Saturday, October 8, 2011

Dear Occupy Wall Street: Focus on the People

We are at a pivotal moment in this country's history. Following one of the greatest rip-offs of American citizens by plutocrats and the elected officials that they own, both the Republican Party and the Democratic Party have demonstrated that they are compromised. We desperately need principled and uncompromised individuals in leadership positions in this country.

CWF has spent the past few years studying individuals, their motivations, their words, and their actions. The crisis was an opportunity in that we were treated to front-row-seats to witness just how corrupt many of our leaders are; as the financial tide went out and exposed the financial industry’s abominable behavior, politicians showed their true colors.

We were also treated to brutal honesty by many people - many of whom are listed on the CWF A-List. It is those honest few who have called out the real villains in this story. Here is who we need:


William K. Black

We will know that real change is taking place once Bill Black is put in charge of cleaning up the mess on Wall Street. There is no more qualified individual to do so, given the role he played following the Savings and Loan debacle, and what he has communicated since the crisis and the bailouts of individuals who committed enormous fraud. Bill Black must build the team that investigates the crimes that took place and then prosecutes those parties who broke the law. At the very top of Occupy Wall Street's demands should be that Bill Black be made a special prosecutor to take on the criminal enterprise that has strangled this country.

That will go a long way toward cleaning out the private interests that dominate our government, but it will not be nearly enough.

Barry Ritholtz

We need Barry Ritholtz to build a team to map out policy for our future. No one is more qualified than Ritholtz to analyze and address the the biggest issue that faces this country: money in politics. There is no gatekeeper now. Republicans and Democrats, to varying degrees, both exist to enable thievery by banks and related companies. Ritholtz's blog, The Big Picture, is what the White House website should look like. Ritholtz will probably not want to do it, but he knows what is at stake. We need a team headed by Barry Ritholtz to reintroduce capitalism to the United States.

Dylan Ratigan

Dylan Ratigan for Press Secretary. There is no greater public advocate of honesty in government than Dylan Ratigan. He is articulate, principled, and uncompromising in analyzing what we are facing and in articulating what we need. Given the volume of deception propagated by the talking heads in major media, we will need a strong voice like Ratigan's to beat back what will likely be an unrelenting and vicious attack on truth.

James Grant

Jim Grant for Fed Chairman. Few individuals on earth come close to the understanding and perspective that Jim Grant has for currency, economics, and finance. Grant's analysis is unparalleled. He too is uncompromising. We need Grant to start unraveling what the Fed has become. Grant must come up with a sustainable currency system that will serve our interests as a country and will help to keep politicians and bankers in check. We also need Jim Grant to establish a new culture of economic thought in government. It is time to confront the disastrous legacy of Alan Greenspan.

Many More

In addition to the above, we need a dream team of brilliant, visionary, uncompromising individuals to help return us to something closer to capitalism. CWF would advocate the involvement of the entire A-List.


Policy Goals:

CWF defers to the above to set goals, and to create policy to achieve those goals. Pending the work of the above, CWF suggests the following as a start:

1. Get money out of politics

2. Radical transparency

3. Elimination of the revolving door between industry, lobby groups, and government

4. Fairness, equity, and consistency in policy and governance

5. Elimination of TBTF

6. Mandatory skin-in-the-game for bankers, bondholders, and executives in finance and related industries

7. Removal of failed thinkers from positions of power

8. Elimination of the current corrupted tax code. Hyper-simplicity in taxation. No loopholes. Income tax paid directly from the source. If possible, elimination of the need for tax returns for most wage earners.

9. Diligent prosecution of white-collar criminals

10. Involvement in policy and governance of people who saw the crisis coming, and rejection of anyone who says it was impossible to predict

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