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BoomBustBlog Visits Financial Ground Zero To Check Out The Occupy Wall Street Movement
This is the BoomBustBlog view of the "Occupy Wall Street" protests, the view that you just won't get through the MSM...
Here's some more evidence of the risks of journalism when cops are out to defend those who pillage their pensions...
It appears as if I may have went over the head of a few skeptical readers with the "rape the police pension" bit, so here's an indepth tutorial of how it works for those so inclined to learn...
The
Conundrum of Commercial Real Estate Stocks: In a CRE "Near Depression",
Why Are REIT Shares Still So High and Which Ones to Short?
Key excerpts...
re_fund_returns.pngre_fund_returns.png
re_fund_returns_tables.png
Let’s take a look at another big bonus development exercise, marketing push they made into residential MBS a few years ago…
Apathy
and the need to masochistally follow name brand investors is what
enables this malarchy, and is what has allowed CRE prices to be
artificially elevated this high for this long. Believe you me, reality
will reassert itself and will do so in quite the destructive fashion.
Again, For Those Who Chose Not To Heed My Warning About Buying Products From Name Brand Wall Street Banks, and “Blog vs. Broker, whom do you trust!”
Believe
it or not, very few institutional investors are interested in seeing
the mechanics of how they have been bilked to fund Wall Street bonuses. I
have been very generous with the CRE analysis on BoomBustBlog, but
there have been relatively few takers for custom analysis. For those institutional investors who actually care about making money, or at least not losing 91% of it, I suggest you go through the public version of the model designed to create the analysis above. You can download it here: 
Real estate fund illustration & Interactive model 2009-12-23 12:54:21 174.50 Kb. For those with even more interest, you should download our 2010 CRE outlook: 
CRE 2010 Overview 2009-12-16 07:52:36 2.85 Mb and our CRE consulting capabilities statement: CRE Consulting Capabilities 2009-12-17 14:17:01 655.48 Kb. I
must say, any client of mine would have been very hard pressed to lose
91% of their money in a Goldman or Morgan Stanley fund.
»
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Yep! me and 400,000 Jews agree.. You are stupid.
http://www.youtube.com/watch?v=dnB3p9iN_Jc
go back to Alex Jones?
There should be limtiations on freedom of speech?
huh? what?
Maybe this isnt the country for you..
and nothing I said to Reggie was racist.. it was a put down but not racist..
here.. have some reading material, from your Holy Book the Talmud!
"IF a goy kills a goy or a Jew he is responsible; but if a Jew kills a goy he is NOT responsible."
-Tosefta. 9boda Za,-a 8, 5
"It is permitted to kill a Jewish denunciator everywhere. It is permitted to kill him even before he denounces."
-Schuichan Qruch, Choszen Hajpiszpat jog
"Thou shalt not do injury to thy neighbor (Bible), but it is not said, 'Thou shalt not do injury to a Goy.' "
-Mishna Sanhedryn 57
"When you go to war do not go as the First, but as the last, so that you may return as the first. Five things has Kanaan recommended to his sons: 'Love each other, love the robbery, hate your masters and never tell the truth.' "
-Pesachis F. 113B
"A Jew is permitted to rape, cheat and perjure himself; but he must take care that he is not found out, so that Israel may not suffer."
-Schulchan Aruch, Jore Dia
"A Jew may rob a goy - that is,.he may cheat him in a bill, if unlikely to be perceived by him."
-Schalchan Arach, Choszen Hamiszpat 348
"If a goy wants a Jew to stand witness against a Jew in a Court of Law, and if the Jew could give fair evidence, he is forbidden to do it; but if a Jew wants a Jew to be a witness in a similar case against a goy, he may do it."
-Schalchan .9ruch, Choszen Hasiszpat 28, Art. 3 and 4
"Those who do not confess the Torah and the Prophets must be killed. Who has the power to kill them, let them kill them openly with the sword. if not, let them use artifices, till they are done away with."
-Schulchan Qruch. Choszon Haviszpat 425.5
"All property of other nations belongs to the Jewish nation, which, consequently, is entitled to seize upon it without any scruples. An orthodox Jew is not bound to observe principles of morality towards people of other tribes. He may act contrary to morality, if profitable to himself or to Jews in general' "
- Schalchan arach. Choszen Hasisxpat 348
"Should a Jew inform the goyish authorities that another Jew has much money, and the other will suffer a loss through it, he must give him emuneration."
