News Occupy Wall Street protest in New-York

[turbo]

Good, it's about time. High frequency traders do nothing for the economy and are parasites.

High-frequency trades are destabilizing and do nothing (IMO) to help our economy. I would support a stiff tax on trades that would moderate over the years. The longer you hold the investments, the lower the trade tax.

I don't see this movement gaining too much steam, because the Chamber of Commerce and their proxies are going to stomp it into the ground. Still, we need the stability.

 

[WhoWee]

The Occupiers in Dallas are certainly focused on their cause - glad they don't discriminate against bad behavior.
http://www.foxnews.com/us/2011/11/0...r-allegedly-sexually-assaulting-teen-in-tent/

"Authorities arrested a convicted sex offender at an Occupy Dallas rally for allegedly sexually assaulting a 14-year-old runaway in his tent,"

*****

http://abcnews.go.com/Business/video/security-questioned-at-occupy-dallas-protest-14867633

"Security Questioned at Occupy Dallas Protest"

 

[OmCheeto]

Aside from the integrity/motivation of an individual - I'd like to know from US citizens who they trust more Wall Street (regulated by SEC) or some other stock exchange regulated by another company and a broker not regulated by the SEC?

Perhaps I'm misunderstanding your question.
I interpret it as asking a person to make a choice between buying a car with one flat tire, or one with two flat tires?

 

[WhoWee]

Perhaps I'm misunderstanding your question.
I interpret it as asking a person to make a choice between buying a car with one flat tire, or one with two flat tires?

No it's like asking someone in a border state who they would trust more - a US car dealer or a Mexican car dealer?

 

[OmCheeto]

No it's like asking someone in a border state who they would trust more - a US car dealer or a Mexican car dealer?

Probably the wrong analogy to use on me. The first time I could afford a new car, I was 19 years old. I went to the dealer and they tried to scam me. The next time I went to buy a new car, I was 50, and it was a Saturday. I had all day long to say no. Got a pretty good deal.

hmmm... Maybe the car dealership is a good analogy for Wall Street.

Would you rather get scammed by an American, or a Mexican?

Ummm... Neither maybe?

 

[WhoWee]

Probably the wrong analogy to use on me. The first time I could afford a new car, I was 19 years old. I went to the dealer and they tried to scam me. The next time I went to buy a new car, I was 50, and it was a Saturday. I had all day long to say no. Got a pretty good deal.

hmmm... Maybe the car dealership is a good analogy for Wall Street.

Would you rather get scammed by an American, or a Mexican?

Ummm... Neither maybe?

I'm very serious in asking this question.

If all you're doing is placing an order for shares of a company listed on the NYSE - I'm not sure how you might be scammed? It's unlikely your broker would risk his license for a few thousand dollars.

On the other hand - would you have more confidence sending your money to a broker based in Istanbul, Ljubljana or Lahore - and making trades on those exchanges and under their financial accounting standards?

 

[Char. Limit]

The Occupiers in Dallas are certainly focused on their cause - glad they don't discriminate against bad behavior.
http://www.foxnews.com/us/2011/11/0...r-allegedly-sexually-assaulting-teen-in-tent/

"Authorities arrested a convicted sex offender at an Occupy Dallas rally for allegedly sexually assaulting a 14-year-old runaway in his tent,"

*****

http://abcnews.go.com/Business/video/security-questioned-at-occupy-dallas-protest-14867633

"Security Questioned at Occupy Dallas Protest"

So one bad apple spoils the bunch for you? Got it.

 

[OmCheeto]

I'm very serious in asking this question.

If all you're doing is placing an order for shares of a company listed on the NYSE - I'm not sure how you might be scammed? It's unlikely your broker would risk his license for a few thousand dollars.

On the other hand - would you have more confidence sending your money to a broker based in Istanbul, Ljubljana or Lahore - and making trades on those exchanges and under their financial accounting standards?

This is probably why no one answered your initial question.

I invest $100 a month. I suppose a few people on PF can afford to invest a thousand or more a month. But I have not a clue how to make a trade in Ljubljana.

 

[Evo]

I thought this was funny.

NYC arrest records: Many Occupy Wall Street protesters live in luxury

The Daily Caller has obtained all of this information from a source in the New York City government.

Among addresses for which information is available, single-family homes listed on those police intake forms have a median value of $305,000 — a far higher number than the $185,400 median value of owner-occupied housing units in the United States.

Some of the homes where “Occupy” arrestees reside, viewed through Google Maps and the Multiple Listing Service real estate database, are the definition of opulence.

Using county assessors and online resources such as Zillow.com, TheDC estimated property values and rents for 87 percent of the homes and 59 percent of the apartments listed in the arrest records.

