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Wall Street Protestors

Discussion in 'Sports and News' started by Boom_70, Oct 7, 2011.

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  1. Azrael

    Azrael Well-Known Member

    Sorry, I should have said "Save us, competely impartial journalist Tucker Carlson!" I regret the error.

    As to the rest of it, we haven't really heard anything of substance about Occupy Wall Street, period. The press ignored it until that shift commander maced those kids last week. I have no idea what the demographics are down there.
     
  2. cjericho

    cjericho Well-Known Member

    If he can find enough things to protest he can keep some people employed.
     
  3. vicd

    vicd Active Member

    I saw that story about Michelle Malkin on FOX too. I counted at least 6 black people in the photo they used. But I'm sure those are the only six in the thousands that are marching.
    [​IMG]
     
    Last edited by a moderator: Dec 15, 2014
  4. YGBFKM

    YGBFKM Guest

    I'm quietly protesting through my Occupy a Job campaign.
     
  5. CarltonBanks

    CarltonBanks New Member

    Right, because the video with the man saying, "Some of them are volunteer and some of them aren't." And refusing to identify which ones he paid is unreliable. Who are you going to believe? The video or your lying eyes?
     
  6. The Big Ragu

    The Big Ragu Moderator Staff Member

    Ask Henry Paulson (former CEO of Goldman Sachs before he was Treasury Secretary) why the TARP program and those payouts were so damned important?

    I will caution about the overgeneralization, though. Paulson put the heads of nine of the largest banks in a room, and used the full force of regulatory threat to force them to take that TARP money. The document that came out through the FOI showed that he put a very LARGE gun to their heads. A couple could really have used that money, and still didn't want it, because they feared the government control. About half of those banks didn't need any bailout to survive, most notably J.P. Morgan Chase.

    Now look at the flip side if we didn't have that day when they were all summoned to their arm twisting ceremony. The weak banks would have gone out of business. The stronger ones (such as Goldman and J.P. Morgan) would have benefited from their demise. We'd all be in a better place probably today, as a result.

    Instead, we rewarded mismanagement at the cost of billions that we are all on the hook for. Jamie Dimon -- whose job WAS AND IS to maximize profits -- should have been telling his board that the failures that would have occurred would be a great thing for J.P. Morgan Chase, because his company would have benefited from the failures of some of its competitors.

    Instead, we had Hank Paulson, Ben Bernanke and Tim Geithner playing God, though, and Dimon couldn't look out for the best interests of his firm, because it would have meant the wrath of what those three could do to his company if he didn't play along with their scheme.

    What are we left with today? Not a tale about how the whole TARP thing was thought up by a couple of unelected officials who forced it down our collective throats. We get, "Why did we spend hundreds of billions to keep them afloat, and why are we spending billions more trying to bribe them to actually lend money to people?"

    Great question. Why did we?
     
  7. deskslave

    deskslave Active Member

    Because multiple massive bank failures are things that generally have a negative effect on, like, everything?

    Three or four major banks fail, and people start assuming that all banks are in trouble. All of a sudden, they start pulling their money out of not only the big banks, but also the First Bank of Podunk. That in turn leads to trouble for First Bank of Podunk, which eventually leads to massive losses on deposit insurance and the like. Not to mention the original panic leads to the devaluation of the currency, which means our money is suddenly worthless and our economy is paralyzed.

    And of course, when the depositors leave, with them goes the ability to make loans. Which is, again, not exactly a good thing.

    But, ya know, trying to prevent that DID deprive JPMorgan Chase of a chance to make more money. So that was unfortunate. I mean, it ONLY made $5.4 billion last quarter.
     
  8. Azrael

    Azrael Well-Known Member

    Privatize profit. Socialize loss.
     
  9. Boom_70

    Boom_70 Well-Known Member

    I always knew that John Belushi was still alive.
     
    Last edited by a moderator: Dec 15, 2014
  10. Flying Headbutt

    Flying Headbutt Moderator Staff Member

    Just when I think Eric Cantor can't get any more clueless and abrasive...

    http://firstread.msnbc.msn.com/_news/2011/10/07/8206043-cantor-says-hes-concerned-by-mobs-at-occupy-wall-street
     
  11. Azrael

    Azrael Well-Known Member


    Goddamn beatniks.
     
  12. vicd

    vicd Active Member

    That's the third, less famous brother "Little Joe Belushi"
     
    Last edited by a moderator: Dec 15, 2014
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