Should we reform the financial system?
Lets face it, very few people understand the complexities and language of it all, the laws and practices.The most notable effect of the current system, world-wide, would appear to be..the rich get richer, the rest can rot in hell.
As I see it, all these "financial instruments", shelf companies, multiple layers of ownership and administration, etc etc are just there to generate profit, for those at the top, and they serve no useful social purpose.
Corporate citizenship should go, it generates far too many bad decisions, and I can see no real harm in making those who decide accountable for the effects of those decisions.
Banks re-regulated, closely, we've seen where the current system leads now, and it's NOT healthy, for the general population.
Those are just my ideas, and I'm no economist, just a simple bloke who sees a problem, and wants a better world for his kids.

max i agree [the limeted liability was fine while we needed to create wealth[but the wealth in created now[the wealth creation has turned into loot and plunder[conducted by artificial corperations intent now on impoverishing those not under the protections of limited liability

if multinational companies can get liabiliuty [as well as 'human rights as a person[its time persons got limited liability,.as well[we have the absurd situation where an incorperation itself having defaulted can yet make real people homeless

[where money lenders all ready getting ursury and repayment of the primary principle... yet seize the whole cake for a 4000 credit card default..the heights of absurdity

as to who is driving this bus is a person[who does not, cannot ever own a bus, but forever is destined to live in one

Maximillion, men are driving the bus and the Icelandic solution is to turn the keys over to women.

A better solution is to achieve equity between women and men so the driver of whatever gender takes instruction from agreement between women and men.

Corporate management comprising decision-making by agreement between women's and men's committees overseen by governance conducted by agreement between women's and legislatures is the way to a better future for your kids.

Corporations would also achieve the useful social purpose of delivering equality between women and men.

Most thinkers knew these bad times would come.
In fact I believe many think much worse will come one day.
That in fact rampart capitalism will fail.
We can not however forget the growth from the start of the industrial period.
Capitalism and self interest drove that growth.
It too drove the greed and criminal acts that bought the economic crisis.
Without some risk there is no gain.
Credit is the very oil that drives capitalism and growth.
While to much freedom, too little accounting is bad too little is as bad, complex for sure.
No easy answers exist greed theft, crimes against investors must be punished but it is unlikely any time soon.
A criminal, robbing one bank could spend his/her life in prison, ten years at least.
Few who drove this crisis are even going to prison.

Makesamillion,I totally agree with your sentiments.What needs be done is the creation of awareness and get ordinary folk involved in the debate economics and social values.

The financial economy has become detached from the real economy.We have too many parasites feeding off us.What those in power have to realise is,when the host of real productivity dies,so do the parasites.

Maximillion
Bank managers had to be in prison for the curent financial crisis.
Hundrens of millions of labours lost their jobs worldwide, Millions of families will lose their homes, millions of children will be hungry, will stop school, will die from starvasion.
Banks and corporations have wanted more and more money, Only a god knows how many and how big bables they have created and sell them for gold!
We sent to prison a chhild for a chocolate and leave free or award the bank managers because the steal the international wealth, because they demolish the international economy!
Why political parties and governments close their eyes to the banks and bank managers? BECAUSE THEY KNOW THE DIRTIES FROM EACH POLITICAL PARTY AND GOVERNMENT.
Do you know how much cost an election campaign? hundrens of millions of dolars. Do you know how much are the costs from the offices and the staff from political parties? hundrens of millions of dolars.
Who pay this money? where they find all this money? We do not know but the banks know very well and they know and understand from this kind of dirty games, all their life pass with dirty games!
Banks and politicians, hand by hand, redistribute the national wealth in favour of corporations and rich people.
We need a modern, fair, logical financial system, we MUST reform the financial system but who will make the reforms? NO ONE!
POLITICIANS ARE CONTROLED FROM THE BANKS!
Antonios Symeonakis
Adelaide