Main Street turns against Wall Street ....A populist backlash is changing America's political climate. Inflamed by the financial crisis and bailouts, a form of class warfare could haunt business leaders for years to come.

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    Sep 29, 2008 2:27 AM GMT
    "...the implosion of Wall Street, followed by Paulson's escalating series of multibillion-dollar rescues, has fired up populist sentiments that were already building in American politics, promising to reshape legislative battles over everything from tax and trade policies to federal regulation. Union leaders like the AFL-CIO's John Sweeney suddenly sound as if they're in the mainstream of public opinion with statements like this: "One thing is certain. No one - no politician, no investment banker, no television commentator, no economist - should be able to say again with a straight face that here in the United States we just let markets do whatever markets do and everything works out for the best."

    http://money.cnn.com/2008/09/26/news/economy/easton_backlash.fortune/index.htm?postversion=2008092810

    This will have social ramifications, too, I expect. ...The end of Conservative Rule! ...the end of christian "we have the only answer."

    animal
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    Sep 29, 2008 4:25 AM GMT
    Caslon, your cat pictures annoy the hell out of me, but this one has made up for all of them! icon_biggrin.gif
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    Sep 29, 2008 4:33 AM GMT
    I think I'll wait to hold judgement. The masses are clearly angry, but what they'll do or where they'll go remains to be seen. I'm not sure that even they know where things will take them.

    Anyway, interesting times....
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    Sep 29, 2008 4:40 AM GMT
    Not that I am saying that heads should roll, but it would certainly be about time. If anything, I would hope that people get involved in their government and limit the interaction of corporations and wealth with government.
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    Sep 29, 2008 5:23 AM GMT
    I think pelosi said it well today- the golden parachutes for executives of failing companies need to disappear. No more $100M severance packages factored into insolvency settlements. The rich need to pay as much as those losing their jobs in offices across america.
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    Sep 29, 2008 5:27 AM GMT
    I'm sure you'll all have forgotten about it by the time the next American Idol rolls on by.
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    Sep 29, 2008 5:33 AM GMT
    redheadguy saidI'm sure you'll all have forgotten about it by the time the next American Idol rolls on by.
    I hate that show icon_mad.gif
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    Sep 29, 2008 5:41 AM GMT
    SHOULD CONGRESS BAILOUT WALL STREET TO HELP MAIN STREET?

    The Bush Administration proposes a $700 billion bailout to restore confidence in the economic system so banks start lending again. Without that, many other banks and businesses (and the jobs and mortgages) will fail they say. Critics say we shouldn't reward their bad decisions. Democrats say the plan needs oversight, homeowner protections and caps on executives' salaries. What do you think? Act quickly as the Administration wants a vote within days. Consider a hand delivered letter with Extra Impact. Start by picking your view in our Action Poll. (86,134 messages thus far)

    9% say I Support the $700 Billion Mortgage Bailout
    91% say I Oppose the $700 Billion Mortgage Bailout


    They passed it even when on congress poll it was 9% for it.....
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    Sep 29, 2008 6:20 AM GMT
    Azstreaker saidSHOULD CONGRESS BAILOUT WALL STREET TO HELP MAIN STREET?
    I think either way we are screwed, its just which way are we screwed worse. One article suggested that if there was no help, it would mean a depression, with at least several millions of jobs lost .. and rippling through the world economy. I would have to look at it more.
  • GQjock

    Posts: 11649

    Sep 29, 2008 9:56 AM GMT
    So the next time a Republican Snake oil salesman gets on mike and says...

