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-   -   Wall Street Protests (http://cellar.org/showthread.php?t=26025)

SamIam 10-07-2011 12:08 PM

Found on the Occupy Boulder page on FB. Not as lyrical as Dana's song, but certainly gets the point across.

http://youtu.be/w211KOQ5BMI

Damn! This old war horse is tempted to drive to the Front Range to join in!

TheMercenary 10-07-2011 02:02 PM

Interviews with the protesters on the radio and tv have been pretty funny. Few know why they are protesting and few agree on any of the reasons they are there. Reminds me of the fools at the WTO Protests.

here is one example.

Some ‘Occupy Sacramento’ Protesters Lash Out At Questions

http://sacramento.cbslocal.com/2011/...-at-questions/

Lamplighter 10-07-2011 02:33 PM

Beyond the title to the article and the last phrase in the lead paragraph,
where is all the "lashing out", or the "chaos" the on-scene reporter in the video clip is asserting ?

That link looks like it's more in the minds of scare-mongering reporters, and quite misleading.

Quote:

Some ‘Occupy Sacramento’ Protesters Lash Out At Questions
October 7, 2011 12:24 AM

SACRAMENTO (CBS13) — Hundreds of protesters gathered in Cesar Chavez Park on Thursday
to stand in solidarity with the growing nationwide demonstrations
aimed at corporate greed,
but some members of the peaceful event showed hostility
to media members
over basic questions about the goals of the protest.
<snip>

TheMercenary 10-07-2011 02:38 PM

The point being why would some members show any hostility to anyone who is asking them to verbalize in a complete sentence their thoughts on why they were there and what were they protesting about. It is hilarious. They look just like the fools who protested at the supposedly peaceful WTO events, remember those where they burned cars and broke the windows of the local businesses?

TheMercenary 10-07-2011 02:44 PM

Quote:

A liberal organizer told the Daily Caller on Thursday afternoon that he paid some Hispanics to attend “Occupy DC” protests happening in the nation’s capital.

TheDC attended the protest event, an expansion of the “Occupy Wall Street” movement that began in New York City. Some aspects of the protest, it turned out, are more Astroturf than grassroots.

One group of about ten Hispanic protesters marched behind a Caucasian individual from the DC Tenants Advocacy Coalition, a non-profit organization dedicated to supporting rent control in Washington, D.C.

Asked why they were there, some Hispanic protesters holding up English protest signs could not articulate what their signs said.

Interviewed in Spanish, the protesters told conflicting stories about how their group was organized. Some said it was organized at their church, and that they were there as volunteers. Others, however, referred to the man from the DC Tenants Advocacy Coalition — the only Caucasian in the group — as their “boss.”

TheDC asked that organizer whether he was paying the group to attend the protest, and he conceded that some protesters “aren’t” volunteers.

“Some of them are volunteers. Some of them aren’t,” he explained. “I can’t identify them. I’m not going to get into an identification game.”
Video Link here:

Read more: http://dailycaller.com/2011/10/06/or...#ixzz1a7vjLnTw

Lamplighter 10-07-2011 02:56 PM

Quote:

Originally Posted by TheMercenary (Post 761468)
The point being why would some members show any hostility
to anyone who is asking them to verbalize in a complete sentence their thoughts
on why they were there and what were they protesting about. It is hilarious.
They look just like the fools who protested at the supposedly peaceful WTO events,
remember those where they burned cars and broke the windows of the local businesses?

What hostility ? Watch the videos again...
In the first, the reporter was given civil responses by each person he asked.
The second video shows police arresting some for curfew violations, each was calm and passive.

Maybe that reporter is in the wrong career,
or someone is trying to impose their own ideas on this story.

TheMercenary 10-07-2011 03:12 PM

Maybe you are correct. Maybe they shouldn't have posted the video along with the narrative since it barely supports their report.

It changes little about my points about these protests.

"In one week the Occupy Wall Street people have managed more trouble and cost to government and arrests to cities and taxpayers than the tea party has managed in three years."

TheMercenary 10-07-2011 03:21 PM

This is pretty accurate and I have to agree with the author, the protesters are nothing less than a disjointed mob of disgruntled focusing their anger in the wrong direction. Maybe they should shut down Wall Street for a week and see who gets hurt the most.... they will most likely all still have a job next week.

