After all, Wall Street is clearly the most powerful lobbying force on Capitol Hill. From 1998 through 2008, the financial sector spent over $5 billion in lobbying and campaign contributions to deregulate Wall Street.

The Occupy Wall Street protests are shining a national spotlight on the most powerful, dangerous and secretive economic and political force in America.

Establishing a 0.03 percent Wall Street speculation fee, similar to what we had from 1914-1966, would dampen the dangerous level of speculation and gambling on Wall Street, encourage the financial sector to invest in the productive economy and reduce the deficit by more than $350 billion over 10 years.

It is time we had democratic socialism for working families, not just Wall Street billionaires.

You want to know the way to raise money? Put a transaction fee on Wall Street, so maybe we can curb some of the speculation and raise some money.

The Fed has got to become a more democratic institution that is responsive to the needs of the middle class, not just Wall Street CEOs.