Getwhatchuwant
Elite Member
- Jul 25, 2011
- 1,998
- 1,336
right that is true, just like citizens have the right to protest and OWS. Most of this mess really boils down to the financial institutions and the Fed.
Why You Shouldn't Support Occupy Wallstreet
- Thread starter Troshi
- Start date
chano420
Regular Member
- Oct 25, 2009
- 363
- 102
vinniffa
Junior Member
- Nov 8, 2008
- 193
- 30
I don't understand why everybody talk about corporate greed.
Most mature companies in U.S are selling 20 E/P.
Making your money make more money is getting harder and harder.. the ROI is getting slim.
Corporates are just trying to make some above average return, as everybody.
I agree that there must be regulations to some speculators who play around with high debt and derivatives.
People must learn to save their money and stop buying so much..
About the stockholm Syndonre the guy over there said.. I think it's another syndrome.. it will go away as soon as the economy is back on track.
Most mature companies in U.S are selling 20 E/P.
Making your money make more money is getting harder and harder.. the ROI is getting slim.
Corporates are just trying to make some above average return, as everybody.
I agree that there must be regulations to some speculators who play around with high debt and derivatives.
People must learn to save their money and stop buying so much..
About the stockholm Syndonre the guy over there said.. I think it's another syndrome.. it will go away as soon as the economy is back on track.
ibmethatswhoib
Elite Member
- Feb 17, 2011
- 1,567
- 1,171
I'm going to have to go with..BS. A lot of corporations don't even pay any taxes and they get money back http://www.lifeslittlemysteries.com/which-10-giant-corporations-dont-pay-taxes-1587/. For all you that haven't seen what out of control corporations have done you have to stop drinking the koolaid the media gives you. I'm not against making money obviously, I'm in here. But there needs to be more balance. After the great depression, banks and monopoly's were kept in place because they caused the great depression. Things went great until the 80's came around then after that all presidents and congress opened up the gambling and the flood gates to corps. Minimum wage hasn't gone up, "free trade" , healthcare is crap, jobs went oversees for pennys, pensions were turned into gambling 401ks, wars were started for resources and weapons manufactures etc. This whole idea of feeding these corporations and banks more money to create jobs is crap too, we tried that. Corporations and banks don't give back because they're generous and create jobs. They're about the bottom line and anyone that hasn't seen what they have done to the world really needs their head examined.
More information below. The standards were relaxed but people that were against the CRA regulations were shown the door because banks knew that these new lax regulations would mean a big boom in profits for them.
hxxp://articles.businessinsider.com/2009-06-27/wall_street/30009234_1_mortgage-standards-lending-standards-mortgage-rates
hxxp://articles.businessinsider.com/2009-06-27/wall_street/30009234_1_mortgage-standards-lending-standards-mortgage-rates
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Roparadise
BANNED
- May 25, 2011
- 784
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Alot of those corporations are paying taxes to other nations thats why they don't pay U.S. income tax,they also pay alot out in dividends to their shareholders,so that lowers their income even more.
antsaoo
Supreme Member
- Oct 1, 2008
- 1,288
- 650
Don't you understand that the people who own the wall street own the politics. If your a politician you do what you are told to or get destroyed. They are like dogs who need their masters for food since they been bitches so long they can't survive on their own.
That makes the problem that certain people can cheat the system as much as they wish since there is no consequences if they get caught They own the fucking game with their friends. Only way to change the game is judgement from outside of law... which is unfortunate but atleast i don't really see anything other possibility.
Totally missed the point
Banks took everyone's money - created synthetic instruments to sell to other people - that they knew were a fraud and in many cases they bet against the instruments they created - to make more money
so they abused their position .. and we had to bail them out because they leveraged too hard which overwhelmed their capital.
now you goto the same people asking to refinance etc - and they tell you to buzz off or tie you up in paperwork ... and none of the people who did all this ended up in jail ??
I get why these people are upset - and they should be.
Banks took everyone's money - created synthetic instruments to sell to other people - that they knew were a fraud and in many cases they bet against the instruments they created - to make more money
so they abused their position .. and we had to bail them out because they leveraged too hard which overwhelmed their capital.
now you goto the same people asking to refinance etc - and they tell you to buzz off or tie you up in paperwork ... and none of the people who did all this ended up in jail ??
