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Old 10-06-2011, 06:10 AM
 
Location: The 12th State
22,974 posts, read 58,637,346 times
Reputation: 14927

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Whats your opinion on this grass root movement who is making the claims in quotes.
Saturday at 3pm Occupy Charlotte will converge at old City Hall then march to BOA at 4
"The banking giant Bank of America has a hard presence in our region, and their frauds and abuses have become a symbol of what is wrong with our economy and our financial system. We plan to pit our peaceful protest and civil disobedience against them."
"Fraudulent derivatives and sub-prime mortgage and predatory interest-rate student loans leave us indebted and homeless."
Occupy Charlotte

Occupy Charlotte plans Bank of America protest - WBTV 3 News, Weather, Sports, and Traffic for Charlotte, NC-

Last edited by SunnyKayak; 10-06-2011 at 03:57 PM..
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Old 10-06-2011, 06:24 AM
 
Location: Concord, NC
1,210 posts, read 1,942,010 times
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Quote:
Originally Posted by SunnyKayak View Post
"Fraudulent derivatives and sub-prime mortgage and predatory interest-rate student loans leave us indebted and homeless."
No thanks. Nobody forced the people with Sub-prime credit to sign the loan docs. Don't like the interest rate on a student loan? Go to a cheaper school or trade school.
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Old 10-06-2011, 06:27 AM
 
Location: Weddington, NC
284 posts, read 531,458 times
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Quote:
Originally Posted by SunnyKayak View Post
Saturday at 3pm Occupy Charlotte will converge at old City Hall then march to BOA at 4
"The banking giant Bank of America has a hard presence in our region, and their frauds and abuses have become a symbol of what is wrong with our economy and our financial system. We plan to pit our peaceful protest and civil disobedience against them."
"Fraudulent derivatives and sub-prime mortgage and predatory interest-rate student loans leave us indebted and homeless."
Occupy Charlotte

Occupy Charlotte plans Bank of America protest - WBTV 3 News, Weather, Sports, and Traffic for Charlotte, NC-
*Sigh*
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Old 10-06-2011, 06:28 AM
 
473 posts, read 865,771 times
Reputation: 730
Didn't BofA buy Countrywide AFTER they had already issued all that subprime crap? It was a stupid investment strategy on their part, but . . .\


Seriously, most cities in this country would LOVE having BofA headquartered there. Charlotte w/o banking is like Greensboro, or worse, Detroit. Enjoy that.
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Old 10-06-2011, 06:33 AM
 
473 posts, read 865,771 times
Reputation: 730
Quote:
Originally Posted by Sepulgeek View Post
No thanks. Nobody forced the people with Sub-prime credit to sign the loan docs. Don't like the interest rate on a student loan? Go to a cheaper school or trade school.
+1. I've rented apartments for the last 10 years because I did the math and the sub-prime credit stuff did not make financial sense to me. Simple as that.

As for student loans, I knew exactly what I was getting into. The interest rates are right there up front, and everyone has the option of doing variable or fixed rate, and calculating the inherent risks in each over time.
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Old 10-06-2011, 06:34 AM
 
Location: Union County
5,789 posts, read 8,440,602 times
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Quote:
Originally Posted by SunnyKayak View Post
Saturday at 3pm Occupy Charlotte will converge at old City Hall then march to BOA at 4
"The banking giant Bank of America has a hard presence in our region, and their frauds and abuses have become a symbol of what is wrong with our economy and our financial system. We plan to pit our peaceful protest and civil disobedience against them."
"Fraudulent derivatives and sub-prime mortgage and predatory interest-rate student loans leave us indebted and homeless."
Occupy Charlotte

Occupy Charlotte plans Bank of America protest - WBTV 3 News, Weather, Sports, and Traffic for Charlotte, NC-
About flippin' time! Good for them.

One problem is that people may confuse these protests as against the employees of BAC, when this is just an extension of the Occupy Wall St movement. Protests like this are happening all of the country now and I applaud these people for trying to be heard peacefully.
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Old 10-06-2011, 06:38 AM
 
3,774 posts, read 7,016,648 times
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Quote:
Originally Posted by Sepulgeek View Post
No thanks. Nobody forced the people with Sub-prime credit to sign the loan docs.
But who packaged them up as AAA rated securities? Who knashed their teeth at the thought of obsene profits earned on the back of the middle and lower class?

There is plenty of blame to go around.
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Old 10-06-2011, 06:41 AM
 
3,774 posts, read 7,016,648 times
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Quote:
Originally Posted by blueheronNC View Post
Charlotte w/o banking is like Greensboro, or worse, Detroit. Enjoy that.
Absurd.

Believe it or not, Charlotte was just fine before BOA, Nations Bank and NCNB. We'll be fine when they're gone.
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Old 10-06-2011, 06:49 AM
 
47 posts, read 62,765 times
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Why would you guys protest BofA? That is ~10,000 jobs for our city...
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Old 10-06-2011, 06:52 AM
 
473 posts, read 865,771 times
Reputation: 730
Quote:
Originally Posted by Native_Son View Post
Absurd.

Believe it or not, Charlotte was just fine before BOA, Nations Bank and NCNB. We'll be fine when they're gone.
"Fine" in what sense? In the 1970s, Charlotte was probably the most dangerous city in the South. Highly uneducated population with an economic base centered around manufacturing. Guess what, this time around it'll be even worse because manufacturing isn't coming back.

Charlotte doesn't have a diversified economy like the Triangle.
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