We need several amendments. I'm not a finance guy, I'm a contract specialist in the oil and gas industry, this isn't my area of expertise, but here goes:

1. I'd like to see the weird accounting go away that allows a company to book profits before the money is received. The counting your chickens before the egg is even laid-What's it called, Mark to Market?

2. Pensions and other funds where the money is managed by a fiduciary should have to disclose fully to the regulators and the beneficiaries

a. The name of any hedge funds and their country of registration. In other words, if they are operating under Panamanian registration to dodge taxes, or Bahamian so they can have bank secrecy, I want to know it

b.The principles in any hedge fund and their compensation from the fiduciary's funds.

c. their general type of business-oil and gas comodity speculation, investments in loan tranches, investments in any illiquid investment like working interests in oil and gas wells exploration funds, or loan products that are new and have never sold in a market

d. any commissions paid to the trustees, including things like golf vacations in Scotland or investment conferences at somebody's Alaskan hunting lodge

e. other involvements of the trustees with any of the principles of the fund-were they given a personal opportunity to get in on somebody's commercial real estate deal with 100% financing in exchange for using the trust fund's money in another commercial real estate deal with a big back in after payout?

3.participants in a company operated 401K, or a union pension fund should be offered easily transferred at no cost options like a mutual fund or inflation indexed treasury bond fund

4.. Boards of Directors or Fiduciaries should be liable for their mistakes, including liability that uses the assets things like their inhertited Testamentary Trusts to repay victims of malfeasance

5. a death penalty for corporations and people's careers. If a person uses a corporation to defraud others, the person should never be allowed to work in any financial capacity again. For example, any director of a company like Enron or Reliant or Duke should be prohibited from being an officer or director of any corporation. When a company like Reliant is found guilty of fraud like the California natural gas manipulation, all the officer's should be prohibited from being the officer or director of any other company, and the company sold to an honest company in the field, or the assets broken up and distributed to the victims, the creditors and the stock and bond holders, in that order.

That ought to be a pretty good start. The general principle is that the deals should be transparent, and Trustees and Boards shouldn't be allowed to shelter any assets from repaying injured parties. Let's allow people to know what their fiduciaries are really up to, and give them a no cost way of opting out.There's a lot of difference between a Bond fund in Treasury Inflation Indexed Securities, and a Bond fund in outlandish products that nobody can understand and are illiquid, like all the Tranches in the subprime loans. And last but not least by any means, why are corporations allowed to continue after they have engaged in criminal fraud? Why are multimillionaires on a board allowed to shelter any of their assets from the victims of fraud or gross stupidity? Why are corporate bondholders and lenders given preference in bankruptcys over victims of fraud?