-Schalchan Oruch, Choszen Maipiszpat 388
"How to interpret the word 'robbery.' A goy is forbidden to steal, rob, or take women slaves, etc., from a goy or from a Jew. But a Jew is NOT forbidden to do all this to a goy."
-Tosefta, Qbda Zara VIRZ, 5
"On the house of the goy one looks as on the fold of cattle."
- Tosefta, Erabin VZZ, 1
"All vows, oaths, promises, engagements, and swearing, which, beginning this very day or reconciliation till the next day of reconciliation, we intend to vow, promise, wear, and bind ourselves to fulfill, we repent of beforehand; let them be illegalized, acquitted, annihilated, abolished, valueless, unimportant. Our vows shall be no vows, and our oaths no oaths at all."
-Schulchan 9ruch,
We can start with these quotes for some of the 6 books of Talmud.
It is YOUR BOOK!! so whats up?
Why is it my fault that YOU! worship this??
http://www.youtube.com/watch?v=ogPXTUNjjTo&list=PL2C69EC1672EA4320&index=1
The History of The Talmud (1 of 7)
its going to take the fire in the minds of men to change things. not the fire that the jew wants and has always gotten the last oh , how about 2000 years or so, but the fire in the minds of men that proffers racial identity and tribal understandings, as it was in the old days before the roman empire for example.......this is what must happen for liberty to flourish. most do not understand this. the jew understands fully for he moves within these racial and tribal areas with ease for this is how he has been for most of his existence. that is why jews are always considered to be a state within a state. this is how they operate. now they have achieved here what they have wanted for a very long time. total control. they have it now and do not want to let go of it..........but go tell that to the children that want to "occupy wall street" .............these children of my children of my children , are now totally confused about who they are and what they want. is it any wonder?
All of these quotes have appeared on numerous anti-semetic sites on the internet and have been shown repeatedly to be bogus. Obviously the work of rabid racists......like JDuhbya. Pretty sad. I am not Jewish and, in fact, do not believe in supreme beings of any flavor. If you insist on hating another human, why base it on this type of nonsene? Just have a conversation with them and they will likely give you much better reasons to hate them than their religious preference.
bro, he is quoting the talmud........do you know anything about the talmud? please it really isn't about religion per se.........you say you do not believe in a supreme being yet the jew does. do you know anything about the kabbalah? go read some books by gershom scholem or isadore twersky. study the code of maimonides and see what it says about you, oh sheep........did you know that back during the middle ages, some enterprising goyim started learning hebrew and studying the talmud and they started reading things like he mentioned and the jews started getting upset because their fools started learning what they really thought about them , so they started changing the talmud to take out these obnoxious verses and so they had two talmuds, one for the public and one for the rebbes............its all true...............
Yes, yes, more tripe from internet hate sites. Try doing some REAL research. I know, that means you have to leave the basement and come out into the sunlight....try to deal with it.
http://www.youtube.com/watch?v=I41OJ8OsqsQ&feature=
Uploaded by ThinkProgressVideo on Oct 5, 2011
The 99 Percent Movement's protests in Manhattan have entered their third week. As the movement continues to build momentum, sympathetic coverage has begun to come in from journalists, politicians, and even Federal Reserve Chairman Ben Bernanke. It's been a while in getting to this point, however. Initial coverage of the protests often featured good-natured disdain at best, and outright mockery and contempt at worst.
While the core of the problem has been, unsurprisingly, Fox News Channel and Fox Business Network, other major outlets such as CNBC and CNN often took the same approach as well. Just this Monday, CNN anchor Erin Burnett presented a noticeably obtuse and disrespectful piece on the protesters. And the reliably colorful Rush Limbaugh called the movement "tools" of the establishment and a "parade of human debris." This attitude has extended throughout the mainstream corporate media. ThinkProgress has produced the evidence.
On a related note, a Rasmussen poll was just released taking stock of Americans' general attitude towards the Occupy Wall Street protests: 33 percent have a favorable opinion, 27 percent hold an unfavorable opinion, and 40 percent have no opinion.
http://thinkprogress.org/special/2011/10/05/336880/video-corporate-media-prot...
Unfortunately - these protestors appear to be there to distract us of the multiple impeachable offenses by Obama and his gang plus 20% unemployment. Street theater to distract after the Dems lost the NYC Congressional seat. Not that the Repubs are much better but compraed to what we have now - they are heaven. The elites will make sure to keep Ron Paul down.
