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What is your view on the Occupy Wall Street Protests
It's important to understand that the banksters are parasites who are destroying the rest of the economy.
So let's hear more knee jerk complaints from drooling court jesters (who think they are part of the .001%) about the unwashed protestors who FORCED the banksters to drain trillions of dollars from everyone else... including YOU.
We need some good tax "reform". Let's shower more rewards on the crooks who are DESTROYING America. The 999 plan has a zingy, catchy title that will appeal to morons, while delivering a nice little gift to the top crooks in the banking "industry". Any objections that might be raised to shifting more of the tax burden to those least able to pay should be dismissed as an incitement to Class Warfare. COUNT ME IN, HERMANŽ!
(original artwork by the WilliamBanzai7 Institute! on ZeroHedge)
Here’s how the numbers break down by income level:
Less than $10,000: $1,122 more (19.5% increase, 22.1% tax rate)
$10,000-$20,000: $2,705 more (17.8% increase, 19.7% tax rate)
$20,000-$30,000: $3,833 more (15.0% increase, 22.1% tax rate)
$30,000-$40,000: $4,196 more (11.7% increase, 23.2% tax rate)
$40,000-$50,000: $4,399 more (9.5% increase, 23.8% tax rate)
$50,000-$75,000: $4,326 more (6.9% increase, 23.8% tax rate)
$75,000-$100,000: $4,368 more (4.9% increase, 23.8% tax rate)
$100,000-$200,000: $2,105 more (1.5% increase, 23.1% tax rate)
$200,000-$500,000: $11,155 less (3.8% decrease, 20.6% tax rate)
$500,000-$1 million: $59,489 less (8.6% decrease, 18.1% tax rate)
$1 million or more: $455,247 less (15% decrease, 17.9% tax rate)
In that interview, Taleb says that banks are projected to extract over $5 trillion from the economy over the next 10 yrs via their salaries and bonuses.
That's a lot of money.
But the big banks get their funding from the Federal Reserve (and at this point, savers who are getting no returns on their savings, though that does allow the big banks to borrow from the Fed cheaply).
So what the heck are they doing that is worth that much when they are basically funded by the Fed and the taxpayes??
And if you have deposits with B of A - Watch Out!!
The short form via Bloomberg:
Bank of America Corp. (BAC), hit by a credit downgrade last month, has moved derivatives from its Merrill Lynch unit to a subsidiary flush with insured deposits, according to people with direct knowledge of the situation…
Depositors and FDIC are on the hook for their derivatives! Yikes!!
The highest court in Massachusetts ruled that a homeowner who bought a foreclosure that hadnt been properly conducted by the foreclosing bank in 2006 didnt have legal ownership of the property.
The decision by the Supreme Judicial Court casts a cloud over the legal ownership of any properties in Massachusetts where banks didnt properly convey title when foreclosing. The problem has gained attention nationwide because of banks use of robo-signing and other dubious practices that may have broken chains of title on foreclosures.
The case follows a previous state court decision that voided a foreclosure when banks couldnt prove that they owned mortgages when they initiated foreclosure proceedings.
This is a byproduct of lack of accountability for the mortgage fraud. Bailed-out banks are trying to create a 2-tiered justice system, where fines paid for criminality become just a cost of "business". Their creation of MERS has broken the chain of property rights by destroying the transfer-of-title process.
Mainstream media does not report on this, so people defend this kind of behavior as "capitalism" out of ignorance.
I apologise for being a bit of a late comer to the subject (only joined futures.io (formerly BMT) a short time ago).
By observing the inspiring phenomenon that started out as Occupy Wall Street (OWS) one cannot ignore a fundamental fact: the US is ripe for a major re-engineering project.
Taking a somewhat historical perspective, the US was the single most important factor in dismantling the worst intellectual and governance detour mankind has ever ventured onto: socialism based on Marxism and Leninism. Subsequent to that, the United States unfortunately stopped being the beacon of democracy for the past couple of decades.
The problems, of which OWS is the result of, started shortly after the collapse of the Soviet Union. When 35,000 Soviet nuclear warheads were no longer pointed at North America and the sheer existence of the country is no longer at stake, a massive drop in the quality among the new entrants into US politics has taken place especially in terms of their moral stature. This resulted in the current generation of US politicians that is mainly motivated by personal career gains and commercial grab. Once the US no longer had to face the grave challenges posed by a dangerous enemy (the Soviet Union), its political leadership - previously committed to the protection of the United States and the Western civilization - has managed to find new and tempting areas of interest.
