[booter]

The Occupy Wall Street protesters have been widely criticized for “not having demands”, as if the lack of a clearly articulated policy platform undermines the legitimacy of those crying foul at a system that seems rigged - politically and economically - in favor of the well connected and wealthy few. But creating rules and incentives to effectively safeguard fairness, equity and opportunity in the global economy is complicated. Fixing what’s broken cannot be achieved with a single simple demand, or even a five-point plan.

There is widespread sentiment among many of the Occupiers that reducing the extraordinary influence of money in politics is imperative. This strong commitment to direct democracy is exemplified in the way Occupation working groups operate by consensus, in a transparent, non-hierarchical structure. Deep and significant reform to reduce the sway money exerts through campaign contributions and lobbying would help restore faith in the basic functioning of American democracy.

Likewise, financial industry insiders who recklessly sell low-grade assets to unsuspecting investors, on the basis of misleading information, turning a blind-eye when they should have known better, should face civil and criminal liability.

And there are other measures - none particularly radical - that can and should be taken to reduce risks and volatility and increase transparency and accountability in financial markets. Strengthening regulation, supervision and transparency in the banking sector, including through higher bank capital and margin requirements, would significantly improve risk management and governance.