Occupy Wall Street

[johno]

[youtube]http://www.youtube.com/watch?v=4QTfNEDgusQ[/youtube]

^^^This. ^^^That. And


And \/ \/ \/

[Swamp Fox]

The problem is that "too big to fail" means only one thing: They have powerful friends in DC. No one bank (or car company, etc.) is so big that it's bankruptcy would cause the sky to fall even now. They're just big enough that they know their friends would save them, and they act accordingly. It's not an anti-trust issue; it's a political economy issue.

The angry art history majors of NY are protesting in the wrong place. They should be borrowing their mothers' cars to join their brethren in DC.

I will certainly defer to your economic knowledge; Pinky.

While the dingle berries protesting in Wall Street are not likely to accomplish anything; they have at least made a visual impact that should be getting the attention of the DC Power Brokers.

If anyone should manage to get them pointed in the right direction we stand a small chance of changing the current corrupt political landscape. I fear that we will only continue a downward spiral until that happens. How do we get this angry mob to move to DC?!?

[Fat Cat]

What they should do is storm Goldman Sachs.

[Herv100]

It's interesting Rant is writing the same things you are, Pac.

It's hilarious considering 4 years ago he endorsed fucking Rudy Giuliani for prez

[Fuzzy Dunlop]

Well, the only debt I have is a mortgage which is ahead of schedule and I'm pissed at all the whining fucking poor people who bought houses that they couldn't afford. Their failure to pay their debts has ruined our economy

Fixed*

[The Ginger Beard Man]

It's interesting Rant is writing the same things you are, Pac.

He can't be Rant. Read for syntax, not content.

[Turdacious]

There's a child-like comfort for them to think that they're "doing something". But what we're seeing with this is a spectacular crash of unrealistic expectations on the rocks of real life.

This Generation Y / (Z?) expect to get at least as far as their parents. But they won't. They're fucked because they know what a good standard of living is possible for the few, they want it, they "sort of" try by getting shitty over-priced shitty degrees and then it dawns on them that they're going backwards. That's frustrating. They think they're blameless so they go through the anger and then look for someone to blame. Wall St has money so it must be guilty, right?

Wrong. The people who are guilty are the lazy, sheeple fuckwits who borrowed multiples of earning power for shitty qualifications. The guilty are the parents of these fuckwits who watched this happen and did nothing. And it's the parents, kids and the rest of the US which allows capitalism to run amok and control your apparatus of state. The people who vote for one of two identical parties. A country which is in denial that it is riding the downward crest of an orgy of exploitation of oil and resource that is running out.

The people paid for your stay at Dammash. Calm down Rant.

[Fuzzy Dunlop]

[youtube]http://www.youtube.com/watch?v=MrYH4TnbSjk[/youtube]

[Holland Oates]

[The Venerable Bogatir X]

Well, the only debt I have is a mortgage which is ahead of schedule and I'm pissed at the damage banks and derivatives have done to our economy so I am a counterexample to your angry and inaccurate post.

I got into my house 8 years ago as a 'B Paper' ARM loan when they were handing out mortgages. I bought a home for 60k less than I was qualified for--which was perhaps one of the five smartest things I've done in my life. It did not sit well in my gut at all to max out that loan...and back then no one thought the ARM's would adjust up. People a lot smarter than me got greedy with the easy paper. People a lot dumber than me got greedy with the easy paper, too. Soon thereafter, I found my monthly nut jumping (I think every 6 months, IIRC) and I was stuck in that ARM for three years before I could refi.

What did I do? I got busy and out earned my ARM and we struggled like hell for several years. I would have worked nights in a gas station or Mickey D's if need be to pay my bills. So many people have defaulted because they can't scrounge up another 300-400 bucks and that's just bullshit. People who maxed out their loans to get into homes they could never afford (and especially so if shit hit the fan) are much more at fault than banks/financial services groups who were peddling the loans at that time.

I have never set foot in a college classroom and I have been in every tax bracket save the top two. These days, my wife doesn't work and stays at home/cares for the kids. We live somewhat modestly, but still manage to dine out 5+ times per month, pay bills, have fun and drive a 2011 Dodge Ram Bighorn (with the HEMI motherfuckers!)

I choose to not be the '99%' by getting shit done, as does my entire peer group. I think the 99% is more like the bottom 30% who wants it handed to them instead of rolling up sleeves and getting busy (like their grandparents and/or great grandparents did). I've made a ton of bad decisions but honest effort, drive and pride fixes all of that.

