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Essentially the world is protesting against YOU

  • #21
  • Oct 16, 2011 8:27am Oct 16, 2011 8:27am
I never met anyone successful who walks around blaming people if he fails at something, the same here yelling the big companies or whatever are to blame are the same who are losers in forex and everything else they touch

plenty of ways to be successful, you continue blaming and this world will send you right to the poorhouse, nothing is about to change (even thou I agree many things should) so you might as well stop the bickering and try your best to make something out of yourself
  • #22
  • Oct 16, 2011 8:35am Oct 16, 2011 8:35am
Quoting ha-pattern
That, I agree with: TARP was a success.
Quote
Government officials overseeing the bailout have acknowledged difficulties in tracking the money and in measuring the bailout's effectiveness.[66]

During 2008, companies that received $295 billion in bailout money had spent $114 million on lobbying and campaign contributions.[67] Banks that received bailout money had compensated their top executives nearly $1.6 billion in 2007, including salaries, cash bonuses, stock options, and benefits including personal use of company jets and chauffeurs, home security, country club memberships, and professional...

Yeah, right sir! It was a huge success with the top execs and other high-ranking crooks with access to the higher ranks. Probably quite a few got themsleves upgraded residences in Hampton's and Beverly Hills.
  • #23
  • Oct 16, 2011 8:52am Oct 16, 2011 8:52am
Quoting Hedge212
there are a ton of engineering jobs all over the USA I just did a few searches on job sites, I had no clue there are so many openings, then I came across this write up

http://www.cnbc.com/id/44888058

This is nothing more than a blame game... because as you know any job offer is a game of wills when it comes down to negotiating pay.

Many of these companies that claim they can't find anyone smart enough will also on the back side be trying to get someone stupid enough to accept less pay.

Then think about job conditions... if they are short 5 people or more and you sign on then how many jobs will they force you to do... mandatory overtime etc. Some people have better things to do than be a corporate slave for a cheap ass company who intentionally keeps wages low because their over-time pay is thru the roof.

Working 70 hours a week gets old in a hurry.
  • #24
  • Oct 16, 2011 9:03am Oct 16, 2011 9:03am
Quoting seagreen
Wow, I thought most people here would support the movement.
I'm surprised most of the people after your post are against the financial institutions. Good grief, yes, the banks overleveraged themselves and it was a mistake for Bush 43 to remove the separation of Investment and Depository banks, but none of that would have even been an issue without the CRA coupled with the housing bubble. Back in the 90s the banks were gladly doing simply what the government was requiring or encouraging them to do, all in the name of the Warm Fuzzies.

Trillions of dollars of bad mortgages given to deadbeats came home to roost.
  • #25
  • Oct 16, 2011 9:28am Oct 16, 2011 9:28am
Quoting Rob Mondave
Back in the 90s the banks were gladly doing simply what the government was requiring or encouraging them to do, all in the name of the Warm Fuzzies.

Trillions of dollars of bad mortgages given to deadbeats came home to roost.
It's just that see it as....

Banks in the 90's did what they lobbied and paid politicians to allow them to do, and it was certainly worth it to them. The ones who were deepest in raw sewage got the fattest chunks of the bailout pie while at the same time time obliterating a good portion of their 'unconnected' and book balanced competition in the maelstrom that ensued.

PURE organized crime on a level unparallelled in human history, but what's to be bothered by?

Steal a newspaper go to jail. Steal thousands of pensions get a bonus.... It's not about whiners even though there are certainly plenty of those, it's about not being able to deal with the level of moral depravity that currently has control of public policy, sadly this sentence is not country specific, it's EVERYWHERE.

I was going to say something political but then I remembered that beer existed so I'm going to go find and enjoy some instead before the weekend is over. Enjoy what's left of it.
  • #26
  • Oct 16, 2011 10:09am Oct 16, 2011 10:09am
From the wikipedia article:

Quote
Relation to 2008 financial crisis
Relation to 2008 financial crisis

See also: Subprime mortgage crisis and Global financial crisis of 2008–2009
Some economists, politicians and other commentators[105][106] have charged that the CRA contributed in part to the 2008 financial crisis by encouraging banks to make unsafe loans. However, every empirical study that has looked at CRA loans has concluded that they were safer than subprime mortgages that were purely profit driven, and CRA loans accounted for a tiny fraction of total subprime mortgages
.
Vote libertarian. Stop the madness.
Inserted Video
  • #27
  • Oct 16, 2011 10:17am Oct 16, 2011 10:17am
Quoting Marv
No they're not. They're protesting against the world's current financial/corporate elite. I say it's about fucking time!

We're all for capitalism here. - I love capitalism, I do however despise corporatism. It's a shame that most can't seem to differentiate between the two.



