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Occupy Wall Street

Yeah but BOA didnt collapse. They didn't lose it all. They simply were dealt a hit so people could buy.

SO Citi collapses and nobody loses anything is your claim? I sure hope not.
 
P.S. I realize that we are talking apples and oranges with the derivatives but if you are ok with some losing their cash then obviously you approved of the other method. Or is that what it means to be OWS, the decider on who loses and who wins?

Cause silly me I thought that was capitalism.

Now if they are too big to fail then an orderly reduction of assets to ensure they can not affect the entire economy would be preferred to a "run". I have never seen an anarchist method achieve anything but chaos.
 
[ame]http://www.youtube.com/watch?v=l2vtXJ0k7AA&feature=related[/ame]
 
Now if they are too big to fail then an orderly reduction of assets to ensure they can not affect the entire economy would be preferred to a "run". I have never seen an anarchist method achieve anything but chaos.
Click to expand...

So if they're too big to fail, we should make them smaller. What happened with that?

Are they not bigger now than they've ever been?
 
JayHawk said:
Yeah but BOA didnt collapse. They didn't lose it all. They simply were dealt a hit so people could buy.

SO Citi collapses and nobody loses anything is your claim? I sure hope not.
Click to expand...

You are mixing three or four different topics here, buddy.

most private investors are completely safe thanks to the FDIC.

The value on the market is what it is. The market has always been unpredictable, and cannot sustain constant expansion. Some will rise and some will fall.

Derivatives and exotic instruments are not inherently bad. What made them particularly nasty this last melt down in 2008 was that they were intentionally made to fail. This allowed the bank to collect on insured assets. They realized they could make quick money if they gave out a bad loan or mortgage on purpose that they KNEW was toxic and insured it for an inflated value.

Remember the beginning of the recession brought the fall of the insurance giants before the banks were threatened.

so....

  1. don't invest in the market if you can't afford to lose the money
  2. any money in the bank is covered by the FDIC insurance
  3. exotic instruments started collapsing because the banks abused the insurance process, and that was unfortunately an eventual and unavoidable reality. The bank crash of 2008 was destined to happen the day the banks decided to use insurance to bet against the person they were giving loans to. That is about a housing market correction and some very shady yet legal practices.
  4. Now that we are a few years into this mess, most asset management firms now downplay their presence in group portfolios.
 
So was that footage of the location that had the arrest? If so they should have been arrested.

If that was the list of demands then ... um.... WTF. SOmeone twisted that women's arm and made her pay 120K to go to school? Really? And you all agree she shouldnt have to honor her debt?

So where was the compassion for the millions of homeowners who didn't wanna pay their debt?

Do any of you sincerely think that any college kid racked up those loans and has no idea what there debt will be at the end?
 
BostonPirate said:
You are mixing three or four different topics here, buddy.

most private investors are completely safe thanks to the FDIC.

The value on the market is what it is. The market has always been unpredictable, and cannot sustain constant expansion. Some will rise and some will fall.

Derivatives and exotic instruments are not inherently bad. What made them particularly nasty this last melt down in 2008 was that they were intentionally made to fail. This allowed the bank to collect on insured assets. They realized they could make quick money if they gave out a bad loan or mortgage on purpose that they KNEW was toxic and insured it for an inflated value.

Remember the beginning of the recession brought the fall of the insurance giants before the banks were threatened.

so....

  1. don't invest in the market if you can't afford to lose the money
  2. any money in the bank is covered by the FDIC insurance
  3. exotic instruments started collapsing because the banks abused the insurance process, and that was unfortunately an eventual and unavoidable reality. The bank crash of 2008 was destined to happen the day the banks decided to use insurance to bet against the person they were giving loans to. That is about a housing market correction and some very shady yet legal practices.
  4. Now that we are a few years into this mess, most asset management firms now downplay their presence in group portfolios.
Click to expand...

Ok unmix my apples. My citibank account has 505,145. How much am I left with after I am insured by the FDIC?
 
Hell from what I am hearing I like this idea. I want my house for free and my car and I dont wanna pay my credit card... because ya know it seemed like a good idea at the time.
 
JayHawk said:
So was that footage of the location that had the arrest? If so they should have been arrested.

If that was the list of demands then ... um.... WTF. SOmeone twisted that women's arm and made her pay 120K to go to school? Really? And you all agree she shouldnt have to honor her debt?

So where was the compassion for the millions of homeowners who didn't wanna pay their debt?

Do any of you sincerely think that any college kid racked up those loans and has no idea what there debt will be at the end?
Click to expand...

