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You're saying the crash of 2008 was not caused by deregulated bankers, but instead by over-regulation?
You are making a case for corporate self-regulation with zero government "interference"?
Please educate yourself on monetary policy in the united states over the last 50 years. The fact that you don't understand what I am saying is exactly why more people need to study economics.
I am 26 years old and work as an analyst for a firm in the industry.
With all due respect, most of the public isn't educated enough to really understand what is going on. I have put between 75-90 hours/week in for about three years now and am just getting to the point where I can even start to see the bigger picture. A few years ago I blindly trusted what friends and co-workers told me and spent every second I could learning everything I could. The average person, as well as those lower on the totem pole in the industry who don't try to actively educate themselves on the bigger picture will really struggle to see what is going on. Wall Street (as well as all financial services) is the kind of industry that requires a LOT of time before a person can really understand what is going on.
The fault lies solely with our government and federal reserve in creating a system which first, in the 60's moved to create jobs at any expense, jacking up inflation. Then, after Voulker fixed that mess, officials as well as Fed employees allowed growth to happen too quickly and failed to prevent bubbles that would form due to monetary policy which allowed growth beyond what a true market could sustain.
Our government created this problem, if it were to allow the markets to operate in my way, we wouldn't be in this mess in the first place.
These posts by the righties are totally, utterly, irredeemably, indisputably mindless.
They know absolutly ZERO about OWS, not enough to provide an informed critique....
....just rattle off insults and recieved opinion ang generalizations....
FUnny that y;'all are too ignorant to even have the right words or logic criticize something you dont like or argree with. Just gut reactions.
Laughably brain dead rants masquerading as opinion.
That's because they are idiots. They're ignorant, filled with hostility toward anyone who is powerless, and worship the rich. They hate anyone powerless. They don't limit themselves to hating immigrants. They also hate poor citizens of this country. They consistently vote against their own self interests. When they talk, it's as if bands of imbeciles pretend to be taken seriously. I can't think of one right winger I take seriously, and I'm not exaggerating.
That's because they are idiots. They're ignorant, filled with hostility toward anyone who is powerless, and worship the rich. They hate anyone powerless. They don't limit themselves to hating immigrants. They also hate poor citizens of this country. They consistently vote against their own self interests. When they talk, it's as if bands of imbeciles pretend to be taken seriously. I can't think of one right winger I take seriously, and I'm not exaggerating.
Who are you talking about again?
It sounds awfully familiar.
One important point: when banks loan money and get collateral back because of non-payment, they still have not regained the ability to loan that money because it is now tied up in collateral. With the glut of foreclosed houses on the market, the value of the collateral has diminished, and if forced to sell the bank indeed loses money.
Should banks just allow families to move into the foreclosed homes for free? Why?
Some in the occupy movement encouraged squatters to move into forclosures and lived rent free. Do no one see a problem with that?
That's theft, in my opinion.
10,000 lawsuits pending against JPMorgan Chase as of this month.
17,000 jobs at Chase to be eliminated, within the next year and a half, because of their ILLEGAL processing and underwriting
Theft=
JPMorgan Chase & Co. overrode an independent analysis of home loan portfolios by buying and selling defective loans to create a sanitized version of the pool, which was then securitized and sold, a court was told. FSA Asset Management LLC, which bought the residential mortgage-backed securities that later collapsed in value, and its parent Franco-Belgian bank Dexia SA filed hundreds of e- mails and transcripts of employee interviews in federal court in Manhattan on Feb. 4, urging a judge not to throw out their lawsuit over the collateralized securities.
JPMorgan received reports from independent mortgage loan underwriters showing that 20 percent to 80 percent of the loans in samples used for testing didn’t meet the underwriting guidelines, including fraudulent home appraisals or missing documentation, FSA Asset Management, or FSAM, said in the filing.
“Rather than disclose these known defects to FSAM, defendants bought and sold massive quantities of defective loans,” FSAM said. “Defendants secretly overrode the independent loan underwriters’ determinations, creating a final, sanitized version.”
The plaintiffs purchased more than $1.6 billion of residential mortgage-backed securities in 51 offerings between 2005 and 2007, according to an amended statement of claim filed in New York State court in May. The purchases were made from JPMorgan and two banks the New York-based lender acquired during the 2007 credit crisis, Bear Stearns and Washington Mutual.
“Defendants rehash the well-worn ‘don’t blame us, blame the financial crisis’ defense, which numerous courts have rejected,” Dexia said.
The case is Dexia SA v. Bear Stearns & Co. 12-cv-04761. U.S. District Court Southern District of New York (Manhattan).
But of course, you blame the little guy. TBTF banks are fine, according to you.
BTW Hannity controls the microphone. Hannity and Fox propagandists are not used to being called out by "guests", and those who do so are blacklisted. Here's another, exposing Fox's hypocrisy in milking the Benghazi incident for their own purposes. https://www.youtube.com/watch?v=PbUz3pIPmTY
This was supposed to be a five-minute interview.
Re. Occupy, it has generated spinoff movements working behind the scenes, and more protests will probably "spring up" in Spring.
why not just work hard and ensure your livelihood, instead of complaining about others who are doing just that?
no one owes you anything, your life is yours, go make something of it...
instead, you rather line the streets and get beaten down? watching that video, it makes me angry that people are getting hurt...but then i realize i could have gone down and been one of the ones protesting...i was free to do so, and i was free not to...i chose not to because frankly i had better things to do over the summer. i'm not wasting sun and warmth by getting angry..
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