Sep 24, 2011 8:14 AM GMT
Face Off at 55 Wall Street
Face Off at 55 Wall Street
Inostrankan saidIf these people were real activists and wished to effect actual change they might have taken over a part of Central Park and transformed it into a communal farming operation or something.
Do you have any ability to actually form sentences that reflect your own thoughts? Or are you only able to communicate with others via "copy and paste?"
heybreaux saidI have a feeling why this is not getting much traction is the concept is a little silly. Wall street, while it played a role, is not by far the only party to this debacle and to shout out loud in the streets isn't coming anywhere near the problem.
Wall street is guilty of two things. 1. Securitization of mortgage backed securities and 2. trading heavily in these securities (and ruining their own balance sheets by doing so). So, if Wall Street really had a motive of stealing from people, do you really think that all 6 of the investment banks would have been caught dead with trillions in "toxic assets"? The truth is these asset's values went down because there were no buyers when the fear struck. Does not mean that they are not worth anything? Are all homes worthless now?
When the fed took them over and bought up and placed the most toxic assets in the Maiden Lane trusts, did you know that the Fed reported a 76 billion quarterly profit? Compare this profit to the best quarter ever for any company, ever. Do you also know that they returned that profit to the treasury? Do you also know that the ~$350 billion bailout money was paid back and ultimately was really a device to stop the hedge funds from shorting the banks until the values of these assets could be determined? Did you know that the other $350 billion of the bailout is earmarked for spending and has largely not been yet spent?
What exactly are they protesting? What about the large amount of people who took out mortgages they could not afford? We have all read the stories of the alleged revolving door of washington and wall street, but if you really look at it critically, it is impossible for this sinister conspiracy to have played out quite the way the Huffing Puffs are saying. But the Huffing Puffs sure are selling news! --to the same people that don't understand math, no doubt.
If anyone still does not see how interconnected they are to the capital markets, then go on and continue protesting yourselves...what can I say it is just as retarded as the consumer who alleges that they didn't know that an adjustable mortgage .....(wait for it...) ...Adjusts!
Maybe we should protest math teachers? or realtors who say that real estate always goes up? or individuals that buy things they cannot afford? Of bloggers who claim that they are against the corporate interest and then sell themselves to them, you dirty girl, Ms. Muffington.
Stop beating yourselves up America, and learn from your mistakes. Making the capital system fail at this point, negative nelly, is only going to make your life far worse...
Here's an idea: Let's kill all the banks that way when they all fail (2nd time around) the resulting bankruptcies will actually have to be paid by taxpayers for real. Then when we go into a deep depression that weakens us so much we will have China occupy and overthrow our government, then everyone will not have to deal with that revolving door any more. Make sense to me, although I don't know why anyone would want to do that. Do these idiot protestors think they can do a better job in Washington? They don't even understand what they are protesting.
It is clear that America does not know what Wall Street is...Oh and now we have a conspiracy of "media black out" because it isn't getting panic level coverage like the "alleged" gridlock in Washington which is really trimming back entitlements on the DL. If you'll notice, they always seem to make a deal just before a shutdown...wow, just in the nick of time, shucks!
These "face offs" are clearly theatre. Get over it, peeps. It makes a real protest look cheap. We have a lot bigger problems to solve.
And my dear Metta, you receive the award for distinguished achievement in posting news (Even if it does not make the news)
southbeach1500 saidMeOhMy saidAwesome.
It is now becoming Occupy the Nation, and hopefully soon with solidarity movements in Canada and elsewhere. After all, Wall Street has not only helped destroy America, but it has been a main force and power behind the oppression, plundering, and destruction of the world as a whole, so it is in the interest of the entire world that Occupy Wall Street continues and expands.
So wish I could be there!
Thanks for the laugh.