Quote:

The "populist" protest movement "Occupy Wall Street" has certainly created enough buzz, partially from its disparate elements and lack of cohesive central message. It seems to be mostly anti-capitalism cloaked in the semantics of being against "greed" and for "justice", the usual straw men of the protest classes. However, I do think they have selected the right target, even if their rants are aimed in the wrong direction.

The protesters have labeled Wall Street as the capital of capitalism. It is a common misconception, one that is wholeheartedly embraced by the big banks and the banking system in general. Even the Federal Reserve, itself a creation of Wall Street, casts its public relations efforts in that light - that its monetary policies and framework are the fuel that runs the capitalist machine.
http://www.realclearmarkets.com/arti...get_99295.html

footfootfoot 10-07-2011 03:22 PM

And that's, like what, a half an hour in Iraq or Afghanistan?

I think our government has gotten out of touch with how money is really earned.

TheMercenary 10-07-2011 03:27 PM

Quote:

Originally Posted by footfootfoot (Post 761491)
I think our government has gotten out of touch with how money is really earned.

No doubt...

Pico and ME 10-07-2011 03:33 PM

Quote:

"In one week the Occupy Wall Street people have managed more trouble and cost to government and arrests to cities and taxpayers than the tea party has managed in three years."
That's probably a good thing, although unintentional - most there wanted simply to participate in peaceful protest, however there are bad apples in every group - it's what got the medias attention finally, which then brought about much more participation all across the country.

I think you are going to be amazed at how many people end up sympathizing with this protest. Whats really funny is their messages aren't that far off from the Tea Party's populace-type messages. The big difference is that the Tea Party is funded by the people and groups that the OWS crowd is protesting about.

TheMercenary 10-07-2011 03:47 PM

Quote:

Originally Posted by Pico and ME (Post 761500)
That's probably a good thing, although unintentional - most there wanted simply to participate in peaceful protest, however there are bad apples in every group - it's what got the medias attention finally, which then brought about much more participation all across the country.

I think you are going to be amazed at how many people end up sympathizing with this protest. Whats really funny is their messages aren't that far off from the Tea Party's populace-type messages. The big difference is that the Tea Party is funded by the people and groups that the OWS crowd is protesting about.

I don't disagree. Does this mean we can start calling the protesters "Nazi's" and "Racist"?

SamIam 10-07-2011 04:23 PM

Quote:

Originally Posted by footfootfoot (Post 761491)

I think our government has gotten out of touch with how money is really earned.

Surely not! :eek: Everyone in government knows that money is earned by sucking up to the the big corporations and the wealthy.

Trilby 10-07-2011 04:24 PM

Quote:

Originally Posted by SamIam (Post 761524)
Everyone in government knows that money is earned by sucking up the the big corporations and the wealthy.

well...they're sucking something.

SamIam 10-07-2011 04:26 PM

Quote:

Originally Posted by TheMercenary (Post 761507)
Does this mean we can start calling the protesters "Nazi's" and "Racist"?

We can certainly call the tea baggers that. They are infamous for their use of racial epitaphs. :rolleyes:

Trilby 10-07-2011 04:37 PM

SamIam - I ask once again: why dost thou persist in thy folly?

ZenGum 10-07-2011 05:33 PM

Merc does seem terribly disappointed that there haven't been any actual riots yet. He has to keep going back to the WTO ones.

TheMercenary 10-07-2011 06:37 PM

Quote:

Originally Posted by SamIam (Post 761528)
We can certainly call the tea baggers that. They are infamous for their use of racial epitaphs. :rolleyes:

Wow, really? And those liberals who now have power didn't say that about Bush? You need a link? 8 years of that shit.

Hi Kettle....

TheMercenary 10-07-2011 06:40 PM

Quote:

Originally Posted by ZenGum (Post 761539)
Merc does seem terribly disappointed that there haven't been any actual riots yet. He has to keep going back to the WTO ones.

Naw.... I just recognize that they have their weapon pointed in the wrong direction.

I still would love to see them shut Wall Street for a week and see who suffers first. The protesters or those who work on Wall Street?

SamIam 10-07-2011 07:36 PM

Quote:

Originally Posted by TheMercenary (Post 761563)
Wow, really? And those liberals who now have power didn't say that about Bush? You need a link? 8 years of that shit.

Hi Kettle....


