The federal government and economic institutions must become more transparent and accountable to the American people.
For too long, American financial institutions were allowed to take advantage of consumers and investors with double talk and misleading terms hidden in the long, complex fine print of credit cards and mortgages. Open competition requires that customers have all the facts, laid out in clear, plain language so that consumers can compare choices within the marketplace.
Trillions of dollars were gambled away from plain sight in "derivative" markets that do nothing to inject money into the economy. They hide corporate losses off of their balance sheets. They offer insurance policies but fail to disclose they don't have the money to make good on claims. These risky secret schemes nearly destroyed the U.S. economy, and they must be brought out into the daylight.
Government must also become more transparent so that citizens have the opportunity to evaluate elected officials and bureaucracies and hold them accountable. Government spending should be public record across all government agencies, not just a select few. Earmark requests should be available for the public to evaluate before bills are voted on in Congress.