Occupy Wall Street
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moreluck
golden ticket member
But gee, Bawney said they were solid!!
What exactly do you want to hear about Fannie and Freddie, and what does Barney Frank have to do with this?
av8torntn
Well-Known Member
I'm not gonna play the game with you because I think you have a weak position but if I were I'd start by saying that if this is the size of the corporations role in the mortgage drama you have an uphill battle to make your case unless you only argue on emotion.
Fri Sep 2, 2011 6:01pm EDT
Sept 2 (Reuters) - The U.S. Federal Housing Finance Agency sued 17financial institutions on Friday, for allegedly misrepresenting materialinformation when selling mortgage-backed securities.
Below is a summary of banks that were sued, and the dollar value ofsecurities that the FHFA is suing over:
BANK DOLLAR VALUE OF SECURITIES
($ BLNS)
Ally Financial $6
Bank of America Corp (BAC.N)
Bank of America $6
Countrywide (unit of Bank of America) $26.6
Merrill Lynch (unit of Bank of America) $24.853
Barclays Plc (BARC.L) $4.9
Citigroup Inc (C.N) $3.5
Credit Suisse (CSGN.VX)* $14.1
Deutsche Bank AG (DBKGn.DE) $14.2
First Horizon National Corp (FHN.N) $0.883
General Electric Co (GE.N) $0.549
Goldman Sachs Group Inc (GS.N) $11.1
HSBC (HSBA.L)* $6.2
JPMorgan Chase & Co (JPM.N) $33
Morgan Stanley (MS.N) $10.58
Nomura Holdings Inc (8604.T)* $2
Royal Bank of Scotland (RBS.L) $30.4
Societe Generale (SOGN.PA) $1.3
TOTAL: $196.165 *Some lawsuits targeted subsidiaries and not the parent company Source: court documents
I'm not sure what you're trying to say.
Babagounj
Strength through joy
Attention, Protestors: You're Probably Part of the 1%
In America, the top 1% earn more than $380,000 per year.
We are, however, among the richest nations on Earth.
How much do you need to earn to be among the top 1% of the world?
$34,000.
That was the finding World Bank economist Branko Milanovic presented in his 2010 book The Haves and the Have-Nots. Going down the distribution ladder may be just as surprising.
To be in the top half of the globe, you need to earn just $1,225 a year.
For the top 20%, it's $5,000 per year.
Enter the top 10% with $12,000 a year.
To be included in the top 0.1% requires an annual income of $70,000.
According to the U.N., "Nearly half the world's population, 2.8 billion people, earn less than $2 a day."
According to the World Bank, 95% of those living in the developing world earn less than $10 a day.
Those numbers are so shocking that you might only think about them in the abstract.
But when you consider them in the context of the entire globe, including yourself, the skewing effects they have on the distribution of income is simply massive.
It means that Americans we consider poor are among some of the world's most well-off.
As Milanovic notes, "the poorest [5%] of Americans are better off than more than two-thirds of the world population." Furthermore, "only about 3 percent of the Indian population have incomes higher than the bottom (the very poorest) U.S. percentile."
Today, of Americans officially designated as 'poor,' 99 percent have electricity, running water, flush toilets, and a refrigerator; 95 percent have a television, 88 percent a telephone, 71 percent a car and 70 percent air conditioning. Cornelius Vanderbilt had none of these.
Nor does much of the world.
In short, most of those protesting in the Occupy Wall Street movement would be considered wealthy -- perhaps extraordinarily wealthy -- by much of the world. Many of those protesting the 1% are, ironically, the 1%.
In America, the top 1% earn more than $380,000 per year.
We are, however, among the richest nations on Earth.
How much do you need to earn to be among the top 1% of the world?
$34,000.
That was the finding World Bank economist Branko Milanovic presented in his 2010 book The Haves and the Have-Nots. Going down the distribution ladder may be just as surprising.
To be in the top half of the globe, you need to earn just $1,225 a year.
