What is your take on the Wall Street protests?

[sasvermont]

Just curious. I am not sure I understand what these people want and expect to achieve by protesting corporate greed. What do you think?

Please don't be mean to each other, if and when you comment.

Thanks!

[momoffuzzyfaces]

I don't know. I wonder if it's just frustration over not only corprate greed but greed in Congress too. It seems they are all working for the rich while the middle america and the lower classes just get worse off every day. That's my opinion and I'm sticking to it.

[kuhio98]

I'm not sure I understand what they're protesting either.

I asked on another board and got slammed with "Don't you read the papers!?!" and various vulgarities about what a stupid person I am. But, one said it was to protest the bailouts given to companies back in 2008.

Okay, so I asked -- "So they are protesting the President and Congress voting (without evidently reading the bill) to bail out corporate America because some companies were "too big to fail".

Well, I was called all kinds of awful names saying that it had nothing to do with that.................But, still no one can explain to me what they feel is the problem and what needs to be fixed.

[Grace]

I'm not sure what they hope to accomplish. I did hear a short segment on CNN the other day. CNN was talking to a recent college grad who was unable to find a job, so he was protesting. It was not specified what his major was, but after two minutes of listening to him, I knew why he couldn't find anything. He couldn't put a complete sentence together without you know, like, and other assorted fillers.

[sasvermont]

Quite a few banks were allowed to fail. Probably the smaller ones - ones the big shots have cared less about. I surely would not have wanted a total meltdown of our banking system. That would have been deadly.

I suspect these protestors are going after Wall Street and big Corps. because they can. Bank regulators and the people responsible for setting up the banking and investing rules and regulations need to be hung out to dry.

Long ago, I worked for a big bank in PA. I worked in the corporate accounting section and handled the paperwork for MBS investments. (MBS = Mortgage Backed Securities). Sound familiar. Back then, there were regulators crawling all over us - making sure we had good collateral for borrowings against the mortgages. We had auditors in our offices nearly every day, making sure we weren't screwing around. Somewhere, somehow, all that must have stopped or maybe the regulators weren't caring much about what was happening. Lately, there was no regulation against selling bad mortgages to investors, I suppose. I never did understand how the banks/investors/borrowers/appraisers got away with such outrageous activity.

Do these protestors plan to take over Wall Street? What do they want? Do they think the higher ups in the Corp world will reduce the salaries and perks and give them the money?

There has always been a gap in earnings between the highly paid and the middle class. I think the gap is widening and it hurts. The Corps are getting richer and the poor are getting poorer. How do we change that? Greed is greed.

If you want to talk greed, how about Hollywood and the money the big movie moguls make for each lousy movie. Millions. Why not start protesting in front of the movie stars' houses.

How about the sporting world. I see the dollar amounts to the contracts being handed out. Outrageous. Let's protest them. Let's NOT go to or watch the sporting events. That's how you protest.

I just don't see them organized enough to get any one point across! They are pissed but aren't we all!!

[kuhio98]

...
If you want to talk greed, how about Hollywood and the money the big movie moguls make for each lousy movie. Millions. Why not start protesting in front of the movie stars' houses...

And the hypocrisy of a couple of the movie stars who have shown up there to "support the movement"! They are cheered like they are one of the masses. Give me a break!

I'm soooooooooooo sick of these celebrities flying all over the world on private jets and then preaching to me about how we're killing the planet with fossil fuel! Of course, these are the same ones who put out exercise and health tips who keep their weight down by smoking.........

But, I digress. If anyone can explain to me what their goal is, I'm all ears. Maybe they just want to show their frustration with this whole mess. I can understand that. But, if this is another -- take money away from one guy because YOU think they have enough -- to give it to someone who didn't earn it, well, then I think that's GREED!

[wombat2u2004]

I believe the world is in a bit of trouble with this sort of thing, and something needs to be done. The gap between the "haves" and the "have nots" is widening every day. On one hand you have people who struggle to make ends meet and on the other you have people who make SO much money that they wouldn't be able to spend it in 10 lifetimes.
My take on the protesters, is that they want to do something about the ever widening gap.

[RICHARD]

He couldn't put a complete sentence together without you know, like, and other assorted fillers.

Dude, you just hate like the people that are out there trying to like get ahead in the world.



-------------------

Most of the college kids are under the impression that a sheepskin guarantees a 'good' paying job.

The days of 'starting in the mail room and working your way up the ladder' are long gone.

They have no sense of WORKING for paycheck.

That's part of the "Go on line and get a degree" world we live in.

