The Fed, career politicians and the IRS, with their 60+thousand tax codes which mainly serve the wealthy. The IRS targets are mainly blue collar workers.
If the Obama admin really wanted to cut down on corporate corruption and market manilpulation without stepping on all the toes of attorneys, he along with Congress, and the SEC only need to do 2 things.
1. Eliminate "Stock/Stock Options" as the means for compensation, and any filings that are associated with them, to include S+8's. No founder/partner, and key executives within a public company should receive even one more share than their controlling shares after they've become public, and these should remain restricted until the company is sold. Their comp should be payed from generated revenues, like any private enterprise, and if they cannot generate revenues they don't get paid "like any private enterprise". If they want to own stock or options they should have to buy these on the open market like anyone else.
2. Ban/Eliminate all forms of short selling, Options Trading is already available, and this in itself does enough damage to peoples portfolios. Shortselling in itself is nothing more than stock manipulation, and one of the major culprits of market corruption, and it can lead into a means to an end for even senior companies, part 1 for the cashing in on these CDO's, part 2 thru this so called CDS insurance.......... AIG is wrapped up in approx $440b in these derivatives, the govt bailout so far is $175b that it "invested"????? in a 1 billion dollar corporation. Shorting can destroy the smallest to the largest corporations with over 10,000 hedgies in the Caymans are particpating, or a group of them target a particular company in a matter of days, as we have all witnessed.
If these things don't occur Obama changing business as usual for Wall Street, corporations, and for lobbyist is nothing more than rhetoric................This would be a place to start, then on to what to do with the Caymans, and the 52000 people who shifted their profits from hedgies or Caymans via the UBS Bank of Switzerland.
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