For the top 20%, it's $5,000 per year.
Enter the top 10% with $12,000 a year.
To be included in the top 0.1% requires an annual income of $70,000.
According to the U.N., "Nearly half the world's population, 2.8 billion people, earn less than $2 a day."
According to the World Bank, 95% of those living in the developing world earn less than $10 a day.
Those numbers are so shocking that you might only think about them in the abstract.
But when you consider them in the context of the entire globe, including yourself, the skewing effects they have on the distribution of income is simply massive.
It means that Americans we consider poor are among some of the world's most well-off.
As Milanovic notes, "the poorest [5%] of Americans are better off than more than two-thirds of the world population." Furthermore, "only about 3 percent of the Indian population have incomes higher than the bottom (the very poorest) U.S. percentile."
Today, of Americans officially designated as 'poor,' 99 percent have electricity, running water, flush toilets, and a refrigerator; 95 percent have a television, 88 percent a telephone, 71 percent a car and 70 percent air conditioning. Cornelius Vanderbilt had none of these.
Nor does much of the world.
In short, most of those protesting in the Occupy Wall Street movement would be considered wealthy -- perhaps extraordinarily wealthy -- by much of the world. Many of those protesting the 1% are, ironically, the 1%.
av8torntn
Well-Known Member
The governments position currently is that there was about 200 billion dollars worth of fraud in the mortgage securities trade from private companies. The government is responsible for trillions of dollars worth of fraud in mortgage securities just by keeping interest rates artificially low to signal investment. Add to that the thousands of regulations governments have imposed on lenders to force loans and it's not even possible to make an hones case that some private individuals caused the mortgage problem. The entire thing comes down on the back of the government that so many sheeple are claiming should now fix things.
tourists24
Well-Known Member
Around here the Occupy group is fighting off the homeless people who are there to simply get some free food. They dont seem to want to spread their own wealth around.
island1fox
Well-Known Member
Jones,
If you do not mind facts getting in the way it is very easy to Google Acorn vs Citybank based on the CRA to get the Bank to make more minority loans. I believe it was July of 1994. Was one of the Attorneys Obama and the law firm he worked for ???
Just as people are unfairly called racist today Citybank did not have enough minority loans --from here with the full support of De-regulation under Clinton Fannie and Freddie were set free to run wild. Citybank settled -saw the threat of being branded racist and the sub-prime loans were a reality that turned into our nightmare.
Of course all politicians Democrat and Republican wanted to "brag" about and take credit for more American's living in homes. Do not let the facts get in your way on how this began. FDR --Fanny M--Carter --CRA-- Clinton -Glass Steigel deregulation--Acorn/Obama community organizer /Attorney --Bank Lawsuit ----now you can put the rest of the blame on Lack of personal accountability and Wall Street.
klein
Für Meno :)
Dear Wall Street occupiers: Hundreds of letters, parcels bring encouragement - and cookies
Cristian Salazar, The Associated Press, On Monday October 31, 2011, 3:10 pm EDT
By Cristian Salazar, The Associated Press
NEW YORK, N.Y. - Supporters from around the country and abroad are sending as many as 100 letters a day — sometimes with money, weather gear or packages of cookies —to the Occupy Wall Street protesters, reaching them through a UPS branch near their Zuccotti Park encampment.
"Please accept these humble donations," wrote one sender who did not disclose a name. "I am poor and am fighting foreclosure, but if you are willing to occupy and keep this message alive, I will support you."
Cristian Salazar, The Associated Press, On Monday October 31, 2011, 3:10 pm EDT
By Cristian Salazar, The Associated Press
NEW YORK, N.Y. - Supporters from around the country and abroad are sending as many as 100 letters a day — sometimes with money, weather gear or packages of cookies —to the Occupy Wall Street protesters, reaching them through a UPS branch near their Zuccotti Park encampment.