I must say that I consider Bush racist - then and now. However, I don't recall any incidents where a group of liberals got together in Congress and disrupted proceedings with racist taunts. But that's OK on the link.

Stormieweather 10-07-2011 08:14 PM

For me, the point of the protests are this:

Things are NOT right with this country.

We are a mess and a lot of the blame lies at the top...including the banks and wall street institutions that played investment games that eventually cost millions their homes and jobs.

Our government is bought and paid for.

Human rights are being eroded and eliminated on a daily basis.

Our planet is being destroyed.

Our economy is in dire straights and getting worse (yes, it's getting worse!).

We are squandering billions (not to mention lives) on wars no one wants or needs.

The middle class is disappearing into poverty.

Education is being ruined and dismantled.

Someone has to do SOMETHING!! At least those people care enough to speak up.

"Unless someone like you cares a whole awful lot, nothing is going to get better. It's not. " The Lorax

Lamplighter 10-07-2011 11:05 PM

You'd almost think you were in Woodstock - Kumbaya
 
Portland Marathon agrees to accommodate Occupy Portland encampment
Published: Friday, October 07, 2011, 8:47 PM *** Updated: Friday, October 07, 2011, 8:47 PM
Quote:

After a day of closed-door meetings, the Portland Marathon and demonstrators at
Occupy Portland have agreed to coexist, seemingly averting a tense standoff or violent confrontation.

The "people's marathon" -- so called for its policy of rewarding all finishers equally --
has agreed to let the protesters keep their encampment on Chapman Square.
But, in deference to the marathon's safety concerns, the camp will be blocked from runners' view
near the finish line in front of the Justice Center, and occupiers who leave camp won't be allowed back in until later.
<snip>

Police and officials have praised the protest for staying nonviolent and refraining from damaging property,
but police arrested 21-year-old Nolan Zane MacGregor and a 17-year-old boy early Friday
on accusations that the pair spray painted several locations downtown
-- including a police car -- with Occupy Portland slogans.

tw 10-07-2011 11:51 PM

Quote:

Originally Posted by Stormieweather (Post 761596)
Someone has to do SOMETHING!! At least those people care enough to speak up.

Does not matter if it is a car breakdown, economic malaise, or war. In every case, a problem must always be defined before any solution can be discussed, implemented, or advocated.

For example, why are so many losing their jobs? That problem is based (in part) in an answer to a simple question. What is the purpose of a business? To many, a profit? Then jobs get destroyed. Profit is the purpose of the mafia and other organizations that destroy jobs and nations. Jobs are only created when the product is the purpose of a business. When innovation exists. Profits only exist when industry leaders worry about the product (ie innovation); not about profits. When industry leaders define as corrupt what business schools teach.

If the purpose is a profit, then no profits exist. If the purpose is the product, then a reward (profits) exists. Then jobs are created. So many are so corrupt as to advocate what is taught in the business schools. Make a profit. Screw everyone else.

If that fundamental problem is not first defined, then forget about anyone providing a solution. A person who solves problems first identifies the problem and what created it.

Long before anyone can create a solution, first this and other problems must be defined. We used money games to create jobs four and ten years ago. History repeatedly teaches what happens next. Massive job losses. Therein lays the problem. So many so hate the nation as to want to make job losses even larger. They want even more tax cuts. A perfect example of people who have solutions by ignoring what is and has created the problem.

ZenGum 10-08-2011 06:55 AM

1 Attachment(s)
Attachment 34396

Trilby 10-08-2011 07:09 AM

CUTE!

SamIam 10-08-2011 10:30 AM

Quote:

Originally Posted by tw (Post 761677)
Does not matter if it is a car breakdown, economic malaise, or war. In every case, a problem must always be defined before any solution can be discussed, implemented, or advocated.

For example, why are so many losing their jobs? That problem is based (in part) in an answer to a simple question. What is the purpose of a business? To many, a profit? Then jobs get destroyed. Profit is the purpose of the mafia and other organizations that destroy jobs and nations. Jobs are only created when the product is the purpose of a business. When innovation exists. Profits only exist when industry leaders worry about the product (ie innovation); not about profits. When industry leaders define as corrupt what business schools teach.

If the purpose is a profit, then no profits exist. If the purpose is the product, then a reward (profits) exists. Then jobs are created. So many are so corrupt as to advocate what is taught in the business schools. Make a profit. Screw everyone else.

