How do we evolve legacy finance?

[sweetheart]

Commoditized financial markets where information is common have
no opportunity for profit. The financial industry innovates products that are NOT bog standard
like stocks, so that they can trade in a grey area where information is select and not common.
This has over years been futures, options, swaps, and now more esoteric credit derivatives. And
with these complex legal aggreements between 2 institutions, drafted by private lawyers, the
entire financial system has become opaque as private capital has eschewed the incompetence of
public markets. (hint for democrats who like public regulated markets.)

So by drafting sarbanes oxley, the pukes have created an overly regulated market, and made all
public capital markets irrelevant at the same blow, no longer indicative of the dark-matter finance
that is vastly larger and unregulated entirely worldwide on a network of telephones, global
financial opinion and holdings inc.

One solution is to end corporate personhood, and with this change in status, corporate citizens
will cease to have the influence over the congress, and have themselves regulated by living
citizens who demand they behave.

Another solution is to make the federal reserve bank's open markets committee a publically elected
body, that the issuance of credit in the US be dictated by the public good.

Another solution is to form a "public bank of the USA" and bump the private federal reserve bank
from its incompetent monopoly.

When finance is too global, it does nobody a service. Capital is skittish, and instruments of investment
are fungible, easily replaceable for a better rate of return, and this sort of moment to moment jumping
of dollars, deters serious investment, as the short term market cuts the legs out of any strategic
development.

So whilst they can bilk profits out of a petrol econoomy whilst spending trillions of taxpayer credit
on a lost war, the war economy is profiting its new war barons.

The problem really, is that the US has always had economic central planning at an intensive level, under
the auspices of cold war competition, capital markets were tighly watched as agents of directed development,
and now the laizze faire market nuts have lost track of how a huge economic boom is orchestrated,
not by profits in a mosh pit on wall street, but in a boom for every common joe and jane.

We've been seriously let down by the US financial industry. It is antiquated, and were competition
allowed, would be wiped out completely by more retail-friendly european banks that do not take
any time to clear funds. That, in this day and age, settlement is not yet instantaneious is a
sign of the endemic corruption that is hoorah finance, virtual futures pits of screaming bellowing
apes shouting out so they don't have to work for a living, and you have to wonder how many slaves
it takes per person to keep an entire city on spreadsheets and telephones; like a noble pit,
wall street takes our best, brightest and smartest graduates, and lashes them to a hegemonic
approach that bankrupts their capability, tied to the wars of stupid, and no matter any DOW peak,
there's no hiding the pool of blood.