glass Stegall which could amount to splitting a number of too big to fail banks, in order to make it harder for them to play games with depositor cash in the midst or a crash when the FDIC fails. We know that games with deposits spread panic. The little money on deposit is critical and it can’t be allowed to be manipulated in a crisis by financial criminals.
Another step post crash might be having the government simply cancel all consumer credit outstanding debt. Too bad, its a Jubilee day the billionaires and firms brought on themselves.
We can also simply get rid of the billionaire’s supposed wealth above a billion dollars- its not earned income its a ridiculous ornamentation and a massive waste of resourse, its really OPM. If someone wants to do something large, they can get other people involved to share in the risks and proceeds. We don’t need multi billionaires.
Ordinary people are job creators not billionaires.
We also must end oil, gas and coal subsidies. These fuels are no longer economically competitive and oil in particular is a massive strategic, economic and environmental risk and waste. Also help end our specuation here. Replace the subsidies with a carbon tax.
We will still need the amendment Move to Amend is working toward to get rid of democracy destroying nonsense like Citizens United and a hundred other bad Supreme Court decisions. We will need another amendment that puts the Supreme Court in its place, the framers never intended anything remotely close to its current power. Its ridiculous that our laws have been twisted so much that a law designed to protect citizens from discrimination means we can’t keep a McDonalds out of neighborhood.
The people who raided our pensions and brought us the 2008 crash and austerity are a group of criminals, we need laws that will treat them as such and protect us from the war they are waging on us. The same people brought us the phony military wars, and hollowed out our middle class and industry and took our safety net. Its time we recognize these people for what they are, criminals and psychopaths, and take away their access to power and take back what they took from us and make it so they can’t rise again even when future generations forget.
Its curious that even the case title Citizens v. United seems telling. Citizens like the Kochs didn’t want the people of a “more perfect union” uniting in collective action against their efforts to abuse the middle class or individual people who weren’t rich. That is the essence of it, they hate power sharing and want top down rule by money because they happen to have a lot of it at the moment and think they are entitled to it, that they earned it and that the relative wealth gap should be theirs and their direct descendants for ever. But the country was founded to destroy that idea or royalism and wipe if from the Earth. Its the vestige of slavery and the plantation this group is reviving, but the stakes are higher because of technology.