Occupy Wall Street!

ss4699's Avatar
What a waste of fucking time (and any other time you want). Originally Posted by fritz3552
First 2 were from the Wall Street Journal, sorry the link did not get implanted.

http://online.wsj.com/article/AP56ba...+street+sept+8
NEW YORK — Several thousand Occupy Wall Street protesters have marched to New York City's Washington Square Park for a peaceful general assembly.
Demonstrators marched Saturday from Manhattan's Zuccotti Park, the group's unofficial headquarters where protesters have been camped out for the last 22 days. The trek was peaceful and orderly.
On Wednesday, dozens were arrested when thousands marched on Wall Street in their biggest show of support yet. Last Saturday, 700 people were arrested after they spilled onto the roadway while crossing the Brooklyn Bridge.
Protesters are speaking out against corporate greed and the gap between the rich and poor. They say they have no leaders and are making decisions by consensus.
Supporters have donated food, clothing and medical supplies. Some drop off their offerings, while others have mailed them.
—Copyright 2011 Associated Press
AP carried the story originally
http://online.wsj.com/search/term.ht...reet&mod=DNH_S
There are a number of interesting articles for those who want to read more.
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swarmyone's Avatar
a small cadre of dedicated activists has stepped up to manage... Originally Posted by newtotown
Is that what they are calling Starbuck's baristas nowadays?
ss4699's Avatar
The two articles in the first post take two different sides of the arguement. Giving information both for and against what is happening. The main point is some one is doing something about what was do to us by the bankers and finance people not too long ago. I am still hurting from it personally. I do not know that what they are doing will show any results, but something is being done. The thiefs should atleast give back their bonuses. The folks in government that worked this "miracle" were used by Bush and rehired by Obama. I saw a documentary on it not too long ago. Will try and run it down in my list and share it.
ss4699's Avatar
The first American revolution started with tea on board some ships in a harbor someplace? I don't know that this will go that direction or that far.....we got out of Viet Nam because some folks spoke out and even sang songs. Just a chance for discussion. It is allow in the sandbox, Mr Moderator? If not, some one can hit that report button and report this threAD!
dirty dog's Avatar
The first American revolution started with tea on board some ships in a harbor someplace? I don't know that this will go that direction or that far.....we got out of Viet Nam because some folks spoke out and even sang songs. Just a chance for discussion. It is allow in the sandbox, Mr Moderator? If not, some one can hit that report button and report this threAD! Originally Posted by newtotown
You idiots crack me up with your anti wall street crap. You say your still hurting personally, why werent you protesting when these same people and programs where providing you 10 and 12% on your money. You did not mind their robbing Peter to pay Paul then. You want to shut down wall street, thats cool, but I hope you can live on Social Security because without wall street your retirement 401's, Roths IRA's and the like are worthless. You want to protest and scream about wall street, why dont you protest the Government because it was their responsibility to monitor it, why dont you protest the real cause of our economic woes, protest the waste in the spending of our tax dollars, protest the fraud in the welfare system, medicaid, education social security the money wasted there would make wallstreet look like childs play. So go ahead and protest wall street, but nothings going to change because they only do what Gietner and Barnanke allow them to do. Protest government waste and fraud and overspending and then maybe something will change. Hell I might even break out the tie dye and help out.
ss4699's Avatar
Inside Job
http://www.sonyclassics.com/insidejob/
Watch it - trailer
http://en.wikipedia.org/wiki/Inside_Job_(film)
Inside Job (2010) is a documentary film about the late-2000s financial crisis directed by Charles H. Ferguson. The film is described by Ferguson as being about "the systemic corruption of the United States by the financial services industry and the consequences of that systemic corruption."[3] In five parts, the film explores how changes in the policy environment and banking practices helped create the financial crisis. Inside Job was well received by film critics who praised its pacing, research, and exposition of complex material.
The film was screened at the 2010 Cannes Film Festival in May and won the 2010 Academy Award for Best Documentary Feature.
Also check out the local new for last night!
The documentary is split into five parts. It opens with a look at how Iceland was highly deregulated in 2000. Its banks were privatized. When Lehman Brothers went bankrupt and AIG collapsed on September 15, 2008, Iceland and the rest of the world went into a global recession.
"Part I: How We Got Here". The American financial industry was regulated from 1940 to 1980, followed by a long period of deregulation. At the end of the 1980s, a savings and loan crisis cost taxpayers about $124 billion. In the late 1990s, the financial sector had consolidated into a few giant firms. In 2001, the Internet Stock Bubble burst because investment banks promoted Internet companies that they knew would fail, resulting in $5 trillion in investor losses. In the 1990s, derivatives became popular in the industry and added instability. Efforts to regulate derivatives were thwarted by the Commodity Futures Modernization Act of 2000, backed by several key officials. In the 2000s, the industry was dominated by five investment banks (Goldman Sachs, Morgan Stanley, Lehman Brothers, Merrill Lynch, and Bear Stearns), two financial conglomerates (Citigroup, JPMorgan Chase), three securitized insurance companies (AIG, MBIA, AMBAC) and three rating agencies (Moody’s, Standard & Poors, Fitch). Investment banks bundled mortgages with other loans and debts into collateralized debt obligations (CDOs), which they sold to investors. Rating agencies gave many CDOs AAA ratings. Subprime loans led to predatory lending. Many home owners were given loans they could never repay.
"Part II: The Bubble (2001-2007)". During the housing boom, the ratio of money borrowed by an investment bank versus the bank's own assets reached unprecedented levels. The credit default swap (CDS), was akin to an insurance policy. Speculators could buy CDSs to bet against CDOs they did not own. Numerous CDOs were backed by subprime mortgages. Goldman-Sachs sold more than $3 billion worth of CDOs in the first half of 2006. Goldman also bet against the low-value CDOs, telling investors they were high-quality. The three biggest ratings agencies contributed to the problem. AAA-rated instruments rocketed from a mere handful in 2000 to over 4,000 in 2006.
"Part III: The Crisis". The market for CDOs collapsed and investment banks were left with hundreds of billions of dollars in loans, CDOs and real estate they could not unload. The Great Recession began in November 2007, and in March 2008, Bear Stearns ran out of cash. In September, the federal government took over Fannie Mae and Freddie Mac, which had been on the brink of collapse. Two days later, Lehman Brothers collapsed. These entities all had AA or AAA ratings within days of being bailed out. Merrill Lynch, on the edge of collapse, was acquired by Bank of America. Henry Paulson and Timothy Geithner decided that Lehman must go into bankruptcy, which resulted in a collapse of the commercial paper market. On September 17, the insolvent AIG was taken over by the government. The next day, Paulson and Fed chairman Ben Bernanke asked Congress for $700 billion to bail out the banks. The global financial system became paralyzed. On October 3, 2008, President Bush signed the Troubled Asset Relief Program, but global stock markets continued to fall. Layoffs and foreclosures continued with unemployment rising to 10% in the U.S. and the European Union. By December 2008, GM and Chrysler also faced bankruptcy. Foreclosures in the U.S. reached unprecedented levels.
"Part IV: Accountability". Top executives of the insolvent companies walked away with their personal fortunes intact. The executives had hand-picked their boards of directors, which handed out billions in bonuses after the government bailout. The major banks grew in power and doubled anti-reform efforts. Academic economists had for decades advocated for deregulation and helped shape U.S. policy. They still opposed reform after the 2008 crisis. Some of the consulting firms involved were the Analysis Group, Charles River Associates, Compass Lexecon, and the Law and Economics Consulting Group (LECG).
"Part V: Where We Are Now". Tens of thousands of U.S. factory workers were laid off. The new Obama administration’s financial reforms have been weak, and there was no significant proposed regulation of the practices of ratings agencies, lobbyists, and executive compensation. Geithner became Treasury Secretary. Feldstein, Tyson and Summers were all top economic advisors to Obama. Bernanke was reappointed Fed Chair. European nations have imposed strict regulations on bank compensation, but the U.S. has resisted them.
ss4699's Avatar
.....You did not mind their robbing Peter to pay Paul then. You want to shut down wall street, thats cool, but I hope you can live on Social Security because without wall street your retirement 401's, Roths IRA's and the like are worthless. Originally Posted by dirty dog
As long as the boys on the street suffer with me! NO PROBLEM! But when they get their bonus and I get nothing?