Even in the nation’s currently depressed housing market, at least 95 of the protesters’ residences are worth approximately $500,000 or more. (RELATED SLIDESHOW: Opulent homes of the ’99 percent’)

The median monthly rent for those living in apartments whose information is readily available is $1,850

“Sleeping beside the hardcore activists are increasing numbers of wealthy students turning up to make the most of the party atmosphere, drugs and free food,” reporters Paul Bentley and Micela McLucas wrote in October. “While they dress down to blend in, the youngsters’ privileged backgrounds are revealed by glimpses of expensive gadgetry or the absent minded mention of their private schools during heated political debates.”

http://news.yahoo.com/nyc-arrest-records-many-occupy-wall-street-protesters-045625415.html

 

[Char. Limit]

I support these people. Am I one of the 1%? Hell if I know, but I live in a really nice house. It's got two stories. And whenever I need something, I usually get it.

 

[Evo]

I support these people. Am I one of the 1%? Hell if I know, but I live in a really nice house. It's got two stories. And whenever I need something, I usually get it.

But they don't have a cause yet. Didn't someone just post where an organizer said that they haven't had enough time yet to decide what (specifically) they're protesting?

Maybe I'll support them if they can come up with something I feel is important. Are they for increasing Soc Security payments? I'm for that.

My dad was an EE, but he was almost completely blind from the war and was lucky to get a job. He couldn't get life insurance due to pre-exisiting problems with his heart. My mom lives off of his Social Security benefits, has medicare, which sux. He died when he was 53 so he never collected, he was considered 100% disabled, but he refused to stop working, had a massive stroke at work.

 

[OmCheeto]

ATTN Occupiers of Wall Street - the Democrats in Congress have heard you and have introduced legislation (I guess you can go home now?).

Actually, that legislation has been fronted for the last 3 years.

I've discussed the legislation with fellow investors over the last year.

They said there was no chance.

Go OWS! Go!

 

[WhoWee]

So one bad apple spoils the bunch for you? Got it.

This is the second alleged rape incident - the first was in Cleveland.

 

[WhoWee]

This is probably why no one answered your initial question.

I invest $100 a month. I suppose a few people on PF can afford to invest a thousand or more a month. But I have not a clue how to make a trade in Ljubljana.

http://translate.google.com/translate?hl=en&sl=sl&tl=en&u=http://www.ljse.si/

 

[WhoWee]

I forgot to ask - where's the outrage over the Freddie and Fannie bonuses reported this week?

http://www.newsmax.com/US/Fannie-Freddie-bonuses-millions/2011/11/01/id/416429

"What’s the benefit for taking over troubled mortgage agencies after the government bails them out? Millions of dollars in bonuses, apparently.

The Federal Housing Finance Agency, the government regulator of Fannie Mae and Freddie Mac, approved $12.79 million of bonuses for 10 executives from the two government-sponsored agencies after they met modest performance targets tied to modifying mortgages at risk of foreclosure, Politico reports.

Given that there have been very few modifications, critics can be forgiven for questioning why the generous bonuses were doled out. They come only two years after the agencies received $170 billion in taxpayer aid. The housing finance agency pledged at that time that it would curb executive pay after the humongous compensation offered to former Fannie Mae CEO Franklin Raines and others.

Ed Haldeman, who announced last week that he is quitting as Freddie Mac’s CEO, received a base salary of $900,000 last year — and garnered a $2.3 million bonus. Fannie Mae CEO Michael Williams received a $2.37 million bonus.

The top five executives at Freddie bagged $6.46 million in bonuses last year, and a second installment has yet to be reported to the Securities and Exchange Commission.

Williams and the four other top officials at Fannie snagged $6.33 million in bonuses, primarily for providing “liquidity, stability and affordability” to the national market. That’s not exactly setting the bar high. "

 

[edward]

I thought this was funny.

NYC arrest records: Many Occupy Wall Street protesters live in luxury

The Daily Caller has obtained all of this information from a source in the New York City government.

Among addresses for which information is available, single-family homes listed on those police intake forms have a median value of $305,000 — a far higher number than the $185,400 median value of owner-occupied housing units in the United States.

http://news.yahoo.com/nyc-arrest-records-many-occupy-wall-street-protesters-045625415.html

A $305,000 house in NYC is certainly not luxury accommodations. If they are recent college grads they are most likely living with their parents as 65% of them do.

Port of Oakland video



Angela Davis was there ?? They should have tossed her off of the dock.

 

[mege]

A $305,000 house in NYC is certainly not luxury accommodations. If they are recent college grads they are most likely living with their parents as 65% of them do.

