How do you feel about Occupy Wall Street?

[^_^ 5,021]

No, the guy I play with has paid the dealer to stack the deck against me without my knowledge or involvement.

What we need is some sort of liability on the guys that rate. If you rate junk AAA, there's got to be some liability attached to that. And the guy needing something rated should not be the guy paying the guy that does the rating - at least not directly. Naturally, the way it's set up, they'll take their business where they get the best rating and that's a bad incentive if the ratings are going to be good for anything.

You're right.

[Mr. Big Dog 10,747]

No second chance, really now?

Home Affordable Modification Program? Home Affordable Refinance Program? Home Affordable Foreclosure Alternatives? Second Lien Modification Program?

All a bunch of ####### that merely delays the inevitable for a few folks. To qualify for any of this, you ought to be so fcuked up already that this merely keeps you floating a little longer. The housing market won't recover for years and millions of people are stuck in their homes. Historic low mortgage rates? So what? If you're underwater as millions of people are - think it's 11 million mortgages that are underwater, you're still paying whatever your rate is. This economy isn't going anywhere as long as the housing market is in distress. There are ways of dealing with that but it isn't happening. The window-dressing that you referred to isn't even going to make a minor dent.

To fix the economy, first fix the housing market

[mawilson 2,133]

Greenspan had it right when he said the cheapest way to fix the housing market is for the government to buy a lot of vacant homes and burn them.

[one...two...tree 2,762]

All a bunch of ####### that merely delays the inevitable for a few folks. To qualify for any of this, you ought to be so fcuked up already that this merely keeps you floating a little longer. The housing market won't recover for years and millions of people are stuck in their homes. Historic low mortgage rates? So what? If you're underwater as millions of people are - think it's 11 million mortgages that are underwater, you're still paying whatever your rate is. This economy isn't going anywhere as long as the housing market is in distress. There are ways of dealing with that but it isn't happening. The window-dressing that you referred to isn't even going to make a minor dent.

To fix the economy, first fix the housing market

Thank you, Ayn Randian fanbois.

[Usui Takumi 1,562]

No second chance, really now?

Home Affordable Modification Program? Home Affordable Refinance Program? Home Affordable Foreclosure Alternatives? Second Lien Modification Program?

Elitism means having brains, apparently.

What percentage became eligible?

[mawilson 2,133]

What percentage became eligible?

What percentage of banks got rescued?

Failed Bank List

Edited October 13, 2011 by mawilson

[Usui Takumi 1,562]

What percentage of banks got rescued?

Failed Bank List

Yeah, I think it reinforces the point about wealth accumulation. Where great wealth accumulates towards single individuals and companies, the risk to the nation becomes greater. As a result, the nation's government is more likely to intervene on behalf of that wealth - give them a second a chance. Therefore, as you acquire more and more wealth, the government because more valuable to you in case of financial mistakes. The perfect example of why progressive taxes makes sense.

[sara..... 371]

I dont know about the one on wall street but the one in portland gave a lot of free advertisement to the big corporations that they seem to be protesting about......cell phones.....shoes........jackets.........tents and so on all things the protesters were wearing to protest against big corporations

just my opinion

sara

[mawilson 2,133]

Yeah, I think it reinforces the point about wealth accumulation. Where great wealth accumulates towards single individuals and companies, the risk to the nation becomes greater. As a result, the nation's government is more likely to intervene on behalf of that wealth - give them a second a chance. Therefore, as you acquire more and more wealth, the government because more valuable to you in case of financial mistakes. The perfect example of why progressive taxes makes sense.

Well aren't ya Mr Popular.

[Póg mo 1,749]

Okay right wingers!