If that fundamental problem is not first defined, then forget about anyone providing a solution. A person who solves problems first identifies the problem and what created it.

Long before anyone can create a solution, first this and other problems must be defined. We used money games to create jobs four and ten years ago. History repeatedly teaches what happens next. Massive job losses. Therein lays the problem. So many so hate the nation as to want to make job losses even larger. They want even more tax cuts. A perfect example of people who have solutions by ignoring what is and has created the problem.

Well, there's nothing wrong with making a profit. The problem occurs when companies and CEO's get into the "its never enough" mindset. The problem occurs when profit is worshiped to the exclusion of all else. The problem occurs when the end justifies the means, no matter how immoral or destructive to society at large those means usually are.

I don't think its a matter of the corps or CEO's "hating" the nation. They are indifferent to the nation. All that matters is money which buys power which allows for grabbing more money, etc. The nation and its people are just things which must be manipulated, stepped over or stepped on in the quest for "more". But a CEO doesn't hate the American people any more than you or I might hate an ant we happen to step on.

@ Zen - Good one!

tw 10-08-2011 12:30 PM

Quote:

Originally Posted by SamIam (Post 761778)
I don't think its a matter of the corps or CEO's "hating" the nation. They are indifferent to the nation.

The world is ternary. Hate, love, and indifference have a difference meaning when you job is to work for your employees. And when the companies purpose is the advancement of the nation and mankind.

Indifference is a total deregard - the definition of hate - towards your charges. You may not like the term. But it applies.

Nobody said profits are bad. If a company is making products that advance the nation and mankind, then the company is probably making a profit. If a company is not making profits, then the company and its products are not doing what they should. One need only view 2008 Ford and GM to observe those 'night and day' differences.

Profit is the reward. Anybody can buy Olympic medals. Those medals are not the purpose of mankind. Winning the race - pushing out the envelope - doing what no man has done before ... that is the purpose of the race. The medals, like profits, are only the reward.

Most usually hear this concept for the first time. Most of us are so brainwashed by business school doctrine as to believe the purpose of a company is its profits. Want to see the first reason for our economic malaise? Many of use need to first look in the mirror. Or learn what the true purpose of all companies (profit, non-profit, NGO, etc) really is.

Problems are not solved until the problem is first defined. And that include top management. If indifferent to their responsibility, then that is a hate that also creates the resulting economic harm. That same attitude is found in the Mafia's wise guys.

ZenGum 10-08-2011 07:02 PM

Quote:

Indifference is a total deregard - the definition of hate - towards your charges.
Indifference and hate are very different.

Trilby 10-09-2011 07:08 AM

hate and love are two different sides of the same coin.

Indifference is a dollar bill. With a corner ripped off.

tw 10-09-2011 12:37 PM

Quote:

Originally Posted by ZenGum (Post 761881)
Indifference and hate are very different.

Not when you are responsible for the resulting destruction due to indifference.

You could replace the word hate with contempt. Both words are describing the same attitude.

GM's contempt for their customers and products resulted in products that one would only sell to customers they had no respect for. Customers to GM were an evil necessity because only profits were important.

Occupy 'X' Street is the people finally getting angry at a hatred traceable what is taught in business schools. Self serving profits are more important than the customer, the nation, mankind, and the real purpose of productive businesses.

Good reason why business schools so hate Deming. Deming defined the true purpose of businesses. Business schools hate a philosophy where the product and customers are more important than the wealth of an elitist manager.

Welcome to the result of, "If we enrich the richest, than all will have jobs." So many have read the warnings here long ago. Tax cuts and other money games for the rich historically create job losses. Almost ten years of tax cuts and other money games created what? 9% unemployment that could have easily become 40% unemployment.

The richest and their ‘paid for’ political cronies demonstrate what can only be called hate for the rest of America. If they were not hateful, then they would be admitting their 'trickle down economics' was a sham to enrich the richest at the expense of all others. The fact that they still preach Limbaugh spin and money game solutions can only be attributed to hate inspired by contempt. Same hate that empowered Madoff, Skilling, Lay, Fiorina, Nardelli, Nasser, Kozlowski, Akers, Wagoner, and a long list of other enemies of the people.

You may not consider it hate. But if these were decent people, then so many Americans would not have suffered so much at their expense. They did so with ruthlessness that can only exist with hate.