Port of Oakland video



Angela Davis was there ?? They should have tossed her off of the dock.

Even still, if they're students living with their parents in a house that costs twice the median for the area - they're not suffering like they're trying to portray. This just reinforces the whiney, spoiled kid stereotype. And if it's their own house - I wonder how they're able to afford it? Either way, it smells of hypocrasy.

 

[turbo]

But they don't have a cause yet. Didn't someone just post where an organizer said that they haven't had enough time yet to decide what (specifically) they're protesting?

The "lack" of a cause is something pushed by the right-wing and their media stooges. I think that we all have a pretty good idea what Wall Street has done to this country over the past few decades. The right would love to make OWS condense these problems into a few sound-bites, so that they could use their media stooges to excoriate the protesters and demean them and their motivations.

We have overwhelming systemic corruption in big business and government and the media. When any proposal that might benefit the populace is decried as "socialism" and any proposal that might benefit the wealthy is elevated as "free-market capitalism" (corporate-welfare, anybody?), we have some serious disconnects in perception and language. George Orwell was prescient, and would have been shocked (IMO) to see how thoroughly doublethink has pervaded the US political "discourse".

 

[turbo]

Even still, if they're students living with their parents in a house that costs twice the median for the area - they're not suffering like they're trying to portray. This just reinforces the whiney, spoiled kid stereotype. And if it's their own house - I wonder how they're able to afford it? Either way, it smells of hypocrasy.

Do you think that anybody who recognizes the wrong-doing of investment firms and banks should be barred from expressing that just because they live in a nice house? Think it over.

 

[mege]

The "lack" of a cause is something pushed by the right-wing and their media stooges. I think that we all have a pretty good idea what Wall Street has done to this country over the past few decades. The right would love to make OWS condense these problems into a few sound-bites, so that they could use their media stooges to excoriate the protesters and demean them and their motivations.

We have overwhelming systemic corruption in big business and government and the media. When any proposal that might benefit the populace is decried as "socialism" and any proposal that might benefit the wealthy is elevated as "free-market capitalism" (corporate-welfare, anybody?), we have some serious disconnects in perception and language. George Orwell was prescient, and would have been shocked (IMO) to see how thoroughly doublethink has pervaded the US political "discourse".

So, what action does the OWS crowd want taken?

I think a blind man can see that the protestors are angry, but at what or whom? There's a disconnect in the static-filled message. The protestors go to homes of 'evil wall streetists' - and visit Murdoch and a Koch? (what do either of these industrialists have to do with the banking system and wall street?) Then, at the same time, one of the major financiers for this leftist orgy is George Soros - a banker that enjoys crashing economies and does so for spite. (many Soros Foundation-funded organizations are spearheading the on the ground causes - even if you want to argue his foundation's involvement, it's funny how he's never brought up in protests because of his leftist bent when his past fiscal actions have been very purposefully irresponsible - UK in the early 90s?) Never mind that these protests are being babied by the local governments - these protestors are often breaking posted laws and regulations, but are getting away with it. Talk about lawless - another drop in the hypocrasy bucket.

The ultimate irony (if that effigy confusion wasn't enough) is that these protestors generally would like to see MORE government intervention. Funny how the politicians, which are half of this crony-capitalist equation, are getting away free and are being trusted/encouraged to continue to do something. How is that reasonable or logical? I'm not trying to defend crony capitalism at all, but I think the effective solution is to actually allow capitalism to run it's course. Many of the sparks for this economic downturn have been because the government has interveened too much for some short-term political bender. The money-loose government is the real culprit in these problems, but the general vibe I get is that OWS protestors ignore this fact and are acting on their raw jealousy. Given that contradiction in purpose, there's no wonder the OWS collective hasn't come up with a solution. They seem to want to just bleed the rich for a temporary utopia. Ask Europe how well that's working (now imagine if Europe also had other expenses... like militaries or funding the UN...).

So, I ask again - what does OWS want to happen? What is the end game?

 

[mege]

Do you think that anybody who recognizes the wrong-doing of investment firms and banks should be barred from expressing that just because they live in a nice house? Think it over.

I don't think they should be barred from expressing themselves at all, and I never implied that. The protestors have every right to speak their mind, but I do feel that the extreme lawlessness and forceful nature is very bad. 3000 arrests to date: imagine if the cities were actually enforcing their laws?

It's hypocrasy and it diminishes their message significantly.

 

[chiro]

So, I ask again - what does OWS want to happen? What is the end game?

I think you are implying what I am about to say anyway, but the thing is there is no universal consensus on what should and needs to be done.

