We will be continually promoting this concept that was brought to our attention from one of our readers – it is WE THE PEOPLE that will save this country.
Have you heard the term “limited purpose banking”? It is a very simple, efficient, and honest means of getting our financial system back on the track of preserving YOUR money. The concept? All financial institutions change to operate strictly as “pass-through mutual-fund companies”(Bloomberg, 2010), where the investments can lost value, but the funds themselves can never fail. Details about mutual-fund securities would be disclosed in real-time (giving the market valuable information to be able to make purchasing decisions). This would also replace 115 federal and state financial regulatory bodies with ONE “Federal Financial Administration” to oversee limited-purpose-banking funds.
Create transparency, eliminate bureaucracy, and let the free-market work. That is what I call smart and sustainable solutions to our banking industry. Read more about it HERE.
– Tisha Casida