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Thread: Labor Unions Join Wall Street Occupiers for "Mass Rally'

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    Re: Labor Unions Join Wall Street Occupiers for "Mass Rally'

    Quote Originally Posted by nonpareil View Post
    No, it's smart and healthy as long as it's done in a non-violent manner. Expressing anger in a rational manner lets you understand if your anger has a reasonable basis and if so to do something about it, or if not, to understand that and let it dissipate. People who hold onto their anger or try to suppress it might end up with a violent outburst, or causes friction in their relationships or problems in their life. With regards to the public, they have a right to express their anger at public policy, it's also healthy so that others who feel the same know they have solidarity and maybe form a movement to the institute the changes they want to see in their government and society.

    Now the changes they want to see happen might be stupid - but that's subjective and a separate issue.
    That's the way this is headed. They are angry but cannot offer any realistic solutions. They are not the best America has to offer.

    Because they have no real ideas they'll be yesterdays new quite quickly.

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    Re: Labor Unions Join Wall Street Occupiers for "Mass Rally'

    Quote Originally Posted by Temporal View Post
    That's a change of tune. I thought that the protesters were a bunch of liberals? Funny how these "liberals" are in full protest in a liberal city, under a Democratic President.

    It should be obvious to you by now that these partisan games are not applicable anymore. People are fed up and the movement is spreading. If conservatives don't want to get on board because they don't want to be seen with their political rivals, then oh well. What they're protesting about applies to all of us anyway.
    I'm expecting the "lpast" ex-Republicans to jump aboard at any minute.

    There's an amazing amount of congruence between OWS and the Tea Party, actually. At the heart of their messages.
    Anyone wondering what I'm talking about start here:
    The Psychology of Persuasion

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    Re: Labor Unions Join Wall Street Occupiers for "Mass Rally'

    Unions that protect working less, for more money, unite in solidarity with young self-described intellectuals who also do (and know) very little, to protest essentially nothing they can put their finger on. (because that would require work of course)

    I can understand protesting Washington to regulate the finance industry. But all this "solidarity" and "you stole the american dream", and entitlement nonsense is just absurd. While you're crying, that Vietnemese girl who was raised in a refugee camp and slept for years on a cot, just did better than you on the SAT. Wake up, you're being passed up and you don't even know it.

    What a ****ing joke. What are they resisting, working for a living? What are they promoting, according to them, intolerance? Too funny.

    Occupy Wall Street | NYC Protest for American Revolution
    Occupy Wall Street is leaderless resistance movement with people of many colors, genders and political persuasions. The one thing we all have in common is that We Are The 99% that will no longer tolerate the greed and corruption of the 1%. We are using the revolutionary Arab Spring tactic to achieve our ends and encourage the use of nonviolence to maximize the safety of all participants.

    I've seen no significant evidence that corruption had ANYTHING to do with the economic collapse. And greed is moot, everyone including the workers and the union, all want a buck. How foolish can you get.

    Blacks were literally enslaved and discriminated against, some arab nations have brutal authoritarian regimes with terrible individual rights and even worse economies. But the hip kids in the U.S. whose poverty level surpasses half of the worlds middle-class, they are FIGHTING THE POWAH!
    Last edited by Mach; 10-06-11 at 04:16 PM.

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    Re: Labor Unions Join Wall Street Occupiers for "Mass Rally'

    Quote Originally Posted by justabubba View Post
    using your number, we can then conclude that 75% of the mortgages are NOT underwater. now let's compare that to what you originally posted:
    hopefully, my added emphasis will illustrate where you were wrong
    Every instrument that was full of inflated home values. To include individual properties. Note, 'under water" means you owe more than it is worth. Had one made a larger downpayment, or owned the home for 20 years, then they are not underwater, but still the owner has lost a large part of their assets. Now, if you want to debat minutia, you will have to do it with yourself. The point is that having 20-30% of all homes underwater will cause a real good start to a recession, which it did.


    CRA - the response to the banking industry's tactic of red lining areas in which it would not make loans - required lenders to make loans in the same communities from which they realized deposits
    now, would a reasonable person expect the loans in those formerly red lined areas to be as sound as those in more affluent areas? but simply because the community is less affluent does not automatically mean that members of that community are not sound credit risks
    CRA did then cause more loans to become available. but NOTHING required lenders to make un-creditworthy loans. at least nothing you have been able to cite thus far
    The CRA was the basis for initial pressures on these banks in the poorer communities. Cuomo and HUD based their lawsuits on discrimination, which just happened to parallel higher-risk loans, as blacks were on average poorer, and in more depressed communities. Regardless, the "solution" was government expanding FF to fix everything, especially the infux of sub-prime buyers.

    look at the date of this report: http://www.fhfa.gov/webfiles/747/FNMSPECIALEXAM.pdfit it is may 2006. AFTER it was learned that fannie mae was cooking the books. and still the shrub did nothing. because profits were still flowing. it wasn't until the meltdown that the taxpayers picked up the ongoing tab for the now massive losses
    The shrub and everyone else did not do enough. Surely you have seen slobbering Barney and do-nothing Dodd saying FF was fine. "What me worry" ?

    does anyone knowingly buy during a bubble, when they know to expect losses [rhetorical question]
    Yes, because they anticipate getting out in time. Some are more savvy than others. And some are downright stupid. Business 101.

