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Occupy Wall Street May Address Looting by Bank of America and Federal Reserve
Many people are furious that the Federal Reserve and Bank of America have initiated a coup to dump billions of dollars of losses on the American people (and see this).
Many are suggesting that the “Occupy” protesters rally to stop this robbery.
One of the top stories currently on Reddit (one of the top social media sites), is:
I understand that the Occupy protesters are, in fact, currently debating making a statement on this theft.
Currently, there are two competing draft statements. This one is from someone very savvy on understanding how the average American thinks:
A portion of the 53 trillion dollars of derivatives (yes that’s with a t, about the size of the entire global economy) transferred to Bank of America’s parent company from Merrill Lynch in 2008 has recently been transferred to Bank of America.
Derivatives contracts in a bank are paid before anyone else gets paid.
Therefore, these derivatives contracts would be paid before depositors receive their money. These people just cut in front of you.
It's very simple, the reason that banks and trading houses were originally separated was to prevent this sort of thing. What’s really going to happen is that the government is going to end up bailing out the FDIC … so this will end up being a government bailout.
You’ll end up getting shafted, either by derivatives holders cutting in front of you or by your having to bail out the FDIC so it can bail out banks depositors. Either way, this is yet another instance of looting by the big banks and big government.
Just say no … don’t let this stand.
And this one is from two people who are experts on the technical issues involved:
We denounce Bank of America’s transfer of high risk derivatives to its federally insured accounts. This is yet another example of systemically dangerous institutions, big banks like BofA and JPM, once again attempting to shift potentially substantial losses onto the backs of hardworking Americans. The fact that the Federal Reserve supports this action demonstrates Ben Bernanke’s complicity and/or gross incompetence in supporting the Wall Street elite at the expense of tax paying citizens.
Updates as they develop …
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All Zionists are Jews but not all Jews are Zionists.
Semites are people of Arabic descendency. One of my bests friends is Leboneze. He calls me an anitsemite when I get into a heated debate with him.
We laugh.
exactly. probably. but keep believing it. you arent going anywhere anyway.
What would happen if a Jewish teacher had anti black things to say?
Are you easing up on a "two blacks and a Rabbi" joke?
Don't hold your breath.
One question for the OWS Protesters:
WHERE THE HELL WERE YOU WHEN THE BANKS WERE ACTUALLY BEING BAILED OUT AT THE END OF 2008 AND EARLY 2009?!
THE BIG BAC BAILOUT WAS IN 2008! WHERE WAS OWS RIGHT AFTER TARP, AIG? AND YOU WON'T HEAR BOO FROM THE OWS CROWD ABOUT GM AND CHRYSLER BAILOUTS.
IT'S THE 4TH ANNIVERSARY OF TARP AND AIG AND NOW YOU GET OFF YOUR ASSES?
I know where you were. You weren't protesting like I was. You were ASLEEP. Dreamy eyed about your new Halfrican Savior - and all the free shit you were promised Hope and Change right ... "I won't have to pay my mortgage! I don't have to worry about paying for gas anymore!"
Look at the OWS protester! http://www.youtube.com/watch?v=P36x8rTb3jI
During this time the rest of us were doing more than just protesting - we were preparing: Getting out of debt, securing our finances in something tangible (Au, Ag), living very tight and making sure we could feed our families in the years ahead, which we knew were going to be bad.
Well now ... you have awoken from your slumber. Hunger pangs? Unemployment checks finally dry up? A message to 99% of the moocher class:
GO FUCK YOURSELVES!
Yuck. Smells like dogshit. Too many free lunch borrowing moron orcs responding to this thread. Where is Dr. Mengeles when you need him. I can't wait till the reall bubble bursts. The human bubble.
3rd anniversary, not 4th. Learn to fucking count.
@diesheepledie
This is why I support people having access to their meds; stepped-on street Ritalin just doesn't work for some folks.
I can forgive them for coming in late because I came in late too. I was busy surviving then. The government was attacking my business threatening to shut it down at the same time that I could suddenly not sell any real estate to pay for the fight. I also had 3 kids, 3 - 8 years old at the time with one of them autistic, so I was just busy surviving then. So excuse those of us who were not in a place they could join the fight right then. I will admit though that I had hope that Obama could make my life somewhat better by making us able to get medical care. We were not in great health then either. We had not yet discovered that getting off of additive laden foods would help our health more than doctors could.
