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Martin O`Malley on Corporations

Democrat

 


It's crony capitalism to bail out banks for bad bets

Q [to Sen. Sanders]: Secy. Clinton says she will break up Wall Street that don't play by the rules.

SANDERS: Wall Street play by the rules? Who are we kidding? The business model of Wall Street is fraud. That's what it is. Wall Street representatives will not be in my cabinet. Wall Street today has enormous economic and political power. Their business model is greed and fraud. And for the sake of our economy, the major banks must be broken up.

O'MALLEY: There is not a serious economist who would disagree that the six big banks of Wall Street have taken on so much power and that all of us are still on the hook to bail them out on their bad bets. That's not capitalism: that's crony capitalism. That's a wonderful business model. If you place bad bets, the taxpayers bail you out. But if you place good ones, you pocket it.

Source: 2015 CBS Democratic primary debate in Iowa , Nov 14, 2015

Separate casino banks from good ones: support Glass-Steagall

We raised the minimum wage, passed the living wage, invested in infrastructure, went four years in a row without a penny's increase in college tuition. We need to separate the casino, speculative, mega-bank gambling that we have to insure with our money, from the commercial banking, reinstating Glass-Steagall.

[Moderator explanation]: Glass-Steagall is the Depression-era banking law repealed in 1999 that prevented commercial banks from engaging in investment banking and insurance activities.

Source: 2015 CNN Democratic primary debate in Las Vegas , Oct 13, 2015

Income gap growing due to concentration of corporate power

In our idea of country, there is no such thing as a spare American. There is, however, a growing injustice in our country today. It is the gap between the strong and just country our children need for us to be, and the country we are in danger of becoming. For today in America, 70% of us are earning the same or less than they were 12 years ago. Today in America, family owned businesses and farms are struggling to compete with ever larger concentrations of corporate power.

Powerful, wealthy special interests here at home have used our government to create--in our own country--an economy that is leaving a majority of our people behind. An economy where a majority of our people are unheard, unseen, un-needed, and left to conclude that their lives and labors are literally worth less today than they were yesterday. We are allowing our land of opportunity to be turned into a land of inequality. Main Street struggles, while Wall Street soars.

Source: 2016 presidential campaign website, MartinOMalley.com , May 30, 2015

Change Maryland's anti-business attitude

Maryland's anti-business attitude, combined with our onerous tax and regulatory policies have rendered our state unable to compete with any of the states in our region. It's the reason that businesses, jobs and taxpayers have been fleeing our state at an alarming rate. It's at the heart of the fiscal and economic issues we are currently dealing with, and it is something we must find solutions to.

A year ago, I held my second annual Change Maryland Business Summit on Improving Maryland's Economic Competitiveness. We became the leading voice on these issues. A year ago, this legislature created the Maryland Economic Development and Business Climate Commission, to make recommendations to make Maryland competitive. We are anxiously awaiting the recommendations of this commission. But, I am confident that we will find many areas of agreement to make Maryland a more business friendly and more competitive state, so that we can create more jobs and more opportunities for our citizens.

Source: State of the State address to 2015 Maryland Legislature , Feb 4, 2015

Repeal personal property tax on small business

I have spent most of my life in the private sector, running a small business in a state that, at times, seemed openly hostile to people like me. There is much more for us to do, but as a first step, I'm proposing cutting personal property taxes for small businesses.

This burdensome tax and bureaucratic paperwork discourages the creation of new business, and drives small businesses and jobs elsewhere. This legislation would create a tax exemption on the first $10,000 in personal property, entirely eliminating this tax for more than 70,000 small business owners -- or one-half of all Maryland's businesses.

Source: State of the State address to 2015 Maryland Legislature , Feb 4, 2015

Maryland is #1 in businesses owned by women

Seven years ago, we were failing to live up to our state's full potential. Seven years later, we are not just One Maryland. By many measures, we are Number One Maryland: Seven years ago--in response to the desires of our people-- we set out to govern in a fundamentally different way: Setting goals. Measuring performance. Hitting deadlines. Getting Results. Making the work of progress visible for you to see, and for me to see.
Source: 2014 State of the State Address to Maryland legislature , Jan 23, 2014

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Page last updated: Aug 18, 2016