Comment Text:
Submitter Info:
First Name: Sheila
Last Name: Waddell
City: Flint
Country: United States
State or Province: MI
Shadow banking should never exist. Its just a way to conceal property belonging to someone else; dark pools of liquidity and non-directed trading. It's time for simplicity; not complexity. This type of behavior erodes trust and confidence in our fiduciaries; those that are supposed to protect that which we have entrusted to them. It's time for those who have attained wealth by ill-gain and self dealing to pay their share of taxes. Lobbyists are designed for the benefit of big corporations. There should be disclosure as to their congressional associations so Americans can make an informed decision as to how they vote. There exists too many tiers of investment participants that are unregulated. Stringent regulation and oversight should be implemented as a deterrent to fraud and less than arms length transactions. Too much has been lost as a result of unethical behavior. Americans have paid dearly; and are still reeling from the effects. Corporate CEO's are undeserving of their compensation because they have not exercised prudence and due diligence. It's the only job I know that rewards undue and draconian influence. They have been poor stewards, as too have Congress, of the assets they were supposed to keep safe and to invest for growth. I'd say that Congress and Big Corporations have long been partners.