When you are responsible, an indifference comes only from a hate of your charges.

TheMercenary 10-10-2011 08:58 AM

Funny,

Occupy Wall Street Protests Spread Across the Country With No Unified Message


http://abcnews.go.com/US/occupy-wall...ry?id=14696466

TheMercenary 10-10-2011 09:03 AM

Quote:

Originally Posted by SamIam (Post 761778)
Well, there's nothing wrong with making a profit. The problem occurs when companies and CEO's get into the "its never enough" mindset. The problem occurs when profit is worshiped to the exclusion of all else. The problem occurs when the end justifies the means, no matter how immoral or destructive to society at large those means usually are.

I don't think its a matter of the corps or CEO's "hating" the nation. They are indifferent to the nation. All that matters is money which buys power which allows for grabbing more money, etc. The nation and its people are just things which must be manipulated, stepped over or stepped on in the quest for "more". But a CEO doesn't hate the American people any more than you or I might hate an ant we happen to step on.

Well I am quite sure these protests are going to put a stop to all of that!

tw 10-10-2011 09:45 AM

Quote:

Originally Posted by TheMercenary (Post 762166)
Well I am quite sure these protests are going to put a stop to all of that!

Eric Cantor, the Republican majority leader, also expressed the same contempt for Americans who now suffering due to his political agenda, trickle down econmics (also called voodoo economic), Misson Accomplished, and other lies.

Eric Cantor is also most cited for subverting any compromise to solve economic problems. His attitude towards the American worker is similar to TheMercenary's. It's their own fault.

TheMercenary 10-10-2011 03:11 PM


gvidas 10-10-2011 03:39 PM

The exciting thing about these protests, I think, is only just starting: the part where economists and philosophers and social scientists start to get involved. So many political conversations dead end with "well, that could never happen in today's political climate."

This might be a chance to re-evaluate what the political climate really is; to start with the possibilities of human reality, and then work out how to make it a political reality.

Slavoj Zizek at OWS

Quote:

Don't fall in love with yourselves, with the nice time we are having here. Carnivals come cheap—the true test of their worth is what remains the day after, how our normal daily life will be changed. Fall in love with hard and patient work—we are the beginning, not the end. Our basic message is: the taboo is broken, we do not live in the best possible world, we are allowed and obliged even to think about alternatives.[...]

In mid-April 2011, the media reported that Chinese government has prohibited showing on TV and in theatres films which deal with time travel and alternate history, with the argument that such stories introduce frivolity into serious historical matters—even the fictional escape into alternate reality is considered too dangerous. We in the liberal West do not need such an explicit prohibition: ideology exerts enough material power to prevent alternate history narratives being taken with a minimum of seriousness. It is easy for us to imagine the end of the world—see numerous apocalyptic films -, but not end of capitalism.

In an old joke from the defunct German Democratic Republic, a German worker gets a job in Siberia; aware of how all mail will be read by censors, he tells his friends: “Let's establish a code: if a letter you will get from me is written in ordinary blue ink, it is true; if it is written in red ink, it is false.” After a month, his friends get the first letter written in blue ink: “Everything is wonderful here: stores are full, food is abundant, apartments are large and properly heated, movie theatres show films from the West, there are many beautiful girls ready for an affair—the only thing unavailable is red ink.” And is this not our situation till now? We have all the freedoms one wants—the only thing missing is the red ink: we feel free because we lack the very language to articulate our unfreedom. What this lack of red ink means is that, today, all the main terms we use to designate the present conflict—'war on terror,' "democracy and freedom,' 'human rights,' etc—are FALSE terms, mystifying our perception of the situation instead of allowing us to think it. You, here, you are giving to all of us red ink.

TheMercenary 10-10-2011 03:51 PM

I have a better plan....

All corps should lay off all their workers for one month without pay and shut their doors and see if they are worthy of any part of this process. If they are so evil they should just shut their doors and shut off the lights.

classicman 10-10-2011 04:15 PM

Merc, that guy lives on the street adn is in no way what OWS is about.
He says "google me the lotion man on youtube."
I suggest you take him up on it.

classicman 10-10-2011 04:17 PM

Quote:

Originally Posted by TheMercenary (Post 762320)
I have a better plan....

How would that help? Whats the point?