+1

Nice sig by the way. William Blake is cool.
And by extension it's a protest against the corruption of the government, its total lack of responsibility for the stewardship of the country, its blind arrogance towards the world, and self-serving, idiotic dumbing down of the political system.

I say it's about fucking time as well.

And how anyone who is not a member of the capitalist/political elite supports them is just unbelievably mind blowing, but it's actually known as participating in your own oppression.
  • #28
  • Oct 16, 2011 10:24am Oct 16, 2011 10:24am
Quoting ha-pattern
That, I agree with: TARP was a success.
Tis true. TARP was a success ..........for the banks....who were allowed to consolidate their power in the end by buying up even more banks and becoming more "too bigger to fail".

What would have been nice would have been a bailout to the american people in the form of infrastructure spending and major Rooseveltian public works programs. This would have led to far less economic contraction and possibly even growth....which in either case would have been considered an overall success.
  • #29
  • Oct 16, 2011 10:57am Oct 16, 2011 10:57am
Quoting ^eagle^
From the wikipedia article:

Vote libertarian. Stop the madness.
http://www.youtube.com/watch?v=tZmDWltBziM
Except that 'Empirical Evidence' was concluded in 2000, a few years before the drop in housing prices and the massive defaults.

You guys can't tell me that Fannie and Freddie, which only engaged in the mandated CRAs, are in good shape and standing on firm ground. And these two are essentially run by the government.

The basic problem is not with corporate greed, although, like Marv I'm not a fan of Corporations. The problem is a meddling, micro-managing ideology which is driven by the Warm Fuzzies, not sound economic sense.
  • #30
  • Oct 16, 2011 11:00am Oct 16, 2011 11:00am
Tradecorps:

Well you've heard of the peace corps, enter: The Trade Corps.

Mission: Form a nationwide loosely affiliated group of citizens that derive any amount of money from some sort of trading activity.

Mobilize the nation with the typical "grassroots" marketing. "Brainwash" them to believe they can make money WITHOUT relying directly on a corporation.

Turn this into a political party that is neither repub or democract that may take aspects from both, but would not need money from outsiders.
Contributions would be a condition of being in the party(profitable traders),so it's very existence would eliminate the need for BRIBES oops I mean campaign contributions. Wow what would a world like that be like.

The problem today is that the GUVMINT policy making process is owned by highly organized special interests groups like AIPAC. Do we want outside countries dictating how the U.S. decides to police the world?

Holla.
  • #31
  • Oct 16, 2011 11:11am Oct 16, 2011 11:11am
The banks and every other corporate entity is fueled by Wall Street and any way they can keep posting record profits.

They will do this anyway they can, cheating on accounting methods etc. Before all this in the late 90's we had the internet boom and companies worth millions and some cases billions just based on "paper" what they might be worth.

99% of them didn't have a dime in earnings. They spent whatever seed capital they had... money was cheap and it seemed like a never ending supply of capital until one day the river dried up.

Where did the river go? "Hey, buddy if you buy this house you can flip it a few months later and make 20% on your money. In some cases you might make 50%. RealEstate you can't lose it always holds it's value."

Where did that river go? "Hey, buddy the world is running out of oil. The world isn't making any more we are almost out. There is no way you can lose because we are almost out... we are talking bone dry ok?"

Where did the river go? "Hey, buddy there's this great little hedge fund... it's a sure thing. You can't lose because you are "hedged" so you never have to worry one bit about losing any money... wink-wink."

Where did the river go? "Hey, buddy the real money is in CDS and CDO's... yeah that's the real money. Get it while you can, you can't lose."

Where did the river go? "Hey, buddy Gold is the most precious metal and it's scarce! All these fiat currencies are going broke... you need gold man! Hey, I've never steered you wrong before. Buy as much gold as you can $1900 an ounce is CHEAP!"

Where's the next river, I wanna ride....


  • #32
  • Oct 16, 2011 11:59am Oct 16, 2011 11:59am
Wow! I haven't kept up about the bank bailouts, having left trading stocks as they crashed. I was only going with the "clean" version of TARP, similar to here.
  • #33
  • Oct 16, 2011 12:05pm Oct 16, 2011 12:05pm
Quoting Rob Mondave
Except that 'Empirical Evidence' was concluded in 2000, a few years before the drop in housing prices and the massive defaults.

You guys can't tell me that Fannie and Freddie, which only engaged in the mandated CRAs, are in good shape and standing on firm ground. And these two are essentially run by the government.

The basic problem is not with corporate greed, although, like Marv I'm not a fan of Corporations. The problem is a meddling, micro-managing ideology which is driven by the Warm Fuzzies, not sound economic sense.
Exactly, The whole debt based monetary system is a sham. a farce. a shell game with the central banks printing money whenever the banks need a bail out and is paid for as inflation by You and me.

