Occupy Wallstreet... and Bs As?

Ries said:
I said, no, the CRA only required that the 15% of banks that received FDIC money must not discriminate in terms of race, creed, or color when making loans.
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Does this mean that the 85% of the banks that didn't receive FDIC money could discriminate in terms of race, creed, or color when making loans?
 
Ries said:
Your paranoia medication should be increased- .
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Why do you feel the need to resort to personal comments like this?

Perhaps you have an opinion about Dodd-Frank.
 
dennisr said:
Think there is a little bit more to the equation. Banks, lenders, mangers of all walks of life have a fiduciary duty by law and regulation to do what is ethical and right. Individual and idiots are exempt from*fiduciary things. The banks and lenders made fraudulent loans, having full knowledge the borrower did not qualify. We could argue all day about the idiots that were in over their heads, however, the responsibility and fiduciary duty is and will always be with the lender. That is why they get the big bucks.
That countrywide puke should be in prison doing hard time.
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I don't disagree that any banker or institution that systemically and knowingly ignored their fiduciary duty should face penalties. In the case of Countrywide, I believe he paid a 67MM USD fine.

And yes, the financial responsibility is with the banker (ie what happens if the borrower defaults). But can you really say the borrower doesn't have his own responsibilities including knowing what he or she can afford and having a sense of realism about the best option available? That's all I'm saying. My N1 sample - when applying for mortgage, the bank told me I would have no problem being approved for a jumbo (500K+) loan back in the day.. There is NO way in hell I would have even considered borrowing that amount due to the risk and cost, even though apparently I fell within bank parameters. It's not that hard to say no.

Same with the schools/student loans issue. If you're not comfortable coming out of school with X number in student loans, go to an institution such as a public university which offers equally great educational options at a fraction of the cost of private schools. Or work while going to school, etc.

Shrug - I don't know. Easier to point the finger at someone else I suppose than admit that you (the general you) have some part in the problem.
 
bradlyhale said:
Complaining at the voting booth? That's hilarious. Our votes are bought. The corporate-run media and the million-dollar PACs buy them. Your vote is a return on someone's investment.

How do presidential candidates make it to the spotlight in the first place? I had to laugh at the requirement's mentioned for one of the FOX News debates. The anchor said that the candidates had to least get 3 percent of the vote in order to participate in the debate. Where did the people who voted find out about the candidates in the first place? How did anyone ever learn about Herman Cain, for example? I had never heard of him until he appeared on FOX News. What about Barack Obama? He was a liberal media darling! Everyone says, "Oh, the media doesn't affect me," but study after study (and reality) indicates the complete opposite.

Voting gives us the illusion that we're in control, but, in reality, money controls everything. So, if I have a vote and no money, what control do I have? Where is President Obama going to get his $1 BILLION for the next presidential campaign? Wake up, folks.
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It all goes back to the pigs on "Wall Street" and yes politics is Money Ball.
 
mariposa said:
http://latimesblogs.latimes.com/nationnow/2011/10/occupy-wall-street-.html

today 4:30 pm, new york city. big march from near city hall to wall street. i am going. so is just about everybody else i know. that's a lot of people.
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Go for it! I wish I was there. Nobody has hit the streets since we got the crap beat out us in the 60s and 70s. But it had some effect.
And if you run into Harrison Rockefeller..........just kick him in balls. There must be change!!!
 
mariposa said:
people who have lost their jobs, pensions, homes etc because of irresponsible (to put it kindly) bankers and mortgage agents, and young people who have exorbitant student loans which will hover over many years of their lives while their job prospects are bleak or worse, are hardly arrogant and don't expect entitlements. they are looking for a fair chance. they have a point, especially in view of exorbitant executive pay and obscene rewards for ceo's who have run their companies into a ditch and then get fired. and walk away with millions.
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Many of the individuals who lost their homes chose to buy McMansions they could not afford based on their current or projected earnings. Their choice.

Many of the students who have loans they cannot repay chose to attend schools they could not afford rather than going to community and city colleges with low tuition. Many chose to major in 17th Century English Lit rather than accounting or IT.

While I see your point and agree with many of your points about exorbitant executive pay and so forth, your post displays a shocking disregard for personal choices many so called victims made along the way. Choices have consequences.
 
A quick update: There has been something organized here in Buenos Aires for those interested. It's an open discussion taking place at 7pm on Friday in Plaza Italia (near the monument).

May be something interesting for you guys to do before dinner. I'll be there checking it out. :D
 
gsi16386 said:
Get it dog! Be sure to spike that mohawk really high and shine those piercings before you head out. America's watching and listening....YAWWWWNNNN
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WOW! Get a job with Fox.
 
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