The US is plagued by serious deficiencies; just to name a few:
1. Democratic representation
a. Every State can send 2 Senators to Washington. That means California is represented by 2 Senators and the next 21 states with population less that Californias are represented by 42 Senators. If the term democracy comes from the Greek word of dēmokratía ( = "rule of the people") then there could be an issue here.
b. Winner takes it all. If one party in the US can win 50% + 1 vote in all precincts, it can have 100% of the seats in the Senate (for example), leaving 49.9% of the population without representation.
Most developed Western nations left the Winner takes it all model, and implemented proportional representation. In such models (using the above example), the winner would take over 50 seats and the loser would end up with around 40 or so seats.
2. Choices of Candidates
The US voters do not really have true choices. To get into and to stay in US politics is extremely costly. True talent, real intellectual capacity and moral stature can easily be beaten by well funded PR campaigns put together by spin doctor specialists, leaving the US voters only with alternatives presented to them by holders of money, i.e. special interest groups.
Just as a side note: the Canadian election laws are extremely stringent (and successful) to curb the undue influence of money in politics. The US system works exactly the other way around.
3. US democracy = Corporatism
Anyone running in US politics has to be either very rich or must have access to sponsors with deep pockets. That is the reason the US is being governed by a (mostly) bought Congress and its judiciary is also heavily penetrated by Big Business, especially Wall Street.
OWS raises a long list of issues that are not difficult to agree with. It is clear to many Americans that the System is badly broken. What we have been witnessing in the wake of the 2008 financial meltdown was a massive judicial meltdown in the United States. It is actually quite alarming to see how effectively a small group of influential elite disabled the entire judicial machinery of the US past 2008 (some spotty examples to the contrary are not very convincing). No surprise that so many people are outraged, even though only a very small percentage of the crimes committed are known in detail and even the full extent of the financial destruction is not well understood by the protesters (especially beyond the borders of the US).
One important thing is becoming more and more clear to people: what was committed against them and at their expense is a result of the incestuous relationship between Wall Street and the US Government. It is becoming more and more clear that the US Government has been occupied by Wall Street for the past two - three decades and this gave birth to the criminal industry that turned out to be financially much more destructive than all previous financial crisis and both World Wars combined!!! This criminal industry has been / is able to derail the US justice with an incredible rate of effectiveness.
It seems to me that what OWS has is a perfect business case for a revolution (using this word in the most civilized, humane, forward looking, humane dimensions and constructive term). What it does not have is the LEADER and until the leader emerges, the chances for measurable success are in doubt.
That sounds even better as a definition of the "Buy and Hold" investor!
Agreed! We live in what was defined in the Constitution as a Republic, not a democracy. Democracy is mob rule. A Republic is a government of LAWS promulgated and carried out by elected representatives. What shall we call it when the rule of law has been subverted by the ruling elites for their own short term private enrichment? The terms oligarchy, kleptocracy, banana republic.. and late Roman empire come to mind.
That's why I maintain that most Tea Party folks have more in common with #OWS than they do with the koch Brothers, who bankroll and steer the Tea Party. But that idea did not originate with me.
If you think you are more knowledgeable than Karl about why the Tea Party was started in the first place, let me know.
Why does he have to go on RUSSIAN TV to express his views? What does that tell you about the corporate mega media in this country? I don't think even MSNBC would be comfortable with "Stop the Looting and Start Prosecuting".
It's easier for OWS to blame Wall Street then blaming Franklin Raines, Tim Howard, and Jim Johnson; the "3 Men Who Brought Down Wall Street" and blew up our financial system; who are all now serving as top economic advisers to Barack Obama; then blaming the present administration that was put in place to cover up the activities of these three along with the 3 from the Clinton Dream Team: Summers, Rubin and Greenspan.
Rubin, Greenspan & Summers: The 3 who allowed "Wall Street" to develop and engage in mortgage derivatives.
WHERE ARE THEY NOW? FRANKLIN RAINES?Raines works for the Obama Campaign as his Chief Economic Advisor. TIM HOWARD? Howard is a Chief Economic Advisor to Obama under Franklin Raines. JIM JOHNSON? Johnson was hired as a Senior Obama Finance Advisor and was selected to run Obama'sVice Presidential Search Committee.
It is this powerful crowd who encouraged Obama to run for President so he could get the easy win and cover up their financial destruction. It's all about the president's men. Obama is their sock puppet.
dont believe anything you hear and only half of what you see 