why dont you protest the Government because it was their responsibility to monitor it, why dont you protest the real cause of our economic woes, protest the waste in the spending of our tax dollars, protest the fraud in the welfare system, medicaid, education social security the money wasted there would make wallstreet look like childs play.
I did the last 3 presidential elections! Johnson started giving away social security to get votes when he became President. But not to retires!
Workman's Comp and Social Security - the employed pay into so it is a return of deposits. Food Stamps, welfare, real entitlements, I would stop in a minute but politicians cannot afford to loose the votes to do what is right can they?
Never voted TEA but I have not voted a party line in 12 years. A protest vote all the way!

So go ahead and protest wall street, but nothings going to change because they only do what Gietner and Barnanke allow them to do.
See the INSIDE JOB LINK

Protest government waste and fraud and overspending and then maybe something will change. Hell I might even break out the tie dye and help out.
Agreed, We can walk the same line once it is formed, but it may turn ugly! Can you afford to bleed and die? Kent State mean anything today?
JackJohnson's Avatar
Proof? Links, please? Originally Posted by fritz3552
During the civil rights movement, dogs were turned on protesters (as well as other crimes commited by police) while Klan supporters were regularly not prosecuted for lynchings and such.

Secondly, the derivatives scandal, subprime scandals, corporate hedging and other Wall Street activities cost this country HUNDREDS of billions in value lost, a shattered housing market, crushed private pensions and led to the largets bailout at the barrel of a gun in history. No one has been arrested... debatable...but pretty frakked true, for any of it. You'd be more likely to get arrested carrying a bag of stinky bud than ripping off billions.

Neither of these situations are the same, however, proof of arrests doesn't mean one is better than the other. Civil disobedience has been a tool of resistance since Moses.

