Issue Position: Rebuild the Integrity of the Financial System

Issue Position

1. Divide the national banking system into an FDIC/NCUA-insured commercial banks and credit unions and an uninsured system of investment banks that would not have an implicit government bail-out promise and would not be permitted to trade in derivatives and other high-risk securities, nor use depositor's funds to trade in the bank's accounts (The "Volcker Rule").

2. Establish a quasi-public system for monitoring and insuring non-FDIC institutions without U.S. Government or Federal Reserve funds.

3. Require the investors of all commercial banks to provide at least 15% of the funds lent by the bank, consistent with the bill introduced by Senators Sherrod Brown (D-OH)) and David Vitter (R-LA) and helping to implement the Monetary Policy Report submitted to Congress the Federal Reserve on July 17, 2013.

4. Prevent another mortgage meltdown and stop allowing banks to cheat states of property transfer fees by abolishing direct "securitization" of mortgages and the Mortgage Electronic Registration System (MERS), replacing it with a system in which mortgage trust companies offer securities backed by the entire portfolio of the company.

5. Implement the proposal for reforming Money Market funds by the Securities and Exchange Commission (SEC).

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