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Date: 10/24/11 04:04 AM

39 Responses to 4 Reasons for Occupying Wall Street

  1. Profile photo of ilovesean23
    ilovesean23 Female 18-29
    109 posts
    October 24, 2011 at 3:11 am
    Link: 4 Reasons for Occupying Wall Street - Reinstating Glass Steagall the answer?
  2. Profile photo of mal_BB
    mal_BB Male 18-29
    1231 posts
    October 24, 2011 at 4:47 am
    power corrupts, and absolute power corrupts absolutely. Since the banks have proved time and time again that they can not regulate themselves; that their greed surpasses their common sense, they need to be regulated. There`s no other way forward.
  3. Profile photo of RobSwindol
    RobSwindol Male 30-39
    2514 posts
    October 24, 2011 at 4:51 am
    If you have to be given reasons for the Occupy Wall Street protests, then you are a moron who hasn`t paid attention to your surroundings for the last several (or even last 4) years.
  4. Profile photo of Norris
    Norris Male 18-29
    1011 posts
    October 24, 2011 at 5:09 am
    Couple things strike me as this OWS stuff is going on;


    1) If you`re so angry, why isn`t Wall Street on fire?

    2) Ya know the people working on Wall Street aren`t the rich pos`s that are assraping you right?
  5. Profile photo of madest
    madest Male 40-49
    7378 posts
    October 24, 2011 at 5:30 am
    Elizabeth Warren for President!
  6. Profile photo of EricWRN
    EricWRN Male 30-39
    590 posts
    October 24, 2011 at 5:50 am
    Elizabeth Warren: liberalisms latest revisionist demagogue.
  7. Profile photo of EricWRN
    EricWRN Male 30-39
    590 posts
    October 24, 2011 at 5:52 am
    @mal BB, the banks haven`t been running themselves and anyone that says the problem is "deregulation" is either a propagandist or simply uninformed about how intertwined the government, federal reserve, and banking system are.
  8. Profile photo of EricWRN
    EricWRN Male 30-39
    590 posts
    October 24, 2011 at 5:56 am
    Elizabeth Warren is a pro-socialism demagogue who intentionally revises history and uses bullpoo statistics to sell her agenda and feign compassion for the middle class.

    She is the 1%. She`s a wolf in sheep`s clothing and of course the sheep are chiming right up about what a savior she`s going to be. Remember your last "savior" lib-sheep? Yeah, not so great after-all, huh? Unemployment up, deficit up, new wars, cost of living up, dollar worth less... Maybe THIS socialist demagogue will be better though, huh!
  9. Profile photo of madest
    madest Male 40-49
    7378 posts
    October 24, 2011 at 6:00 am
    Yeah and George W. Bush was the republican savior? You have the logic of a Palin child EricWRN.
  10. Profile photo of EricWRN
    EricWRN Male 30-39
    590 posts
    October 24, 2011 at 6:12 am
    what? George Bush was an non-nice individual. I didn`t vote for him.
  11. Profile photo of EricWRN
    EricWRN Male 30-39
    590 posts
    October 24, 2011 at 6:16 am
    But George Bush is a neo-con non-nice individual, Elizabeth Warren and Obama are liberal non-nice individuals... what does GWB have to do with her?

    Oh wait... you`re one of those team-chearing, black and white, "my team is the best", "the other team is the reason things suck" types, huh?

    The moment someone starts cheering for their political team and blaming another group you can immediately infer that you won`t be having any type of logical discussion.
  12. Profile photo of madest
    madest Male 40-49
    7378 posts
    October 24, 2011 at 6:23 am
    Yeah you buy that whole "liberal" is bad line thing? You should look up liberal in the dictionary. WTH, I`ll do it for you. Liberal: Not limited to or by established, traditional, orthodox, or authoritarian attitudes, views, or dogmas; free from bigotry. Favoring proposals for reform, open to new ideas for progress, and tolerant of the ideas and behavior of others; broad-minded.
    Obama might not be the savior he was seen as but he`s been working against a congress more interested in his failure than America`s success. He`s accomplished a lot including National health care, Killing OBL, Ending the Iraq war and turning around the recession. He deserves the credit you so willfully refuse to give him.
  13. Profile photo of mal_BB
    mal_BB Male 18-29
    1231 posts
    October 24, 2011 at 6:24 am
    @EricWRN; in the UK at least Blair`s lack of banking regulation has been a catalyst to our banking crisis. He was too busy riding the bubble to care. Not so sure about the US, but if, as you say, the government, federal reserve and banking system are all intertwined (completely agree with that btw), then surely de-regulation of the banks would be mutually beneficial to all three parties, and therefore contribute to the economic crisis we`re now in.
  14. Profile photo of Klamz
    Klamz Male 18-29
    689 posts
    October 24, 2011 at 7:16 am
    "You have the logic of a Palin child EricWRN."

