Anonymous
Post 10/04/2011 10:47     Subject: Re:Occupy Wall St. & the 99%
Anonymous wrote:
Anonymous wrote:When I think about the Wall Street crash of '08, watch the documentary "Inside Job", I get sooo angry that NO ONE was held accountable for their actions. I hope more and more people get ANGRY and vote in '12 to fire the politicians in bed with corporations.


You mean the Republicans and the Democrats?
I guess that leaves us with Bernie Sanders, maybe.


There are a few more than that, actually. There are probably 2 Republicans who aren't enabling pieces of shit. There are probably about 20-30 Democrats who aren't. The main difference is that the Democrats are cowards. Whereas enabling the plutocrats to rape our country is pretty much an essential part of the Republican philosophy.
Anonymous
Post 10/04/2011 10:22     Subject: Occupy Wall St. & the 99%
Anonymous wrote:The financial crisis in the US was sparked by too many people taking mortgages that they shouldn't have. They blame the banks for lending them the money. Note, they also complain when the banks don't lend money.

CDO, derivatives, blah blah blah....that stuff was all predicated on too many dumbasses taking out mortgages without understanding what they were signing up for. Yes, there was mortgage fraud, brokers, etc. Where is the responsibility for all these people that made dumb mistakes with their mortgages?


No one denies that. But what does that have to do with Goldman insuring their own products as they expected failure. What does that have to do with the banks not telling these folks, no loan. That is thier job. There have always been high risk applicants, in the past they were told that they would not get a loan.
Anonymous
Post 10/04/2011 08:30     Subject: Occupy Wall St. & the 99%
Anonymous wrote:The financial crisis in the US was sparked by too many people taking mortgages that they shouldn't have. They blame the banks for lending them the money. Note, they also complain when the banks don't lend money.

CDO, derivatives, blah blah blah....that stuff was all predicated on too many dumbasses taking out mortgages without understanding what they were signing up for. Yes, there was mortgage fraud, brokers, etc. Where is the responsibility for all these people that made dumb mistakes with their mortgages?


It wasn't the mortgages failures that caused the problem-- we had massive mortgage failures before and it cost a lot of money to clean up (remember the S&Ls?) but didn't threaten the entire economy. What caused the financial crisis was the greedy idiots promising everyone that no one would ever default on a mortgage ever, and then other greedy idiots effectively issuing insurance based the same stupid idea when there was no way they could afford to pay out on the insurance (they wanted to collect the premiums and figured they'd never have to pay anything-- who da thought that's not a good idea).
Anonymous
Post 10/04/2011 00:25     Subject: Occupy Wall St. & the 99%
Anonymous wrote:The financial crisis in the US was sparked by too many people taking mortgages that they shouldn't have. They blame the banks for lending them the money. Note, they also complain when the banks don't lend money.

CDO, derivatives, blah blah blah....that stuff was all predicated on too many dumbasses taking out mortgages without understanding what they were signing up for. Yes, there was mortgage fraud, brokers, etc. Where is the responsibility for all these people that made dumb mistakes with their mortgages?


No, you are wrong.

People taking mortgages they couldn't afford was half of the problem. But the reason they could get money was because the people issuing and then securitizing these loans were lying to the investment community about their quality. And often they were actively betting against them in the form of derivatives.

The consumer was a fool and occasionally a fraudster. The financial players were really committing serious fraud.
Anonymous
Post 10/03/2011 23:43     Subject: Occupy Wall St. & the 99%
The financial crisis in the US was sparked by too many people taking mortgages that they shouldn't have. They blame the banks for lending them the money. Note, they also complain when the banks don't lend money.

CDO, derivatives, blah blah blah....that stuff was all predicated on too many dumbasses taking out mortgages without understanding what they were signing up for. Yes, there was mortgage fraud, brokers, etc. Where is the responsibility for all these people that made dumb mistakes with their mortgages?
Anonymous
Post 10/03/2011 22:52     Subject: Re:Occupy Wall St. & the 99%
Anonymous wrote:
Anonymous wrote:When I think about the Wall Street crash of '08, watch the documentary "Inside Job", I get sooo angry that NO ONE was held accountable for their actions. I hope more and more people get ANGRY and vote in '12 to fire the politicians in bed with corporations.


"Long viewed as a bureaucratic backwater, the F.D.I.C. has had a tumultuous five years while being transformed under Bair’s stewardship. Not long after she took charge in June 2006, Bair began sounding the alarm about the dangers posed by the explosive growth of subprime mortgages, which she feared would not only ravage neighborhoods when homeowners began to default — as they inevitably did — but also wreak havoc on the banking system. The F.D.I.C. was the only bank regulator in Washington to do so."

http://www.nytimes.com/2011/07/10/magazine/sheila-bairs-exit-interview.html?pagewanted=1&_r=1&hp&adxnnlx=1310241708-E3TJuKB9mhTh1Nl5Po%20lHg


Yes, Sheila Bair rocked. Too bad she stepped down.
And so do Brooksley Borne and Elizabeth Warren.

Is it only the women who have any balls when it comes to regulating the financial industry?
Anonymous
Post 10/03/2011 22:45     Subject: Occupy Wall St. & the 99%
Anonymous wrote:
Anonymous wrote:Do you really think these people are going to accomplish anything? I think you're all delusional.
I can imagine the Goldman Sachs and JP Morgan crowd staring at them in amusement from their office windows, watching the police take them into custody for blocking traffic for a few minutes.

Ha ha ha.


When people get really angry, they don't stop at protests, so yes, I think that Sachs and Morgan will eventuall take it seriously.


and then what? Call their minions in Albany and have the National Guard unleashed on the crowds?
Anonymous
Post 10/03/2011 22:38     Subject: Re:Occupy Wall St. & the 99%
Thank you for your "let them eat cake" post. Wall Streeters should have their heads handed to them.


There is a lot of that going around. Part of the new civility, I suppose.

http://www.youtube.com/watch?v=KaU3wX6N1Tc&feature=player_embedded

Roseanne Barr replied: “It’s part of it. Part of my platform is, of course, that the guilty must be punished and that we can no longer let our children see the guilty get away with murder. Because it teaches them that they don’t have to have any morals and as long as they have guns and are bullies that they’ll win. And I don’t think that’s a good message. I do say that I am for the return of the guillotine and that is for the worst of the worst of the guilty.”

She added: “I first would allow the guilty bankers the ability to pay back anything over $100 million personal wealth because I believe in a maximum wage of $100 million. And if they are unable to live on that amount then they should go to the re-education camps and if that doesn’t help then be beheaded.”


The net worth of Roseanne about 60 million.

Maybe she'll join the protesters out in NY City...

Anonymous
Post 10/03/2011 14:29     Subject: Occupy Wall St. & the 99%
Anonymous wrote:Do you really think these people are going to accomplish anything? I think you're all delusional.
I can imagine the Goldman Sachs and JP Morgan crowd staring at them in amusement from their office windows, watching the police take them into custody for blocking traffic for a few minutes.

Ha ha ha.


When people get really angry, they don't stop at protests, so yes, I think that Sachs and Morgan will eventuall take it seriously.
Anonymous
Post 10/03/2011 13:10     Subject: Occupy Wall St. & the 99%
I was going to occupy my local BofA branch for the afternoon, but apparently the bank will impose a fee for that, too!
Anonymous
Post 10/03/2011 12:20     Subject: Occupy Wall St. & the 99%
Hmm, do you think the American people can hire some lobbyists to get them heard in Congress?!
Anonymous
Post 10/03/2011 12:18     Subject: Occupy Wall St. & the 99%
Anonymous wrote:Do you really think these people are going to accomplish anything? I think you're all delusional.
I can imagine the Goldman Sachs and JP Morgan crowd staring at them in amusement from their office windows, watching the police take them into custody for blocking traffic for a few minutes.

Ha ha ha.


Thank you for your "let them eat cake" post. Wall Streeters should have their heads handed to them.
Anonymous
Post 10/03/2011 10:33     Subject: Re:Occupy Wall St. & the 99%
It's the first time i have felt angry enough to protest in 25 years. I support the 99%. And I'm a upper middle class lawyer.
TheManWithAUsername
Post 10/03/2011 08:26     Subject: Re:Occupy Wall St. & the 99%
Anonymous wrote:
Anonymous wrote:When I think about the Wall Street crash of '08, watch the documentary "Inside Job", I get sooo angry that NO ONE was held accountable for their actions. I hope more and more people get ANGRY and vote in '12 to fire the politicians in bed with corporations.


You mean the Republicans and the Democrats?
I guess that leaves us with Bernie Sanders, maybe.

Bernie Sanders, definitely. (Please don't tell me something bad about one of the few politicians for whom I have any regard.)
Anonymous
Post 10/02/2011 22:45     Subject: Re:Occupy Wall St. & the 99%
Anonymous wrote:When I think about the Wall Street crash of '08, watch the documentary "Inside Job", I get sooo angry that NO ONE was held accountable for their actions. I hope more and more people get ANGRY and vote in '12 to fire the politicians in bed with corporations.


"Long viewed as a bureaucratic backwater, the F.D.I.C. has had a tumultuous five years while being transformed under Bair’s stewardship. Not long after she took charge in June 2006, Bair began sounding the alarm about the dangers posed by the explosive growth of subprime mortgages, which she feared would not only ravage neighborhoods when homeowners began to default — as they inevitably did — but also wreak havoc on the banking system. The F.D.I.C. was the only bank regulator in Washington to do so."

http://www.nytimes.com/2011/07/10/magazine/sheila-bairs-exit-interview.html?pagewanted=1&_r=1&hp&adxnnlx=1310241708-E3TJuKB9mhTh1Nl5Po%20lHg