You have either a short memory or a pretty strange idea of heaven. From where I sit, what we have now looks mostly like a continuation of what we had before.
Hmmm.. Bush - torture , illegal war, politial prosecutions by the Department of Justice, missing billions in Iraq, War profiteering, no bid contacts to cronis=es, shoddy work by contractors, not to mention complete failure to enforce regulations overseeing Wall Street and Banking - wioth TRILLIONS given away to rescue them when they blew up the world's financial system (TARP and all qwas passed under deer-in-headlights BUSH)
The police and the military need to decide if they are going to be the jackboots of the Oligarchs.
They already made that decision when they signed on.
i agree - those morans are and always have been the jackboots of the rich
If not the police, then the military morons. If not the military, then there are always some scabs, thugs, mafia, Blackwater mercenaries.
Hiring one native Indian tribe to kill the other tribe, except now it is the American middle class.
Reggie, I'm sorry I missed seeing you down there! It's great to forge the link ups between the leftist kids and the free market truth tellers.
Keep up the 'critique from within' and keep an eye out for those without the means to make put option spreads but who are still fighting the same targets.
Reggie- Thank you for covering OWS and actually going down to Liberty Plaza.There are a lot of us in the financial industry that support OWS (though most are afraid to participate). I've been at some of the marches and can report that this is a very diverse crowd in all ways - politics, race, religion, age, etc. This is indeed what democracy looks like. I doubt too many on ZH would disagree with one of the more common chants: Banks got bailed out, we got sold out.
Reggie and folk,
I woke up at 4:00 this morning with a 'set of demands' in my head needing to be written down. I am test-driving it here and Naked Capitalism and a few other places (I will cross-post to GW and ZH a couple of times). What do folks think? This isn't the 'fix the world' demand list (no troops home now, tax reform, border defense, prayer in school etc.), nor even the 'everything financial' list (excludes high frequency trading/dark pools/derivatives etc.). The intent is to break the back of corruption and hedge against catastrophic risk.
For anyone who wonders, I've been posting around here a couple of years now. Just another citizen. But thinking hard.
Here goes:
4:00 AM October 6, 2011
Kitchen Table, USA
LIST OF DEMANDS TO PROTECT THE PEOPLE OF THE UNITED STATES OF AMERICA FROM FINANCIAL CATASTROPHE
I. CURB CORRUPTION AND EXCESSIVE POWER IN THE FINANCIAL ARMS OF THE US GOVERNMENT
A. FEDERAL RESERVE
1. Benjaman Bernanke to be removed as Chairman immediately
2. New York Federal Reserve Bank and all New York City offices of the Federal Reserve system wil be closed for at least 3 years
3. Salaries will be reduced and capped at $150,000/year, adjusted for official inflation
4. Staffing count to be reduced to 1980 levels
5. Interest rate manipulation to be prohibited for at least five years
6. Balance sheet manipulation to be prohibited for at least five years
7. Financial asset purchases prohibited for at least five years
B. TREASURY DEPARTMENT
1. Timothy Geithner to be removed as Secretary immediately
2. All New York City offices of the Department will be closed for at least 3 years
3. Salaries will be reduced and capped at $150,000/year, adjusted for official inflation
4. Staffing count to be reduced to 1980 levels
5. Market manipulation/intervention to be prohibited for at least five years
7. Financial asset purchases prohibited for at least five years
II. END THE CORRUPTING INFLUENCE OF GIANT BANKS AND PROTECT AMERICANS FROM FURTHER EXPOSURE TO THEIR COLLAPSE
A. END CORRUPT INFLUENCE
1. Lifetime ban on government employment for TARP recipient employees and corporate officers, specifically including Goldman Sachs and JP Morgan Chase
2. Ten year ban on government work for consulting firms, law firms, and individual consultants and lawyers who have accepted cash from these entities
3. All contacts by any method with federal agencies and employees prohibited for at least five years, with civil and criminal penalties for violation
B. PROTECT THE AMERICAN PEOPLE FROM FURTHER HARM AT THE HANDS OF GIANT BANKS
1. No financial institution with assets of more then $10 billion will receive federal assistance or any 'arm's-length' bailouts
2. TARP recipients are prohibited from purchasing other TARP recipient corporate units, or merging with other TARP recipients
3. No foreign interest shall be allowed to acquire any portion of TARP recipients in the US or abroad
III. PREVENT CORPORATE ACCOUNTING AND PENSION FUND ABUSES RELATED TO THE GLOBAL FINANCIAL CRISIS
A. CORPORATE ACCOUNTING
1. Immediately implement mark-to-market accounting rules which were improperly suspended, allowing six months for implementation.