One problem with this is that it has the potential to be hijacked by someone who actually has something specific in mind, and that someone or group could be anybody with any agenda that actually helps solve the problem, or side steps the problem.

Also you have a lot of different people down there. They are not all part of one easily classifiable group. This is good because when those people interact with one another (and they have been), then people are talking about the issues and becoming more informed on issues to consider and tackle.

In all honesty I think it is wise not to make any major specific demands right away and I say that because the problem itself is extremely complex and it has roots in many places, not just in the banks themselves, but also in the legislation and in the government.

Another thing that I want to say is that I think it is also a problem with values of society as a whole and not just the banks, rating agencies, government or some specific entity. The thing is that we live in a world of debt and convenience and it is convenient to be in debt.

It reminds when Peter Schiff went down there and someone asked him why Steve Jobs didn't hire Americans to make the products. He then asked them if they would pay a higher price for the products. This is a good example of what I was getting at above. The thing is that some of these people who are protesting in my mind at least would be willing to change their ways even if they are shown that these ways are the ones that are supporting the system to begin with.

So yes this is a very big problem and it has many facets that need to be considered and for that reason I deem it wise to think about the problem more seriously before coming to conclusions too quickly so that hopefully we end up with the restructuring that will get to the root of the problem and not just apply a bandaid to it.

 

[mege]

I think you are implying what I am about to say anyway, but the thing is there is no universal consensus on what should and needs to be done.

One problem with this is that it has the potential to be hijacked by someone who actually has something specific in mind, and that someone or group could be anybody with any agenda that actually helps solve the problem, or side steps the problem.

Also you have a lot of different people down there. They are not all part of one easily classifiable group. This is good because when those people interact with one another (and they have been), then people are talking about the issues and becoming more informed on issues to consider and tackle.

In all honesty I think it is wise not to make any major specific demands right away and I say that because the problem itself is extremely complex and it has roots in many places, not just in the banks themselves, but also in the legislation and in the government.

Another thing that I want to say is that I think it is also a problem with values of society as a whole and not just the banks, rating agencies, government or some specific entity. The thing is that we live in a world of debt and convenience and it is convenient to be in debt.

It reminds when Peter Schiff went down there and someone asked him why Steve Jobs didn't hire Americans to make the products. He then asked them if they would pay a higher price for the products. This is a good example of what I was getting at above. The thing is that some of these people who are protesting in my mind at least would be willing to change their ways even if they are shown that these ways are the ones that are supporting the system to begin with.

So yes this is a very big problem and it has many facets that need to be considered and for that reason I deem it wise to think about the problem more seriously before coming to conclusions too quickly so that hopefully we end up with the restructuring that will get to the root of the problem and not just apply a bandaid to it.

If any of these pristine groups hijacked OWS, I think we'd all be in a bit of trouble.

I've also heard this said before in different ways: "Also you have a lot of different people down there. They are not all part of one easily classifiable group." Even if not the 'official' goal - what is the end game to the random protestor? What does the random protestor really want? I think that if the government did NOT 'bailout' GM and the banks - there would still be a protest. "Why did the government let these companies fail! Their collapse hurt lots of people!" People are just in general discontented and emotional. Emotions do not make good policy.

Without a goal in mind, the general discontent can only last for so long. Why are there people in Oakland, CA shutting down a shipping hub? What is that going to accomplish? What is the point of 'occupying' an area? To gain recognition for what? Making Scrooge McDuck the villian? As it stands - that is the only message which is clear: bleed the rich. It's not even about Wall Street really, except in the name. It's about petty jealousy. If the movement was really about being anti-crony capitalism: then I think they'd have different targets than Koch, Fox News and DuPont. Instead, the extremely violent rhetoric by the protests has given new life to a variety of radical fringe groups (see link above) that just want to shake up the system - and if those groups are the ones doing the shaking, I'm legitimately scared.

Finally, I think the greater problem is that there is no real good solution to the problem that fits the mold. The 'fake manifesto' that was on OWS's site in a comment a few weeks ago sums it all up - this is a leftist anti-liberal wave veiled by the term '99%'. The document talked about limiting liberties in every line to solve some perceived and limited ill. Is this what OWS is about? Controlling the population? This is the type of contradiction that is rampant in the entire movement. "We the 99%" are going to force you to give up your money. Sad thing is: that statement wouldn't even make many protestors flinch for a second. "We the 99% demand the end to liberty" - this is what I hear instead of any proper message about ending crony-capitalism.

 

[chiro]

If any of these pristine groups hijacked OWS, I think we'd all be in a bit of trouble.

