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4 Reasons for Occupying Wall Street

Hits: 9727 | Rating: (2.5) | Category: News & Politics | Added by: ilovesean23
Page: 1 2 Next >   Jump to: Bottom    Last Post
bongsmoka420
Male, 18-29, Midwest US
 291 Posts
Wednesday, October 26, 2011 9:06:40 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.

OldOllie
Male, 60-69, Midwest US
 14381 Posts
Tuesday, October 25, 2011 9:51:09 PM
Glass-Steagall should never have been
enacted in the first place.

techgeek07
Male, 30-39, Eastern US
 2577 Posts
Tuesday, October 25, 2011 7:59:08 PM
Glass-Steagall should never have been repealed

simbha
Male, 30-39, Southern US
 412 Posts
Tuesday, October 25, 2011 1:21:23 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.)

OldOllie
Male, 60-69, Midwest US
 14381 Posts
Monday, October 24, 2011 11:00:36 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."

Commentator
Male, 40-49, Western US
 270 Posts
Monday, October 24, 2011 6:04:19 PM
REVOLUTION!!!!!!!

We are living in the Last Day of the American Empire, watch it fall!

tsiemens
Male, 30-39, Canada
 506 Posts
Monday, October 24, 2011 4:38:33 PM
nothing will change as long as we are willing to keep being taxed

Gerry1of1
Male, 50-59, Western US
 33910 Posts
Monday, October 24, 2011 4:14:20 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.

M_Archer
Male, 18-29, Canada
 529 Posts
Monday, October 24, 2011 3:41:06 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.

robosnitz
Male, 40-49, Eastern US
 2752 Posts
Monday, October 24, 2011 2:16:16 PM
Power to the people.

mackin
Male, 30-39, Western US
 211 Posts
Monday, October 24, 2011 2:13:00 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.


MCMXCIII
Male, 18-29, Asia
 354 Posts
Monday, October 24, 2011 1:50:11 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.

Fatninja01
Male, 18-29, Australia
 24626 Posts
Monday, October 24, 2011 1:16:55 PM
OMG gerry said something kinda intellectual! GO Gerry! keep it comin

madest
Male, 40-49, Eastern US
 6458 Posts
Monday, October 24, 2011 12:09:01 PM
He can't right now Gerry, He's busy getting a brain transplant from his state sponsored healthcare.

Gerry1of1
Male, 50-59, Western US
 33910 Posts
Monday, October 24, 2011 12:07:21 PM

M_Archer - stand up please. The entire point of the protest has gone over your head.

M_Archer
Male, 18-29, Canada
 529 Posts
Monday, October 24, 2011 11:40:43 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.

thelonious
Male, 40-49, Southern US
 3246 Posts
Monday, October 24, 2011 11:35:46 AM


Gerry1of1
Male, 50-59, Western US
 33910 Posts
Monday, October 24, 2011 10:30:11 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!"

simbha
Male, 30-39, Southern US
 412 Posts
Monday, October 24, 2011 8:11:56 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).

simbha
Male, 30-39, Southern US
 412 Posts
Monday, October 24, 2011 8:08:15 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 [the government refused to prosecute violators] or regulation. (There are other mechanisms too.)

Gerry1of1
Male, 50-59, Western US
 33910 Posts
Monday, October 24, 2011 8:05:53 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.

Gerry1of1
Male, 50-59, Western US
 33910 Posts
Monday, October 24, 2011 8:00:07 AM

HalfPintRoo
Female, 18-29, Eastern US
 2475 Posts
Monday, October 24, 2011 7:44:10 AM
what Gerry said...

Gerry1of1
Male, 50-59, Western US
 33910 Posts
Monday, October 24, 2011 7:35:45 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.

BBJellyFish
Male, 18-29, Eastern US
 530 Posts
Monday, October 24, 2011 7:20:04 AM
overthrowing of government the answer?

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