"Please accept these humble donations," wrote one sender who did not disclose a name. "I am poor and am fighting foreclosure, but if you are willing to occupy and keep this message alive, I will support you."
Island,
it certainly would be nice to hear some facts rather than just rhetoric. Perhaps you could provide some links and evidence to back up your narrative?
Catatonic
Nine Lives
Maybe we could change their name to one of those 1 percenters they hate so much-
The Michael Moorons
Great article by John Atcheson:
As week seven of Occupy Wall Street dawns, much of the media and the establishment continue to act as if everything about the protests were an ineffable mystery.
Well, it’s really not that mysterious. To paraphrase James Carville yet again, it’s the 1% Doctrine, Stupid.
When 75% of the people support raising taxes on the rich, but their elected “representatives” won’t represent them, what else can people do, but take their grievances to the streets? And this is no isolated case: on issue after issue, elected "representatives" are ignoring the people’s wishes, choosing to represent the ultra-rich and corporations instead.
When government gives banks and Wall Street some $12.8 trillion of the taxpayer’s hard-earned money in direct funds, guarantees and near zero interest loans, and the fat cats turn around and spend it on bonuses and high-risk investments rather than fixing the real economy for the 99% who have been affected, don’t ask why people are angry. Especially when not a single bankster or speculator has been busted for a plethora of real crimes, while people lose their homes to improperly documented foreclosures.
When the one-percenters and their bought-and-paid-for government pass a faux financial reform bill that doesn't actually change the way things are done in the Banks’ boardrooms or on Wall Street and people take to the streets, how can that be a mystery?
And yes, that means you, too, Clinton, Obama and the Democratic Party. Your abject collusion with the one-percenters, while spouting populist rhetoric every four years, is in some ways more worthy of disdain than the Republicans’ outright embrace of the 1% Doctrine.
When the Supreme Court is dominated by corporatists and makes corporate- friendly rulings like Citizens’ United, assuring that government can be bought by the highest bidder, it should come as no great mystery when people take to the streets.
When the press becomes a wholly-owned subsidiary of corporate America, replacing truth, facts, and accuracy with “balance” and leaving reality on the cutting room floor, don’t act mystified when the people stop swallowing corporate propaganda, and seek truth on their own.
And when, since Reagan, one-percenters have been taking all of the wealth gained from increased productivity and stuffing it into their own pockets, while stiffing workers, it should come as no great mystery when the people catch on and take to the streets.
Without a sense that government can do anything to right these gross crimes against the citizenry – indeed, when government is saddled with policies, laws, budgets and elected corporate lackeys guaranteeing it can’t address them – where else could the people turn but to the streets?
And to those who knock government as intrinsically incompetent and inept, remember, it has been made so by design since the 80’s. For more than three decades prior to that, we had sustained and widely shared prosperity thanks to regulations and programs passed in the New Deal. For five decades prior, we paid higher taxes and got great value for it. Since Reagan, we’ve been cutting taxes and all we’re getting are wars, debt, inequality and plutocratic pork.
But what do they want, the establishment whines.
The mainstream media, politicians and assorted other pundits are perplexed because the Occupy Movement has not issued a series of demands in bulletized, media-friendly sound bites.
But if you want to understand what’s going on, Mr. Jones, simply look at what they do, and how they operate.
Within the various Occupy camps, they have set up a society that emphasizes inclusion, not exclusion. They pursue the positive and affirmative issues that unite us, rather than the fear and hate-based issues that divide us. They advocate a society in which corporations serve the interests of the people, rather than people serving and being subservient to the interests of corporations.
They are rejecting the politics of us vs. them, and embracing the politics of creating a greater us. They are advocating an economic system that respects environmental realities as well as meeting the rights and welfare of the people.
The Occupy movement recognizes that a society, economy or country is neither great nor successful simply because it amasses the most wealth conceivable. No matter how high the GDP, a system that serves the interests of a scarce few at the expense of the many is a failure. A society that exploits unborn generations and the natural world on behalf of the 1%, is profoundly immoral.
