Ontopic Wall Street protest[s]...things

ZRH said:
Yeah I was thinking of bailouts for commercial banks.

They did repeatedly inject capital by buying preferred stock in the early '90s, a lot like what we did, and there was similar effect of the banks being less willing to make loans.
http://web.mit.edu/krugman/www/bailout.html
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Right. Because the Japanese were very much against nationalizing banks like we are now. Nationalization happened over several years starting from 1996 or 1997, I can't remember and ended in 2003. The 1989 date you have sticks because that's was the date of their peak bubble. They uglied along IMO because of shareholder reluctance to lose their bank equity.

We have to stop thinking like shareholders for nationalization to make sense. We're doing exactly what the Japanese did and it took them a decade to get out of it. Capital infusions don't work because the underlying toxic assets are ignored or dishonestly represented. The systematic nationalization of the Japan banks wiped out shareholders, but also allowed good faith audits to identify and reprice non-performing assets. Nationalization is much cheaper, and in the case of Japan, Sweden, and every other nationalization I can think of as a result of economic collapse -- the seized assets were resold because frankly governments would prefer private entities do the banking.

There's an argument for how nationalization saved the banking industry.
 
Casper said:
Right. Because the Japanese were very much against nationalizing banks like we are now. Nationalization happened over several years starting from 1996 or 1997, I can't remember and ended in 2003. The 1989 date you have sticks because that's was the date of their peak bubble. They uglied along IMO because of shareholder reluctance to lose their bank equity.

We have to stop thinking like shareholders for nationalization to make sense. We're doing exactly what the Japanese did and it took them a decade to get out of it. Capital infusions don't work because the underlying toxic assets are ignored or dishonestly represented. The systematic nationalization of the Japan banks wiped out shareholders, but also allowed good faith audits to identify and reprice non-performing assets. Nationalization is much cheaper, and in the case of Japan, Sweden, and every other nationalization I can think of as a result of economic collapse -- the seized assets were resold because frankly governments would prefer private entities do the banking.

There's an argument for how nationalization saved the banking industry.
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I'm not disagreeing about what works, but didn't we "manage" the S&L crisis by buying bad assets directly from failing institutions and liquidating them? Resolution trust company or w/e
 
I just laughed at the thought of our government asking the big banks for a non in-house audit.
 
Pork Soda said:
Nothing untrue about that at all.
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show us a news article or something

It has been pretty a-political, and it's not going to benefit politicians from either side no matter how much they try to capitalize on it.
 
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I like how Obama released a statement how he was with the Occupy wallstreet people and they released one saying "Um no you aren't". Pretty funny considering it was those idiots that voted him into office to get this glorious "Change" we've all been enjoying.
 
b_sinning said:
I like how Obama released a statement how he was with the Occupy wallstreet people and they released one saying "Um no you aren't". Pretty funny considering it was those idiots that voted him into office to get this glorious "Change" we've all been enjoying.
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So the ones who aren't idiots are the ones who voted for McCain?
 
ZRH said:
show us a news article or something

It has been pretty a-political, and it's not going to benefit politicians from either side no matter how much they try to capitalize on it.
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I don't need to show you shit. Exactly what is writen on that image is exactly what happened. If you didn't see it then you didn't see it.

And calling this a-political is ignorant.
 
Pork Soda said:
I don't need to show you shit. Exactly what is writen on that image is exactly what happened. If you didn't see it then you didn't see it.

And calling this a-political is ignorant.
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:lol: You are full of shit and posting random images, as usual. Fuck off.
 
Pork Soda said:
So the ones who aren't idiots are the ones who voted for McCain?
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There were more than two candidates. The fact that we all are brainwashed to select out of two candidates is one of the ways we've screwed ourselves. Of course the other candidates weren't much to choose from but that's besides the point.
 
Oh look 2 minutes on google:

At a briefing today on Capitol Hill, House Majority Leader Eric Cantor (R-VA) said the demonstrators in New York and across the country affiliated with Occupy Wall Street are “justifiably frustrated.”

Cantor went on to say that people are upset about crony capitalism.

“What people are seeing is that if you are close to the halls of power, you’ve got a leg up on somebody else. That’s not fair,” Cantor said.
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There are no transcripts of the briefing unfortunately.

This article is particularly entertaining
Eyewitness to History!
 
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List of Proposed demands said:
Demand one: Restoration of the living wage. This demand can only be met by ending "Freetrade" by re-imposing trade tariffs on all imported goods entering the American market to level the playing field for domestic family farming and domestic manufacturing as most nations that are dumping cheap products onto the American market have radical wage and environmental regulation advantages. Another policy that must be instituted is raise the minimum wage to twenty dollars an hr.

Demand two: Institute a universal single payer healthcare system. To do this all private insurers must be banned from the healthcare market as their only effect on the health of patients is to take money away from doctors, nurses and hospitals preventing them from doing their jobs and hand that money to wall st. investors.

Demand three: Guaranteed living wage income regardless of employment.

Demand four: Free college education.

Demand five: Begin a fast track process to bring the Fossil fuel economy to an end while at the same bringing the alternative energy economy up to energy demand.

Demand six: One trillion dollars in infrastructure (Water, Sewer, Rail, Roads and Bridges and Electrical Grid) spending now.

Demand seven: One trillion dollars in ecological restoration planting forests, reestablishing wetlands and the natural flow of river systems and decommissioning of all of America's nuclear power plants.

Demand eight: Racial and gender equal rights amendment.

Demand nine: Open borders migration. anyone can travel anywhere to work and live.

Demand ten: Bring American elections up to international standards of a paper ballot precinct counted and recounted in front of an independent and party observers system.

Demand eleven: Immediate across the board debt forgiveness for all. Debt forgiveness of sovereign debt, commercial loans, home mortgages, home equity loans, credit card debt, student loans and personal loans now! All debt must be stricken from the "Books." World Bank Loans to all Nations, Bank to Bank Debt and all Bonds and Margin Call Debt in the stock market including all Derivatives or Credit Default Swaps, all 65 trillion dollars of them must also be stricken from the "Books." And I don't mean debt that is in default, I mean all debt on the entire planet period.

Demand twelve: Outlaw all credit reporting agencies.

Demand thirteen: Allow all workers to sign a ballot at any time during a union organizing campaign or at any time that represents their yeah or nay to having a union represent them in collective bargaining or to form a union.
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Fucking Christ these people are stupid
 
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