2. Companies must reserve against impaired assets under mark-to-market rules
3. Any health or life insurance company with more than $100 million in assets must report on their holdings and risk factors, specifically including exposure to real estate, mortgage-backed securities, derivatives, and other exotic financial instruments. These reports will be to state insurance commissions and the federal government, and will also be made available to the public on the Internet.
B. PENSION FUNDS
1. All private and public pension funds must disclose their funding status and establish a plan to fully fund accounts under the assumption that net real returns across all asset classes remain at zero for at least ten years
Demands... Naive at best.
Those evil pigs must be physicaly removed from the exercise of their powers.
Trying to collect signatures, waving signs, chorus chanting or tree-huging stuff will not work. They will keep laughing.
i think you are missing the MOST IMPORTANT demand of all........STOP THE FRAUDCLOSURES !!!!!!!!!......
A good start but I vehemently disagree with this one:
3. Salaries will be reduced and capped at $150,000/year, adjusted for official inflation
The salaries must not be adjusted for inflation. The Federal Reserve's mandate is low inflation, so nothing should motivate them more than to preserve the purchasing power of their own salary. I think the Reserve Bank of New Zealand may have a similar policy, or someone was lobbying for it anyway.
Nice KRSOne soundtrack.
Reggie, just wanted to let you know I enjoyed your Apple/Google analysis and of course debating them.
And having Steve Jobs pass away at this time is sad.
Anyway, keep up all the great work, I for one appreciate it and might even by a subscription!
"She appeared to be in the minority unfortunately."
It doesn't matter anyway. Medias like BIG figures so "20000 protesters" [= 19500 morons and 500 "brains"] will have more weight than "a meagre 500 ppl in the streets today, Walter".
And the heavier you weight the scarier you are... Read Elias Canetti!
This is beginning to look a lot like Egypt.
It's beginning to look a lot like Egypt
Ev'rywhere you go;
Take a look at financial hubs, cops generous with their drubs
With black batons and armor head to toe.
It's beginning to look a lot like Egypt
Students, with no-thing to do
But the scariest sight to see, is the mayhem that will be
At your own front door.
A bankster's head on a pike and a lane for their bike
Is the wish of Barney and Ken;
A debt jubilee and some college for free
Is the hope of Janice and Jen;
And Barry and Ben can hardly wait for the recovery to start again.
It's beginning to look a lot like Egypt
Ev'rywhere you go;
The unions guys like to yell, and the crowd is starting to smell,
We'll see if they're out there once it starts to snow.
It's beginning to look a lot like Egypt;
Soon the riots will start,
And all of this class war-fare, will es-calate next year
And tear our country a-part.
The park they are camped out his private property. It is owned by Brookfield Property Trust (REIT). Guess who is a major shareholder - George Soros. Yeah - grassroots group.
Cross-posted from GW's thread:
I biked over to the Seattle protest at lunch time this past Tuesday. Interesting juxtaposition between that group and Gail Simmons who was leading a Target event announcing that they would be carrying fresh local produce. Target was giving away free food among anti-corporate chants.
The occupy Seattle crowd was for the most part unruly and disorganized and reminded me of the counterprotesting crowd (I shaved my balls for this?!) that opposed the tea party event I attended in 2009 at the same location. As I ate my sandwich and scanned the crowd I tried to pick out the people who had their brains engaged. I ended up talking to a nice gal named Michelle who I asked what do you want to see done. The first thing she said was "End the Fed" so we chatted for a while. She mentioned being in charge of doing research. I handed her a print out of a recent broad ZH article (most recent one from Quinn, with lots of good charts, talking points, etc.) She had not heard of ZH, but hopefully she'll surf on over and learn more.
She appeared to be in the minority unfortunately.