    Lol.
  15. Profile photo of BBJellyFish
    BBJellyFish Male 18-29
    550 posts
    October 24, 2011 at 7:20 am
    overthrowing of government the answer?
  16. Profile photo of Gerry1of1
    Gerry1of1 Male 50-59
    36679 posts
    October 24, 2011 at 7:35 am

    I`m republican & prefer small government that does not regulate or interfere. But on this topic I am with the protestors. Two reasons why...

    Investment groups knowingly took junk & high risk investments but repackaged them, sold them to Retirment Investment Plans as `safe investments`. Remember your 401K sign up when you ckecked the box of which type of investment to make? High or Low risk? You check low risk, they sold you high risk. Now due to their cheating your retirement fund is gone.

    And second, Large Corporation lobbied and got Congress to pass loop hole regulations allowing them to dip into the retirement funds of their employees benefit packages. 10 years ago those were 100% funded, now the CEO`s complain these union benefits are crippling their companies! Congress did the exact same thing with Social Security - the took the money now want to scrap it because it`s broke.

    OCCUPY EVERYTHING untill this stops.
  17. Profile photo of HalfPintRoo
    HalfPintRoo Female 18-29
    2765 posts
    October 24, 2011 at 7:44 am
    what Gerry said...
  18. Profile photo of Gerry1of1
    Gerry1of1 Male 50-59
    36679 posts
    October 24, 2011 at 8:00 am
  19. Profile photo of Gerry1of1
    Gerry1of1 Male 50-59
    36679 posts
    October 24, 2011 at 8:05 am

    Norris - "Ya know the people working on Wall Street aren`t the rich pos`s that are assraping you right?"
    No, the secretaries and clerks aren`t. But Wall Street is the symbol of the Corporate greed that landed us in this mess. It is the place where Corporations, Banks and Politics meet.

    That`s why it`s Occupy Wall Street not Occupy Washington.
  20. Profile photo of simbha
    simbha Male 30-39
    412 posts
    October 24, 2011 at 8:08 am
    To add to Gerry`s point: I agree.

    Governmental regulation and intervention should be limited to those things which market mechanisms can`t handle to the point where they may result in `market failure`. Examples of this are most prominently seen when there are conditions of extreme asymmetries of information between buyers and sellers of goods or services.

    In the case of Wall St. firms, this is most fundamentally a case of the classic principal-agent problem in which the principal (in this case, `small` investors) entrust their funds or their retirement to agents who are expected to act in their best interest, but who - in fact- have unaligned incentives. The solutions to these problems are many, but generally require either enforced contracts or regulation. (There are other mechanisms too.)
  21. Profile photo of simbha
    simbha Male 30-39
    412 posts
    October 24, 2011 at 8:11 am
    (Continued...)

    I think one of the most basic problems in our investment industry is that the directors of investment funds figured out a way (a long time ago) to manage our money in a way that allows most of their earnings to come from the *maintenance* of funds, rather than their growth. As such, few fund managers have an incentive to manage funds in a way that is consistent with the preferences of their investors (other than high net-worth individuals who hold tremendous control over their livelihoods - rightfully so). This sets up a situation whereby fund managers either have no incentive to grow wealth for their investors or take undesirable risks to do so (and thus line their own pockets in the process).
  22. Profile photo of Gerry1of1
    Gerry1of1 Male 50-59
    36679 posts
    October 24, 2011 at 10:30 am

    In the video {2:42} we heard,
    "I have a hard time understanding how do you put 2 trillion dollars at risk..."
    The answer to that is, "It`s easy when it`s someone elses money!"
  23. Profile photo of thelonious
    thelonious Male 40-49
    3284 posts
    October 24, 2011 at 11:35 am

  24. Profile photo of M_Archer
    M_Archer Male 18-29
    525 posts
    October 24, 2011 at 11:40 am
    I got about thirty-nine seconds into the video until I spotted the first fallacy (post hoc fallacy); I then gave up, since I know the rest of the video will probably be socialist nonsense.

    Someone earlier posted a picture of the protest; on the picture, all the products from multi-billion dollar corporations were labelled and currently being used by the protestors. No doubt, they used Twitter, Facebook and smartphones to organize the protest. They`re protesting the people who made that protest even POSSIBLE.

