Occupy Wall Street Fail

[petros]

True, but that issue is an aside to what we're talking about. You can work for food/shelter if you like and the same variables affecting valuation will still be in play.

Not really. Only through Wall St can you offer the same meal and lodging to 10 people and have only 1 bed and 1 seat at the table. How do you like all the immigrants/social program riders and Stimulus jobs staying in your house and eating at your table on your dime?

 

[EagleSmack]

Capitalism in itself as a philosophy of capital gain does not have human welfare as a core value. It's a world I don't fully understand but somehow it seems clear that Wall Street has simply become a very large casino where ALL that counts is making money, not creating jobs.
.

Tell me something... why is Wall St. the only target here? What about stock markets in other parts of the world? I'm not saying stop talking about Wall St. because that is the OP topic. But all financial institutions answer to their investors and I agree, job creation is not paramount to the health of a company. The CEOs are responsible to their investors, the ones who put up money to get a good return. It is no secret on Wall St. or any other international financial market. Jobs are a plus to a company that does well and those jobs will be shed if the survival OR profitability of a company is in jeopardy.

Question... where is Canada's version of Wall St.? Are they focused any differently?

 

[petros]

Bay St Toronto

 

[captain morgan]

Not really. Only through Wall St can you offer the same meal and lodging to 10 people and have only 1 bed and 1 seat at the table.

The airlines and hotels do that each and every day... Contractors over book themselves each and every day... When was the last time you went to the doctor or dentist for an appointment at a set time and didn't wait at least 1-2 hours?

Are the above examples also the fault of Wall Street?

How do you like all the immigrants/social program riders and Stimulus jobs staying in your house and eating at your table on your dime?

Wall Street's doings again?

 

[EagleSmack]

Bay St Toronto

Occupy Bay St.!

jk

Edit: I just googled "Occupy Bay St." and it looks like they'll be a Canadian flavored movement that is similiar. I didn't read the links but there were a few of them.

 

[s_lone]

Tell me something... why is Wall St. the only target here? What about stock markets in other parts of the world? I'm not saying stop talking about Wall St. because that is the OP topic. But all financial institutions answer to their investors and I agree, job creation is not paramount to the health of a company. The CEOs are responsible to their investors, the ones who put up money to get a good return. It is no secret on Wall St. or any other international financial market. Jobs are a plus to a company that does well and those jobs will be shed if the survival OR profitability of a company is in jeopardy.

Question... where is Canada's version of Wall St.? Are they focused any differently?

You have a good point. I think it's fair to say that Wall Street has simply become the archetypal scapegoat when it comes to blaming the financial market. But I think people are angry at the system as a whole.

However, let's not forget that the 2008 fiasco was largely a US American affair. It follows that Canadians are not as angry about it than US Americans.

 

[TenPenny]

Can you tell me the difference between Wall Street rabble and Tea Party rabble - other than the strong possibility that the the Wall Street protesters probably have IQs averaging about 20 points higher? I just find it amusing that the right wing media in the US is all over people protesting the great inequities in US society while regarding Tea Party protestors as good solid Americans. The fact is if you have even the remotest understanding of how democracy works both are good solid Americans. I realize that in a society that is so strongly chauvinistic (this is the way the word should be used) that criticizing any aspect of US society may seem treasonous, but that is not the way democracy works.

I'm pretty sure that the media treats both groups as a bunch of wingnuts, and quite frankly I'd be tempted to conclude that the IQ of the TeaParty is likely higher than that of the Wall St protestors.

Certainly the functional IQ is higher.

 

[petros]

The airlines and hotels do that each and every day... Contractors over book themselves each and every day... When was the last time you went to the doctor or dentist for an appointment at a set time and didn't wait at least 1-2 hours?

Are the above examples also the fault of Wall Street?




Wall Street's doings again?

Why should you have to wait or get bumped when you paid in full and how does having your investments diliberetly put into high stupidity credit give aways not equate to illegal behaviour?. People's pets were getting credit cards. What did these pets do with the credit? Blow it on Snausages and why are you and I stuck paying for it?

 

[EagleSmack]

You have a good point. I think it's fair to say that Wall Street has simply become the archetypal scapegoat when it comes to blaming the financial market. But I think people are angry at the system as a whole.

However, let's not forget that the 2008 fiasco was largely a US American affair. It follows that Canadians are not as angry about it than US Americans.

The 2008 fiasco had less to do with Wall St. and everything to do with people not paying their mortgage because they wanted the big house they couldn't afford. As Barney said... "Owning a house is a right". Say what?

Wall St. is just a place they want to lash out... because they want and don't have. They want Wall St. to just give it to them. Good luck at that. Actually, they really don't know what they want. Well, winter is coming. Soon the streets of NY City will be freezing and the occupation will be over.

 

[petros]

The 2008 fiasco had less to do with Wall St. and everything to do with people not paying their mortgage because they wanted the big house they couldn't afford. As Barney said... "Owning a house is a right". Say what?

Wall St. is just a place they want to lash out... because they want and don't have. They want Wall St. to just give it to them. Good luck at that. Actually, they really don't know what they want. Well, winter is coming. Soon the streets of NY City will be freezing and the occupation will be over.

They weren't given credit on their own, those risky mortgages were then bundled and sold off with bull**** ratings from Standard and Poor's and the likes.

 

[TenPenny]

The 2008 fiasco had less to do with Wall St. and everything to do with people not paying their mortgage because they wanted the big house they couldn't afford. As Barney said... "Owning a house is a right". Say what?

