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Thread: Wallstreet revolution

  1. #64

    Default Re: Wallstreet revolution

    "Don't get me wrong, I understand synthetic derivatives and CDO's, but that's just a secondary market that negatively impacted wall street firms, not individual homeowners. The basic problem is that people were approved for mortgages that they couldn't afford."


    I don't want to oversimplify it, but pressure from two branches of federal government was not the reason unqualified homeowners were given mortgages, as was the "spin" among many POLITICAL analysists post-bail out.

    Greed within the finanacial markets did that, and that secondary derivitive market was THE vehicle for accelerating the process straight through to the taxpayer bail out. Subprimes were fuel for a speeding locomotive. As more speed was demanded, financial players couldn't churn them out fast enough.

    Don't forget the savings and loan crisis, with it's LBOs and junk bonds, and THAT taxpayer bail out.

    That's my read.




    "The protesters should be sitting outside the White House or Congress"


    As far as where to protest, I'd pick Congressional offices. And for that to be effective, it must be LOCAL folks at their LOCAL offices.

    I know when the bail out was originally proposed in 2008, I actually stopped at Congessman Kucinich's Lakewood office and gave my urging for a no vote. I didn't carry a sign. I just walked in, politely and with a smile. And he did vote no, INITIALLY.
    DSCH: a Soviet artist's reply to unjust criticism.

  2. #65

    Default Re: Wallstreet revolution

    Quote Originally Posted by JensenS View Post
    How is that different than the early days on the tea baggers?
    The tea party did not destroy property, poop on cop cars, make anti-semetic racial slurs or say that they wanted to kill and eat anyone. If these protestors had any civility at all, maybe I would take them serious. They don't. They can't even agree on what they are protesting except to say that they hate rich people. The union bosses behind this encourage that behavior. Maybe if these idiots would go to work, they would be able to earn their own millions.

  3. #66
    Olympic Champ r.payton@att.net's Avatar
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    Default Re: Wallstreet revolution

    Maybe if these idiots would go to work, they would be able to earn their own millions.
    Therein lies the rub-NO ONE can find a job paying better than the ones they have living in their parents basement !! Why would these kids leave home and actually struggle ? Or at least this is what they believe.
    I never had the option of staying and living off the parents. Left for IU at 18 with no money and no prospects . Expected nothing to be given and worked through problems . Albeit far from a success story (at least the fairy tale ones) I awaken every morning realizing I am still in the fight . I may be in the 13th round behind 10 points yet have not given up . Perhaps the only way to win in anything is to actually join the fray !
    The people interviewed (at least the ones I've heard speak) could NOT hold a job . anyone who would join a movement without knowing who the leaders are or what they stand for is an idiot . Often I think it is kinda sad when I think some of these young people really think they are doing a positive . Perhaps idyllically they believe they are bettering society.Maybe if they awaken one other person they are . Yet I also realize these people are so far down the ladder they would have to die and be reborn 1000 times to make the rank of PAWN . shame on the people using these kids .
    You know, I think I would rather be a man than a god . We don't need anyone to believe in us. We just keep going anyhow. It's what we do.

  4. #67

    Default Re: Wallstreet revolution

    I agree with you Payton. I don't know what post it was, but I pointed out earlier that these kids have never had to face adversity. They all get trophies and smiley faces. Now that life is tough, they have no idea how to deal with it.

    My sister works HR at an airport. She hires and fires. She tells stories everytime I see her of college graduates coming in for an interview and bringing their mom into the actual interview with them! She says it happens at least 2-3 times for every 10 people who apply for a job. Their mothers actually speak for them in the interview when the applicants get tongue tied. That is today's world.

    None of these morons seem to have gotten the idea to start their own business. With hundreds or thousands of like minded people all in one place, you'de think that they would come up with the idea of pooling their money together and starting up their own business. Then don't make it publically traded so wallstreet couldn't hold them back. But, sadly, they can't have an independant thought.

  5. #68

    Default Re: Wallstreet revolution

    Quote Originally Posted by quinn14 View Post
    My sister works HR at an airport. She hires and fires. She tells stories everytime I see her of college graduates coming in for an interview and bringing their mom into the actual interview with them! She says it happens at least 2-3 times for every 10 people who apply for a job. Their mothers actually speak for them in the interview when the applicants get tongue tied. That is today's world.
    Please tell me you're joking. That's absolutely insane, it's not like their mom is going to be an objective reference.