    lenders were making liar loans because they were making money on them
    as soon as they made the loans AND realized their fees they flipped the mortgage paper to the voracious market, which wanted higher yields than it could realize on more conventional paper
    the lenders were not holding these loans but were instead selling the risk to an ignorant marketplace
    Which is exactly as I have been saying. Once the bubble got going, it was a feeding frenzy on easy money. FF backed close to 50% of the market in the end. How could anyone lose if government had so much of everyone's ass covered ? That was a big part of it all going to crazy: Government.

    many of us in the banking industry knew when glass-steagle was repealed that we were in for a financial rollercoaster with the taxpayer ultimately paying for the ride. this repeal assured that profits would be privatized while any losses would be socialized
    Agreed, but it took a perfect storm regardless. The huge growth of FF, combined with larger numbers of sub-primes, and the repeal.


    interest rates are determined by degree of risk ... banking 101
    lenders not complying with CRA were hammered. usually by acorn when said lender was involved in a prospective merger. its non-compliance was a hurdle which had to be surmounted if it wanted to participate in the merger/acquisition
    so, the lenders made loans they would not keep but would lay off to unwitting investors. they did this rather than looking for good credits within the formerly red lined communities. and since the lender was not intending to to hold onto the mortgage paper it was writing, it realized enhanced loan yields/fees and CRA compliance
    And one component of that risk was exactly as you have stated. Government was going to take that risk off your hands. And the Fed kept interest rates low.


    problem is, you don't know what the duck you are talking about

    not hiding whatsoever
    that was the assertion, that lenders were being required by the government to make un-creditworthy loans
    i even promised to make a public apology if you could offer any cite to show the government actually required lenders to make un-creditworthy loans. and thus far, neither of you have been able to proffer such a cite
    nope
    all they had to do was comply with the CRA, and make loans to creditworthy applicants from formerly red lined communities
    nothing compelled them to write non-creditworthy loans
    i wasted my time watching that heavily edited faux news propaganda piece against Obama. it told us nothing ... at least those of us who understand lending
    Then track down the original speech. I have watched the entire thing before. You wil see the same presentation by Cuomo, and the same answers to the questions. As I have said folks, if you want to know, go the the video, and if in a hurry, jump to the 2:15 mark. Or just watch the entire first 4 minutes or so. All Cuomo, in his own words. It should make you sick.
    Last edited by Eighty Deuce; 10-06-11 at 04:16 PM.

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    Re: Labor Unions Join Wall Street Occupiers for "Mass Rally'

    Quote Originally Posted by apdst View Post
    "Liberals", "Socialist Clowns"...same difference.



    You're right, the people are fed up. Where were you during the mid-term elections? Did you see how that turned out?
    And what did their heroes do since? Social legislation and obstruction.

    Last time I checked, buyers remorse has set in pretty strongly among those ever-critical independents.
    Anyone wondering what I'm talking about start here:
    The Psychology of Persuasion

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    Re: Labor Unions Join Wall Street Occupiers for "Mass Rally'

    Sure, some of them did. But not even a large minority went in for the whole costume thing.

    When the rallies started the target was government. From the very beginning, the TPers wanted government to change. So they held protests at government buildings, rallied in D.C., went after their senators and representatives. This group is sitting in a square in NYC screaming about how unjust life is because of Wall St. If they wanted to bring about change they'd go after the root of the problem.
    The Tea Party did not rally in DC until what...like a year after they started? You keep comparing Tea Party 1year plus to a movement thats been around a week. The Tea Party started as rallies...just like this one.

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    Re: Labor Unions Join Wall Street Occupiers for "Mass Rally'

    Quote Originally Posted by What if...? View Post
    And what did their heroes do since? Social legislation and obstruction.
    Obstructing the Liberal machine is exactly what the people wanted them to do.

    Last time I checked, buyers remorse has set in pretty strongly among those ever-critical independents.
    That's probably true and the disappointment is that there aren't enough Conservatives in the government. Still too many RINOS and Libbos.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Labor Unions Join Wall Street Occupiers for "Mass Rally'

    I've seen no significant evidence that corruption had ANYTHING to do with the economic collapse.
    Really? Constant Wall Street deregulations due to pressure from the Financial Industry? Fannie and Freddie basically buying Congress on both sides of the aisle? Heavy lobbying to neuter the Dodd financial regulation bill? The fact from the Federal Reserve to the Treasury department is a revolving door with Wall Street?

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    Re: Labor Unions Join Wall Street Occupiers for "Mass Rally'

    Quote Originally Posted by Grant View Post
    That's the way this is headed. They are angry but cannot offer any realistic solutions. They are not the best America has to offer.
    Because they have no real ideas they'll be yesterdays new quite quickly.
    Maybe. But don't underestimate the power of ignorance and laziness empowered by democracy!

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    Re: Labor Unions Join Wall Street Occupiers for "Mass Rally'

    Quote Originally Posted by iliveonramen View Post
    Really? Constant Wall Street deregulations due to pressure from the Financial Industry? Fannie and Freddie basically buying Congress on both sides of the aisle? Heavy lobbying to neuter the Dodd financial regulation bill? The fact from the Federal Reserve to the Treasury department is a revolving door with Wall Street?
    Who was calling the shots at Fannie and Freddie?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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