:lol: I believe these kids were under the impression that jobs would be waiting for them upon graduation. Her debt shouldn't be written off, but something has to give. She's expecting to be upper middle class and has the debt to prove it, but is now staring into the abyss realizing her debt has gotten her no where. Yes, she's stupid. But at what point do we stop laughing at her and the mistakes that she's made and make use of the talents, skills, and efforts that she does possess?

But you've hit on another piece of this puzzle, school expense. It seems as if the institutions of higher learning have paid attention to their corporate cousins and have learned the value of inflation. For 120k I'm going to need a degree, a back massage, and a happy ending....
 
JayHawk said:
Ok unmix my apples. My citibank account has 505,145. How much am I left with after I am insured by the FDIC?
Click to expand...

If you listen to FDIC's PSAs or read their site, you are covered up to 250,000 in a any one bank. They specifically say to all investors if you have more than that in one bank you should be splitting your money up to other accounts to ensure it is all covered.
 
fetaby said:
:lol: I believe these kids were under the impression that jobs would be waiting for them upon graduation. Her debt shouldn't be written off, but something has to give. She's expecting to be upper middle class and has the debt to prove it, but is now staring into the abyss realizing her debt has gotten her no where. Yes, she's stupid. But at what point do we stop laughing at her and the mistakes that she's made and make use of the talents, skills, and efforts that she does possess?

But you've hit on another piece of this puzzle, school expense. It seems as if the institutions of higher learning have paid attention to their corporate cousins and have learned the value of inflation. For 120k I'm going to need a degree, a back massage, and a happy ending....
Click to expand...

No one's laughing. She has to take responsibility for her stupidity. We have bankruptcy laws to address issues like this. I know it's difficult to include a student loan into a BK but it can be done.

Bailing out the banks was wrong, even though they paid us back with interest. It's similarly wrong to bailout auto makers, states, towns and cities and even unlucky students. It needs to stop immediately. Otherwise all we will have done, is to reward people for doing stupid things.
 
loki81 said:
I thank my parents every day that they talked me out of going into debt to the tune of +$100,000 for college.

I have little sympathy for someone who decides it's a good idea to go to a $40k/year school to study, like, art history... students really need to vote with their feet.
Click to expand...

So presumably your parents had some sympathy for someone who decides it's a good idea to go into high amounts of debts for school, otherwise they would never have tried to talk you out of it.

I'm interested to know what once appealed to you about the academic path you originally considered taking.
 
jackoroe said:
No one's laughing. She has to take responsibility for her stupidity. We have bankruptcy laws to address issues like this. I know it's difficult to include a student loan into a BK but it can be done.

Bailing out the banks was wrong, even though they paid us back with interest. It's similarly wrong to bailout auto makers, states, towns and cities and even unlucky students. It needs to stop immediately. Otherwise all we will have done, is to reward people for doing stupid things.
Click to expand...

Not true. I'm laughing pretty hard actually.

loki81 said:
I thank my parents every day that they talked me out of going into debt to the tune of +$100,000 for college.

I have little sympathy for someone who decides it's a good idea to go to a $40k/year school to study, like, art history... students really need to vote with their feet.
Click to expand...

I have little sympathy for people who rely on their parent's good sense and believe it was their own.

Vote with their feet, eh? :lol: If demand goes up, price goes where?

We have bankruptcy laws to address issues like this. I know it's difficult to include a student loan into a BK but it can be done.
Click to expand...

You do realize your argument eradicates any incentive to go to post secondary school?
One of the problems these people are protesting is that following the prescribed path for upward mobility leads to a financial quagmire.

But that's ok, there's only so much room at the top. And being in the bottom 99% will guarantee you lots of company. :lol:
 
loki81 said:
my attitude was "omg, I got into an ivy league, obviously I have to go!!!11!"

and they had a pretty frank discussion with me about whether or not I really wanted to go into debt to the tune of $40,000/year for a liberal arts degree that isn't exactly setting me up to make a 6-figure income and in the end, convinced me that Big Name or not, I was better off going to the school offering me scholarships and financial aid.

and I'm pretty damn glad I listened to them... in most fields, it seems like it doesn't matter a damn which college you went to versus the work/internship experience on your resume.
Click to expand...

If only your parents could be the parents of every American. *sigh*

I do agree with you of course. There are no guarantees in America except the ones you make for yourself.
 
From OccupySantaCruz. They can't close their bank accounts because they are both customers and protesters.
Erm... is that the law?

[ame]http://www.youtube.com/watch?v=tK0O30aFT7g[/ame]
 
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