No one want to work to get ahead, they think that sitting in front of the idiot box and taking a test makes them qualified.

Effin morons.

[wombat2u2004]

No one want to work to get ahead, they think that sitting in front of the idiot box and taking a test makes them qualified.

Yeah, but I've been on the virtual farm on Facebook for a couple of years now. I have 3 goats, a pig and a row of cabbages.
I am now a farmer.

[Karen]

I think that until they get a coherent message together other than "we are unhappy" I don't see what good they can do. Each group has its own slogan, or complaint, but I have not heard much for ideas for solutions.

[Puckstop31]

http://pajamasmedia.com/tatler/2011/...eve-our-goals/



Where is the media outrage about this? Can you imagine if the "Tea Party" said this.

I'd say that a majority of these people protesting are just doing what they are told. How sad.

[Randi]

I believe the world is in a bit of trouble with this sort of thing, and something needs to be done. The gap between the "haves" and the "have nots" is widening every day. On one hand you have people who struggle to make ends meet and on the other you have people who make SO much money that they wouldn't be able to spend it in 10 lifetimes.
My take on the protesters, is that they want to do something about the ever widening gap.

This is exactly what's happening and people have had enough!! The financial crisis is not the ordinary working class person's fault. A lot have been laid off over the past few years, and more will follow. Once you're past fifty, it's almost impossible to find a job.

Like SAS says, the banks are having a meltdown. They have been too greedy. Stockholders are losing their money - however, I don't have much sympathy with them, they have been trying to get money from doing absolutely nothing, except speculating. I certainly understand the protests!

In Denmark, politicians get a pension from the state and they get another pension as well. Some get more than $10.000 a month for sitting on their a§§es, which taxpayers pay.

An article from a newspaper:

The protests against the global financial sector is now moving towards Europe. In Denmark, people are ready to go to the streets to demonstrate against the big banks' greed and capitalism in general. A Danish movement that calls themselves Occupy Denmark, invites on Facebook people to demonstrate Saturday. 15 to 18 at City Hall Square in Copenhagen. This is done in solidarity with similar demonstrations around the world.

In London, more than 3,500 people volunteered for a similar demonstration on Saturday. Stream is ready to support the Unity List Finance and Industry spokesman Frank Aaen says he is ready to support and assist a Danish citizen movement who rebel against the financial sector. I would also like to help raise some of the problems, "says Frank river. "It is grotesque that while we have helped banks with billion warranties, and they simultaneously before allowed to borrow at low interest rates in the National Bank, then, thousands of Danes sacked and punished with higher interest rates," he says.

[momcat]

I've seen this on the news and I'm not completely sure of what's going on or why. I am angry and frustrated about what's happening to the middle class working families. Does this group have any answers? If I knew what point they're trying to make maybe it would be easier to understand their purpose.

Kuhio98, there was no reason for you to be the recipient of any verbal abuse. I'm so sorry you were subjected to that! You have always impressed me as being an intelligent and informed individual. I do read the papers and follow the news to keep up with what's going on in our crazy world. But if anyone has explained what this is about we both seem to have missed it.

[wombat2u2004]

This is exactly what's happening and people have had enough!! The financial crisis is not the ordinary working class person's fault. A lot have been laid off over the past few years, and more will follow. Once you're past fifty, it's almost impossible to find a job.

The middle class have always been the ones to pick up the tab, to pay the bills. As far as giant corporations and governments are concerned, the middle class is the bucket of money where they can reach in at any time and take what they want. The more thay take, the more middle class families slip down into the poorer class.
Any strong economy is built on a strong middle class. Corporate greed and bad government management is reducing the middle class at an alarming rate.
Yes, the world is in dior straights for sure.

[kitten645]

I agree with the protesters in their frustration. I think the new bank charges are an excellent example. My bank want's to charge me a fee for using my ATM if my balance is under $15,000 If I had that kind of cash lying around, I wouldn't mind the charges! Did you know that ATM cards were created to minimize the cost of processing paper checks? It would cost up to $1.55 per check to process. They've been saving all that money ever since! An ATM takes money directly from your account so the bank doesn't have to get lines of credit to cover your purchase. It's FREE!
Seems like that is what is happening all over. When some of the super rich are saying, yes, we should be taxed more, that is quite telling. It's shameful that the big companies don't foot an equal share of the bill. Worse yet is that our government (and not JUST the President) are more interested in their re-election than in the best interests of those they serve.
I support the protesters because at least they are voicing SOMETHING even if it's frustration and not answers. At least it isn't the old "sit down and shut up" that the middle class has been doing for years.