Martin O'Malley
Related: About this forum'I've received thousands of comments and feedback on my letter to Wall Street.
From Pennsylvania, to California, to Kansas, Missouri, and Iowaeveryone agrees, we must implement significant structural and accountability reforms of megabanks to prevent another economic crash and protect hard-working families from losing their jobs, homes, and life savings once again.
Add your voice to the letter. On July 23rd, I'll bring your comments with me as I make a major speech on this policy plan: http://omly.us/1HQCWKV
https://www.facebook.com/MartinOMalley
lovemydog
(11,833 posts)All of this explains why, when laws are broken, you and your institutions get off with nothing more than a slap on the wristfines paid by shareholders that you can write off as nothing more than business expenses. No admission of guilt, no one faces jail time, everybody keeps their jobs back to bonuses as usual.
As President, I would end this double standard of justice. It is bad for our economy, and it is bad for our country.
A strong American economy depends on a strong, financial industry that plays by the rules. And among the greatest victims of your megabanks have been the thousands of community banks that are the backbone of our economy. These banks provide the financing for the American Dream of homes, businesses, educations, and secure retirements. Yet theyre forced to compete on an un-level playing fieldone where they bear the brunt of declining credit and wagesand where megabanks are rewarded with subsidies and bailouts.
So heres the bad newsfor you: As President, I have no plans to let up on you. Ill work tirelessly to eliminate the unique danger posed by the handful of too-big-to-fail banks. And while Im doing that, Ill finally bring real enforcement and oversight to the federal governmentto agencies and departments like the Department of Justice, Securities and Exchange Commission, Federal Reserve, Commodity Futures Trading Commissionso that they start doing the job the American people expect them to do and stop sitting on their hands.
He said he's giving a major policy speech July 23 to discuss this in detail. I look forward to seeing the entire speech. I know the great folks here in this group will post it here. Thank you folks.