
Occupy Wall Street Movement Is a Year Old: Did it Change Anything?
Chris D
2012/09/17 19:00:00
|
|
|||||
|
175 votes
|
|
16% | |||
|
726 votes
|
|
67% | |||
|
175 votes
|
|
16% | |||
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...
Top Opinion
-
Yes





















Was there anything so embarrassing to the world as those mumps??
and i'm a Militant Libertarian who believes that the money an individual possesses is theirs alone, and nobody else is entitled to a cent of it.
someone's gotta pay for it in the end, and is sure as hell won't be me.
i've got bills to pay, a stomach to feed, and a retirement to save for, so i can't spare a dollar.
why am i arguing with someone who doesn't even live in the same country? go back to your tea and crumpets, you bucktoothed limey bastard!
this conversation has ended.
Only point I can disagree with in your statement would be 'America is considering voting.' GOP-controlled Ohio is being rigged for Romney as we play on this site, and Pennsylvania's House Majority Leader bragged ~ on video ~ to fellow Republicans that PA's Voter ID law 'is going to allow Governor Romney to win the state of Pennsylvania' (PA has gone Democratic in the past few presidential elections).
And, unfortunately, neither UN monitors nor Jimmy Carter will be watching to ensure that Americans have the benefit of a 'free and fair election.'
Romney has already been 'voted into office' before the Election. Just as, before him, Bush was ~ twice.
"Confirmation Bias
A cognitive bias is a tendency to think in one way and not another when faced with certain situations. Every brain in every body comes preloaded with cognitive biases and then adds some more as it navigates through life.
Like most people, you are biased to notice, remember, and seek out information that confirms your beliefs and opinions while ignoring, forgetting and outright avoiding information that disconfirms your pre-existing notions.
The things you place on your bookshelf, the sites you add to your web-browser’s bookmarks, and the sources you trust for daily news are all selected through the lens of your confirmation bias. When you head to the opinions pages or flip the channel to your favorite pundit, you don’t do so out of desire for information, but out of a need for confirmation of your beliefs and a desire for validation of your ideas."
Mitt's comment about the 47% was a strategic analysis -- though it showed shameless pandering to that audience of wealthy elitists. If we were to define him more on this event, it would say more about...
"Confirmation Bias
A cognitive bias is a tendency to think in one way and not another when faced with certain situations. Every brain in every body comes preloaded with cognitive biases and then adds some more as it navigates through life.
Like most people, you are biased to notice, remember, and seek out information that confirms your beliefs and opinions while ignoring, forgetting and outright avoiding information that disconfirms your pre-existing notions.
The things you place on your bookshelf, the sites you add to your web-browser’s bookmarks, and the sources you trust for daily news are all selected through the lens of your confirmation bias. When you head to the opinions pages or flip the channel to your favorite pundit, you don’t do so out of desire for information, but out of a need for confirmation of your beliefs and a desire for validation of your ideas."
Mitt's comment about the 47% was a strategic analysis -- though it showed shameless pandering to that audience of wealthy elitists. If we were to define him more on this event, it would say more about his groveling for support than how he would actually govern. His prior record showed him more of a centrist than a R wing elitist. What was worrisome is more his being a chameleon than what were perceived to be his true colors. Obama played the same game and did it better. His statisticians and strategists targeted the 6% between them and won convincingly.
Your comment that you do not need to work will engender some biases though it is not for me to have any inkling of what those comprise. One of the newer theories on reasoning is that our "reasoning" is meant to be argumentative and but not necessarily correct (though it can be) due to confirmation bias ... rather it is meant to enhance our own biases in a social milieu such that the mixture of differing arguments can ferret a better group agreement (if not consensus) for action. Experiments in Psychologic Sciences have determined that, for most, if left to make decisions purely on our "own reasoning," we tend to be erroneous. Interesting and explains a lot, esp in the blogosphere.