I've seen Tea Party rallies first hand where lots of disgusting things have been said that made me feel alot worse than seeing someone crapping on a car. No one has the upper hand here, we've all sat complacent while things have been happening, everyone is dirty.

Everyone in the "Occupy Wall Street Movement" up on all their facts? Probably not... Everyone in the "Tea Party Movement" know what their talking about? Probably not...

We're all so reduced to soundbites in this country its no wonder reasoned debate at any level happens. We used to be able to have debate in this country, where competing ideas led to a synthesis in the marketplace that made everything better. But the wingnuts on both sides seem to control the media, the debate and get the attention while those of us who think that the govt has a place in this situation, but we can cut waste, and make everyone contribute fairly... including raising some taxes get drowned out. It's sad... and if either of the extremes get their way... I'm out. Canada is looking mighty good.

Note: I really do laugh when folks say "Marxist/Socialist." If you can stand reading all 700 pages of Das Kapital (Marx was German folks) you'll find nuggets of wisdom in Surplus Value Theory that ring true in today's service oriented economies, even more than in Marx's day... In fact, its probably RIGHT ON in terms of how labor (of all types, even intellectual labor) gets pushed around in a capitalist system. However, we stopped being capitalists a LONG time ago.. and we're never going back... we've been market socialists for a long time (debatable, but I think its true).

It's even worse because govt has become a tool for big corporations to squeeze out small businesses/middle class folks. We're corporatists more than capitalists. Example... Billions of dollars of govt contracts earmarked for small business go to small businesses owned by large corporations

http://www.federaltimes.com/article/...N03/107100304/

and we're dismantling oversight on the biggest contract types
http://articles.cnn.com/2011-10-07/p..._s=PM:POLITICS

Anyway... point being. Let them protest... maybe when these two movements pull hard enough... those of us in the middle can take back the show, move forward with rational solutions and get this country on the right track again. Yep... THE MIDDLE... which isn't on Fox or MSNBC.

Keep on keeping on, not matter what you believe. It's definitely your right.




"If Corporations are people... why can't we give them the death penalty"
Proof? Links, please? Originally Posted by fritz3552
Wow, really surprised you need a link to the head-stomping thing since that was such a huge deal when it happened: http://www.politicsdaily.com/2010/10...senate-debate/

You can find videos of the incident on-line as well but it's kind of violent and I don't really know what the rules are directly posting stuff like that.

And surely you remember this incident as well
Actually RockChalker, no, I never heard of nor remember it.

And I still think it's a waste of fucking time.
I notice none of the pro-Occupy types are mentioning the Community Reinvestment Act, used by Barney the Ass Bandit to push banks into writing shitty mortgages that weren't going to be paid back.

Kind of like Obama's energy department fronting Solyndra half a billion bucks when every competent analyst said that the money would be lost.
I think it is great that the young and the displaced financial refugees are finally fed up enough to be heard.

Sometimes you would think the only people upset are Tea Baggerz. These people are mad too and they are mad at the people that use the Tea Baggerz as a phony front to protect their ill gained power.

Bout time the 60's came back in my opinion. If I was a young person I would be pissed off too if I came out of school owing $80,000 and could not find a job. I would be mad if Wall Street, unregulated and unchecked tanked my country's economy and left me living in the 1930's. I would be mad if the minority party in congress tried to make me live like I was back in the 1930's.

I am all for them learning to express themselves and learning the processes of change. Ok with me if they scare the shit out of the right wing and if they begin to fear the consequences of what they have wrought.

JD Barleycorn's Avatar
How does one make money today? I mean real money. If you are a business the way to make money is to expand. To not expand is to stagnate and die eventually. The protestors agree it is all about making money. So business has to expand in order to be healthy. That means new buildings and new employees. That means jobs. This economy is stalled and that is affecting Wall Street which affects the people looking for work. Instead of protesting Wall Street the protesters should be made at the White House for steering a logical course, they should protest the EPA for out of control regulations, they should protest Congress for not doing the right thing when it comes to the budget, they should protest the democratic leadership for not being able to create a budget in over two years, they should protest the democratic party for selling people a bill of goods, they should protest the past GOP leadership for going along to get along. Those are the real culprits. Yes, an occassional businessman (or woman) crosses the line and we have laws to cover this (think Enron and Madoff).

As for the comparisons to the Tea Party; cute little video from a Lyndon Larouche supporter who admits that he and his people infiltrated the Tea Party with race baiting poster in order to discredit the Tea Party.
Look for 1:40 and 2:10 in the video. http://www.breitbart.tv/larouche-sup...mahitler-sign/
Expression of views, whether it's the Tea Party or anyone else is part of being an American. No matter how ridiculous, express away. If you're pissed off about having 80,000 in student loans, the question is why? Whatever happened to working during school and paying as you go? It may take longer but it's an investment in yourself. The kid sounded pretty pathetic on national tv whining about a situation he created. That is not the fault of Wall Street.
swarmyone's Avatar
Let's compare the tax returns of the Tea Party Ralliers and the Occupy Wall Street "activists" and see whe really has a right to be pissed about the way the government spends our money.