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I stand with the protesters.
Lee Adler explains WHY he is standing with the OWS protesters. I concur with his reasoning, and am glad to see that people in our country can get together to make a public and long overdue statement about the corruption that occupies the top. ~ Ilene
Courtesy of Lee Adler of the Wall Street Examiner
I stand with the protesters.
My mother and millions of other senior citizens are among the victims of the game that policy makers and those who empower them are playing. Their life savings are gone because Bernankecide, the financial genocide of the elderly, forced them to spend their principal. Now the government is indirectly confiscating 8% of my income because I must support my mother. That percentage is likely to grow as her health deteriorates.
Millions of other boomers are in the same boat. They are forced to pay this immoral hidden tax because Ben Bernanke decided that the innocent must pay for the sins of the guilty. While Bernanke’s ZIRP goes on allowing the banksters to continue to collect their fat bonuses, it steals the savings of millions of Americans, eliminates their disposable income, and cuts the spending power of millions of others who must now support those rendered destitute. The guilty benefit, and the innocent are punished.
Bernanke knows that, yet he continues to side with the criminal bankers in support of the financial genocide of the super elderly, and their children, the baby boomers who must increasingly support them.
Among the OWS protesters are those calling for forgiveness of student loans. They may be acting in their own self interest, but it is a just cause, and must be a part of the cleansing of the system. The student loan thing is a long running racket that preys on the inexperience of children and young people just starting out in life. When I was 20 years old I trusted the system (wrongly). What did you know at age 18 or 20?
The fact is that the people’s “savings” that funded those loans, including the fake savings backed by phony assets that have yet to be written down, are already gone. These loans cannot be repaid. Bond holders must get wiped out. Then we’re all going to have to take a haircut. The student loans can’t be repaid because these kids either can’t get jobs at all or can’t get jobs with pay high enough to pay the loans. These loans never had any backing. They were fake from the moment they were issued. But the issuers didn’t care. They got their fees up front.
The student loans are the tip of the iceberg. Bankers have made and sold trillions of dollars worth of loans that they knew, or should have known, could not be repaid. That’s fraud. It must be prosecuted. Today, central bankers and governments are refunding those loans, knowing that a substantial portion of them cannot be repaid. Worse, they are buying them above par because of today’s fake low interest rates. Then they guarantee them by obligating us and future generations to repay them. This is criminal.
I figure that at least a third of our deposits are worthless because they have no assets behind them. Those running the scam know that. Those investing in the scam know it. But they don’t care because they get to collect their fees off the top. That is a system that institutionalizes theft. It must be changed to a performance based model. If you don’t earn a positive return, you don’t get paid. Instead, governments have taken over the scam while transferring wealth to and protecting the criminals who built the system.
If you are blaming the protesters, or are mystified by them, then you just don’t get it. Denial is part of the problem. Too many people have yet to wake up to the fact that they have already been victimized. They are playing along with the dishonest shell game of extend and pretend that the Fed and other central banks and governments are running. It’s time to get real, wake up, and face the music. The longer the game goes on, the worse the consequences for the 99%, and ultimately for the 1%, whose ranks will be decimated at some point, and probably not peacefully if this scam is allowed to continue for much longer.
As long as we continue to avoid cleansing the system of the fraud, as long as we refuse to put the fraudsters in jail, they will continue to bleed us dry. If those in charge of administering justice, like President See No Evil Obama and his worthless AG Eric Holder, refuse to do their jobs and seek to punish the guilty, our society and our culture could spiral into chaos and mob rule. Those in the top 1% who are responsible for this fraud, either directly by running it, or indirectly by supporting it financially, must ultimately be brought to justice or society will perish. There’s no way out other than reform, or revolution, or societal collapse. Those are the choices I see. We had better take the first one, and take it now.
So stop worrying about yourself, and start worrying about the future of your children and grandchildren. The government practice of constantly doubling down in support of the fraud is only digging a deeper and deeper hole. Demand reform of the system now. End the fraud now. Make the guilty pay. Instead of rewarding the bankers, prosecute them. They knew, or should have known, that the loans they were making and selling to others could never be repaid. But they did not care. They only cared that they got their fees up front, and their bonuses in the end.
It’s time to reset and start over. We will all pay a price in the short run, but the longer we wait, the steeper the price will become. Reform and reset now is the only way to begin a real recovery. Stop the fraud, return to the rule of law, prosecute the bankers, punish the guilty, figure out what our assets are really worth and pay us a fair return, and most importantly, return basic standards of fairness and ethical behavior, something that many in society must relearn. It must be done. There is no other way, no other reasonable choice. Failure to act now will consign us to a future in hell.