    Take away all the things from the protesters that were made by corporations, and you have a naked caveman. Unbelievable.
  25. Profile photo of Gerry1of1
    Gerry1of1 Male 50-59
    36679 posts
    October 24, 2011 at 12:07 pm

    M_Archer - stand up please. The entire point of the protest has gone over your head.
  26. Profile photo of madest
    madest Male 40-49
    7378 posts
    October 24, 2011 at 12:09 pm
    He can`t right now Gerry, He`s busy getting a brain transplant from his state sponsored healthcare.
  27. Profile photo of Fatninja01
    Fatninja01 Male 30-39
    25420 posts
    October 24, 2011 at 1:16 pm
    OMG gerry said something kinda intellectual! GO Gerry! keep it comin
  28. Profile photo of MCMXCIII
    MCMXCIII Male 18-29
    356 posts
    October 24, 2011 at 1:50 pm
    "I got about thirty-nine seconds into the video until I spotted the first fallacy (post hoc fallacy); I then gave up, since I know the rest of the video will probably be socialist nonsense. "

    Isn`t it called a hasty generalization fallacy? Your comment, not the video.
  29. Profile photo of mackin
    mackin Male 30-39
    210 posts
    October 24, 2011 at 2:13 pm
    I can imagine M-Archer complaining about children who are abused. Sure, power is being exploited and misused, but at least you get something out of the deal, imirite? Granted, no better expert on financial policy than a Canadian teenager.

  30. Profile photo of robosnitz
    robosnitz Male 40-49
    2737 posts
    October 24, 2011 at 2:16 pm
    Power to the people.
  31. Profile photo of M_Archer
    M_Archer Male 18-29
    525 posts
    October 24, 2011 at 3:41 pm
    "Isn`t it called a hasty generalization fallacy? Your comment, not the video."

    Not really. Hasty generalization fallacy would be if I said, "This woman is a socialist and uses fallacies. Therefore, all socialists use fallacies."

    The fallacy she used was right at the start of the video i.e. she put in a building block to her argument that won`t hold anything--therefore, her entire argument fails and isn`t worth anyone`s mental energy.
  32. Profile photo of Gerry1of1
    Gerry1of1 Male 50-59
    36679 posts
    October 24, 2011 at 4:14 pm

    M_Archer. Gee I wish we were friends in the real world.
    Seriously, I mean it!

    I soooooo want to be around to watch when you try to get a job.
  33. Profile photo of tsiemens
    tsiemens Male 30-39
    515 posts
    October 24, 2011 at 4:38 pm
    nothing will change as long as we are willing to keep being taxed
  34. Profile photo of Commentator
    Commentator Male 40-49
    270 posts
    October 24, 2011 at 6:04 pm
    REVOLUTION!!!!!!!

    We are living in the Last Day of the American Empire, watch it fall!
  35. Profile photo of OldOllie
    OldOllie Male 60-69
    15841 posts
    October 24, 2011 at 11:00 pm
    Europe never had anything like Glass Steagall. How come they didn`t have any huge financial crises between 1945 and 1980? In fact, they didn`t go nearly as far as Roosevelt did to regulate their economies. Maybe that`s why they had a depression, and we had "The Great Depression."
  36. Profile photo of simbha
    simbha Male 30-39
    412 posts
    October 25, 2011 at 1:21 am
    @OldOllie: No, Europe didn`t have an equivalent to Glass Steagall, but it did suffer huge economic misfortunes roughly equivalent to that in the US.

    Central European countries such as Germany suffered the most, with unemployment levels roughly the same as in the US (~20%). France and the UK were able to avoid some of the repercussions of the worldwide economic downturn because of cooperative agreements in their respective legislative bodies. Other Western European nations such as Italy had (at the time, moderately) totalitarian regimes that used armed force to control their people.

    The American approach at the time was regulation, but `Europe` had other ways of handling it.

    (I`d like to point out that - especially then - `Europe` cannot really be lumped into a single bin, because sovereignty reigned supreme and different national factions acted differently across the continent.)
  37. Profile photo of techgeek07
    techgeek07 Male 30-39
    2593 posts
    October 25, 2011 at 7:59 pm
    Glass-Steagall should never have been repealed
  38. Profile photo of OldOllie
    OldOllie Male 60-69
    15841 posts
    October 25, 2011 at 9:51 pm
    Glass-Steagall should never have been enacted in the first place.
  39. Profile photo of bongsmoka420
    bongsmoka420 Male 18-29
    290 posts
    October 26, 2011 at 9:06 am
    at 3:00, those are the guys. the few, the elite. they run shyt. they call the shots. THOSE are the kykes whose heads we gotta blow off.

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