Here’s the deal: for thirty years, under the 1% Doctrine, fat-cats and plutocrats have systematically destroyed peoples' faith in government so they could take over. They’ve succeeded. The result? The US economy now has the same level of income inequality as such third world countries as Uganda and Cameroon, and persistent real unemployment hovering above 20%, and we are stealing any hope of a sustainable future from our children in order to give fat cats yet another bloated bonus.
We – the people, the 99% -- are sick to death, literally, of the failed policies of the 1% Doctrine.
The future – if we are to have one worth living – belongs to us. Step aside, one percenters. The tide of history is rolling in.
As week seven of Occupy Wall Street dawns, much of the media and the establishment continue to act as if everything about the protests were an ineffable mystery.
Well, it’s really not that mysterious. To paraphrase James Carville yet again, it’s the 1% Doctrine, Stupid.
When 75% of the people support raising taxes on the rich, but their elected “representatives” won’t represent them, what else can people do, but take their grievances to the streets? And this is no isolated case: on issue after issue, elected "representatives" are ignoring the people’s wishes, choosing to represent the ultra-rich and corporations instead.
When government gives banks and Wall Street some $12.8 trillion of the taxpayer’s hard-earned money in direct funds, guarantees and near zero interest loans, and the fat cats turn around and spend it on bonuses and high-risk investments rather than fixing the real economy for the 99% who have been affected, don’t ask why people are angry. Especially when not a single bankster or speculator has been busted for a plethora of real crimes, while people lose their homes to improperly documented foreclosures.
When the one-percenters and their bought-and-paid-for government pass a faux financial reform bill that doesn't actually change the way things are done in the Banks’ boardrooms or on Wall Street and people take to the streets, how can that be a mystery?
And yes, that means you, too, Clinton, Obama and the Democratic Party. Your abject collusion with the one-percenters, while spouting populist rhetoric every four years, is in some ways more worthy of disdain than the Republicans’ outright embrace of the 1% Doctrine.
When the Supreme Court is dominated by corporatists and makes corporate- friendly rulings like Citizens’ United, assuring that government can be bought by the highest bidder, it should come as no great mystery when people take to the streets.
When the press becomes a wholly-owned subsidiary of corporate America, replacing truth, facts, and accuracy with “balance” and leaving reality on the cutting room floor, don’t act mystified when the people stop swallowing corporate propaganda, and seek truth on their own.
And when, since Reagan, one-percenters have been taking all of the wealth gained from increased productivity and stuffing it into their own pockets, while stiffing workers, it should come as no great mystery when the people catch on and take to the streets.
Without a sense that government can do anything to right these gross crimes against the citizenry – indeed, when government is saddled with policies, laws, budgets and elected corporate lackeys guaranteeing it can’t address them – where else could the people turn but to the streets?
And to those who knock government as intrinsically incompetent and inept, remember, it has been made so by design since the 80’s. For more than three decades prior to that, we had sustained and widely shared prosperity thanks to regulations and programs passed in the New Deal. For five decades prior, we paid higher taxes and got great value for it. Since Reagan, we’ve been cutting taxes and all we’re getting are wars, debt, inequality and plutocratic pork.
But what do they want, the establishment whines.
The mainstream media, politicians and assorted other pundits are perplexed because the Occupy Movement has not issued a series of demands in bulletized, media-friendly sound bites.
But if you want to understand what’s going on, Mr. Jones, simply look at what they do, and how they operate.
Within the various Occupy camps, they have set up a society that emphasizes inclusion, not exclusion. They pursue the positive and affirmative issues that unite us, rather than the fear and hate-based issues that divide us. They advocate a society in which corporations serve the interests of the people, rather than people serving and being subservient to the interests of corporations.
They are rejecting the politics of us vs. them, and embracing the politics of creating a greater us. They are advocating an economic system that respects environmental realities as well as meeting the rights and welfare of the people.