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Pic via Jr. Deputy Accountant
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Hmm, I didn't delete you.
GET THE MARXISTS
Yeaaa Boi! Geuss who is showing up to the party this week? III
This movement is only going to grow, if you don't stand for OWS, then you better stand for something! There is a End The Fed movement starting this week. They are drawing out a whole new crowd now, so it's gonna be on like Donkey Kong. Socialist need not apply.
So now your going to see what the demands are. Let the music begin, rock n' roll bitchez.
The Bad Guy..
Seems to me the protest should be in front of the US Department of Justice. Bring it there and I'm on board otherwise the protest is just not worth watching.
I have a feeling a flying carpet delivered to your house couldn't get you off your ass... right, left or unaffiliated.
"...not worth watching"
LOL... A little more media coverage and you won't even have to leave your couch.
OK, twenty year old college student, let's have a look at you.
You're fat. Lay off the Whoppers. That would be good for your health and your pocketbook.
Do something about the pimple on your nose. How you get laid is anyone's guess but you probably won't have any trouble with any of those OWS studs. Of course, you could buy a ten dollar vibrator and save yourself the birth control pill expense. Oh wait, you get those for "free". Also "free" is the Obamacare that will soon be giving you pap smears. So hang in there.
Also, while it's commendable that you're attending college, if you can't afford it you should delay it until you can. I like to think college is not a top three priority. Food, shelter, and healthcare are.
I don't see your job prospects with or without higher education as all that promising. Quite frankly, you're a whiner. No employer likes whiners. The government does, though, so there's hope there, but they're not hiring now. They're firing now.
Anyway, good luck.
Interesting that I made a similar (and even nicer-sounding) observation at the top of this comment post, and yet the haters threw up on my doorstep. They must have not scrolled down to read your comment. LOL!
Food, shelter and HEALTH...... fixed it for you
Yup. And if you come to an interview with hardware in your nose, I'm probably not going to hire you. Unless your hot. So she would be SOL.
Since evreyone and their brother has come to be aware, that a signifigant # of the loans and CDS's were sold more than one time in some of these pakages.. Both to Investors and GSE's Fannie/Freddie at the same time, or within days, creating cash flows 200% more than properties were overvalued at... and since very, very few have gone to jail..and since the excuse is, "everything was lost track of".. and since the Govt.(The Federal Reserve Corp.) bailed the very institutions that did these questionable actions.. and since the "discovery".. afterward, has not brought "suit".. then we turn the line of occurances backwards.
Seems to me, the ones with the most to lose is the Govt.. Should Suit come to court. Least ways that seems to be the general trend in this mess.. the SEC takes 5% "Vig" and 95% of the problem..."goes away". Seems the way things are done on the Hill.. fine 5-10% of the transaction revs.. but don't let it into Court. Then everybody's under garmits would be exposed.
The girl in the photo with her note is probably very typical of the American sheeple who have no idea what has hit them over the head. She looks over-weight and GMO'ed from eating this shit they called food. That is why she is sick all the time. The American sheeple need to stop eating GMO and get their health back first before taking on Wall Street or Main Street.
AHAHAHAAAA!!! I CAN HARDLY STAND IT! I love the stupid fat girl poster! Represents everything this (bowel) movement is about.
"I am a stupid suburban spawn of yuppie free lunch borrower parents, who got into credit card debt so they could look rich, and bought a house they couldn't afford, because they thought they could "flip it" and get rich with no work. Just like mommy and daddy I took out student loans I could never afford, and now I am screwed. But Thank God for planned parenthood, because if I couldn't fuck my fat ass off I wouldn't be able to go clubbing and get free drinks."
And never mind that a 20 year old is a fucking adult. Time to act like one. Spoiled bratty protesters. I hope Bloomberg goes off the deep end. I hope they start fire hosing these greedy lazy cattle. God knows they need a bath. The 99% Right. That explains a lot about what is wrong with this place, and why I hate the disgusting cattle sooo much. This whole thing makes me sick. Please kill yourselves!!!
She will probably vote for Obama next year.
Good God, what more can be said after THAT post? You, Sir/Ma'am, are my new ZH hero!
DSD: You are a true American...Uncensored, Unwilling, Unable to swallow a bunch of Bullshit....I normally don't do this over the web but you sir have not only 1 Karma point coming at you, but 3!!!!!!!