Banks, politicians, et al, should shoulder their fair share of blame, but a little personal accountability and hard looks in the mirror by (most) of the desperate in America is in order. I'm guessing most of those protesters are thinking taking orders in McDonald's or Starbucks is beneath them.

[Fat Cat]

All of what you say is very honorable. You have also served your country, as well as being a star in the cinematic firmament, but don't you feel some level of resentment towards multimillionaire accountants who have damaged the nation in the service of short term greed? Also, factually speaking, you cannot "choose not to be the 99%", you are and you will pay for the damages they have incurred.

[Batboy2/75]

All of what you say is very honorable. You have also served your country, as well as being a star in the cinematic firmament, but don't you feel some level of resentment towards multimillionaire accountants who have damaged the nation in the service of short term greed? Also, factually speaking, you cannot "choose not to be the 99%", you are and you will pay for the damages they have incurred.

Why do you insist on giving the politicians a big fucking pass? The reason we're in the mess we're in is the the government bailed everyone out. The politicians encouraged banks to loan money to those that couldn't afford them, implied the government would back the loans via Freddie mack and fanny mae etc, and then bailed everyone out.

Instead of letting the free market punish the shit out of those involved, the USA tax payer came to rescue.

And it's not over, the next bubble is the education bubble and these protests are the first symptom of the upcoming bust. Again, dumb ass politicians are encouraging people to go to college, don't really care if study something useful, and have backed the student loans that pay for the whole scheme.

The main reason the cost of a college education is out of fucking control and far far outpaced inflation is the Federal government is backing the entire system with taxpayer backed student loans and grants. Why should higher education control costs etc, the federal government keeps on providing an endless stream of students and taxpayer money to fund everything? However, no one ever rails against the greedy ass higher education industrial complex executives that are ripping off the average american taxpayer.

The sad sack hipster douchebags protesting are the end result of this failed everyone go to college fantasy the USA has been engaging in since the end of WWII. The occupy wallstreet dip shits are just the tip of the iceburg. All these sad sack gender studies, art, leisure studies, african american or (insert victim group) studies majors in debt up to their eyeballs, have no marketable skills, no work ethic, and are are royaly fucked. The hister douches are just the canaries in the coal mine, wait until the economy is so bad, people with actual skills can't pay their student loans.

The politicians and their investment banker friends engage in gangster/crony capitalism amd socialism,the exact opposite of a free market, and then blame free markets for the mess. It's almost comical, if it wasn't so fucking sad.

BTW- fuck this 99% BS. Fully 50% or more of this country believes in a free ride and spending other people money on fantasies. They're just pissed that we're running out of other peoples money (tax payers money and those still stupid/desperate enough to by our debt) to fund their fantasy socialist lifestyles. They don't want to fix anything. They want the ride to continue.

[Holland Oates]

What do these yahoos do for a living that allows them to stand around Wall Street all day?

And when did having a degree automatically mean you get a job making $100k+ a year working less than 40 hours a week?

I'm a less than adequate male by IGX standard since I don't make more than $100k a year but I make more than about 90% of the people I know who have college degrees. But that's just an example of how shitty the job market is around here. Granted I have to work crazy hours with no set days off at times but that's part of life.

[The Ginger Beard Man]

All of what you say is very honorable. You have also served your country, as well as being a star in the cinematic firmament, but don't you feel some level of resentment towards multimillionaire accountants who have damaged the nation in the service of short term greed? Also, factually speaking, you cannot "choose not to be the 99%", you are and you will pay for the damages they have incurred.

Actually, factually speaking, "99%" is a bullshit construction of the left. I am not the fucking masses. I have free fucking will. I never bought a house I couldn't afford. I take responsibility for my failures so far in life.
Am I pissed about the relationship between government and big business? Of course I am. That doesn't mean that my only choice is to join a protest of useful idiots who lack solutions, and who lack the ability to even look beneath the surface and see the causes of the problems.

[Holland Oates]

Actually, factually speaking, "99%" is a bullshit construction of the left. I am not the fucking masses. I have free fucking will. I never bought a house I couldn't afford. I take responsibility for my failures so far in life.
Am I pissed about the relationship between government and big business? Of course I am. That doesn't mean that my only choice is to join a protest of useful idiots who lack solutions, and who lack the ability to even look beneath the surface and see the causes of the problems.

This echoes my sentiments exactly.

[Thatcher II]

What do these yahoos do for a living that allows them to stand around Wall Street all day?

