“This is where corporate capitalism fails and it makes socialism bail it out.” – Ralph Nader

VIDEO Ralph Nader on Wall Street Bailout

Nader’s solutions:

1. Reinstitute comprehensive federal legislation of the financial industry

2. Empower shareholders, so that they have a say on risks the financial execs take and the salaries they give themselves

3. Full disclosure in terms of what people are asked to invest their money in

4. If asked to bail them out, we ask taxpayers should have an equity share if they recover (that’s what happened with Chrysler in 1979)

5. Have a security speculation tax and higher margin accounts (which creates more realistic speculation, and less risk taken with other people’s money)

6. Criminal prosecution of the crooks – this would also enable our prison system to improve since executives with power would create better conditions and food options

7. Private watchdog group