I get why these people are upset - and they should be.
MakeLemonade
Junior Member
- Mar 30, 2009
- 148
- 67
Sorry, but you're wrong - the banks weren't forced to do anything by the government. Community Reinvestment act only had a very slight effect on the number of loans.
NoirHat
Regular Member
- Feb 4, 2011
- 449
- 216
Hmmm... so the U.S. gov't forced Goldman Sachs to bundle a pile of "shit" mortgages (they were well aware), label them AAA, and sell them to investors? Just for the sake of GREED
Gov't was stupid but if you wanna give banks a pass for their role, then u are part of the problem
MakeLemonade
Junior Member
- Mar 30, 2009
- 148
- 67
Actually, there's no way the government can pass laws to regulate banks and business as long as campaign finance gives power to whoever goes along with businesses. We need an amendment to prevent that.
The Glass-Steagall act was made specifically to prevent the kind of speculation that the big banks were doing. There's no talk about bringing it back.
If ANYONE really wants to understand what happened, read "How Markets Fail". It tells EXACTLY what happened, and why it happened. It also explains that free markets usually work in setting prices, but in the financial market, the free market system WILL break because feedback loops get reversed.
For example, if a price goes up too much in a normal free market, the amount bought will drop. But in housing, people bought and paid MORE because they expected prices to continue to rise. So the market got overheated and caused a bubble.
It also talks about the problem that banks and rating agencies had - the rating agencies kept high ratings on home loan financial instruments traded by banks, pension funds, hedge funds, etc. The rating agencies were forced to let up on standards, or they'd lose business to the competition.
It's a good read explaining exactly how things go wrong, when the system breaks and people get rewarded for doing precisely the wrong thing.
Roparadise
BANNED
- May 25, 2011
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The Stock Exchange in New York isn't the only one in the world,there is also one in Berlin,Moscow,London, Bucharest. So how can the U.S. government regulate the entire system for the world. And even if alot of nations agree there will be a few that will cash in on the regulations in the other nations.
chano420
Regular Member
- Oct 25, 2009
- 363
- 102
no, they forced them to buy these shit mortgages. The bundled and sold them to minimize their risk. Again, corporations exist for profit, and the good ones SHOULD lower their risk when they can.
Now Im not saying the banks played absolutely no role, but the legislation against redlining surely didnt make it any easier.
As far as the bail out. We didnt HAVE to bail out anyone, we chose to do that. Had we let the banks die, we would have learned a lesson. Yea it would have been tough, but all we did by bailing them out was prolong the inevitable.
Neo240
Power Member
- Sep 13, 2011
- 551
- 338
One thing is certain...globalization will be the future. Those who change win,those who cant cry. As for taxes i m more than happy to pay 10% taxes but never 1/3 of my income. The Us economy will crumble if this continues...whatever IRS does or law they pass out...the rich will find a way.
antsaoo
Supreme Member
- Oct 1, 2008
- 1,288
- 650
Well Didn't us GOvt give banks 700 billion for mainly pay off the mortgages from the people so they don't lose their homes. Then the money just dissapeared
Shame it did not dissapear to my bank account. The same thing is now happening in EU no one tells to give money to countries in debt since everyone knows it will just prolong the crash. Still the new Stabling Mechanism wants 2 000 billion and politicians give it out just like that when people don't want to , there is no "We" no one is going to ask us when they know the answer is no.
Roparadise
BANNED
- May 25, 2011
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It is the present,not the future.
A
at88
Guest
OWS is simply too little too late. Where was OWS when this bill was being voted on?? Emergency Economic Stabilization Act of 2008 (see wikipedia)
metaldragon
Regular Member
- Mar 2, 2007
- 229
- 73
If I hear "Don't blame the lion blame the Lion keeper" used 1 more time as if its a practical ideal for whats going on....Lets take our prison system for example. If an inmate Kills another inmate do we give the prison guards a life sentence? Does ANYONE using "Don't blame the lion blame the Lion keeper" believe prison guards should get life sentences when they fail to stop a inmate from killing another inmate?....Yeah I don't think so.