And when did having a degree automatically mean you get a job making $100k+ a year working less than 40 hours a week?

I'm a less than adequate male by IGX standard since I don't make more than $100k a year but I make more than about 90% of the people I know who have college degrees. But that's just an example of how shitty the job market is around here. Granted I have to work crazy hours with no set days off at times but that's part of life.

Hi Rant!

[Holland Oates]

LOL

Not the first time I've been called Rant.

[Turdacious]

Interesting that fatty finds so much commonality between his beliefs and those of the protestors.

[johno]

The reason we're in the mess we're in is the the government bailed everyone out. The politicians encouraged banks to loan money to those that couldn't afford them, implied the government would back the loans via Freddie mack and fanny mae etc, and then bailed everyone out.

The bankers couldn't have made their Derivative Shit Sandwiches without the Shit Mortgages backed by Freddie & Fannie, and encouraged by (mostly Dem) politicians.

"Occupy Wall Street" is a herd of useful idiots.
What does it tell you that they won't move at least one step up the food chain to occupy Franklin Raines's hood.

He is accused by The Office of Federal Housing Enterprise Oversight (OFHEO), the regulating body of Fannie Mae, of abetting widespread accounting errors, which included the shifting of losses so senior executives, such as himself, could earn large bonuses.[5]
...
In 2003 alone, Raines's compensation was over $20 million.[11]

http://en.wikipedia.org/wiki/Franklin_Raines

[TerryB]

But we're told CEOs deserve that kind of money and their salaries are set by the free market.

[The Ginger Beard Man]

But we're told CEOs deserve that kind of money and their salaries are set by the free market.

Who gets to say what anyone deserves to be paid?
You can make that argument about any job.

[Fat Cat]

Why do you insist on giving the politicians a big fucking pass? The reason we're in the mess we're in is the the government bailed everyone out. The politicians encouraged banks to loan money to those that couldn't afford them, implied the government would back the loans via Freddie mack and fanny mae etc, and then bailed everyone out.

Where have you been the past decade? I have never given politicians a pass, your statement is baseless. Nevertheless, the corporations must also be held no less accountable.

Instead of letting the free market punish the shit out of those involved, the USA tax payer came to rescue.

Illogical. It was unregulated free market which created this situation. The cure for poison is not more poison, no matter how much it would serve your ideological needs.

And it's not over, the next bubble is the education bubble and these protests are the first symptom of the upcoming bust. Again, dumb ass politicians are encouraging people to go to college, don't really care if study something useful, and have backed the student loans that pay for the whole scheme.

I have mixed feelings about this. On the one hand I agree that getting overextended for a pointless degree is wasteful, on the other hand a well educated population serves the needs of the country. At any rate, it is the topic of another discussion.

The main reason the cost of a college education is out of fucking control and far far outpaced inflation is the Federal government is backing the entire system with taxpayer backed student loans and grants. Why should higher education control costs etc, the federal government keeps on providing an endless stream of students and taxpayer money to fund everything? However, no one ever rails against the greedy ass higher education industrial complex executives that are ripping off the average american taxpayer.

Again, you've decided to talk about what you want to talk about, rather than the discussion at hand. Also, federal student loans are non-defaultable, meaning you can't get out of paying them back plus interest even if you declare bankruptcy.

The sad sack hipster douchebags protesting are the end result of this failed everyone go to college fantasy the USA has been engaging in since the end of WWII. The occupy wallstreet dip shits are just the tip of the iceburg. All these sad sack gender studies, art, leisure studies, african american or (insert victim group) studies majors in debt up to their eyeballs, have no marketable skills, no work ethic, and are are royaly fucked. The hister douches are just the canaries in the coal mine, wait until the economy is so bad, people with actual skills can't pay their student loans.

It is easy to demonize people rather than listen to them, that's your choice, but simply saying "hipster douchbags" doesn't make it so, and "hipster douchbags" are part of the American political landscape whether you like it or not.

The politicians and their investment banker friends engage in gangster/crony capitalism amd socialism,the exact opposite of a free market, and then blame free markets for the mess. It's almost comical, if it wasn't so fucking sad.

Yes, and what drives it is corporate personhood and the way your beloved conservative supreme court allows corporations to pour unlimited money into the political process. Here's what Teddy Roosevelt had to say about that: "Let individuals contribute as they desire; but let us prohibit in effective fashion all corporations from making contributions for any political purpose, directly or indirectly." As it stands, corporations like Goldman Sachs and Barclay's have all the rights and freedoms of individuals, but none of the responsibilities. Does it really sit well with you that Exxon and GE pay no income taxes while posting $19 billion in profits last year?