TheMercenary 10-10-2011 04:40 PM

You know what is really funny? These fools protesting are all upset about corps while the NBA is on strike over a 3% difference in profit sharing that involve billions of dollars. Yet no one is all over sports teams. No one is marching on the fool idiots of Hollywood. Yet they point the barrel of their weapon at the very machine that keeps the economy humming along and if it stopped, they would all starve and most likely be killed as a source of food. They don't have a plan or a clue....

piercehawkeye45 10-10-2011 05:41 PM

Quote:

Originally Posted by classicman (Post 762333)
How would that help? Whats the point?

Unless I'm wrong, he is trying to make the point that financial companies and banks play an important role in our economy and affect everyone. Although, by making a hyperbole, he is trying to cut any conversation about reform, which is what the OWSers are going after (besides a few individuals but you cannot generalize with that).

Happy Monkey 10-10-2011 05:51 PM

Quote:

Originally Posted by classicman (Post 762333)
How would that help? Whats the point?

"Going Galt", from Ayn Rand's Atlas Shrugged. Where the rich people run away and form their own society to teach the poor people a lesson.

BigV 10-10-2011 05:55 PM

At Occupy Seattle, local police are citing drivers who honk their horns in support of the demonstrators.

From the local news:
Quote:

Starting at 11 p.m. Friday, police started pulling over and ticketing drivers who honked as they drove past protesters.

When the first car - a taxicab - was pulled over, the protesters followed and shouted at police who then formed a blockade around the driver's cab.

The cab driver was then given a $144 ticket - and protesters ended up handing him money afterwards to help pay for his fine.

"I'm really sorry this happened to you tonight, man," one protester said to the cab driver.
There are numerous copies of the news video.

TheMercenary 10-10-2011 06:34 PM

Awe hell, maybe they should just shoot at them... :rolleyes:

Than you would be completely happy....

Urbane Guerrilla 10-10-2011 09:47 PM

Economic illiterates, is the impression I get. :facepalm: Who can't understand well enough to even want to get better.

I can imagine the cops going, "I think I liked it better when they were all 'Fuck tha Police' instead of the :turd:"

*

*

:corn:

SamIam 10-10-2011 10:32 PM

Quote:

Originally Posted by TheMercenary (Post 762320)
I have a better plan....

All corps should lay off all their workers for one month without pay and shut their doors and see if they are worthy of any part of this process. If they are so evil they should just shut their doors and shut off the lights.

Enough with the references to Ayn Rand's hyperbole. I think American tax payers should have shut off the lights at AIG, Bank of AMERICA, etc., etc., etc., etc. long ago. You wanna know who John Galt is? I'll tell you. He is a businessman whose soul is filled with greed and believes that neither ordinary human morality or basic business ethics apply to him. He was given a golden parachute by his board of directors for running his enterprise into such terrible debt, that only the government he pretends to despise had the resources to save his sorry ass. He is every CEO who helped manifest the banking and financial institution crises. And he has yet to take responsibility for his actions. Not a one of these corporate felons modeled after Rand's favorite criminal have yet to go to trial.

Without the worker/tax payer bailouts, most of your favorite corrupt institutions would be here no longer. Again and again, I have brought up this point, and again and again you refuse to discuss it.

Its as if I were to set up Robin Hood as the be all and end all of wise economic policy. The character of John Galt is attractive to 17 yrar olds who know nothing of economics and business and to adults who wish to live in the Land of Oz. (and I don't mean Australia)

DanaC 10-11-2011 03:50 AM

Well fucking said Sam.

Spexxvet 10-11-2011 07:57 AM

Quote:

Originally Posted by Happy Monkey (Post 762357)
"Going Galt", from Ayn Rand's Atlas Shrugged. Where the rich people run away and form their own society to teach the poor people a lesson.

That wouldn't work out well for rich people. Who would make the products or provide the services for them to sell? Who would make the products or provide the services they need to use? Who would buy the products or service they have for sale?

TheMercenary 10-11-2011 07:52 PM

Quote:

Originally Posted by SamIam (Post 762492)
Enough with the references to Ayn Rand's hyperbole. I think American tax payers should have shut off the lights at AIG, Bank of AMERICA, etc., etc., etc., etc. long ago.

Agreed.