Money only has to be backed by the ability to pay taxes and the supply is to be controlled. IT could be backed by cow poop (actually done in Tibet). What backs it is not what is important. Only its value. And the government can issue its own money backed only by the ability to pay taxes if it wanted to. Problem is the central banks and Big corporate banks make a killing off interest and swaps. No way they gonna give that up. the last president who tried it got his head blown off.
  • #34
  • Oct 17, 2011 5:45am Oct 17, 2011 5:45am
Right. Corporations, investment banks, conspiracies, killed presidents, fat cats.

The morons on the streets are financially illiterate. They have no idea where the money come from, what is the role of the government and the role of the banks, what a bond is or what the FED is doing.

The root of the problems is ALWAYS the government, its spending and its promises. Would Greece be in this situation if its governments wouldn't have borrowed like crazy against the smallest fiscal discipline, just to pay people until the next election? And if any sane person agrees with that, why don't those on the streets demonstrate against their government first and then against the banks.

One needs 47 days in Spain to start a business but the morons think that the financial system is the culprit for the highest unemployment in Europe.

And it is absolutely normal that young and smart people choose carriers in investment banking instead of engineering, in US or UK. The govs are completely hostile to the small businesses and they don't let the companies hiring and firing people as they'd like.

So you can all scream against trading and derivatives but look under the hood and you'll find the government.
  • #35
  • Oct 17, 2011 8:53am Oct 17, 2011 8:53am
I think the derivatives is just another thing to trade, it was more or less fueled by the success of the other markets.

When you think of a market like wall street for example the premise is to share the wealth or the loss of what ever company you are trading.

The health of the company is or should be directly reflected in the stock price. Over time companies would cheat via accounting tricks so as to inflate their stock price.

If you're dealing with derivatives how do they cheat to make themselves more desireable? Me thinks it's all in the wrapper... It's when governments have got involved to bail out that things have tipped entirely out of control.

The banks should never have been allowed to trade them for the sake of the health of the financial system. They are no longer satisfied with slim gains... because they know Wall Street won't like it and the stock price takes a hit and the vicious cycle starts anew.

Wall Street fuels it by the constant need to beat Earnings projections.
  • #36
  • Oct 17, 2011 10:05am Oct 17, 2011 10:05am
Quoting Rob Mondave
I'm surprised most of the people after your post are against the financial institutions. Good grief, yes, the banks overleveraged themselves and it was a mistake for Bush 43 to remove the separation of Investment and Depository banks, but none of that would have even been an issue without the CRA coupled with the housing bubble. Back in the 90s the banks were gladly doing simply what the government was requiring or encouraging them to do, all in the name of the Warm Fuzzies.

Trillions of dollars of bad mortgages given to deadbeats came home to...
The creation of MBS was one of the causes of housing bubble.
  • #37
  • Oct 17, 2011 10:18am Oct 17, 2011 10:18am
Quoting Sauron

Would Greece be in this situation if its governments wouldn't have borrowed like crazy against the smallest fiscal discipline, just to pay people until the next election? And if any sane person agrees with that, why don't those on the streets demonstrate against their government first and then against the banks.
Yes Greece would be in a similar situation even if they ran fiscal surpluses. The evidence points that it was current account deficits rather than fiscal deficits. Once the capital started to flow out of country Greece could no longer pay their debts.

http://streetlightblog.blogspot.com/...isis-part.html
  • #38
  • Oct 17, 2011 10:29am Oct 17, 2011 10:29am
Quoting Sauron
So you can all scream against trading and derivatives but look under the hood and you'll find the government.
http://en.wikipedia.org/wiki/Lobbyin...ture_by_sector
  • #39
  • Oct 17, 2011 11:02am Oct 17, 2011 11:02am
educate yourself

http://beta.finance.yahoo.com/video/...-26975321.html
  • #40
  • Oct 17, 2011 11:44am Oct 17, 2011 11:44am
Quoting travpip
99% of the world is protesting at what your "trying" to achieve.........
True capitalists have a "fuck society" attitude.

If I gave a crap about what some cockroaches thought, I wouldn't be trading.

This is an equal opportunity market. Anyone has an opportunity to succeed. Not my fault everyone else fails miserably and suck at their lives.

I don't give a rat's ass if some disgruntled LOSERS are unhappy about their sorry, miserable existences. They can rant and rave all they want and watch me continue to "steal" everyone's money.

If I actually cared what they thought, I'd be LAUGHING about it. Too bad I don't even care enough to do that.

FAIL.

And FYI, if anyone here doesn't share a similar attitude, then you're in the WRONG business, buddy.

Trading/investment if the art of stealing money legally. Simple as that. Success or failure in the market is what separates the strong from the weak. No cockroaches are going to influence how I think or what I do, legally, physically, or otherwise.
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