How the Swiss handle corporate fatcats

This from The Economist:

PUBLIC wrath at the widening gap between packages awarded to company bosses and the average citizen’s take-home pay resounded through Switzerland on March 3rd. Voters there overwhelmingly backed an initiative to give shareholders of Swiss listed companies a binding say on executive pay and an annual right to vet board appointments. Other sanctions would forbid the award to executives of severance packages, side contracts, and rewards for buying or selling company divisions. The penalty for infringements could be as much as three years in jail, or the forfeit of up to six years’ salary.

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We the People proposed Amendment

This proposed Constitutional Amendment from We the People Amendment is loaded with good ideas:

Section 1. [Artificial Entities Such as Corporations Do Not Have Constitutional Rights] The rights protected by the Constitution of the United States are the rights of natural persons only. Artificial entities established by the laws of any State, the United States, or any foreign state shall have no rights under this Constitution and are subject to regulation by the People, through Federal, State, or local law. The privileges of artificial entities shall be determined by the People, through Federal, State, or local law, and shall not be construed to be inherent or inalienable. Section 2. [Money is Not Free Speech] Federal, State, and local government shall regulate, limit, or prohibit contributions and expenditures, including a candidate's own contributions and expenditures, to ensure that all citizens, regardless of their economic status, have access to the political process, and that no person gains, as a result of their money, substantially more access or ability to influence in any way the election of any candidate for public office or any ballot measure. Federal, State, and local government shall require that any permissible contributions and expenditures be publicly disclosed. The judiciary shall not construe the spending of money to influence elections to be speech under the First Amendment.

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Iceland’s recipe: Let the banks fail

This article includes a video interview with the President of Iceland, who explains that part of Iceland's recovery from economic catastrophe was to allow the banks to fail.

In an impromptu interview with the Al Jazeera News Network’s Stephen Cole, Iceland’s President Olafur Ragnar Grimsson explains that his country was able to rebound from the worldwide financial crisis better than all other countries that faced the same problems, by doing just that, allowing the failing banks to go bankrupt.

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Now to make the democracy actually work

Many Americans I know assume that voting is the only method by which they participate in their government. This is incorrect. As Howard Zinn stated, "Voting is easy and marginally useful, but it is a poor substitute for democracy, which requires direct action by concerned citizens." ["Election Madness" The Progressive (March 2008)] Politicians are highly susceptible to pressure asserted by social movements and by corporate power. If social movements are weak or non-existent, politicians will fall completely into the arms of corporations. Exhibit A is the rapacious yet mostly legal conduct of Wall Street banks over the past decade. Amy Goodman raised this point of the need for ordinary citizens to get involved in social movements to keep pressure on the president in a recent article at Common Dreams:

Someone asked [Barack Obama] what he would do about the Middle East. He answered with a story about the legendary 20th-century organizer A. Philip Randolph meeting with President Franklin Delano Roosevelt. Randolph described to FDR the condition of black people in America, the condition of working people. Reportedly, FDR listened intently, then replied: “I agree with everything you have said. Now, make me do it.” That was the message Obama repeated. There you have it. Make him do it. You’ve got an invitation from the president himself. For years during the Bush administration, people felt they were hitting their heads against a brick wall. With the first election of President Obama, the wall had become a door, but it was only open a crack. The question was, Would it be kicked open or slammed shut? That is not up to that one person in the White House, no matter how powerful. That is the work of movements.

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Looking Forward?

As usual, Florida is still undecided, a mess. According to NPR, though, it is leaning heavily toward Obama, despite the shenanigans of the state GOP in suppressing the vote. I didn’t watch last night. Couldn’t. We went to bed early. But then Donna got up around midnight and woke me by a whoop of joy that I briefly mistook for anguish. To my small surprise and relief, Obama won. I will not miss the constant electioneering, the radio ads, the tv spots, the slick mailers. I will not miss keeping still in mixed groups about my politics (something I am not good at, but this election cycle it feels more like holy war than an election). I will not miss wincing every time some politician opens his or her mouth and nonsense spills out. (This is, of course, normal, but during presidential years it feels much, much worse.) I will not miss… Anyway, the election came out partially the way I expected, in those moments when I felt calm enough to think rationally. Rationality seemed in short supply this year and mine was sorely tasked. So now, I sit here sorting through my reactions, trying to come up with something cogent to say. I am disappointed the House is still Republican, but it seems a number of the Tea Party robots from 2010 lost their seats, so maybe the temperature in chambers will drop a degree or two and some business may get done. Gary Johnson, running as a Libertarian, pulled 350,000 votes as of nine last night. Jill Stein, the Green Party candidate, got around 100,000. (Randall Terry received 8700 votes, a fact that both reassures me and gives me shivers—there are people who will actually vote for him?) Combined, the independent candidates made virtually no difference nationally. Which is a shame, really. I’ve read both Stein’s and Johnson’s platforms and both of them are willing to address the problems in the system. Johnson is the least realistic of the two and I like a lot of the Green Party platform. More . . .

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