D
if you all will remember, reggie told us last year that these protest were coming. be sure and buy a subscription to the boom and bust blog so you can get in on all of the lastest relevant and timely info......:)
traditionally the police are separate from the military because the police will eventually turn on their pay masters.
the military is brought in to quell revolution NOT because of their fire power but because of their loyalty to the power that be.
look at every successful and unsuccesful arab spring revolt . the military ALWAYS attempts to keep their power. either they suppress the revolt, or they give up the powers that be on their own terms and keep their status post revolt ( egypt ) .
it is NO surprise that the CIA has admitted to infiltrating the NYPD. this is against hte legal spirit of separation of the military and domestic police. so we can be aware that the military is trying to assert itself through the NYPD, which is perhaps the biggest concern regarding any attempt to gather support from the NYPD against the people who are stealing their pensions and asking for protection at the same time.
my prediction is that we are going to have more of the same , only more of it, for a long time. a country can stay corrupted and in a state of deterioration resisting political change far longer than progressive honest people can persist in their attempts to reform their country.
after roman empire decline you had the beginning of dark ages which unfolded slowly , over a LONG time.
Even military won't stay loyal forever. It's worth noting that the fall of the Berlin Wall happened in great part because the East German military wasn't paid, because the Russians had withdrawn its financial support. Troops are used to not receiving paychecks while they're in the field of combat, but that's different from not getting paid at all. My expectation is that as resources become more constrained, you'll see consolidation of military bases at home and the drawdown of military bases abroad. Eventually, there's the very real possibility that bases will just be abandoned, and those soldiers stationed there will be left to their own devices to make it home. Meanwhile the consolidation of power at home raises the likelihood that, in the event of an uprising, the commander of one of these bases may very well choose to side with the rebellion, especially if it means attacking another part of the country where they've lived in previously.
Will the Pentagon seize power in the event of an emergency? If the civilan chain of command had been destroyed, yes, though my belief is that if that happened the Pentagon would likely be part of the casualties (think 9/11). Otherwise, I think it unlikely, though they may very well go along with plans to change leadership covertly.
Back to the police - during the Seattle protests in 99 (I was there), they trucked in a lot of police from outside the Seattle metro area, and in the end, it was as often as not these particular troopers who were responsible for most of the incidents with protesters, though there were a few bad eggs among the Seattle PD as well. It's a lot easier to truncheon people when you don't regularly see them at the local coffeeshop. If (and I suspect it will) the protests spread, there will come a point where fatigue sets in, and the cops see no value in busting heads (and may very well join the protesters).
I think the only army who backed the people and never turned on them was The Poles. When eastern Europe was disintegrating - General Jarazelski knew the army would always back the people and would never shoot at them. The Army in the USA has been used on protestors many times. They shot veterans after WW1.
cops joining the protesters - lol
never going to happen, the thinking people and the cops are on ideologically and intellectually opposing sides
cops like to oppress people, they want people to respect their authority.
military are even worst than cops
don't count on them to bite the hand that feeds them - they will protect their masters with their lives.
You'd be surprised. My brother's military, a staff sergeant with a battallion in Chicago. He knows a lot of cops as well. A lot of those same cops are nervous about state budget cuts and union busting activities, have watched their own 401ks turn into black holes and have to deal every day with the consequences of an economy this hard. Most of the soldiers are pissed that their pensions are being cut back, especially if they're enlisted, and many, after two or three tours of the Middle East, have about as little respect for authority as anyone out there. They go through the motions because it's a paycheck and the have a mortgage to pay off, but there's not a whole lot of loyalty in the field right now.
Most cops hate shield duty, especially when its on their own home turf. You occasionally get the occasional sadistic bastard who just likes hurting people with any justification, but you'd be surprised how slowly they advance in rank. Busting out of town heads is somewhat different, and when the political justification is antithetical to the cop's own then it's easier still, but these protests are bread and butter issues for many of them. Notice how quickly the police in Wisconson looked the other way, especially when Scott brought in scab labor.
One final thought. For the most part, police and soldiers have a lot of time to do nothing BUT think. I'd be careful making the assumption that they are brainless dogs waiting for the word of their masters.
Wisconsin? WTF are you talking about? Th state police let the leftist union goons practically destroy the state capitol. They supported the Democrats who hid in IL. Taxpayers are fed up with the golden union pensions for state, fed and all other govt workers. F union scum.
You're forgetting who was responsible for blowing up the pension money in Wisconsin. The fund was well capitalized before the stock market crash. Wisconsin continues to spend (even with supposed hero Scotty Walker in power) almost $500 million a year on external management fees. Do your mental homework, do your research, think this shit out to it's logical conclusion.
