Meltdown Part 3: "Paying The Price"

Tyler Durden's picture

We continue the Meltdown series with part three out of four: Paying the Price, which looks at how the victims of the 2008 financial crash fight back. A protesting singer in Iceland brings down the government; in France a union leader oversees the kidnapping of his bosses; and thousands of families are made homeless in California.

Hordur Torfason, an Icelandic singer, leads the way in holding protests over the country's economy, calling for the resignation of the government and new elections. Geir Haarde, the prime minister of Iceland, was surrounded and pelted by the protestors. Haarde soon resigned and the country's government collapsed.

In France, workers fought back to claim their rights. The Continental Tire factory announced its plant would close by 2010, meaning job losses for its 1,120 employees. Workers occupied offices and trashed the place in protest. Protests spread right across France and Europe.

As the grim toll of the financial crisis continues to mount around the world, many governments are looking for the true causes of the meltdown. In many cases, what they are discovering amounts to a crime.

Incidentally, we want to point out that we incorrectly identified Al Jazeera as the source of these non-fictional accounts. The Arabic media network is just a distributor: the original source is CBC Canada. That said, we are confident the fringier elements will simply resume their calls for some grand propaganda conspiracy only this time they will blame Canada...

For previous parts, here is Part One and Part Two.

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rocker's picture

Everyone Needs to Remimber as posted on ZH:  "The Collapse Is Coming...And Goldman Rules The World"

Reference past post:

We are all beholden to GS and Lord Blankfein really believes he is God. 

Doesn't anybody question why during the Greece protest they had Goldman Sachs on Banners directing much of their problems on GS.

Please: When the Fuck can we keep focused on who is doing what to who.

Surely, Lloyd Blankfein's 100 million dollar bonus was NOT earned after he was bailed out by Hank Paulson and Neel Kashkari, both prior GS employees.

Where is Neel Kashkari now.  Guess: The Bond King Pimco.  The circus continues.

Yamaha's picture


AldousHuxley's picture

US Government censors mass media just like in communist China. They don't want you to see that the revolution can be real.


Occupy Maine - rain or shine


Occupy Asheville, NC


Occupy Seattle


Occupy Denver in front of Federal Reserve


Occupy Austin, TX


Occupy San Antonio, TX


Occupy Portland


Occupy Los Angeles


Occupy San Francisco - Marines joining in


Occupy DC in starting protest against corporate personhood


Occupy Chicago in front of the Federal Reserve


Occupy Boston - "Fuck the Fed"


Occupy Wall Street New York   500 arrested on Brooklyn Bridge


More launching near you:



It is a class war. 1% vs 99%. Make banksters pay!

AmericanFUPAcabra's picture

Don't have a link handy but i know there were about 50 people in downtown Spokane, WA. The police made them take down their tents and anything deemed semi-permenant, as it was against a city ordinance for transients, bums, blah blah. They are still out there with similar signs. 

well there is a facebook for #occupyspokane. dont have a fb tho nor would i 'like' it while uncle bens in town

AldousHuxley's picture

American forefathers did not ask for permission to protest from the King.


Also, in NYC, banksters are using their power again with money. War is on.

JPMorgan Chase recently donated an unprecedented $4.6 million to the New York City Police Foundation. The gift was the largest in the history of the foundation

Taku's picture

I've already commented on 'how to protest' (sarc) previously, so won't go in to too much detail, however, I'll say this, dare to protest, TPTB will try to put you in jail

Whatever y'all do, do it smart.

Regarding the banks, if they charge you to access your own money, why don't you demand they be charged for accessing your taxpayer-funded bailout money they were so happy to tap?

For the little guy. Stand up. Do your part. Be heard.

Do it for yourself.

Do it for the kids.

Do it for justice.

dlmaniac's picture

Employment is a human right?1 Since when anyone owes you a job?Completely utter BS. These French crying babies have nerves.

Incubus's picture

Let's put your fat asshole out on the streets for a few weeks and see if your opinion changes about employment.



Z Beeblebrox's picture

So dlmaniac is out on the streets for a few weeks. Do you, Incubus, have a duty to employ the maniac? Or are you going to hold a gun to someone's head and make them do the hiring?

snowball777's picture

Is it the workers fault that banksters trashed the economy and the future for tractor sales took a dive?

These people worked for a living, made their bosses money, and got fucked for their troubles. If you can't understand that's wrong, then maybe you need to have your job tossed aside, and your children put in peril before you'll understand how screwed up this is.

Does management have a "right" to hold a gun to workers heads and tell them to get back on the line? Does management have any responsibility whatsoever?

Let's see how many tractors these rich (and profitable, as stated in the video) assholes can make with no labor.


