I want to personally thank Occupy Wall Street for its leadership and commitment to change.
My colleagues and I have met with ranking members of Congress, and ask that you consider 5 demands in addition to modifying the U.S. tax code, including:
5 demands Occupy Wall Street protesters should make:
1) Independent verification that the Federal Reserve, Department of the Treasury, Office of the Comptroller of Currency (OCC), FDIC, FHFA, FTC, NCUA, SEC and CFTC are ethical, effective and efficient banking and market regulators.
2) A public record system that discloses ethical breaches and conflicts of interest at all federal banking and market regulators, and includes, at a minimum, a) Ethics Code Certifications; b) Ethics Reporting; and, c) culture assessments on an ongoing basis.
3) FINRA and PCAOB subject to Freedom of Information Act, with absolutely NO exemptions.
4) A stock exchange that prohibits hedging, high frequency trading and short selling. The US Securities and Exchange Commission (SEC) and other US banking and market regulators lack the competence (Boston Consulting Group, 2011) to protect investors from fraud stemming from the abuse of hedging, high frequency trading and short selling.
5) Responsible fiscal and monetary policies.
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