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Thread: Occupy Wall Street Enters Its Fourth Day, Tensions Rise

  1. #311
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    Re: Occupy Wall Street Enters Its Fourth Day, Tensions Rise

    Quote Originally Posted by Eighty Deuce View Post
    What ? You didn't "prove" ****. You seem to think it matters whether A ate B, or B ate A. Argung for or against TARP is an entirely different debate than blaming Wall Street for the Recession etc.
    What, in your opinion, caused the recession, Eighty Deuce?

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    Re: Occupy Wall Street Enters Its Fourth Day, Tensions Rise

    Quote Originally Posted by whysoserious View Post
    Can they sue? I have no idea. I am not a lawyer and I never claimed to be. Who would they sue? Goldman Sachs or the rating agencies? Again, I am only showing you that Wall Street is responsible for plenty of job loss through unethical practices. You should be angry since you are extremely angry at liberals in the government, but for some reason you are not.
    Which is where we differ. You can claim "he cheated" all teh time, but the net result is still a gain for every loss. Or those that are weak or inefficient being replaced by those stronger and/or more efficient. To blame teh ratings agencies is to ignore the obligation of the investor.buyer, that being top execs at Wachovia, from doing their own due diligence. Other banks did. [/quote]

    The huge difference is that such as Wachovia and Merrill Lynch ignored the naysayers too much, or were just so greedy that they thought they could get in and out in time. Either way, they had eyes wide open. They chose to wear the blinders.

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    Re: Occupy Wall Street Enters Its Fourth Day, Tensions Rise

    Quote Originally Posted by whysoserious View Post
    What, in your opinion, caused the recession, Eighty Deuce?
    Real quick and simple:

    1) The Housing Bubble, which when popped, left 25% of all Americans upside down bigtime in their mortgages. Not only did those people cut back on their own buying, some of which had been elevated due to second mortgages taken out during the boom years, but many now saw default as their only way out.

    2) Lack of confidence at every level. We no longer had an underlyuing manufacturing base to fall back on. It has been slipping away while we made money trading stocks in unprofitable internet companies, and then selling property back and forth to each other. Big reality slam that came with the bubble burst.

    3) Debt. We created a pending nanny state collapse. This further undermines confidence.

    A real tri-fecta we created.
    Last edited by Eighty Deuce; 10-05-11 at 04:24 PM.

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    Re: Occupy Wall Street Enters Its Fourth Day, Tensions Rise

    Quote Originally Posted by Eighty Deuce View Post
    Real quick and simple:

    1) The Housing Bubble, which when popped, left 25% of all Americans upside down bigtime in their mortgages. Not only did those people cut back on their own buying, some of which had been elevated due to second mortgages taken out during the boom years, but many now saw default as their only way out.

    2) Lack of confidence at every level. We no longer had an underlyuing manufacturing base to fall back on. It has been slipping away while we made money trading stocks in unprofitable internet companies, and then selling property back and forth to each other. Big reality slam that came with teh bubble burst.

    3) Debt. We created a pending nanny state collapse. This further undermines confidence.

    A real tri-fecta we created.
    So, in your opinion, the banks failing had nothing to do with it?

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    Re: Occupy Wall Street Enters Its Fourth Day, Tensions Rise

    Quote Originally Posted by sangha View Post
    Now you're just making up stuff to hide your pwnage.

    You said banks which made the biggest mistakes failed first. GS made the biggest mistakes, and they didn't fail.

    Time to fess up
    Maybe slow down your assault on post-count records. And put "pwnage" whre the sun don't shine, if there is room left with your head in the way.

    If your argument is why did GS get government money, and Wachovia not, then have at it in a debate about such. Better political connections can count. But as I pointed out, in the end, it does not matter. At the end of the day, GS was still standing, and Wachovia needed to merge. That's business. If that makes GS a winner, and Wachovia a loser, so be it.

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    Re: Occupy Wall Street Enters Its Fourth Day, Tensions Rise

    Quote Originally Posted by whysoserious View Post
    So, in your opinion, the banks failing had nothing to do with it?
    The banks failed because of the housing bubble burst. That would be "1)a)". You need to stop and think a little bit better. I am not going to write a book for you.

    Again, I repeat, for every bank that lost money, another bank, or financial institution, made money.

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    Re: Occupy Wall Street Enters Its Fourth Day, Tensions Rise

    Quote Originally Posted by whysoserious View Post
    He said he was angry at the state of the economy and it was the governments fault. I showed him how Wall Street directly cost thousands of jobs and made bundles of cash off of it and he did not even bat an eye. It is trolling at its finest.
    What? I was under the assumption that it was and is the responsibility of the federal government to regulate Wall Street (the financial industry), to ensure economic stability, good practice, etc.

    You're stuck because you both have to admit it was the federal governments responsibility, but worse, had you given that responsibility to Wall Street instead, you WOULD be justified in blaming them. But you didn't, you took it away and gave it to the fed, you can't have it both ways.

    If you claim hendge funds and big banks engaing in legal activities are RESPONSIBLE for the economic downturn, you are pulling my leg. You can't be serious...
    You are responsible. You should have ensured your government was handling the charges it was given. Who watches the watchers?

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    Re: Occupy Wall Street Enters Its Fourth Day, Tensions Rise

    Quote Originally Posted by Eighty Deuce View Post
    The banks failed because of the housing bubble burst. That would be "1)a)". You need to stop and think a little bit better. I am not going to write a book for you.

    Again, I repeat, for every bank that lost money, another bank, or financial institution, made money.
    So ethics play no role in your view of the business world? Also, do not talk in a condescending tone to me. I have provided sources, I have tried my best to teach you as much as I can about unethical derivatives trading. You have not done ****. I am only trying to ask questions so I can figure out exactly what your viewpoint is since you have done an absolutely terrible job in describing it and backing it up with reason.

    That's your problem, not mine.

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    Re: Occupy Wall Street Enters Its Fourth Day, Tensions Rise

    Quote Originally Posted by Mach View Post
    What? I was under the assumption that it was and is the responsibility of the federal government to regulate Wall Street (the financial industry), to ensure economic stability, good practice, etc.

    You're stuck because you both have to admit it was the federal governments responsibility, but worse, had you given that responsibility to Wall Street instead, you WOULD be justified in blaming them. But you didn't, you took it away and gave it to the fed, you can't have it both ways.

    If you claim hendge funds and big banks engaing in legal activities are RESPONSIBLE for the economic downturn, you are pulling my leg. You can't be serious...
    You are responsible. You should have ensured your government was handling the charges it was given. Who watches the watchers?
    No, you are right. The SEC is nothing but a joke. It is a revolving door for CEOs of the very companies it is supposed to be watching. I am in complete agreement there.

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    Re: Occupy Wall Street Enters Its Fourth Day, Tensions Rise

    Quote Originally Posted by whysoserious View Post
    So, in your opinion, the banks failing had nothing to do with it?
    So in your opinon, each individual bank, is responsible for a global economic bubble?

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