See: http://blogs.suntimes.com/sweet/2011/03 ... oidin.html

BTW- fuck this 99% BS. Fully 50% or more of this country believes in a free ride and spending other people money on fantasies. They're just pissed that we're running out of other peoples money (tax payers money and those still stupid/desperate enough to by our debt) to fund their fantasy socialist lifestyles. They don't want to fix anything. They want the ride to continue.

Nonsense. Most of the people in this country DO believe that corporate money should not dominate the political process and that they should be held accountable. At least politicians can and do get voted out of office.

[Fat Cat]

http://www.msnbc.msn.com/id/44027203/ns ... pdKSHK3OCg

[TerryB]

Why do you insist on giving the politicians a big fucking pass? The reason we're in the mess we're in is the the government bailed everyone out. The politicians encouraged banks to loan money to those that couldn't afford them, implied the government would back the loans via Freddie mack and fanny mae etc, and then bailed everyone out.

Where have you been the past decade? I have never given politicians a pass, your statement is baseless. Nevertheless, the corporations must also be held no less accountable.

Instead of letting the free market punish the shit out of those involved, the USA tax payer came to rescue.

Illogical. It was unregulated free market which created this situation. The cure for poison is not more poison, no matter how much it would serve your ideological needs.

And it's not over, the next bubble is the education bubble and these protests are the first symptom of the upcoming bust. Again, dumb ass politicians are encouraging people to go to college, don't really care if study something useful, and have backed the student loans that pay for the whole scheme.

I have mixed feelings about this. On the one hand I agree that getting overextended for a pointless degree is wasteful, on the other hand a well educated population serves the needs of the country. At any rate, it is the topic of another discussion.

The main reason the cost of a college education is out of fucking control and far far outpaced inflation is the Federal government is backing the entire system with taxpayer backed student loans and grants. Why should higher education control costs etc, the federal government keeps on providing an endless stream of students and taxpayer money to fund everything? However, no one ever rails against the greedy ass higher education industrial complex executives that are ripping off the average american taxpayer.

Again, you've decided to talk about what you want to talk about, rather than the discussion at hand. Also, federal student loans are non-defaultable, meaning you can't get out of paying them back plus interest even if you declare bankruptcy.

The sad sack hipster douchebags protesting are the end result of this failed everyone go to college fantasy the USA has been engaging in since the end of WWII. The occupy wallstreet dip shits are just the tip of the iceburg. All these sad sack gender studies, art, leisure studies, african american or (insert victim group) studies majors in debt up to their eyeballs, have no marketable skills, no work ethic, and are are royaly fucked. The hister douches are just the canaries in the coal mine, wait until the economy is so bad, people with actual skills can't pay their student loans.

It is easy to demonize people rather than listen to them, that's your choice, but simply saying "hipster douchbags" doesn't make it so, and "hipster douchbags" are part of the American political landscape whether you like it or not.

The politicians and their investment banker friends engage in gangster/crony capitalism amd socialism,the exact opposite of a free market, and then blame free markets for the mess. It's almost comical, if it wasn't so fucking sad.

Yes, and what drives it is corporate personhood and the way your beloved conservative supreme court allows corporations to pour unlimited money into the political process. Here's what Teddy Roosevelt had to say about that: "Let individuals contribute as they desire; but let us prohibit in effective fashion all corporations from making contributions for any political purpose, directly or indirectly." As it stands, corporations like Goldman Sachs and Barclay's have all the rights and freedoms of individuals, but none of the responsibilities. Does it really sit well with you that Exxon and GE pay no income taxes while posting $19 billion in profits last year?

See: http://blogs.suntimes.com/sweet/2011/03 ... oidin.html

BTW- fuck this 99% BS. Fully 50% or more of this country believes in a free ride and spending other people money on fantasies. They're just pissed that we're running out of other peoples money (tax payers money and those still stupid/desperate enough to by our debt) to fund their fantasy socialist lifestyles. They don't want to fix anything. They want the ride to continue.

Nonsense. Most of the people in this country DO believe that corporate money should not dominate the political process and that they should be held accountable. At least politicians can and do get voted out of office.

very exciting post, Fat Cat!

[Testiclaw]

http://www.businessinsider.com/what-wal ... 11-10?op=1

Worth reading. It even has big graphs for you right-wing fucks.