The Occupy movement recognizes that a society, economy or country is neither great nor successful simply because it amasses the most wealth conceivable. No matter how high the GDP, a system that serves the interests of a scarce few at the expense of the many is a failure. A society that exploits unborn generations and the natural world on behalf of the 1%, is profoundly immoral.
Here’s the deal: for thirty years, under the 1% Doctrine, fat-cats and plutocrats have systematically destroyed peoples' faith in government so they could take over. They’ve succeeded. The result? The US economy now has the same level of income inequality as such third world countries as Uganda and Cameroon, and persistent real unemployment hovering above 20%, and we are stealing any hope of a sustainable future from our children in order to give fat cats yet another bloated bonus.
We – the people, the 99% -- are sick to death, literally, of the failed policies of the 1% Doctrine.
The future – if we are to have one worth living – belongs to us. Step aside, one percenters. The tide of history is rolling in.
iruhnman630
Well-Known Member
The same messages can be sent without the shantytowns taking over and trashing public spaces.
wkmac
Well-Known Member
wkmac
Well-Known Member
Babagounj
Strength through joy
Occupy Baltimore Rape Victim Begs For Protest To Be Shut Down
Occupy Portland Protester Describes Where Drug Dealers Are Located Inside Camp
[h=2]Rape, Gropes, and Assaults, Oh My: Mayor Bloomberg, Shut Down Zuccotti Park![/h]
Occupy Portland Protester Describes Where Drug Dealers Are Located Inside Camp
[h=2]Rape, Gropes, and Assaults, Oh My: Mayor Bloomberg, Shut Down Zuccotti Park![/h]
Q: You said a deaf guy was raped?
A: Yeah…
Q: Did the guy, I mean, do these, did that get reported to the police, or did that stay inside the camp?
A: Well, OK, I’m not sure for that particular incident. Yeah, no I–that might have stayed inside the camp.
[h=2]#OccupyOttawa Covering Up Sexual Assault, Violence[/h] by Publius
Seem that the only single message these camps have in common is the fact that they allow criminals to run amok.
A: Yeah…
Q: Did the guy, I mean, do these, did that get reported to the police, or did that stay inside the camp?
A: Well, OK, I’m not sure for that particular incident. Yeah, no I–that might have stayed inside the camp.
[h=2]#OccupyOttawa Covering Up Sexual Assault, Violence[/h] by Publius
Seem that the only single message these camps have in common is the fact that they allow criminals to run amok.
island1fox
Well-Known Member
Jones,
You have asked many questions in many different posts. Some people may believe that you are not serious about knowing the truth. At this point I will believe that you are sincere and truly would like to do some research on your own--unbiased not right nor left. Not for "political" talking points but because you are a truly an American that would appreciate some facts.
I am not going to link you to Fox News or to MsNBC.
Many people take shots at the NEW YORK TIMES as a Liberal publication. You can decide for yourself but it is definitely not right wing.
Bottom Line: I invested the time and read this book on my Kindle : "Reckless Endangerment" written by NEW YORK TIMES Pulitzer prize winning columnist Gretchen Morgenson along with Joshua Rosner.
They took an UNBIASED approach and did years on research and investigation on how the housing collapse happened. Politicians -left and right are exposed --Wall street companies and Executives are named. If and after you read this you will be OUTRAGED that some of these clowns are not in jail. Including: James Johnson, Franklin Raines, Barney Frank, Chris Dodd, Ken Starr, Robert Rubin and Angelo Mozilo to just name a few.
Also executives from Goldman Sachs, Country wide, Lehman Brothers and AIG.
I cannot force you to read it but I can assure you all of your questions will be answered.
The facts are there --most politicians do not want us to see them --it will change our system of Government that is purchased on all levels and all sides by the Lobbies. All of the people mentioned walked away with Hundreds of millions of the people's money.I for one am tired of trying to protect the Left or Right at any cost .
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