Xibalba's picture

Jamie Dimons home addresses....for when you wanna send flowers.  


270 Park Avenue, New York, NY, US
1185 Park Ave, Apt 11l, New York, NY, US
398 Greenwich St, New York, NY, US
211 E 70th St, Apt 10h, New York, NY, US
388 Greenwich St, New York, NY, US
1185 Park Ave, Unit 17l, New York, NY, US

Zero Govt's picture

Jamie Dimons sure got alot of New York apartments, all paid for on enflated JPM profits on inflated business that were a debt ridden LaLa Land. Thanks to the taxpayer bailing out his delusional arse, he kept them. I wonder what they're all for? Is it for all the mistresses and hi-end prozzies or does he swing the other way, rent-boys that he pays for on Bank credit cards like Bumma that all the bwankers 'cleaned' through their over-regulated, never-regulated, sewer systems?!!

Michael's picture

I would also like to add, it is Private sector vs Public sector Warfare.

After all, it was the public sector that made all the decisions that got us into this mess, bankrupted the country, and ruined all our lives.

sgt_doom's picture

Mucho thanks, Xibalba, I keep forgetting to post that, and to snowball777,

Nope, I believe it's the sociopathic greedhead banksters' fault, as they peddled securitized debt, that is, hundreds of trillions of dollars of worthless credit derivatives, which the Fed and other central banks rushed in to buy, thus the banksters sold worthless snake oil, then are repaid a second time by their front offices (the central banksters) bailing them out --- unfortunately there's still trillions more to go, and the banksters continue peddling snake oil (i.e., securitized debt: credit derivatives in thousands of categories, and ye olde credit default swaps at the naked level, etc.).

Then they want the rest of us to pay again for their crimes.

And the simplest excalamtion of the above:  it's over three years now that mark-to-market was discontinued (meaning they refuse to place a value on their worthless securitized instruments of destruction).

Thanks to all for some wonderfully intelligent and thoughtful comments today!!!!!!!

AldousHuxley's picture

The young Americans do not have a right to employment


Then I say

  • Wall st. banksters do not have right to bonus from our tax dollars
  • Wall st. banksters do not have a right to employment from tax dollars bailing out
  • Wall st. primary dealers do not have right to cheap access to capital before anyone else more productive to get them
  • Older generations do not have right to screw the younger generation with LESS opportunities
  • NYPD do not have right to employment with money from JP MOrgan who got bailed out from your tax dollars
  • Executives do not have right to golden parachutes when their companies lose money and employees are laid off
  • Paris Hilton types do not have right to never have to worry about employment

It is not a question of right to employment, but which group is favored by the government and selectively given that right to employment. Society is saying their job is harming society and no, they should not be favored over productive sectors of economy.

Government favored employees:

  • police / military (hire half of working class to kill the other half)
  • wall st. (enable ego boosting gambling for the rich)
  • executives (slave masters)
  • trust fund babies in top 0.01% wealth (because inheritance trumps lifetime of hard work, brains, sweat, even luck)
Roger O. Thornhill's picture

It's actually simple - the system we fight against is not capitalism per se - it is collusion.

Collusion between governments and the TBTF banks/financial institutions.

Anti-Trust laws were supposed to prevent this (at least in the USA), but govt is bought out. If you think bigger govt will fix this you are wrong. It will be BIGGER collusion, regulations that prop up the monsters and destroy the small banks, and then we'll get IBTF banks (Impossibly Big To Fail).

Break these institutions down into bite size pieces, then they can never hold us hostage again. 

I'm a libertarian mostly - but monopolies are NOT free trade, or a free market. Smaller is better. That was point of the US Constitution -> de-centralization.

What I fear is a false paradigm is being floated here - that we must have a tighter relationship between big banks and big government via 'regulations' that favor the TBTF's. And that just gets us sovereign defaults, and that can destroy the world. Or usher us into the most hellish scenario - one monstrous, unanswerable global government that there is no defense against.

BTW, may I just add... Fuck the Fed.

Hacksaw's picture

No but maybe we can make sure the jack wagons don't have a right to make profits either. Maybe we need to get away from corporations where no one is legally responsible and go back to mom and pops where the owner has to look their customers, workers, and neighbors in the eye and are legally responsible for their business decisions.


Sign to get the money out of politics.

dlmaniac's picture

"Let's put your fat asshole out on the street for a few weeks"

If I landed my @$$ on the street then it'd probably be that I have no skills to be worthy of a job instead of someone violating my employment human right.

We can blame the politicians & bankers for creating bubble job markets that sucked these workers in and then threw them under the bus when the bubble popped. But seriously no one owes you a job to begin with.

sgt_doom's picture

Sonny, no one owes the bankster criminal sum a "get-out-of-jail-free-card" either, and certainly no one owed them trillions and hundreds of trillions of dollars -- and they should pay taxes just like the rest of us.