The people in charge of deciding where pension money goes were clearly not sophisticated investors who understood shit like mortgage backed securities, or that long-only mutual funds were a recipe for disaster. The people who marketed this garbage are the people who are responsible for these gargantuan pension shortfalls, along with the gargantuan holes in 401K plans. Acting like Dumbo Jimbo the Donut Cop is this evil mastermind trying to separate you from your hard earned money is pretty fucking laughable. I get it, he's an idiot, but he's not the one raping your ass.
I think you got it backwards. It's the military who will turn. Think about the type of person that wants to become a cop. The Miltary is made up of mostly kids that couldn't get a job and fell for the lure of (fake) perks offered if they would join. Even the National Guard has seen action and they know what blood looks like and most know what a waste of lives and resources Iraq and Afganistan is(was). http://news.yahoo.com/poll-1-3-vets-sees-iraq-afghan-wars-040253311.html When the time comes, the Military will abandon their posts to protect their families from the chaos.
It will be the police who are itching to use their newly acquired military type weaponery from the US bailout funds who will step up and not hesitate to pound, shoot, drive (their new assault vehicles) and use their PainBeams to crush any rebellion. It is the police who are the right arm of the pay masters.
http://www.wearechange.org/?p=9566 ,
http://latimesblogs.latimes.com/lanow/2011/07/oceanside-to-buy-armored-assault-vehicle-in-case-of-terrorist-attack.html ,
http://www.washingtontimes.com/news/2009/oct/01/police-buy-sonic-device-to-subdue-unruly-crowds/print/ ,
http://stopthedrugwar.org/chronicle/2008/jun/20/law_enforcement_swat_run_amok
Sorry dude, the CIA is NOT part of the military, but is a civilian organization. That's why the latest CIA director retired from the military just before he took his post at the CIA. That's why the CIA killing of Anwar al-Awlaki (http://en.wikipedia.org/wiki/Anwar_al-Awlaki) is a war crime, the Geneva conventions forbid civilians from engaging in war operations as it puts all civilians at risk of being soldiers and therefor open to being killed. That's the theory anyways.
Nice music.
Nice job Reggie!!!
+++++++++++++
When you see a scene like that, the correct response is to walk in the opposite direction.
NYPD fighting for the right to be ass raped by the banks.
Police in failing regeims are often just dumb animals used in mindless violence to provoke violence to create a publicaly accepted reason to escalate police violence and create restrictive laws.
The warning signs are there that with so many unemployed that this could reach a critical mass creating a feed back loop building a truly massive protest nation wide. The police presence in such numbers is pointless and the acts of violence by them actually very harmful to their cause.
The best cause of action would be to simply leave the protesters alone. They only need to create one protester marter for this to really explode. Didn't we just see and Arab Spring begin that way?
dont lump all the police into one general category of grunts that beat protesters without cause
many of the NYPD have been screwed since 9/11 with deteriorating health and an "investigation" that was really a cover up, now they are screwed in their pensions by the TBTF.
But at the end of the day, 95% of the NYPD still have to put food on the table. They sympathize with the protesters, but are following orders because they dont want to lose their jobs
they are stuck between a rock and a hard place. while the 5% corrupt NYPD making everyone else look bad
No sympathy. Just following orders doesn't hold up in court. When the revolution comes they will be up against the wall right next to the bankers and politicians they serve and bad cess to them.
Who is "ordering" these cops to use violent force on unarmed, peaceful protesters? Or is it personal initiative? It certainly looked like the latter in the case of Anthnoy Bologna.
Have you hugged your banker today?
Take it to the Streets.
Really Reggie,
Wall Street took money from the Police Pension fund? You have to do better.
"Do better"
That's the bankster credo isn't it? Identify pool of capital, attack with coordinated precision and set up the bucket brigade, while the beast is bleeding out.
Worked great with unions. They are vulnerable for a number of reasons echoed with regularity by clones on this site.
How can they do better? Privatizing Social Security (the big ponzi) and Medicare (full of lazy free-loaders).
The sick and old are gloriously ripe to be exploited (i.e. liberated). There's no candidate in the GOP field that would stop it.
I just want to be free!... to get me some of that gravy LOL!
the best thing about defined benefit retirement schemes is that they work until they don't. Then, they blow up in what appears to be a microsecond.
but hey, just ignore everything that happens in the run up to this inevitable event.
"Wall Street took money from the Police Pension fund?"
Absoluetly, and from many other pension funds, too, by knowingly selling them toxic waste as AAA rated CDOs.