Occupy Wall Street Movement Is a Year Old: Did it Change Anything?
Chris D
2012/09/17 19:00:00
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It must get tiring camping out in front of the Stock Exchange and complaining that there are no work opportunities, because the crowds have gone home -- hopefully to a place to live and a job. The campers did have a point though.
The banks caused a huge crisis by repackaging crappy defaulting loans and selling them back to us as mortgage-backed securities and "derivative" investment products. That's a nice magic trick...then once it all blew up, the the politicians used tax payer money (otherwise known as TARP funds) and bailed the bankers out, so they could still get their bonuses. Maybe the bankers who were paying big money to the election campaigns (on both sides) were cashing in their influence? Either way, the whole thing sinks. So maybe we should be able to regulate the financial services industry a bit better so that banks can't defraud America. Isn't that the government's job?
How did the industry ever get deregulated in the first place? Well, the whole cause of this mess can be traced back to when Bill Clinton signed the The Gramm–Leach–Bliley Act, also known as the Financial Services Modernization Act into law in 1999, repealing part of the Glass–Steagall Act of 1933, removing barriers in the market among banking companies, securities companies and insurance companies that prohibited any one institution from acting as any combination of an investment bank, a commercial bank, and an insurance company. Voila, the fox was now guarding the hen house, and guess what happened?
So the government causes the problem by letting banks self-regulate their businesses. The Occupy Wall Streeters started with a good high level complaint, but then the cause spiraled into a sloppy self, indulgent mess that became an attraction for petty criminals and anyone looking to cause trouble. Did the movement change anything or was it all just noise?
CNN.COM reports:
The banks caused a huge crisis by repackaging crappy defaulting loans and selling them back to us as mortgage-backed securities and "derivative" investment products. That's a nice magic trick...then once it all blew up, the the politicians used tax payer money (otherwise known as TARP funds) and bailed the bankers out, so they could still get their bonuses. Maybe the bankers who were paying big money to the election campaigns (on both sides) were cashing in their influence? Either way, the whole thing sinks. So maybe we should be able to regulate the financial services industry a bit better so that banks can't defraud America. Isn't that the government's job?
How did the industry ever get deregulated in the first place? Well, the whole cause of this mess can be traced back to when Bill Clinton signed the The Gramm–Leach–Bliley Act, also known as the Financial Services Modernization Act into law in 1999, repealing part of the Glass–Steagall Act of 1933, removing barriers in the market among banking companies, securities companies and insurance companies that prohibited any one institution from acting as any combination of an investment bank, a commercial bank, and an insurance company. Voila, the fox was now guarding the hen house, and guess what happened?
So the government causes the problem by letting banks self-regulate their businesses. The Occupy Wall Streeters started with a good high level complaint, but then the cause spiraled into a sloppy self, indulgent mess that became an attraction for petty criminals and anyone looking to cause trouble. Did the movement change anything or was it all just noise?
CNN.COM reports:
Police encircled Lower Manhattan's Zuccotti Park on Sunday as protesters geared up to observe the one-year anniversary of Occupy Wall Street.
Read More: http://www.cnn.com/2012/09/16/us/ny-occupy-anniver...
Occupy was very unorganized, the only people who would think otherwise is people who dont have a clue how to organize in the first place.
This is not a movement to promote egalitarianism. It is government sponsored theft which is an accurate description of Marxism and our current POTUS.
The only problem with your pathetic narrative?
GOVERNMENT is the biggest exploiter of the working man and the OWS scum bags are instruments of the socialist grand larceny.
The day I listen to an OWS doped-out hipster lecture me on social justice is the day I listen to Lindsay Lohan lecture me on being a responsible citizen.
as any thought outside of spoon fed FAUX talking points and your vulgar diatribes would only confuse you.
Clearly you are the one lacking substance and soaked in narrative.
The thing you dont have is one shred of understanding or FACTS to back up your unfounded bias. I am not surprised ... you have closed off your brain, eyes and ears to any FACTUAL content that doesnt agree with your brand of political religion.
Limbaugh and Savage are on Fox now? I didn't know.
I have spoken directly to the facts. You have attacked personally.
I bet the irony is lost on you.
Please, by all means, point out ONE FACT that you have provided. I'll be patiently LMAO while you search for one.
http://commoncts.blogspot.com...
I see guy fawkes mask, I grab my pepper spray.
You are rabid dogs that should be caged for the good of society.
It's idiots like you that incite the riots... punching people and pper spray come on... please
Oh and now YOU ARE by your own definition a "criminal scumbag" lol
Yes, I am laughing at you. Pathetic
I doubt it!!
"Intolerance is itself a form of violence and an obstacle to the growth of a true democratic spirit."
Mahatma Gandhi
"A belligerent state permits itself every such misdeed, every such act of violence, as would disgrace the individual."
Sigmund Freud
"Social justice cannot be attained by violence. Violence kills what it intends to create."
Pope John Paul II (I was raised catholic but no long support/practice it)
"Violence, even well intentioned, always rebounds upon oneself."
Lao Tzu
"A fascist is one whose lust for money or power is combined with such an intensity of intolerance toward those of other races, parties, classes, religions, cultures, regions or nations as to make him ruthless in his use of deceit or violence to attain his ends."
Henry A. Wallace (YOU ARE the tool here)
"The American fascist would prefer not to use violence. His method is to poison the channels of public information."
Henry A. Wallace
Oh not it's your business, at all, but I have live on my own for over 11yrs (since I was 18)... any other doozies???
I guess to you, soccer is about as rough as you want to play.
Can't blame you, princess.
I bet you think princess is one of those tough guy insults. LOL.
Did you borrow your mask from the guys that murdered our ambassador or did you lend them yours?