I've also heard this said before in different ways: "Also you have a lot of different people down there. They are not all part of one easily classifiable group." Even if not the 'official' goal - what is the end game to the random protestor? What does the random protestor really want? I think that if the government did NOT 'bailout' GM and the banks - there would still be a protest. "Why did the government let these companies fail! Their collapse hurt lots of people!" People are just in general discontented and emotional. Emotions do not make good policy.

Without a goal in mind, the general discontent can only last for so long. Why are there people in Oakland, CA shutting down a shipping hub? What is that going to accomplish? What is the point of 'occupying' an area? To gain recognition for what? Making Scrooge McDuck the villian? As it stands - that is the only message which is clear: bleed the rich. It's not even about Wall Street really, except in the name. It's about petty jealousy. If the movement was really about being anti-crony capitalism: then I think they'd have different targets than Koch, Fox News and DuPont. Instead, the extremely violent rhetoric by the protests has given new life to a variety of radical fringe groups (see link above) that just want to shake up the system - and if those groups are the ones doing the shaking, I'm legitimately scared.

Finally, I think the greater problem is that there is no real good solution to the problem that fits the mold. The 'fake manifesto' that was on OWS's site in a comment a few weeks ago sums it all up - this is a leftist anti-liberal wave veiled by the term '99%'. The document talked about limiting liberties in every line to solve some perceived and limited ill. Is this what OWS is about? Controlling the population? This is the type of contradiction that is rampant in the entire movement. "We the 99%" are going to force you to give up your money. Sad thing is: that statement wouldn't even make many protestors flinch for a second. "We the 99% demand the end to liberty" - this is what I hear instead of any proper message about ending crony-capitalism.

Yeah I have seen a lot of what you are saying in videos, but again fortunately there are people there who are asking serious questions.

But yeah absolutely agree that when you have a cause that is divided as this, it is just ripe for a takeover. The one thing that makes causes effective is when the cause is streamlined and everyone is behind it (and also in sync with the group).

It's the same reason militaries work so well: everyone follows order and everyone has the same cause. It's also the same reason any major successful group be it a business or otherwise can be so effective: everyone is committed to the same cause and when this happens literally "stuff" (replace it with whatever word you want) "gets done".

As long as their is division or indecisiveness of any sort, then "stuff" won't get done.

Also one of the other things that worries me, is that many people actually want a "leader" to come in and save them because let's face it: most of us want problems to automatically go away. We don't want to take any more responsibility than we need to, and we have become addicted to this way of life. We don't want to stick our necks out and we don't want to feel the pain that associated with that responsibility.

As long as this will go on, we will probably always run into trouble, and we all have a chance to do it, but chances are we won't.

 

[LaurieAG]

In all honesty I think it is wise not to make any major specific demands right away and I say that because the problem itself is extremely complex and it has roots in many places, not just in the banks themselves, but also in the legislation and in the government.

When usury and financial slavery are considered acceptable modus operandi then there's not much to say anyway. At least the Icelandic people got a vote and the Greeks will get a vote to change their national anthem to to the following.

All Hail thrall

Politicians ruled by economics at work, all hail thrall.
Elites who turn their peasants into serfs, all hail thrall.
Tyrannus rex is just autocrat king, all hail thrall.

 

[Char. Limit]

This is the second alleged rape incident - the first was in Cleveland.

Two bad apples then. How many protesters have there been across the country? I'm betting it's a number big enough to make TWO seem pretty insignificant and unrepresentative of the sample as a whole. So please, stop trying to insinuate that the OWS protesters are rapists.

 

[chiro]

Two bad apples then. How many protesters have there been across the country? I'm betting it's a number big enough to make TWO seem pretty insignificant and unrepresentative of the sample as a whole. So please, stop trying to insinuate that the OWS protesters are rapists.

WhoWee does Char. Limit have any validity to these claims?

 

[Char. Limit]

WhoWee does Char. Limit have any validity to these claims?

Oh dear god... what claims have I made? The only thing I've done here is rebut his insinuations that - you know what, never mind. Believe what you want, I'm leaving.

Unsubscribed.

 

[chiro]

Oh dear god... what claims have I made? The only thing I've done here is rebut his insinuations that - you know what, never mind. Believe what you want, I'm leaving.

Unsubscribed.

Ok Dokey.

 

[Oltz]

Oh dear god... what claims have I made? The only thing I've done here is rebut his insinuations that - you know what, never mind. Believe what you want, I'm leaving.

Unsubscribed.

I could be worng here but if 2 rapes took place in a 2 month span at Tea party events even tho there have litterally been thousdands you and the media would be freaking out. Making far worse insinuations and claims.

I believe WhoWee was more commenting on the lack of even a condemnation of the act let alone a media uproar.