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What is your view on the Occupy Wall Street Protests
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What is your view on the Occupy Wall Street Protests

  #21 (permalink)
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furytrader View Post
Honestly, I think these protests are intended to deflect attention from the White House, in regards to the last 2-3 years of economic policy making that hasn't produced the results we were promised. Otherwise, why are they starting now? It would have been more salient to raise these concerns back in 2008 ...

Furthermore, to allege that "corporate and Wall Street greed" is the only reason behind the current economic predicament is to ignore the role that government played in this (and, to a lesser extent, organized labor). I'm not saying that Wall Street (Bear Stearns, Lehman Bros., Merrill, B of A) and corporations (AIG) didn't play a role, because they clearly did, but to portray them as being the only actors responsible is disingenuous. The Federal Government in the 1990s prodded banks to develop the sub-prime mortgage market, and the White House resisted efforts by the CFTC to rein in over-the-counter derivatives. Republicans don't get off scot-free either, as they controlled both the White House and Congress for six years in the 2000s and didn't do anything to head off these risks.

That being said, while most of the TARP money lent to the financial sector has been repaid, the biggest *non-payment* so far has been from the automobile industry, which is beset by onerous labor contracts. The challenges facing state and municipal governments stem primarily from the fact that they rely too much on taxing the wealthy (whose average net worth plummeted during this crisis, thereby reducing tax revenues to government), exposing the prohibitive costs these governments pay to unionized labor and pensions.

Of course, all of this is lost on the twenty-something protesters who are banging drums, blowing horns and waving pseudo-socialist red flags on the corner of Jackson and LaSalle Street in Chicago.

The problem as I see it is because people's are fed up with the government. They are taking on Wall Street is because Wall Street owns all the governments, which in term own us.

About the TARP money, it has never reply. If they take it free, and turn around and able to leverage to 40 to 1 or something and buy treasury bill. Even if treasury bill is at 1% that's 40% risk free money.

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  #22 (permalink)
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Regarding the TARP, the Treasury Department (to their credit) publishes a daily TARP update so you can see what was paid out, what's been paid back, etc. You can read it here.

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  #23 (permalink)
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Mickey Caine View Post
On a slightly trival note, could I just add that any cause that encourages women to remove their tops, I am fully behind.

I am also in favor of short naked activities... instrument mini skirt...

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Forgive me beeing off topic...

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  #24 (permalink)
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The air is not even hot anymore.

Disregard the title.

There is an Occupy event here in Portland OR, starting tomorrow.

Maybe I should go. My career and retirement savings have been destroyed.

Warren Buffet.... George Soros... Warrren Buffet... George Soros... all those lefties, it's all their fault, why do they HATE AMERICA?


Quoting 
Honestly, I think these protests are intended to deflect attention from the White House, in regards to the last 2-3 years of economic policy making that hasn't produced the results we were promised. Otherwise, why are they starting now? It would have been more salient to raise these concerns back in 2008 ...

Honestly, that sounds moronic. Yeah, the protests were all organized by Austin Goolsbie.


Last edited by Zondor; October 5th, 2011 at 12:49 PM.
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  #25 (permalink)
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cw30000 View Post
Under a capitalist and free country, they can do whatever they want with the money. If they like, they can burn it to warm their hands.

But we don't have a free country or we have capitalism. China has more economy freedom than US. Business here are look to China. This is how sad this country is.

The occupy wall street people are ill inform. It is not capitalism that failed, it is corny capitalism that had failed. Our government with central planning has failed us. A true capitalism would like those "too big to failed" just failed.

To me, Capitalism can't work without balance. Socialism definitely doesn't work!

Capitalism only works when there is a high moral fiber. Rich people only get rich in my opinion because of the shoulders they have stood upon whether it be laws, people, family, education system, highways, etc...

Here in Hawaii, the wealthiest are those that tap into the State and Federal Government for their gravy train. It is disgusting to see and I hope someday to see it end. And by the way, these are people that lean HARD RIGHT!!!! Funny how that works. As long as it is for them, then government programs are great.

WE can all be VICTIMS and blame blame blame, but we all put ourselves in this situation. Who's fault is it that we are all fat (I am not!), poor diet, poor work ethic (compared to earlier generations).

I don't want to blame, but to me I think you had a very sad war, a baby boom, then a bunch of f-ed up kids from f-ed up dads coming back from the war and now they have been setting policy for 30 years that will destroy us.

****I have a SOLUTION!!!!!

Take every political office term and multiply it by 1.5

Example: President = 4 * 1.5 = 6

President serves 6 years. No reelection, no bullshit, done done done. 200 years ago a president could do only so much harm in 8 years. Now they can do considerably more and there is too much bullshit like "We don't want to give the President a "WIN" for the next election! WHAT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Senators get 9 years!
Representatives 3 years!