    "We're gonna make you rich. Just give us your Social Security payments and we'll invest them for ya"

    Whaddya gonna say?
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    Sep 29, 2008 10:36 AM GMT
    5537B00B saidCaslon, your cat pictures annoy the hell out of me, but this one has made up for all of them! icon_biggrin.gif

    Yeah, well, your pic annoys the hell out of me (could you take a goofier-ass looking picture?...I mean, srsly!) and you have done nothing to make up for it. ...
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    Sep 29, 2008 11:36 AM GMT
    This contagion is now spreading further, European bank Fortis is going under because of its exposure to sub-prime mortgages and in the UK another bank, Bradford & Bingley is being "nationalised" with its savings accounts being sold to Spanish bank Santander. A year ago this would have been impossible because of anti-competition laws but now it seems anything goes.

    I think we're in for a deep depression and I don't think the bail-outs are going to help the situation because the debts are everywhere in the banking system.
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    Sep 29, 2008 11:43 AM GMT
    Azstreaker said
    They passed it even when on congress poll it was 9% for it.....


    Which is why a lot of the House Republicans objected to the bill. Not because they didn't support their Wall St pals, but because they want to get re-elected - even though they can use the voting machines to cheat, i.e. here in Ohio and the uneven/unfair distribution of voting machines in 2004 and 2006 via Ken Blackwell.

    I say vote out anyone who voted for it. I still don't support the bill. Even with the protections provisions. I think it's a bad idea. Let the market play out.
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    Sep 29, 2008 11:58 AM GMT
    RunintheCity said
    Azstreaker said
    They passed it even when on congress poll it was 9% for it.....


    Which is why a lot of the House Republicans objected to the bill. Not because they didn't support their Wall St pals, but because they want to get re-elected - even though they can use the voting machines to cheat, i.e. here in Ohio and the uneven/unfair distribution of voting machines in 2004 and 2006 via Ken Blackwell.

    I say vote out anyone who voted for it. I still don't support the bill. Even with the protections provisions. I think it's a bad idea. Let the market play out.

    They call those "protection provisions"?!?!?! I am not impressed with what I read... http://www.realjock.com/gayforums/297458/
  • coolarmydude

    Posts: 9190

    Sep 29, 2008 12:12 PM GMT
    This bailout hurts my feelings. The intent is to create a more stable enviornment for more lending. Lending what?! Inflated, devalued dollar bills? To WHOM?!! Those who have bad credit or no credit because this bailout doesn't address their issue(s)? This legislation is the worst thing since the Patriot Act.
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    Sep 29, 2008 1:56 PM GMT
    Silly Old Queen!!!

    Sorry couldn't help myself,you nasty old bitch.
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    Sep 29, 2008 4:59 PM GMT
    Dear Caslon:
    Go fuck a lolcat.
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    Sep 29, 2008 5:06 PM GMT
    5537B00B saidDear Caslon:
    Go fuck a lolcat.

    fail owned pwned pictures
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    Sep 29, 2008 7:22 PM GMT
    If politicians are smart, they'd be careful with this issue which is turning out to encapsulate all the other big issues in the US today (the wars, healthcare, jobs, wages, stagflation, etc.)...

    One thing is certain: we'll never have to hear of this "magic of the free market" shit again after all these rescues.
  • roadbikeRob

    Posts: 14295

    Sep 29, 2008 10:37 PM GMT
    The free capitalist market as we knew it is pretty much a thing of the past. What we have now is crony capitalism combined with the worst of socialism. I don't blame many Americans for being angry about bailing out Wall Street. These wealthy investment bankers and stock brokers have been plundering this country with the blessing of our federal government and both Republicans and Democrats have allowed them to get away with it. Now there are speculative rumors flying around about the big three automakers needing a federal bailout. This is idiotic bullshit. If these investment bankers, stock brokers and now the automotive industry all make bad decisions then let them suffer for those negative decisions. If they go under and the whole economic system collapses because of these horrendous events, then these wealthy executives, investors, and bankers should be held fully accountable for it and brought to justice. Hey nobody bothers to bail out small businesses or homeowners so why should the corporate elite get a free ride from the US taypayers. That is dead wrong. It is time to tell Wall Street and these big corporations to go fuck themselves. America can survive just as easily without these wealthy corporate welfare cheats.
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    Sep 30, 2008 12:16 AM GMT
    Protests took place on Wall St. to protest the bail out plan - and the mainstream news media didn't even mention it