Some of the people at OWS are mighty young too. Three years ago, they might not have been old enough to join the fight. Do you fault them for that?
Like somebody else said, your argument just divides us more. Excuse those that clued in a little later than you, and just be happy with yourself for being bright enough to clue in sooner than us.
Your impatience at people who failed to take earlier action (through laziness ignorance or whatever the case may be) plays into the oligarch's divide and conquer playbook.
Just a gentle reminder. come back to the table calmly, and let's all get on with it
Where were in in years past when this started? Why the hell didn't you nip this in the bud? Why did you let politicians of all ilks and Wall Street strip your citizenship and make you into a consumer? These kids have gained knowledge in a couple of years that you have spent your entire adult life in ignorant bliss and now you have the adaucity to mock them. You are the problem. Your last statement back at you.
LOL! These kids are sheep. They are being manipulated. Like you.
is that why in the last twenty years we haven't had a campus uprising on social /political issues,... answer for me this quasi-clandestine, and queer`ily awkward muzzled hiatus - answers please
Having trouble answering the simple questions, huh?
Here's another one: how many winning presidents have you voted for since 1964?
Reagan in '84? (after a bailout)
Bush in '88? (after another bigger bailout)
So....where were you?
These "kids" can rip your poser ass a new hole.
Better late than never... or have you given up the fight already and instead taken up the study of obnoxious blogging and bad maths (2011 - 2008 = 4th aniversary?)
Ok bad math, I was ranting. But is that your answer? Better late than never? How about Bullshit. The fight? These fuckers want to nationalise ALL banks and corporations. They have no interest in blaming the real culprits - the marriage between WS and Govt. Poll results say half of them want to keep the existing leadership in place. They are sheep. They have no desire to reform things - just to transfer more power under government.
There may be individuals at OWS who want to nationalize all the banks, but as a group, they are not suggesting that.
From GWs article yesterday:
https://sites.google.com/site/the99percentdeclaration/
Down boy,---Down---. Thats ' a guy. Com-on nurse, where the hell is the needle!! Wow. Milestones
When the cat and the mouse agree, the grocer is ruined.
-proverb-
There was no meeting of the minds in that marriage, one side had something to sell, and the other side had money. They kept selling, the buyers kept buying. And everyone made a bundle. Now there is nothing to sell except democracy itself, and maybe that's gone too. The power has already shifted, Wall Street played the end of the world card and won. The protesters are in the right place... first things first.
If you are up with the whole Cloward and Piven strategy, and are for Marxist style wealth re-distribution, then I suppose they are in the right place:
http://www.youtube.com/watch?feature=player_embedded&v=1CLfP5u3_JA#!
Democracy? There is nothing in the founding documents decrying individual democracy other than the House of Representatives. Other than that, democracy is not required. It is arguable, there are a huge number of adults that should be denied the vote; which was never a constitutional right in America, despite what the sheep have been brainwashed to think.
Just remember that those who worked honestly for what they have will defend it to the death. And the majority of the military will defend the Republic and the constitution in favor of democracy or any other system. Flawed monetary systems, criminal politicians, and bankers can be dealt with. Destroying a country and tearing up its founding principals - much more difficult to fix.
As for there being nothing about democracy in the founding documents, so what? I want my vote to count. I want a say in how my country is run. I don't want to just be controlled by the elite without a say.
Nothing wrong with that. But this is a Republic, not a democracy.
What type of insane system allows the mentally ill and retarded to vote? I worked the polling place, I saw them escorted in, and the "helper" going in the voting booth.
You can't cash a check, drive a car, buy cigarettes or booze without a legit ID.
But you can vote.
Fraud is the name of this democracy.
Honest people who work hard and make money should not be discriminated agains and/or punished. Lazy fucks should get off their asses and work instead of creating gangs to promote theft as a legal process. However, unethical, fucking criminal bankers should be chopped up and fed to the fish...they are the ones who have given cause to all the nutbags who want a class war in this country.
they suddenly realized that they cannot get rid of that student loan debt no matter what they do or where they go. and they suddenly realized the party is over and now its time to pay the piper. the trouble is nobody is listening to their whines. because uncle sam is dead broke and brother mean in the white house is not about to help them either.......but they want him too and they are willing to vote for him too..........
To rebel in season is not to rebel at all. This describes the false movement which OWS represents, as the government supports it 100%. People must wake up from this deception.
