Occupy Wall Street

[guyser]

I was going to say ..... there's personal accountability

All true, except only one side got bailed out.

To be honest, I couldnt walk on a debt unless bankruptcy was the only choice. But there are a number of mortgages that were sold, and people kept paying the original debtor only to find someone new is telling them "no, pay us and your last 12 pymts are in arrears" (when they really are not)

Not to mention the bank (IIRCC it was BoA) who were caught not cashing cheques in order to downgrade someone into a different loan bracket.

Edited October 17, 2011 by guyser

[blueblood]

All true, except only one side got bailed out.

To be honest, I couldnt walk on a debt unless bankruptcy was the only choice. But there are a number of mortgages that were sold, and people kept paying the original debtor only to find someone new is telling them "no, pay us and your last 12 pymts are in arrears" (when they really are not)

Not to mention the bank (IIRCC it was BoA) who were caught not cashing cheques in order to downgrade someone into a different loan bracket.

There is consensus on the left and right that the bailouts were very controversial.

Since the usa still wanted a cheap money policy to keep prices going up. Labour prices, house prices etc. To do that there needs to be lots of credit. When people save money or cash in their stocks, the liquidity is gone. So the banks get bailed out with tax money/printing money. Its all for the short term and kicks the can down the road. I'd say let people save and deleverage debt and take the kick in the pants now.

It was the "cheapest" way to try and jumpstart the economy.

[capricorn]

Russell Simmons is co-founder, with Rick Rubin, of the pioneering hip-hop label Def Jam, and creator of the clothing fashion lines Phat Farm, Argyleculture, and American Classics.

He's the third richest figure in hip-hop, having a net-worth estimate of $340 million as of April 2011.

Here he is marching with the self described 99 percenters. He tells the interviewer: "This country is run by corporations...the rich get richer and the poor are suffering".

Hypocrite!

[jbg]

Anyways, back to what the media won't show you...

Protesters singing f**k the USA. How charming.

******

They continue to the win hearts and minds of the American people.

Well I agree with certain of their expressed views on educational and health policies. I disagree with what they're saying about U.S. policy in British Columbia.

[jbg]

Donald Reagan Regan- Head of Merrill Lynch, Sct'y of Treasury Ron Reagan presidency.(said to own Reagan)

Fixed it.

[jacee]

Russell Simmons is co-founder, with Rick Rubin, of the pioneering hip-hop label Def Jam, and creator of the clothing fashion lines Phat Farm, Argyleculture, and American Classics.

He's the third richest figure in hip-hop, having a net-worth estimate of $340 million as of April 2011.

Here he is marching with the self described 99 percenters. He tells the interviewer: "This country is run by corporations...the rich get richer and the poor are suffering".

Hypocrite!

Don't you mean 'turncoat', 'traitor' perhaps?

We can use more rich people who tell the truth.

[jacee]

I'm convinced socialism is a mental disorder. These responses are sickening. "You owe us what you've earned because you live in our society".

Sorry guys, the wealthy don't owe you anything. They paid for their right to live in this society through taxes (of which they paid a hell of a lot more than the protesters making these kinds of arguments).

Some of them don't pay enough.

Corporations don't pay enough.

The real problem is the growing income gap, the fact that wealth is streaming into fewer hands faster and faster. Where does that trend end? It doesn't ... unless we end it.

[bush_cheney2004]

...The real problem is the growing income gap, the fact that wealth is streaming into fewer hands faster and faster. Where does that trend end? It doesn't ... unless we end it.

Who is "we"? Keep your communism in Canada please, where it belongs!

[GostHacked]

It was the "cheapest" way to try and jumpstart the economy.

It's not to jump starting anything, it's just postponing the inevitable.

[capricorn]

Don't you mean 'turncoat', 'traitor' perhaps?

You're more gullible than I first imagined.

We can use more rich people who tell the truth.

Multi-millionaires like Simmons really don't give a crap. Simmons is a walking, talking advertisement of his corporate holdings and the goods they produce. His main objective in to make more money. And he will, because those who buy into the his fake empathy will also buy more of his stuff. Simmons is bound to become one of America's next billionaires and OWS has provided him one more advertisement opportunity to get there.

Same with celebrities like Susan Sarandon and Alec Baldwin who are itching to get their mugs in the media at the OWS protests. What's important to them is raising their personal profiles in the entertainment field so they can increase their wealth.

If that's the kind of truth you seek, you're being duped.

[blueblood]

It's not to jump starting anything, it's just postponing the inevitable.

That's why I put "try" in there.

[jacee]

You're more gullible than I first imagined.

Multi-millionaires like Simmons really don't give a crap. Simmons is a walking, talking advertisement of his corporate holdings and the goods they produce. His main objective in to make more money. And he will, because those who buy into the his fake empathy will also buy more of his stuff. Simmons is bound to become one of America's next billionaires and OWS has provided him one more advertisement opportunity to get there.

Same with celebrities like Susan Sarandon and Alec Baldwin who are itching to get their mugs in the media at the OWS protests. What's important to them is raising their personal profiles in the entertainment field so they can increase their wealth.

If that's the kind of truth you seek, you're being duped.

And you know that how?

Warren Buffett was the first protester.

[Guest American Woman]

All true, except only one side got bailed out.

I'm not sure about that. There are government programs that help people who've lost their jobs, who are down on their luck, sometimes because of choices they've made that they really shouldn't have. That could be perceived as 'being bailed out.'

