TED Conversations

Ryan Shavnore

This conversation is closed. Start a new conversation
or join one »

When will Wall Street be kicked out of politics?

Isn't it getting a bit ridiculous that Wall Street has too much of an impact in US Government? It seems more and more like Wall Street funds elections to candidates who will be puppets for the continuation of their political agenda. When will enough be enough?

0
Share:
progress indicator

  • Barry Palmer 50+

    • 0
    Sep 21 2012: When we the people pass an amendment to the constitution that limits what, and who can influence elections, and by how much. It is constitutional for foreign governments to indirectly affect our elections.

    My suggestion is that it be written with broad language and empower congress to define the details, perhaps with a super-majority vote of 60%. Democracy is only possible when each citizen has one vote. When corporations and anyone with a wad of cash can buy TV ads, plutocracy is the inevitable result.

    A second approach would be to use a commitment, signed by the candidate, that he/she would accept financial support only from her/his own electorate, and the amount of each contribution would be limited to $100 or less. Also, that the candidate would not seek or support any ads from outside sources in any way. If just one candidate could get elected after signing this commitment, people could demand it of other candidates. It just might catch on and spread.

    The internet permits people to see everything a candidate wants to say at extremely low cost. Democracy can work with very little funding needed for campaigning.

    If you do not like these ideas, you had better come up with some of your own. This is no longer a democracy, and it will not become a democracy until YOU do something about it.

    • John Smith 30+

      • 0
      Sep 22 2012: Yeah but "public election financing" is "socialist" and therefore evil, for god's sake man, they use it in Canada and Europe, don't you know how evil those places are?

      • Barry Palmer 50+

        • 0
        Sep 22 2012: There is no need to use government funds. Candidates can display their messages on the internet and all who are interested can see them, from their homes, the library, or other public facilities, at very little expense. This is more than sufficient to inform the electorate and make democracy work. Expensive TV and radio ads are not necessary. So instead of providing the candidates with millions, let us find a way to minimize campaign spending. The simplest way is to have the candidates do so themselves, voluntarily. It is up to the electorate to persuade the candidates that this is an effective way to get elected.

        We should have been listening to Ralph Nader, possibly the most effective and selfless public advocate in modern times. Stop voting for the major candidates; they have the same paymaster.

        • John Smith 30+

          • 0
          Sep 22 2012: "There is no need to use government funds. Candidates can display their messages on the internet and all who are interested can see them, from their homes, the library, or other public facilities, at very little expense."

          If you do that you have two choices: host a server with your messages on them (expensive) or put your messages on youtube and similar commercial websites (free, but those commercial websites can mess with the process, for example making it harder to find the videos of one candidate than of the other with a search query.) Neither will work very well if your goal is an inexpensive campaign.
  • thumb

    Krisztián Pintér 200+

    • 0
    TED Translator
    Sep 21 2012: as soon as politicians kick them out. so as soon as people stop voting for corrupt politicians.
  • thumb

    Gail . 50+

    • 0
    Sep 21 2012: When the economy fails - as it will sooner rather than later. Or, when people wake up.

  • Chris Cavalari

    • 0
    Sep 21 2012: It isn't only Wall Street. Everywhere in politics, money talks. If I owned an asphalt paving company in any town USA, and I contribute to your campaign for congressman in my district, I'm going to expect that when you sponsor a bill that has road construction as part of it, that if the bill gets passed, and paving gets done, my company is going to get the work.
    It's all very cosy. See Whitewater and the Clintons.
  • thumb

    Feyisayo Anjorin 50+

    • 0
    Sep 20 2012: Probably never. Even if there is no 'Wall Street' anymore, money/gold/materialism would still sneak in some other way to drive the system.

  • John Smith 30+

    • +1
    Sep 20 2012: The day Wall Street stops existing.
    • thumb

      David Hamilton 50+

      • +1
      Sep 21 2012: Or the day people stop being willing to work for their corporations.
Showing all 10 comments