    Hundreds of protestors demonstrated agains the proposed $700 Billion bail out plan for the finance and banking industry, yet the national news media in America didn't even report it! Why not? It seems strange that this barely generated a gander from the big news outlets like ABC, CNN, CBS, NBC etc. all of whom have a presence in New York City. Despite having such a large protest event occurring in their backyard, the major news media chose not to tell the American people about it. I had to stumble upon this on the internet to find out about it. That's really indicative of the pathetic state of affairs in the U.S. media today.

    Anyway, in case you haven't seen it, I have collected a bunch of video from the protests on Wall Street (Sept. 25) and posted them below. Have a look at what the news media DIDN'T show you!
















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    Sep 30, 2008 12:44 AM GMT
    There is something invigorating about protesting icon_lol.gif we need more mayhem
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    Sep 30, 2008 1:59 AM GMT
    roadbikeRob saidThe free capitalist market as we knew it is pretty much a thing of the past. What we have now is crony capitalism combined with the worst of socialism. I don't blame many Americans for being angry about bailing out Wall Street. These wealthy investment bankers and stock brokers have been plundering this country with the blessing of our federal government and both Republicans and Democrats have allowed them to get away with it. Now there are speculative rumors flying around about the big three automakers needing a federal bailout. This is idiotic bullshit. If these investment bankers, stock brokers and now the automotive industry all make bad decisions then let them suffer for those negative decisions. If they go under and the whole economic system collapses because of these horrendous events, then these wealthy executives, investors, and bankers should be held fully accountable for it and brought to justice. Hey nobody bothers to bail out small businesses or homeowners so why should the corporate elite get a free ride from the US taypayers. That is dead wrong. It is time to tell Wall Street and these big corporations to go fuck themselves. America can survive just as easily without these wealthy corporate welfare cheats.


    EXACTLY BRO.....

    Remember the good company SAFE WAY, the grocery chain? It was doing as good if not better than Wal Mart at one time. It paid well, had health benefits for it's employees and so on and so forth.....

    Well....all it took to change this was a greedy investment banker and his crew to chop it up...sell it as smaller companies and make a huge killing in the end. Now, what did this do to the Company and many of it's long time non union employees?? I bet you can guess!!!

    The splintered company has a difficult time working...it's not like it was in any way shape or form!
  • SkyMiles

    Posts: 963

    Sep 30, 2008 2:34 AM GMT
    ActiveAndFit said
    Azstreaker saidSHOULD CONGRESS BAILOUT WALL STREET TO HELP MAIN STREET?
    I think either way we are screwed, its just which way are we screwed worse. One article suggested that if there was no help, it would mean a depression, with at least several millions of jobs lost .. and rippling through the world economy. I would have to look at it more.


    that's about the size of it. If only those S&L guys had gone to jail back in the 80s...and the congressmen who aided and abetted them. Huh, I wonder where those guys are now? Hmmm.....icon_confused.gif

    If Wall Street and congress were serious, the guys who perpetrated these acts of fraud would be going to jail.
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    Sep 30, 2008 2:42 AM GMT
    Colbert_Nation said
    ActiveAndFit said
    Azstreaker saidSHOULD CONGRESS BAILOUT WALL STREET TO HELP MAIN STREET?
    I think either way we are screwed, its just which way are we screwed worse. One article suggested that if there was no help, it would mean a depression, with at least several millions of jobs lost .. and rippling through the world economy. I would have to look at it more.


    that's about the size of it. If only those S&L guys had gone to jail back in the 80s...and the congressmen who aided and abetted them. Huh, I wonder where those guys are now? Hmmm.....icon_confused.gif

    If Wall Street and congress were serious, the guys who perpetrated these acts of fraud would be going to jail.


    Remeber the keting "5"? Well ....one is running for president