The bail out didn't come at no cost - the government came out ahead, and "the government" having more money means there's more money to go to work for Americans. More money in the treasury is a good thing.

I still wonder what would have happened if the banks hadn't been bailed out; how we would have been affected.

To be honest, I couldnt walk on a debt unless bankruptcy was the only choice.

Same here, but I think some borrow with the 'oh well, if I can't make payments I'll just declare bankruptcy' mindset.

But there are a number of mortgages that were sold, and people kept paying the original debtor only to find someone new is telling them "no, pay us and your last 12 pymts are in arrears" (when they really are not)

I would appreciate some sources to read more about this. Mortgages are sold all the time, but not without people's knowledge, so seems to me if the first bank was keeping payments, and there were records that the payments were made, there would be legal repercussions.

Not to mention the bank (IIRCC it was BoA) who were caught not cashing cheques in order to downgrade someone into a different loan bracket.

Again, I would appreciate more information. Thank you.

[bush_cheney2004]

I'm not sure about that. There are government programs that help people who've lost their jobs, who are down on their luck, sometimes because of choices they've made that they really shouldn't have. That could be perceived as 'being bailed out.'

Yes, government has been "bailing out" individual people for a very long time at a total cost that dwarfs anything LOANED to Wall Street or GM/Chrysler. Specific to banking, we had a local bank failure and the government "bailed out" depositors through the insurance based FDIC program.

[cybercoma]

I would like to see the government program that allows someone who loses their job to actually make more that year in bonuses, you know... kind of like the bankers.

[blueblood]

I would like to see the government program that allows someone who loses their job to actually make more that year in bonuses, you know... kind of like the bankers.

We have that program, it's called contract law. Breach of contract means the lawyer's get let out of their cages. The bankers got posh contracts, that's an issue to be taken up with the board of directors at each bank.

[Shady]

And you know that how?

Warren Buffett was the first protester.

Oh, you mean the Warren Buffett that won't pay the taxes he owes under current tax law? The same Warren Buffett that's been fighting no to pay the taxes he owes for the last several years?

[guyser]

I would appreciate some sources to read more about this. Mortgages are sold all the time, but not without people's knowledge,

many times the borrower has no idea the note was sold. The get packaged and repackaged numerous times and then the borrower gets a letter from someone he has no idea who they are.

http://www.time.com/time/magazine/article/0,9171,2032110,00.html

http://www.businessweek.com/ap/financialnews/D9QEDB5G0.htm

http://www.consumerwarningnetwork.com/2008/06/19/produce-the-note-how-to/

http://www.cbsnews.com/stories/2011/04/01/60minutes/main20049646.shtml

[GostHacked]

I'm not sure about that. There are government programs that help people who've lost their jobs, who are down on their luck, sometimes because of choices they've made that they really shouldn't have. That could be perceived as 'being bailed out.'

There were many bad choices by the banks and financial institutions as well. But again, only one side got the bail out.

The bail out didn't come at no cost - the government came out ahead, and "the government" having more money means there's more money to go to work for Americans. More money in the treasury is a good thing.

All that on the taxpayer's dime!

I still wonder what would have happened if the banks hadn't been bailed out; how we would have been affected.

That's the catch really. Let those crap banks fail and things will hurt for some time. Or postpone the inevitable and have it hurt much much more for much much longer. You gotta know when to fold them and walk away.

Same here, but I think some borrow with the 'oh well, if I can't make payments I'll just declare bankruptcy' mindset.

That is a factor, but those banks did things in a way that it would not matter, so they were able to cover those losses. But I guess in reality, they did not cover the losses at all.

I would appreciate some sources to read more about this. Mortgages are sold all the time, but not without people's knowledge, so seems to me if the first bank was keeping payments, and there were records that the payments were made, there would be legal repercussions.

That would be getting into the whole derivatives market. And it's pretty complex and well, baffling and wtf-ish once you get an idea of how they played this game.

[Shady]

More glorious stuff from the occupy protesters.

"F*ck the military, f*ck your flag, f*ck the police."

[jbg]

More glorious stuff from the occupy protesters.

"F*ck the military, f*ck your flag, f*ck the police."

I find most of those comments very incisive and constructive.

[Guest American Woman]

Well at least they're proud to be white. Good to know they're proud of something.

Interesting to note, I think, that the *ahem* gentleman in question kept referring to it as "your flag" ... as in "fuck your flag." It's his flag too.

[cybercoma]

I didn't realize these were official statements voted upon and agreed to by the General Assembly of OWS. They must be, since you're all acting as though this moron's remarks speak for every protestor out there. That wouldn't be anything like saying the Phelps Family speaks for all Christians though, would it?

[Guest American Woman]

I didn't realize these were official statements voted upon and agreed to by the General Assembly of OWS. They must be, since you're all acting as though this moron's remarks speak for every protestor out there. That wouldn't be anything like saying the Phelps Family speaks for all Christians though, would it?

Ummmmmm. I commented on the people in the video. Anything else is in your mind.

Edited October 23, 2011 by American Woman

[jbg]

I didn't realize these were official statements voted upon and agreed to by the General Assembly of OWS. They must be, since you're all acting as though this moron's remarks speak for every protestor out there. That wouldn't be anything like saying the Phelps Family speaks for all Christians though, would it?

Ummmmmm. I commented on the people in the video. Anything else is in your mind.

I don't find his statements to be moronic at all. I may not agree with all of what he said but he made a lot of sense and was very perceptive.