Timing is everything
CAUzzes for celebratory Northern INTERNETS
This is a substantial SUBSTANTIAL victory of the FREEEEdom of the NETS
In Canada, hyperlinking isn’t the same as publishingThe Jon NEwtons are real HeroZZZ for us
THANKS 2 the JON NEwtons of our PlaneT
Secession is sounding better and better!
Where is the emoticon for rolling eyes?
Nice post !
Going Apeshit - Clusterfuck Nation http://bit.ly/rlTiYM
President Obama could have changed the outcome if he had actually believed in change. He could have told his attorney general to enforce the securities law. He could have replaced the zombies at the SEC and told the new ones to apply all existing regulations. Before last year's election, he could have used his legislative majorities to repeal the Gramm-Leach-Bliley Act and reinstate the Glass-Steagall act. He could have initiated the process of deconstructing the giant banks back into their separate functions - so that banking once again worked as a utility rather than a launching pad for colossal frauds and swindles. Not only did he fail to do any of these things, he didn't even talk about it, or try.
Obama has a lot of nerve claiming to support the Occupy Wall Street movement. He should be one of the objects of its ire.
Obama has a lot of nerve claiming to support the Occupy Wall Street movement. He should be one of the objects of its ire.
And he is.
48% of the physical OWS NYC group will vote for him again as polled two days ago.
That was a great article km4, thanks for sharing.
km4...brilliant!
I could tell Obama was a puppet when he appointed a tax skipping crook as Treasury Secretary
Any still image of a FOX or CNN "moderator" at a Republican presidential candidate debate (sic), taken while Ron Paul is speaking, will serve.
This is the shit that uncle Warren and Obama probably rapped about before Warren dropped billions into BofA and then he has the audacity to chirp about taxes?
I bet a lot of street hustlers fold up their tables and walk when you come down the street. ;)
+green
<Long Whistle> Of course. You're absolutely right. Good spot.
I said in GW's earlier post about this that Ms. Bair must issue an immediate cease and desist order to BoA. How in the hell is our government (taxpayer) going to cover any portion of that counter party failure? Ms. Bair you need to wake up and realize that serious shit is going down at BoA else why would any bank directly violate banking law? When people find out they've been screwed I think they'll wig out and we'll be a whisker away from physical violence breaking out. Any company with an account at BoA out of pure fiduciary responsibility will be compelled to withdraw funds to other institutions causing the very "run" on a bank you're trying to avoid. WAKE THE FUCK UP AND PERFORM YOUR REQUIRED REGULATORY RESPONSIBILITY!!! If you don't and it starts it's over.
Perhaps Sheila Bair could wake up if she still headed the FDIC...
oops
Oops is right Tater. I messed up. Is Greunberg or whatever his name is the acting head now? My apologies to Ms. Bair. My argument though still stands about the FDIC's failure to act. Perhaps someone(s) had a little advance knowledge reference the BoA headline on ZH about the 8.5B settlement?
Idealmeat, I don't ahve an account there but you are correct anyone who does needs to rethink that soonest!!!!
And you / your business should have closed your TBTF account long ago... protect yourself..
My my. Does ZH still publish pathetic old George? How about this George? The OWS crowd is just the DNC in drag. Demands they have? Well, if the best they can do is run around, supported by the work of others while they stink up every palce they "occupy" then the banks have nothing to worry about !!!!!
Lazy bastards. I say we give them George's stuff and then the both of them will shut up.
George is awesome. You? Not so much...
No Mas = one of the few folks on ZH who continually thinks he's smarter than you but everyone knows he's just a dumbass.
'No Mas" indeed.
No Mas
So Nicess to see U here
We R BEIng polite, We r beING nicE
GET THE FUCK OFF ZH and NEVER never COME BACKS here
Turn off Rush for a moment, Hannity too, and instead, maybe form opinions based on numbers. I'm sorry that this doesn't fit the narrative that they need you to believe in order to propagate hate against your fellow citizens.
“Get a job!” wouldn’t apply to most of them. Half of the respondents are already employed full-time, and an additional 20% work part-time. Just 13.1% are unemployed--not a whole lot more than the national average.
“Tax the rich!” could hit close to home. About 15% earn between $50,000 and $80,000 annually (pretty good anywhere except in Manhattan). Thirteen percent earn over $75,000 annually, and nearly 2% bring in more than $150,000.
http://tiny.cc/s8loj