STFU, PAM!!! (punk assed moron)

Debugas's picture

it is not about jobs but about having access to the raw materials and tools to be able to work.


Let's say i want to be a farmer but i can not afford to buy a land. I have a right to  1/N of the land of my country with N citizens total.

bugs_'s picture

that would be 1/(n+r+i) actually.  citizens + residents + illegals.  and every day your piece will get smaller.  when you do get your piece, a year later you will have to give some of it up, to be fair.

john39's picture

its about a system designed to funnel wealth and power into the hands of the few at the expense of the many.  debt based monetary system=slavery.

AldousHuxley's picture

debt = slavery

that is the exact tactic used by human traffickers. only freedom you have it to choose which overpriced shitty prouct to buy at the company store and which brainwashing you' like to recieve from your corporate controlled media.


The trend is less freedom for you and your children. better wake up and push back or else your children will be born inside the prison gates where guards poing the gun inwards.

DeltaDawn's picture

Debug read "A Dirty Life" and gain some inspiration. There are many land owners who are willing to let you farm their idle plot. There are several landless with thriving enterprises in my neighborhood. There are ways my friend. Get up and do it.

smlbizman's picture

hey dl....its called fiduciary responsibility....asshole

LetThemEatRand's picture

"These French crying babies have nerves."

They also have guillotines.  Ms. Antoinette was quite certain that the people did not deserve more than they had.  They were worthless cake eaters after all.  How did that work out for her? 

Rick64's picture

Those workers earned those companies huge profits then when they have a decline in profits they reward them with a layoff? All the while executives of the company that didn't prepare for these situations are rewarded and living extravagant lifestyles.

snowball777's picture

Since when is profit a corporate "right"? Since when is safety a "right"?

If you'd rather spend all your money defending your pile than have people working productively in society, so be it. No justice? No Peace!

LasVegasDave's picture

since when is a job a "right"?

Oh, I get it, now that you put a gun to my head.  I owe you a job.

Anarchists, communists, looters and moochers- meet my saiga 12 guage.  would you prefer double 00 or lead slugs?

snowball777's picture

Ignorant tool of the TPTB, meet my .22 Stinger; thanks for the 12-gauge!

AldousHuxley's picture

job is a right as much as survival is a "right"

Just because it is not written in the law, doesn't mean humans will not seek it.

When you don't give a job to youth, they will riot. Rioting becomes their job. When you don't give a job to the poor, they will sell drugs to your workers, commit crime, loot your store, adopt shit culture, whatever is necessary to surive as surivial instinct is natural.

They won't point a gun to your head for a job, they will skip the job and take your money. Your police protection fee increases. Insurance increases. Your cultural capital decreses. Your status in the world decreases. Your power and influence over the world decreases as they see that your rule of law is unjust. Overhead of society over such protection becomes a burden too.

Elites pass out welfare, unemployment, etc. not because they are generous, it is because history has taught them that cost of welfare is less than cost of securing their assets from crime. It is the more productive for society.


Your 12 gauge is no good when you are fighting those who have nothing to lose. You have more to lose than the downtrodden. It is like showing off your muscles against some punk kids in the ghetto.  Desparate people will do crazy shit. While you are fighting to protect your property, folks in China are progressing in productivity and will be wealthier because they are free from such burden.


In the end, nobody wants clusterfuck of a society.





bbq on whitehouse lawn's picture

Is labor a slaves right? What rights do you have, when they can be removed at will by the state?

If you want rights, you need to have the ability to enforce them. These protests are attempts to enforce a right.

Agree or not its the right of the people to assemble, as it is a right of nature to give action to thought.


Snidley Whipsnae's picture

Lest we not forget...

  • First AmendmentEstablishment Clause, Free Exercise Clause; freedom of speech, of the press, and of assembly; right to petition
  • Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; OR THE RIGHT OF THE PEOPLE PEACEABLY TO ASSEMBLE, and to petition the Government for a redress of grievances.
    augie's picture

    if you still believe those words are valid you are up for a rude awakening when your "rights" are violated before your very eyes. America is dead, the longer we cling to this insane notion that the constitution means anything, is the longer the established power structure maintains it's dominance over everyone. It doesn't matter if you are a Lib or conservative, libertarian or card carying dem/republcan't, You are a slave. WAKE THE FUCK UP.

    None are so hopelessly enslaved, as those who falsely believe they are free


    - Goethe

    DosZap's picture


    Tell that to the young ladies  that were FENCED in that got maced for doing nothing but TALKING, and protesting NYC last week.