  6. #69

    Default Re: Wallstreet revolution

    Quote Originally Posted by Flop The Nuts View Post
    Please tell me you're joking. That's absolutely insane, it's not like their mom is going to be an objective reference.
    Sadly, it is not a joke. She told a story of a guy she had to fire once b/c he never showed up on time. After firing him, his mother called asking why. When she explained that she was not allowed BY LAW to discuss his dismissal with anyone except him, the lady hung up on her. A few hours later, the dad showed up demanding to know why. Security was called and everything. Quite the scene as she described it. But the law was on her side and the laws were made to protect the fired worker from getting other employment, not protecting the employer from their mommy and daddy.

  7. #70
    Olympic Champ r.payton@att.net's Avatar
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    Default Re: Wallstreet revolution

    otests in Vermont and elsewhere



    By Liz Goodwin | The Lookout ? 14 hrs ago





    Students at UC Berkeley's Occupy protest (AP)

    Violence marred Occupy Wall Street protests around the country this week. Occupy protesters told the Associated Press Thursday that a 35-year-old military veteran shot himself Wednesday at a protest at Burlington, Vermont. Authorities have not confirmed that the shooting was a suicide and are waiting to release the man's name until his family has been notified.
    Occupy Vermont leader Emily Reynolds told the AP that the man "clearly needed more help than we were capable of giving him."
    Police in riot gear violently broke up an Occupy encampment Wednesday night in the largely liberal university town of Berkeley, Calif. Dozens of protesters were arrested. In the disturbing video below, police used batons to beat protesters who refused to leave the encampment. The university has forbidden students--who are protesting the rising cost of tuition at UC schools, even as some course offerings and services have declined--from protesting in the area, the San Francisco Chronicle reported.

    In nearby Oakland, Occupy Wall Street protesters say they are being falsely blamed by city officials eager to evict them for an unrelated shooting at a nearby transit station. A man was shot to death Thursday night near the plaza where Occupy protesters have been camping out for weeks, Reuters reports.
    The protest organizers say the shooting had nothing to do with their camp, and that the incident happened because Oakland is unsafe, in part because city officials have shut off lights in the area for the past few nights in a bid to drive them out. Police evicted the peaceful protesters on Oct. 25, badly injuring a former Marine with a tear gas canister in the process.
    In New York, an Occupy Wall Street protester was arrested on Thursday for allegedly kicking a medic in the ankle, amNewYork reported, though a protest organizer told the paper that the medic just tripped.
    Portland mayor Sam Adams has vowed to shut down the encampment in that city, citing two drug overdoses in the camp and a protester who is accused of setting off a Molotov cocktail. Adams says the movement must move to a second phase that does not involve physical camps.
    Police and protesters have clashed around the country since the protests began in September. The Occupy protesters have various causes, but started as a way to raise awareness about the undue influence of corporations and the super-rich on American politics.
    Other popular Yahoo! News stories:
    ? Occupy protesters interrupt Michele Bachmann speech in South Carolina
    ? Gingrich tied with Romney in new poll
    ? Texas scientist makes strands of 'invisibility cloak'
    You know, I think I would rather be a man than a god . We don't need anyone to believe in us. We just keep going anyhow. It's what we do.

  8. #71

    Default Re: Wallstreet revolution

    What do those idiots think is going to happen when you destroy property that isn't yours, poop on cop cars, piss in bank lobbies, rape several women, chant racist sayings and basically hold people hostage in a building? This is not how progress is supposed to be made. Peaceful protests are fine, but these people are an angry mob and they can't even explain what they are angry about, except they want something for nothing.

    Protesting school tuition is fine. I think college is WAAAY over priced. But you have to look at where it begins. The rise in tuition isn't because of Wall St., it's because people have been brainwashed into thinking they have to go to college to be anything. Then once they got everyone believing that, they jacked up the prices and it keeps rising. The government wants you to believe that medical insurance is crazy. Look at the increase in tuition compared to insurance. It's crazy, but the occupy morons won't protest the ones who need protesting. It's Washington, not Wall St.. Isn't it convienant that Obama wants Washington to take over student loans? That's to keep you forever enslaved to the government. But, apparently, a lot of people are now convinced that government actually solves problems.

  9. #72
    Olympic Champ r.payton@att.net's Avatar
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    Default Re: Wallstreet revolution

    did you watch the video where the riot place repeatedly batoned several peaceful guys repeatedly in the gut ?
    You know, I think I would rather be a man than a god . We don't need anyone to believe in us. We just keep going anyhow. It's what we do.

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