Issue Position: Financial System Reform

Issue Position

The most flagrant violation of the public trust is our government's tolerance (and even facilitation) of the financial industry's utter disregard for the rule of law. Those responsible for the most devastating wave of fraud in human history have not only gone unpunished for their crimes, but the American taxpayer has been forced to bend over backwards to save the Too Big Too Fail (TBTF) banks from their own misdeeds. To this day, Americans are suffering usurious interest rates and being illegally foreclosed upon, all while we're still propping up a financial system that is insolvent, and the biggest banks are only growing bigger.

The truth is simple and undeniable. TBTF is Too Big Too Exist.

If elected, I will do everything in my power to ensure that the financial industry no longer threatens the health of the American economy. I propose:

Firstly recognizing that I alone will not be able to legislate financial system accountability, I will go to Washington and light a fire under the Justice department and other regulatory authorities to enforce the laws on the books. From Sarbanes-Oxley, to insider trading and control fraud, to RICO (Racketeer Influenced and Corrupt Organizations) violations, there are numerous ways that justice can be served without legislative reform.

Nevertheless, real financial regulation legislation does need to be passed. I will work with other independent minded Congresspeople to restore Glass-Steagall, reduce the size of the big banks, make derivatives safe, and shift the accountability of the Federal Reserve from the banking system to the public.
Promote smaller community banks and make it easier for states to establish State Banks

The goal of these policies is to return the financial industry to the economic utility that it should rightly be and bring to an end the destructive casino it has become. Without such reform, the economy will continue to struggle under the load of this parasitic industry.

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