We are facing huge long-term problems: a real unemployment rate of 18%, dysfunctional banks that are "too big to fail", a regressive tax structure that's stifling economic growth, prisons that are bursting at the seams, urban schools that are struggling, a health care system that still needs major reform, the lack of a coherent national energy policy that will protect our economy and the environment, and a government that has been encroaching on our civil liberties. For decades we have lived with irresponsible public policies from career politicians in Congress who care more about increasing their party’s power and getting re-elected than they care about solving long-term problems. They haven’t been honest with us, and they have been lousy public servants.
I’m different. I do not want to be a career politician. I am not a Democrat or a Republican. I’m a Problem Solver. I want to force members of Congress to be responsible, and implement sustainable solutions to real problems. Please read the positions I present on this website, and spread the word to friends and family.
Monday, March 15, 2010
John's reaction to Dodd's Regulatory Bill
It does do some good things, and is an improvement upon the November version (see "Too Big to Fail" on my website). However, it does not go nearly far enough. We should reinstate the Glass-Steagall Act, to separate most commercial and investment banking activities. And, after causing huge damage to our economy, and requiring huge amounts of taxpayer-funded bailouts, it's time to break up huge institutions like Morgan Stanley or Goldman Sachs into, say, five smaller (but still extremely large) institutions. Mr. Dodd says that "No legislation will stop the next crisis from coming." I do not agree. Stronger action to prevent entities from being "Too Big to Fail" can do the job. I would vote for Mr. Dodd's bill, but I would also fight hard for much stronger protections for us, the people.