"...to make a public and long overdue statement about the corruption that occupies the top."
Right on, Lee and Ilene.
I support the protesters, too. This is not about capitalism, it is about rampant and unchecked corruption.
For a lot of the protestors it is about capitalism. Read their signs and blogs. Don't assume OWS is simply about the things you want to see.
Capitalism is where you profit from selling a product or service that is better or cheaper - something that the market willingly buys in preference to a competitor's offerings.
Capitalism is NOT having government make good your losses - and letting you keep past profits. In Capitalism, fraud is not a valid means to profit - it will and should be prosecuted in accordance with the law. Capitalism does not use government to give your company an advantage - or use governments to stifle your competition.
And if a few - a very few - protestors are opposed to Capitalism in general, they have valid complaints given the way its been practiced. If those protestors serve to focus attention on the failures of Capitalism, fine with me.
Good post but too complicated for the dumbed-down and still conditioned new crop...
Ask...
Why is social welfare labeled communism, and corporate welfare labeled capitalism?
Is it dollar amount that defines it? Is a $1,000 subsidy communist, but a $1,000,000 entitlement capitalist?
Ask for specifics... What is the cut off figure? And does the same hold true for theft?
Steal $1,000 and get felony theft and possible jail time. Steal $1,000,000,000 and get an island?
AND, why does the mainstream-right call OWS a Soros funded revolt full of uneducated, jobless commies trying to hurt the economy?
AND, why does the mainstream-left call the Tea Party a Koch funded revolt full of uneducated, jobless nazis trying to hurt the economy?
*crickets*
What is corporate welfare?
Same as any other government redistribution of wealth welfare program, only it trickles up. ... Which then can spawn dependancy, favors, feelings of entitlement, inefficiency, etc... occurs from the state to the corporate level.
wiki def. - Corporate welfare is a term describing a government's bestowal of money grants, tax breaks, or other special favorable treatment on corporations or selected corporations
The news of late has been GE virtually unaffected by tax rates since they pay little if any taxes. This may help fund moving factories overseas, pay huge bonuses, offset losses accrued through bad decisions, effect stock prices... The CEO may get rewarded by becoming a lobbyist in what was supposed an administration free of them. "They'll be no lobbyists in my administration" - O
Immelt, CEO of GE, is now O's job council head honcho. So a guy whose company is part parent to NBC and run like a bank that nearly went bust, is rewarded with bailout money (corporate welfare) and hired to head the very thing he is fleeing... American jobs.
The $16 trillion of "free" money from the Fed to banks is corporate welfare. It's not enough. It never is. Some of this money then, of course, goes back to politicians to fund campaigns and sell "the banks own financial reform laws to constituents"... Who then like good little bitchez eat it up in the name of capitalism or consumer protection.
Because as we all know, these little hijacked grass root movements on the right and left are the real problem, according to corporate news sound-bytes.
On the other side of GE, you may have a Newscorp and FOX. So you get dough, you then dictate laws by funding both sides of an election (like the banks did with Obama and McCain), you own the news outlets that successfully tell the sheeple what to think, in the name of capitalism, systemic risk, fighting wars, fighting drugs, they tell you what to buy, what to eat,
and APPARENTLY, what to fucking write on zh.
Fannie Mae, Freddie Mac, GM are good examples of permanent corporate welfare dependants for the rest of our lives, should we choose to allow it. These are your true lawmakers as all these tax draino's move from post to post, from Goldman to Treas. Sec., from Goldman to head the CFTC. Our politicians are the salesmen of the laws usually most preferable to these corporations.
Crony capitalism is real. This is a corporate run state... a fascist state.
WE THE CORPORATIONS OF THE UNITED STATES of AMERICA
I blame The Federal Government and Barney Frank,along with his fellow co-cospirators on the House Financial Services Committee that allowed for Sub-Prime Mortgages and help create the 2008 Melt-Down in the First Place. Barny Frank Pushed for Mortgage Underwriters to write Mortgages to the poor ,who couldn't in a million years pay off the debts. Remember,it was the Pelosi/Reid Congress with people like Barny Frank that made this WHOLE MESS Possible,by re-writing the Banking Codes that had Re-built this Country from the Great Depression into the Super-Power of the World. By undoing the Work of FDR,they created the mess and Now are lying saying they can get us out of it. IT is all about Power and the Left and the Right are USEING YOU. The Left Blames the Right and The Banks. When in reality it was the Left all along that made this mess.