Wall St. is just a place they want to lash out... because they want and don't have. They want Wall St. to just give it to them. Good luck at that. Actually, they really don't know what they want. Well, winter is coming. Soon the streets of NY City will be freezing and the occupation will be over.

Well, you're forgetting a few steps. The banks took those sketchky mortgages and bundled them into packages. Then they used a software analysis program to show that when you bundle 1000 sketchky mortgages together, they're no longer sketchky, they're investment grade assets. These investment grade assets were sold to Wall St bankers, who of course understood that because a computer analysis said they were investment grade, they must be. And so, they bundled more of these packages together, and sold them as investment funds.

For all of this, the Wall St bankers were paid multimillion dollar performance bonuses. And when they discovered that bundling **** together doesn't change the fact that it's still ****, they got the federal gov't to bail them out, and got more multimillion dollar bonuses.

 

[s_lone]

The 2008 fiasco had less to do with Wall St. and everything to do with people not paying their mortgage because they wanted the big house they couldn't afford. As Barney said... "Owning a house is a right". Say what?

Wall St. is just a place they want to lash out... because they want and don't have. They want Wall St. to just give it to them. Good luck at that. Actually, they really don't know what they want. Well, winter is coming. Soon the streets of NY City will be freezing and the occupation will be over.

We'll have to wait and see. Winter will inevitably calm things down. But I wouldn't be surprised at all to see things heat up even more significantly in the Spring. And winter will give every one time to discuss and debate the whole issue.

As for the more immediate, there are rumours that the group Anonymous who has organized this in the first place is planning to hack the Wall Street web sites on Monday. On the other hand, some Anonymous members are saying this isn't true and that's it's an attempt by the authorities to attack the movement.

Interesting times ahead.

 

[mentalfloss]

People that really believe everyone is like this one person are as shallow as lotion man in my view.

They're either just having fun or complete retards. Going into a thread like this, I wouldn't expect more than jokes.

 

[EagleSmack]

They weren't given credit on their own, those risky mortgages were then bundled and sold off with bull**** ratings from Standard and Poor's and the likes.

Oh they were given credit and the loans. The bundling is a completely different story. The bundles failed when people were unable to pay their mortgages. These people never should have got the loans to begin with.

Well, you're forgetting a few steps. The banks took those sketchky mortgages and bundled them into packages. Then they used a software analysis program to show that when you bundle 1000 sketchky mortgages together, they're no longer sketchky, they're investment grade assets. These investment grade assets were sold to Wall St bankers, who of course understood that because a computer analysis said they were investment grade, they must be. And so, they bundled more of these packages together, and sold them as investment funds.

For all of this, the Wall St bankers were paid multimillion dollar performance bonuses. And when they discovered that bundling **** together doesn't change the fact that it's still ****, they got the federal gov't to bail them out, and got more multimillion dollar bonuses.

It started with giving loans to people who should have never got them in the first place.

 

[petros]

Oh they were given credit and the loans. The bundling is a completely different story. The bundles failed when people were unable to pay their mortgages. These people never should have got the loans to begin with.



It started with giving loans to people who should have never got them in the first place.

Did the people who took the loans set their qualifying amounts and credit card limits? It's a guaranteed fail and they knew it would fail. That is a scam.

 

[EagleSmack]

We'll have to wait and see. Winter will inevitably calm things down. But I wouldn't be surprised at all to see things heat up even more significantly in the Spring. And winter will give every one time to discuss and debate the whole issue.

As for the more immediate, there are rumours that the group Anonymous who has organized this in the first place is planning to hack the Wall Street web sites on Monday. On the other hand, some Anonymous members are saying this isn't true and that's it's an attempt by the authorities to attack the movement.

Interesting times ahead.

The left have always been strong protestors and organizing these protests. They just need something to rally to. The same suspects that are on Wall St I am sure attend the G8/G20 conferences... and anti-war rallies when a Republican is in office.

When that bitter winter wind comes down the Hudson River... things will do more than calm down.

Occupy Beverly Hills perhaps?

Did the people who took the loans set their qualifying amounts and credit card limits? It's a guaranteed fail and they knew it would fail. That is a scam.

As I said... they never should have got the loans to begin with. But it was the "Right for every American to own a house." as Barney Frank said.

 

[TenPenny]

Oh they were given credit and the loans. The bundling is a completely different story. The bundles failed when people were unable to pay their mortgages. These people never should have got the loans to begin with.



It started with giving loans to people who should have never got them in the first place.

True, they shouldn't have been given the loans. Which does make you wonder how they managed to force the banks to loan them money. Can I force you to give me money that you know I won't repay?

In this fantasy world, real estate never goes down in value. And our society also believes that you can buy a dump, fix it up in 6 weeks of spare time, and sell it for double your investment. That's called television, but people believe it.

 

[Locutus]

Organizer admits to paying ‘Occupy DC’ protesters [VIDEO]

Read more: Occupy DC Organizer | Washington Hispanics | The Daily Caller


The 'sadness' is spreading kids. :lol:
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[coldstream]

These grass roots movements can be very powerful. What it lacks now is definitive vision of what to replace the current economic paradigm with. But i think that might coalesce with time, this movement might be quite durable for one reason.. and that is the economic system they are protesting is failing in increasingly catastrophic ways.

We will see these shocks, that we saw in 2008.. and now with the Greek debt crisis and European bank stability.. every 18 to 36 months... likely with increasing force. In some way the lack of an agenda might be good thing, since it at least focuses on the utter failure of the greed drenched Free Market and Monetarist trading system championed by Wall Street.

 

[Locutus]

These maudlin groups of whiners and rent-a-protesters are more like Kramers' attempt to stop the friggin' mail. :lol: