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The middle-class and the poor have been held hostage by the greed and recklessness of Wall Street. Corporate politicians have worked to loosen regulations on the nation’s largest and richest companies; all to the detriment of hard-working people in our country. Its time we take on the one percent dictatorship and make working folks a top priority.

 

Fighting corporate greed:

Introduce legislation to break up big banks and “too-big-to-fail institutions”.

Establish a 21st-Century Glass-Steagall Act ; which would:

Limit affiliations between an insured depository institution and any insurance company, securities entity, or swaps entity;

Restrict the authority of a national banking association to purchase or sell investment securities or stock, invest in certain structured or synthetic products, control or hold an interest in financial subsidiaries, or otherwise engage in non-banking activities;

Restrict the authority of a federal savings association to invest in, redeem, or hold shares or certificates issued by an open-end management investment company;

limit the authority of a financial holding company to engage in non-financial activities;

Disallow certain foreign banks from engaging in non-banking activities in the United States;

Repeal bankruptcy code provisions related to the contractual right to liquidate, terminate, or accelerate certain types of financial instruments; and

Establish various enforcement and penalty provisions.

Strengthen the Consumer Financial Protection Bureau.

Institute a speculation trading tax of 0.5 percent for stocks and 0.2 percent for bonds; which would cut back on computer-generated, high-speed trading that destabilizes the market.

Strengthen protections around the Dodd–Frank Wall Street Reform and Consumer Protection Act.

Establish legislation that bans the trading practice of student loan asset-backed securities (SLABS).

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