    Where were their rights?.

    NumNutt's picture

    Those were a bunch of stupid hippies protesting.......well actually I am not sure what the fuck they were protesting, but they were blocking traffic.  Those people don't know what to do with their time since Jerry Garcia died.

    bbq on whitehouse lawn's picture

    Congress shall make no law,! Tell that to every circumcised male who was born in the US. Circumcision was about religion. So much for congress and the law.

    FeralSerf's picture

    Nah -- it's for identification, a brand.  Just like Nazi Germany, they'll make you drop your trousers to find out what herd you belong to.

    Kayman's picture

    The criminal proceeds of the Too Big To Jail banksters is diverted into the protection racket.

    Where has Honor and Decency gone ?

    Absinthe Minded's picture

    Keep up the good work, getting out the information is so important. Plan on attending Occupy Maine in Portland tomorrow. Thanks again.

    Freddie's picture

    Oddly the protestors seem to love King Obama.  I am starting to think this protest movement is a DNC/Chicago/Alinsky/Obam ops.  This is all looking rather contrived.  Nary an unkind word toward the Kenyan- FAIL.

    MarketWatchTerrorist's picture

    Try to occupy any part of D.C. and you're going to get hurt.  The place is swarming with cops and they are well known for their brutality and corruption.  In NYC they pepper sprayed some cooze in the face and everyone flipped their shit.  In D.C. they'll probably beat a few people blind, and that's just another day in the capital.  Let the protest start and you'll see the full force of the police state on display - sound cannons, heat cannons, mobile X-ray scanners, facial recognition, biometric scanners everywhere collecting data, etc. etc. etc.


    You'd have to be a damn fool to try to protest against the establishment in its capital.  The restraint shown in New York will not extend to D.C., rest assured.

    sasebo's picture

    What kind of meaningless crap is this? Give me a break.

    Should we change your diaper & blow your nose?

    Confused's picture

    Remember: It is still .1% of the population feeding off of the other 99%. Why not protest? 


    "Look, the people you are after are the people you depend on. We cook your meals, we haul your trash, we connect your calls, we drive your ambulances. We guard you while you sleep. Do not... fuck with us." 

    - Tyler Durden


    DosZap's picture


    Try to occupy any part of D.C. and you're going to get hurt.  The place is swarming with cops and they are well known for their brutality and corruption. 

    Then force needs to be met w/force, and exponentially.

    SHIT goes two ways..............

    That is OUR Capitol,our country..............not theirs to do with, and to us as they please, as long as we follow the law, and he rules of law.

    The right to demonstrate peaceably is  OUR RIGHT,if met with violence should be met with the same violence.

    When the Protectors become the TERRORISTS,it will be time to take back the country, by force if necessary.

    MarketWatchTerrorist's picture

    See my above comment.  The leftist females you see in this protest movement burst into tears at the sight of a gun and have never fired one in their lives.  So remove 60% of the "protesters" out right when it turns violent.  Women are useless in that way.


    Among the remaining 40%, half will head for the hills when the police start sweeping the streets with tear gas and sound cannons/microwave heat cannons, and so forth.  Among The remaining 20% only half will have ANY firearms training/background whatsoever, and only 2% will be willing to commit acts of violence, at which point the other 98% will condemn them.


    No, your dream is a fantasy.  Your revolution is dead in the water.  The only people in this country with the capacity for violence are on the right and they won't be fighting and dying for any leftist workers revolution any time soon.

    AldousHuxley's picture

    Sure, the class war won't be won over night. Slaves first have to realize that they are slaves. Even during emancipation, some slaves wanted to remain as slaves for the cowardly fear of their masters. Win the hearts and minds of the majority and you won half of the battle. The rest comes in time when you fight.


    Humans have imaginations to make dream a reality. History shows that those dreams are the most powerful force in nature.

    • Your forefathers had a dream of being freed from unfair taxation by the British royals who had the world's most powerful navy to beat other countries. How did they dared to fight? Guerilla tactics and lots of bloody sacrifices.
    • Martin Luther King had a dream too. What do you think were the chances of a black president when he was alive living in a country with most powerful military determined to make blacks second class citizens? These were the days of public lynchings my friend, and MLK eventually gave up his life. But his children have much more opportunities and fair representation than MLK could have imagined.
    • Ghandi fought for freedom in a foreign coutry of south africa for 20 years!
    • Nelson Mandela was imprisoned for 27 years when only white had the right to government employment
    • Vietnam protest movement was 7 years with many small and big marches, protests, and many innocent deaths including 4 at Kent State.

    Dreams don't come cheap. We have to work at it. It may not come this year...maybe not for another 30 years. But I sure don't want my children living as slaves. Do you?