2 giant stock market implosions in one decade- DRASTIC changes required to restore confidence.

[Phoebe Loosinhouse]

I think they might have really done it this time and killed the golden goose of American gullibility and credulity.

2 big crashes in the span of 10 years is just too much - crashes are supposed to be a once in a generation type thing in order to create the type of amnesia necessary to restore confidence in the markets.

How many Americans will switch their 401Ks over to the cash option in the near future? How many will decide that even the vaunted "match" isn't enough to keep them in the casino?

Specifically, what type of regulation is needed? I would :

**spend time on defining fiduciary responsibilities of boards and directors to limit executive compensation to some kind of rational metric along with complete and transparent disclosure of all accessory perks and bennies and costs thereof. I would require employee representation on the board.

** forbid the creation of secondary shell companies that are created in order to hide executive pensions and golden parachutes and protect them at a higher level than is given to rank and file employees. This happens more than you think.

** acknowledge that a social contract does exist and that American companies should make every effort to keep jobs in America or at the very least maintain American jobs to some percentage of those outsourced to third world sweatshops. I would remove any tax incentives that may exist that might reinforce the opposite behavior.

**Make uninvolved third party credit default swaps illegal.

**Do like REITS do and FORCE the payout of profits to be dispensed yearly TO THE SHAREHOLDERS in the form of dividends if not used for R&D or capital improvements or expansion or a cash on hand fund.

** Completely overhaul defined pensions, their funding and protections. Employees currently get screwed every time because the execs don't really care about bankruptcy and the Pension Benefit Guarantee Corp is no guarantee.

[Double T]

1. Until jobs return to America there will be NO REAL recovery.

Since outscourcing of jobs and factories continues, I see no recovery for many years or decades. The phony economy jig is up and america is broke.

[Demeter]

2. Ditto

[Phoebe Loosinhouse]

4. The phony economy whereby companies exist just to make investments

with company dollar as opposed to actually making something?

It really is about jobs, I couldn't agree with you more.

[Double T]

5. Consumers pay in REAL DOLLARS and not leveraged funds.

When the consumer loses his job he has no more dollars to spend and 70% of the US economy tanks. wall street and corporate america will never concede to that being the problem.

[KoKo]

3. Excellent list. Let's hope these reforms will be on the way sooner rather than later.