A person can hold only one type of position in a lifetime. Senator once only, then could be a representative, then could be a President etc..

If you are vice President, then you could become President or any other political office.

Let's get back to Servant Leadership!

To me, that is the solution, no more lobby bribes, corruption (limited) and Congressional health care etc...

I will serve or run for office if I know I will have a chance to get on a decent committee without sucking the balls of some tired dipshit who has no moral barriers.

Congressional committee assignments will be done via blind voting. Each person gets one vote for each committee position.

SOLVED. No more bullshit, no more corrupt Goldman Sach's employee's running Treasury, FDIC, SEC!!!!!

President will be elected by POPULAR VOTE!

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  #26 (permalink)
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bluemele View Post
To me, Capitalism can't work without balance. Socialism definitely doesn't work!

Capitalism only works when there is a high moral fiber. Rich people only get rich in my opinion because of the shoulders they have stood upon whether it be laws, people, family, education system, highways, etc...

Here in Hawaii, the wealthiest are those that tap into the State and Federal Government for their gravy train. It is disgusting to see and I hope someday to see it end. And by the way, these are people that lean HARD RIGHT!!!! Funny how that works. As long as it is for them, then government programs are great.

I don't think it's fair to assume that the ONLY way people get rich is by taking from someone else. And by that I'm thinking of the Steve Jobbs, or Gates, or Buffets. Those people, or people like them that create something someone else wants to buy, or take a risk at some point by investing in something, I don't think it can get any fairer than that.

It seems you are describing a situation where it is likely, a failure of GOVERNMENT and the people that appoint those people. If someone gets rich by steering a government contract their way and paying off a politician, that's a failure in government and it's supporters. Basically ANY entity that receives an actual subsidy of some sort(not a tax reduction but an actual payment, or some type of government backstop), there will always be room for impropriety. Sure THOSE types of people are getting wealth based on the shoulders of someone else, but that's the fault of the government.

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  #27 (permalink)
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What this should really be about. A return to free markets.

The economy is being destroyed by FINANCIALIZATIION, pure and simple. Denninger, as usual, hits the nail on the head. The title of this post should more accurately have been: a return to a real economy based on production rather than speculation, manipulation, monopolist parasitism, asset stripping.. and perpetual war.


OWS: Want To Turn The Tide? in [Market-Ticker]




Quoting 
"If so -- if this is really about "the 99%" -- then you need to understand a few things.

Some of you already do. To those, this article is redundant. To the rest, and to the majority of the people in this nation, it is not.

Last night I appeared on Dylan Ratigan's show. You can watch the segment, and should. I used the word financialization, which a few people emailed me about and asked me to explain.

Thus, this Ticker.

So what is financialization anyway? It is the process by which something very ordinary (say, a TV set) becomes financed. In doing so there is inherently created the use (and usually the abuse) of leverage..."



Last edited by Zondor; October 5th, 2011 at 01:59 PM.
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  #28 (permalink)
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I think the protests show the strength of the youth and the young at heart. Unfortunately a lot of them do not bother to do research and as a result their reasoning and logic is subject to whoever sounds the most passionate or wears the least expensive birkenstocks. I remember getting in argument with a person holding an "Obama is Hitler" sign last year. He talked about Obama and bailing out banks ad nauseum. I asked him his views on the Frank-Dodd act and was met with a blank stare, I asked him if he had done any reading and whether he knew that recent steps made by the president were viewed by many as anti-business. This was met with another blank stare before he repeated his initial pitch and tuned me out.

I applaud those that have the willpower to stand up for what they believe in, but at the same time question their beliefs and whether they are seeing the world from an incorrect frame of mind. It is easy to pit the corporations (and the 1% of the population) as purposefully trying to rape and pillage 99%, but that is vastly oversimplifying the dynamics between class, political views, capitalism, nationalism, etc.

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  #29 (permalink)
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Related article

Occupy Wall Street: a Reply to Skeptics Counterpunch: Tells the Facts, Names the Names



Quoting 
On September 27th Lauren Ellis published an essay in Mother Jones Magazine entitled “Is OccupyWallStreet Working?”

The essay argues that Occupy Wall Street (OWS) is not working because the movement has no clear message and is not demographically representative of those who are affected most by the current economic problems. While Ellis does raise important points about movement-messaging and political representation, she in no way tries to understand the internal logic and outward expression of OWS.


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  #30 (permalink)
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SO you don't like the protests?


Watch this video and get back to me.


WTF $6.50 an hour - YouTube

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