Quote:

You wanna know who John Galt is? I'll tell you. He is a businessman whose soul is filled with greed and believes that neither ordinary human morality or basic business ethics apply to him. He was given a golden parachute by his board of directors for running his enterprise into such terrible debt, that only the government he pretends to despise had the resources to save his sorry ass. He is every CEO who helped manifest the banking and financial institution crises. And he has yet to take responsibility for his actions. Not a one of these corporate felons modeled after Rand's favorite criminal have yet to go to trial.
Bullfuckingshit.. he is the engine that drives the economy and without you would be destitute. And when "he" quits, you are more fucked than you think you are....

Quote:

Without the worker/tax payer bailouts, most of your favorite corrupt institutions would be here no longer.
And without the engine of those willing to sacrifice and put up the capitol there would be no jobs, so you fail again....

Quote:

Its as if I were to set up Robin Hood as the be all and end all of wise economic policy. The character of John Galt is attractive to 17 yrar olds who know nothing of economics and business and to adults who wish to live in the Land of Oz. (and I don't mean Australia)
Cool... How did that work out for you bleeding hearts in the last election?

classicman 10-11-2011 09:22 PM

He may be the engine, but that engine won't run without fuel either. We are mutually linked. There cannot be one without the other in a functional situation. Currently this engine is burning WAY TOO MUCH fuel.

DanaC 10-12-2011 02:19 AM

Quote:

Originally Posted by classicman (Post 762810)
He may be the engine, but that engine won't run without fuel either. We are mutually linked. There cannot be one without the other in a functional situation. Currently this engine is burning WAY TOO MUCH fuel.

Beautifully put, Classic.

ZenGum 10-12-2011 02:55 AM

To take that analogy, there are leaks in the fuel line, and a lot of the fuel isn't even getting inside the engine.

Quite a lot of business - even financial business - is of net benefit to society at large. Only a tiny number of the people protesting here want to shut it all down.

A significant portion of business, especially international finance, is not of net benefit to society as a whole, but rather imposes a cost on society, in order to enrich the few involved in the deal. This is the bad sort of capitalism. These are the leaks. This is what people want stopped.

I doubt anyone thinks that distinguishing the two will be easy, or that setting rules that allow the first and limit the latter will be easy, but that is no excuse to not make a start. Instead, what we see is these parasitic wealthy effectively buying control of government and skewing things even more in their own favour.

DanaC 10-12-2011 03:13 AM

A recent study showed that 98% of FTSE 100 companies have off-shore subsidiaries based in tax havens.

Perfectly legal of course, but it kind of sticks in the craw when many of the banks that the public bailed out (and indeed in at least one case currently have part ownership of) are included in that list.

So, they broke the economy and were too big to fail, so we gave them barrel loads of cash and they take their profits and run, paying as little as possible back into the country who allowed them to make that profit, and even helped pay for it.

ZenGum 10-12-2011 04:45 AM

Here is an expert explaining it much better than me:

Quote:

The US Banking Act of 1933, commonly called Glass-Steagall, enforced the separation of investment banking (the issuing of securities) and commercial banking (accepting deposits and making loans).

It was repealed after Citibank, in flagrant contravention of the act, announced the acquisition of the investment banking giant, Salomon Smith Barney, in 1998.

Alan Greenspan, then chairman of the Federal Reserve Board, colluded with the president of Citibank, Sandy Weill, by using an obscure provision of the Bank Holding Company Act that allowed the merger to go through temporarily - with two years grace to divest the investment bank operations.

Greenspan then pressured Congress throughout 1999 to repeal the Glass-Steagall provisions, which it eventually did in November that year with the Gramm-Leach-Bliley Act - a law that led directly to the global financial crisis of 2008.

Banks were able to use the privilege given to them to "issue currency", as Jefferson put it, by leveraging their capital far more than any other company - 92 cents of every dollar deposited with a bank can be lent out as fresh money to someone else, thus creating money out of thin air.

After November 1999 the newly-freed banks went berserk, leveraging their capital far more the normal 12.5 to one by using financial engineering and by trading derivatives to increase profits and create huge bonuses for the executives, who rapidly became a kind of plutocracy, controlling vast wealth and running the country.

As we know, they got into trouble and had to be bailed out by US taxpayers.

And now the politicians in Europe at least are trying, feebly, to get back some of the control that was lost. In the US they're not really even trying: cheque after cheque has simply been written to the banks; first TARP, then QEs 1 and 2. The money went straight to executive bonuses - they didn't even bother hiding it.

