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!!
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