I get it. You don't want to see people with student loans get any sort of debt forgiveness. You don't want to see people with under water mortgages restructured, you see no reason why wall street should be in anyway held responsible for anything that has happened to the economy over the past few year. You apparently don't seem to care that the FED is lending trillions of dollars to wall street banks, using money it simply created out of thin air, in order to allow said same banks to plug holes in their balance sheets, because many of their customers are unable to repay money that the banks themselves also created out of thin air in the first place. You don't seem to mind that the FED has been purposely keeping interest rates artificially for years in order to encourage consumption and discourage private savings. You don't mind that the likes of Goldman, City group etc, etc have been gaming the system for years to make themselves rich at the expense of everybody else. You guys don't seem to mind that the very same banks to demanded a bailout from the government, or they would destroy the economy, saw fit to award themselves huge bonuses only months later. You don't seem to care that wall street was able to lobby it cronies in the government to make it so that student loan debt is virtually impossible to discharge in bankruptcy. You don't seem to care that this act created zero incentives on behalf of lenders to actually consider if students were capable of ever earning enough money to repay their debts after they graduate. You don't care that many young people with zero understanding of how financing works are being expected to devote their entire working life paying off debt incurred during during university, whilst the people, many of whom went to university studied economics and who should have know full well what they were doing when they pushed students to take on debts get to walk away with huge cash bonuses. You don't seem to mind that as long the huge debt that the average US citizen is burdened with exists, then there can be no meaningful economic growth for years to come.

So Right wingers my question is, what exactly do you people want?

[Hilarious Clinton 452]

Okay right wingers!

I get it. You don't want to see people with student loans get any sort of debt forgiveness. You don't want to see people with under water mortgages restructured, you see no reason why wall street should be in anyway held responsible for anything that has happened to the economy over the past few year. You apparently don't seem to care that the FED is lending trillions of dollars to wall street banks, using money it simply created out of thin air, in order to allow said same banks to plug holes in their balance sheets, because many of their customers are unable to repay money that the banks themselves also created out of thin air in the first place. You don't seem to mind that the FED has been purposely keeping interest rates artificially for years in order to encourage consumption and discourage private savings. You don't mind that the likes of Goldman, City group etc, etc have been gaming the system for years to make themselves rich at the expense of everybody else. You guys don't seem to mind that the very same banks to demanded a bailout from the government, or they would destroy the economy, saw fit to award themselves huge bonuses only months later. You don't seem to care that wall street was able to lobby it cronies in the government to make it so that student loan debt is virtually impossible to discharge in bankruptcy. You don't seem to care that this act created zero incentives on behalf of lenders to actually consider if students were capable of ever earning enough money to repay their debts after they graduate. You don't care that many young people with zero understanding of how financing works are being expected to devote their entire working life paying off debt incurred during during university, whilst the people, many of whom went to university studied economics and who should have know full well what they were doing when they pushed students to take on debts get to walk away with huge cash bonuses. You don't seem to mind that as long the huge debt that the average US citizen is burdened with exists, then there can be no meaningful economic growth for years to come.

So Right wingers my question is, what exactly do you people want?

debt forgiveness? How about....

1. YOU BORROW MONEY AND YOU PAY IT BACK

2. YOU QUALIFY FOR A LOAN AND HAVE TO SAVE FOR A DOWN PAYMENT

[Póg mo 1,749]

debt forgiveness? How about....

1. YOU BORROW MONEY AND YOU PAY IT BACK

And if you don't have the money nor ever likely ever likely to make enough to even pay the interest, let alone pay down the principle. What then?

2. YOU QUALIFY FOR A LOAN AND HAVE TO SAVE FOR A DOWN PAYMENT

Why aren't you out campaigning with the Occupy wall street crowed then? It may surprise you but many of the people protesting on wall street agree with you. Of course they're also pissed that the same people who profited so greatly during the boom from subprime lending, credit default swaps etc, are the very ones telling Americans that Americans need to cut back on luxuries such as having a place to sleep, food, healthcare and decent schools to send their children. Of course the children are to blame for having parents who foolishly believed that if they could get a good education etc then they might have a shot at a half decent life.

[mawilson 2,133]

So Right wingers my question is, what exactly do you people want?

I want people to take personal responsibility for their actions.

The banks didn't force anyone to take out a loan or buy a house. And no, a place to sleep

is not a luxury, but home ownership is. If you don't qualify for a mortgage, rent.

[Fandango 1,439]

Whatit boils down to, is some people have money, and some don't. And the don'ts are pissed off that the dos won't give em some.

[Mr. Big Dog 10,747]

Whatit boils down to, is some people have money, and some don't. And the don'ts are pissed off that the dos won't give em some.

I don't think that's what this is about. It's about people realizing that this once proud country has descended into a Banana Republic. The middle class has been squeezed for decades now and here we are at a breaking point where the many say to the few: ENOUGH!