What is your take on the Wall Street protests?

[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.

[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.

[Marigold2]

I agree. What can they hope to gain? They should be out working instead of sitting in the rain. Or perhaps getting together and trying to figure out a way to fix the problem instead of just standing around.
Obama tried to regulate the banks but the Republicans shot down the bill.
He had to bail out the auto companies, otherwise GM and Chrysler would now be gone. Imagine those two companies gone, what that would have done to the economy.
As for the bankers they had the Republicans in their back pocket and that is why they shot down Obama's bill which would have regulated all of these charges. Now the banks can do what they want and we are at their mercy.
The people need to truly read and understand what the law makers are saying and how they vote and act.
Not voting on looks or because my dad always voted Democrat or because he is pro-life. One needs to look at ALL the issues and how they affect our daily lives.
I have a friend who did not vote for Obama because he is pro-choice.
Well no president has changed the law on that in 38 years.
What will happen, I don't think anyone knows. Lets just hope that for once we as a nation can put aside or petty differences and do what is best for most, no one can do best for all but for most we need to try and try harder. What are we leaving for our children?
We will all be moving in with them because we can't afford to live on SS. That in itself should be motivation enough to do something.

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!!

[Bonny]

I agree. What can they hope to gain? They should be out working instead of sitting in the rain. Or perhaps getting together and trying to figure out a way to fix the problem instead of just standing around.
Obama tried to regulate the banks but the Republicans shot down the bill.
He had to bail out the auto companies, otherwise GM and Chrysler would now be gone. Imagine those two companies gone, what that would have done to the economy.
As for the bankers they had the Republicans in their back pocket and that is why they shot down Obama's bill which would have regulated all of these charges. Now the banks can do what they want and we are at their mercy.
The people need to truly read and understand what the law makers are saying and how they vote and act.
Not voting on looks or because my dad always voted Democrat or because he is pro-life. One needs to look at ALL the issues and how they affect our daily lives.
I have a friend who did not vote for Obama because he is pro-choice.
Well no president has changed the law on that in 38 years.
What will happen, I don't think anyone knows. Lets just hope that for once we as a nation can put aside or petty differences and do what is best for most, no one can do best for all but for most we need to try and try harder. What are we leaving for our children?
We will all be moving in with them because we can't afford to live on SS. That in itself should be motivation enough to do something.

With all that said it would be really nice if EVERYONE could have a good paying job they really liked where they are treated fairly, with health benefits, a retirement plan, a modest affordable house to live in, 3 squares a day & a little cash left over to help keep the economy going. That isn't asking to much is it?

[wombat2u2004]

With all that said it would be really nice if EVERYONE could have a good paying job they really liked where they are treated fairly, with health benefits, a retirement plan, a modest affordable house to live in, 3 squares a day & a little cash left over to help keep the economy going. That isn't asking to much is it?

Good idea.
But I need a private beach, can I have one of those to ???

[Marigold2]

Sometimes a job is just a way to pay the rent or buy food and sometimes that blessings is enough.
Doesn't mean a better job won't come along next year or two years from now but at least one can play the gas bill this month.

Good idea.
But I need a private beach, can I have one of those to ???

[Karen]

What can they hope to gain? They should be out working instead of sitting in the rain.

A lot of people currently have no job, and that is why some of them are protesting. I am sure they would rather be working. They all seem to have different reasons for being there, but that's a common one.

[Bonny]

Good idea.
But I need a private beach, can I have one of those to ???

Hows about a neighborhood swimming hole with a rope swing? Just like the good old days back in O2.

[wombat2u2004]

Hows about a neighborhood swimming hole with a rope swing? Just like the good old days back in O2.

I've already got one of those, but I want more....MORE !!!!!