I stand with reason and not the Protesters(i.e. The Useful Idiots of the Marxist Communist Left.)
I Stand with the Tea Party. I Stand with the Founders of the United States of America and the Constitution. I Stand with Israel. I Stand with Mercury Radio Network,GBTV,The Blaze dot com and Glenn Beck.
So an insignificant bump in "bad" loans (they didn't performall that bad relatively) broke lose the inhibitions in the financial industry ... soooo basically you support a hockeystick theory :p
The bad loan was initiated by an individual who more than likely knew they couldn't afford the loan. The banks were forced to give these loans because the congressmen and women were insisting that everyone should be able to pursue the American Dream of home ownership. The banks relented and knowing full well the likely bad outcome passed these notes on to others. Investment bankers then resold as exotic products those loans in the form of CDO's and other RMBS and proposed they be fraudulently AAA rated. The point is there are plenty of guilty parties. In fact everyone deserves to be jailed from the individual who initiaited the loan to the investment banker who sold the mess as AAA.
My point is do your home work before simply saying this is a Wall St. issue.
If that was _all_ that happened we wouldn't have had a mortgage crisis ... the vast majority of subprime loans were created without any government pressure whatsoever ...
Gotta dig deeper. Who paid Barnyard Frank to push the legislation? The banks as they knew the normal economy went poof and they needed a new bubble to get their juice out of. To act like the politicians are doing something to help the people is naive.
Nah, he just supports you marching on WDC, so that you can be shot down as a terrorist, in a public opinion compatible way..... after all, it doesn't look good if we gun down people protesting against bankers :)
Stand around on Wall Street all you want. Camp there all winter. The problem is in Washington. Get a million people on the Mall and then we got a party...
They'll never go to the mall. They're in love with Obama still and too dumb to realize that HE is their problem right now. As far as I can see, their primary bitch has been student loans. They're too dumb to notice that the goverment took over the student loan industry by conveniently tucking it inside Obamacare which this same bunch cheered for - and still want - because it's 'free'.
A million on the mall protesting anything doesn't get any attention anymore..... the media doesn't cover it. They'll cover a few hundred Tea Partyiers (bought and paid for by the Koch Brothers) but ignore hundreds of thousands protesting against the War in Iraq or any other REAL issue.
That's part of the problem, the 99% can't get government to pay attention to their concerns - the media focuses on non-issues to divert attention from reality.
Show me proof of any Tea Partier bought and paid for. If you wanted to be part of a movement then you should have been part of the half million people that descended from all over the country on DC in September of 09'. No one was paid to show up, in fact nobody knew if anyone would show up they all just did. It was quite a moment in time. Unfortunately most Americans got their info from the main street media which has more power to shape opinions than truth or logic.
Funny how the main street media and Democrat politicians claim the Tea Party is just a bunch of racists. Herman Cain is there favorite candidate right now.
Wake up America.
Interesting, i've heard that message a few times recently by the troll brigade "Don't focuss on the bankers - it's publically unpopular for us to assrape you then.... better be against the gov, so that we can call you terrorists."
Your a bright thinker Rynak. Expose the puppet masters and work backwards to the puppets. It takes a wee bit more research time to identify them by connecting three dots but so be it.
Also, know them by their works and that may take more than eight seconds online as well in this era of subterfuge. The "I AM HELPING THE PEOPLE" bill or trust fund's intent can be meaured in terms of concepts as well such as truth, freedom and justice.
It took me all of five minutes to conclude the intent of the Obamacare bill was a tax at the issue level of the 3d pyramid. Dodd-Frank did not line up to raw concepts of justice or accountability.
When the people key in on the concepts, they will easily be able to construct issue or detail based solutions and ultimately policy.
Stand around on Wall Street all you want. Camp there all winter. The problem is in Washington. Get a million people on the Mall and then we got a party...
Elizabeth Warren : the way to go in USA. She is right on the ball. I hope she succeeds.
The lipstick shows just how the cookie crumbles here on ZH!
The fascists in control are going to have a problem when the money runs out at the local level and the last essential public employee has been let go and the property taxes cannot be raised any further. Some possible examples may be that California will be taken over by the cartels while northern Illinois, and major portions of the NY metro aera will descend into anarchy, dog eat dog. Washington, DC will become a fortress, guarded by the millions of GIs now overseas.