Now the people themselves are rising up against the plutocracy, with protestors filling Wall Street.

SNIP

Alan Kohler is the Editor in Chief of Business Spectator and Eureka Report, as well as host of Inside Business and finance presenter on ABC News.
The whole article is worth a read. It also discusses Europe and mentions Australia.

Trilby 10-12-2011 06:40 AM

Wasn't Alan Greenspan an original member of the Collective?

Lamplighter 10-12-2011 09:30 AM

Thanks Zen, that is a great link
Can't say I understood all first part about Europe, but the part on the US made sense.

tw 10-12-2011 10:13 AM

Quote:

Originally Posted by Lamplighter (Post 762949)
Thanks Zen, that is a great link
Can't say I understood all first part about Europe, but the part on the US made sense.

Understand the underlying concept. Some industries can prosper with less regulation. Finance is not one of them. We created all these problems by deregulating the finance industry. That industry can never have enough regulations. In part, because the industry believes profits - not the product - are the only purpose of a business. Because the finance industry and the mafia share a common belief.

I routinely ask bankers about Glass-Stegall. Not one knew what it was. What it did was address a fundamental problem when commercial banking and investment banking is in one house. They learned that the hard way in the 1920s. Due to so much education only from soundbytes, we must now learn that all over again.

BTW, I do not see why what applies to Europe is any different then what applies to America. Had you been following what was posted before George Jr administration all but created this recession, then you knew about Basil I. And why George Jr, et al were doing everything possible to keep it out of America. Basil I and II would have sharply blunted a financial crisis and that absolute resulting need for TARP.

Also not mentioned is what should be standard in all financial industries. All contracts should be traded on open markets. No most secret SIVs and CDOs. Transparency is critical to a responsible economic system. All those secret back room deals are whey Greece could pile on debt without anyone knowing how bad it was going back to the 2000 Olympics. Bankers don't like transparency. Then they cannot skirt the law.

Long Term Capital Management was another example of secret money games to enrich the rich. That also cost many Cellar Dwellers their jobs. Anyone concerned about their decreasing standard of living would know why LTCM simply warned of what was coming. And what happens when the elitists, using a propaganda machine, keep us all ignorant of what almost happened. Propaganda machines including those from Berlusconi of Italy and Murdoch.

But again, we cannot ever over regulate the finance industry. Due to an embedded concept routinely taught in business schools. That a business only exists for its profit. Also called corruption. Basil x (which every adult should have known about) requires transparency and reserves greater reserves behind questionable transactions. Everyone should have known why the Basil regulations are so important to the economic welfare of common Americans (at the expense of the uber-rich).

SamIam 10-12-2011 02:27 PM

Quote:

Originally Posted by TheMercenary (Post 762763)

Bullfuckingshit.. he [John Galt] is the engine that drives the economy and without you would be destitute. And when "he" quits, you are more fucked than you think you are....

If his company is one out of the 7 or 8 which paid no taxes last year; if his company is one of the ones that held out it hand for bail-out and other funds from the government; it his company is one of the ones that outsourced its jobs overseas - in other words the typical American company, we're all better off without him.

Quote:

Originally Posted by TheMercenary (Post 762763)
And without the engine of those willing to sacrifice and put up the capitol there would be no jobs, so you fail again....

I have no problem with individuals or investors' legitimately raising capitol. That means no government handouts and no sweet deals with banks which then cause the bank to collapse.

Quote:

Originally Posted by TheMercenary (Post 762763)
Cool... How did that work out for you bleeding hearts in the last election?

I was not aware that Mr. Hood ran in the last election. Besides, I was using him as an example of going to far to the left which doesn't work either.

DanaC 10-12-2011 04:23 PM

Quote:

Originally Posted by Brianna (Post 762912)
Wasn't Alan Greenspan an original member of the Collective?

That Rand's little group of acolytes? Yes, he was.

Trilby 10-12-2011 04:40 PM

Quote:

Originally Posted by DanaC (Post 763175)
That Rand's little group of acolytes? Yes, he was.

thought so.

Ayn Rand - no God other than She!

Fucked philosophy. Totally fucked. I hope she's burning in hell. Well, at least a little part of her, anyway. ;)

classicman 10-12-2011 04:55 PM

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