Our Political Action Committee firmly believes in the principles of capitalism, and as such, we view any attack on CEO and executive compensation as an assault on the essence of this economic system. The trend of criticizing the wealthy and successful in society is seen as counterproductive. We advocate for a focus on personal development and advancement rather than attempting to undermine those who have achieved success and are living the American dream.
We also caution against overzealous prosecution and persecution of corporations, particularly in the financial sector. Such actions can lead to the weakening of our industries, job loss, and overall national decline. Regulatory agencies and legal entities should exercise discretion and balance in their actions, recognizing the years of effort and planning that go into building reputable companies like Morgan Stanley, Goldman Sachs, and others. It is important to remember that these companies are accountable to their clients and shareholders, and their stability is crucial to the economic health of the nation.
While acknowledging that there are companies engaged in unethical behavior that merit legal action, we believe these are exceptions and not the norm. Our stance includes the need for tort reform to support the growth and competitiveness of U.S. industries.
In the context of global economic competition, every internal conflict and resource spent on infighting is seen as a disadvantage against international competitors. We liken the United States to a naval destroyer, where internal harmony is essential for effective competition on the global stage.
Regarding consumer credit, we advocate for greater transparency and the regulation of predatory lending practices. Specifically, any loan charging over 21% interest should be considered usurious and banned. Transparency at the time of loan application should be mandatory, including clear disclosure of any covert co-signers or backers. This is to prevent situations where consumers find themselves unknowingly beholden to undisclosed parties, which we view as fraudulent and unethical.
Our vision is to uphold the principles of capitalism, ensure fair and balanced corporate regulation, and promote transparency in consumer credit, all of which are essential for maintaining a healthy, competitive, and just economic environment.