Getting back to the communities where we all band together for the greater good will become the eventual norm. Kind of Mad Max goes suburban. But the path to get there will be a bitch and cost the lives of millions in this country.
the OWS folks are giant douchebags. They lost me with their list of entitlements. We are entitled to jobs... we are entittled to blah blah blha.
NO one is entitled to jack shit.
fuck the bankers, fuck our corrupt polititcians, fuck OWS. fuck anyone on the gov't tit. Get off your ass and make some thing of your self. Its not easy, but survival ain't a cake walk.
ALso, Vote ron paul.
OWS isn't a centralized group that can come up with a list of entitlements. Whatever you saw was list that came from the media designed to alienate you. It worked. But that list is not OWS, it is a propanganda piece that you failed to see through. Smarten up and quit letting them con you.
Sorry rumblefish, but you're the douchebag. Don't you realize playing "the game" isn't a solution when the game is as rigged as it is? We seriously need a reset but sorry Ron Paul isn't it. Let's completely revise our system, so that instead of a representative democracy we have a direct democracy. If all the "representatives" are bought and paid for (both parties) what the hell is the sense of supporting them?
Let's get money out of politics for starters, and stop the revolving door between government and private industry.
First off, we have a Representative Republic. We do NOT need to change that. What we need are honest people. The best system in the world will not survive dishonesty. We have a constitution, we have laws, if nobody is upholding them we descend into the caos and corruption we see today. Seems the only crimes we see today are the obvious like stealing and murder.
Lastly, as long as their have been politicians there have been people with money to influence them.
There is no substitution for honesty and quite frankly I wonder if anyone knows those traits when they see them.
Honesty can be encouraged by a simple amendment to say a street naming bill:
Anyone giving a bribe to a public official or any public official taking a bribe shall be executed on sight.
Of course we would have to do some preliminary work first to get the people satisfied that would execute people on GP.
Details , Details. You know why everyone should stand why OWS right now? It's the only group that has even mentioned anything about wall street since this mess began. All the self righteous bullshit on here is enough to make me puke. There are veterans from all wars out there since WW11. There are young, middle aged and old people. There are the people that did everything right and now can't make the light bill. I've got small business owner friends that are emptying out their once rich IRAs just to pay the medical bills.
So for all those who are self righteously screeching about the 1-2% of them that may have broken the law to get a house, or are spoiled, you are the problem , not them. You've been wailing about the lack of action by Americans against the corruption. Now we have a bunch of arm chair quarterback tea bag fucks who are yelling at the Americans who got off their couches because their team got bought off and this ain't them, screaming about the messengers and forgetting why this site became popular in the first place. Go get a job at a bank assholes. You know you love them. Go polish some knobs. Leave the spooge on your monitor you greasy fucks.
we are supoosed to have a representative republic. I don't believe we have that today. . What we have are representatives for corporations (includeing wall st) that pander for their own self interest. With the masses attentions being occupied by x faxtor, american idol and facebook, we're simply not going to get them to see the light.
Dude, you'll be lucky in the future the way Cali is going to even have cops come to your house when you call them! What you are proposing is not going to happen...Regardless of all the green hoppium you smoke!!
well right back at you WCL. the problem is what you are saying and what the OWS protesters I've heard demanding are two different things.
We need something that starts wtih an R buts its not a reset. It a Revolutions. And I'm sorry, camping out in Manhattan with your unemployed friends isnt a revolution.
well right back at you WCL. the problem is what you are saying and what the OWS protesters I've heard demanding are two different things.
We need something that starts wtih an R buts its not a reset. It a Revolutions. And I'm sorry, camping out in Manhattan with your unemployed friends isnt a revolution.
Question is are you and Westcoastliberal same troll or two different ones? Hmmmm.
Troll says the DB that been ZH memeber the shortest amounts of time.
saying troll = I dont have shit so say.
Shouldn't you be painting a sign demanding something?
Westcoastliberal!!! funny choice for name. Sunday afternoon of trolls. Think you are all here talking to each other. Important people of Zero Hedge are busy. LOL!!
Reading comprehension is bonus, nit wit.
This thread was all the evidence I needed...$#&*^&%##%^&&&*&**^%$$@!@!@#@()*(&*^&%$$@#@!@#$%^&&**((()*(*&*^&*(%$@^#@#^&*&*&*&*(*(*(*(()(__)__(*((*)&^(^&(%($
I have a feeling the number of handgun permits issued to Wall Street banksters is going to surge!!! Hey, that is another industry that will grow, the manufacturer and sale of firearms and ammunition!! woohoo!!!