Thank you to the person who asked me to post this.
One meme used to attack the movement, both in the press and on this website, is that there are no articulated, coherent demands coming from Occupy Wall Street. The OWS General Assembly is working on that and I would like to add input in that spirit. But in the mean time it is still being used to de-legitimize OWS. For example, on KO just now Sam Seder said the NPR ombudsman gave three reasons for its lack of coverage. One of them was no set of demands.
Before presenting my proposal, I would like to state an important principle. Although the American government has many deeply disturbing aspects (e.g. lack of action on climate change, participation in immoral wars, etc.), I believe the OWS demands should all be targeted to Wall Street. There is another major demonstration coming up soon in D.C. and it is better suited strategically and in terms of PR, to address those kinds of issues. OWS is not directed to the governmental puppets, but the puppet masters in the 1%. From the view of growing the movement and maintaining public sympathy, I believe this is the best approach.
My proposal for demands for the Occupy Wall Street movement:
1) Too big to fail equals too big to exist-- The rationale for surrendering hundreds of billions in aid to Wall Street was that not to do so would have resulted in incredible shock waves to the world economy. I don't believe the DOJ or Congress has done anything significant in anti-trust actions or otherwise to reduce the size and power of these extortionists. The people should demand that Wall Street participate in a re-structuring program so that no individual company is too big to fail. This could result in more competition and more choice and freedom for consumers and potentially avert further extortion.
Here's a link from Bernie Sanders on the too-big-to-exist issue:
http://sanders.senate.gov/legislation/issue/?id=C0CF73BA-FA3B-4EB0-995F-03230CB0CAB1The only governmental action I have found is *state* AGs who are suing because of the fraud committed by banks in mortgage foreclosures. I give a link at point three below.
2) Robust regulation of derivatives and other speculative financial instruments which led to the collapse-- Once again, I don't believe the DOJ or Congress has taken significant action. The people should demand that Wall Street participate in a voluntary compliance regime, monitored by economists, on financial instrument regulation.
Here is an interesting proposal to tax speculative financial instruments, such as the kind which led to the bailout.
http://www.citizenworks.org/admin/SST%20Summary.php3) Re-negotiation and relief for distressed mortgage holders;
As mentioned at point one above, the Attorneys General from many states are suing banks for fraud in mortgage foreclosures. Here's a relevant link on that initiative.
http://news.firedoglake.com/2011/09/22/kentucky-ag-conway-joins-growing-coalition-backing-schneiderman-on-foreclosure-fraud/4) Voluntary compliance with Glass-Steagall until its re-enactment by Congress; and
5) An apology to the American people for the Wall Street actions leading to the putative need for the bailout.
These remedies could be formalized in a settlement agreement which would include an arbitration clause for alleged violations of the agreement by signatory corporations.
Of course, the big boys will not agree to such conditions or any substantive proposal which addresses the corruption and mismanagement. Why should they? They're winning. That is why we need to occupy Wall Street.
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