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  • SPOTTER9999 SPOTTER9999 Oct 11, 2011 10:51 AM Flag

    Wall Street protests to target NYC millionaires

    Obama has created a HUGH BACKLASH with the AMERICAN PUBLIC. He has created a massive CLASS WARFARE CLASH that we need to stop QUICKLY. OBAMA HAS NO CLUE IN WHAT HE HAS JUST DONE TO THIS COUNTRY. PITTING AMERICAN AGAINST AMERICAN.

    It is tearing apart the VERY FABRIC of what this country was built upon and why we are the envy of the world and most of all, why the UNITED STATES is the center point for the world's economy.

    What OBAMA has done will NOT ONLY DESTROY THE U.S. ECONOMY BUT ALSO DESTROY THE GLOBAL ECONOMY. He does not believe in AMERICANS WORKING HARD TO SUCCEED AND BEING ABLE TO RECEIVE AND ENJOY THE BENEFITS AND FRUITS OF THEIR HARD WORK.

    As for the banks, I agree they created a way to sell off in financial packages (CDO'S)the mortgages that were considered low quality - high risk, they knew from the start that these loans very risky and never passed the requirements but our CONGRESS forced the banks to loan money to people who were not qualified. This was all a part of the having Americans live the "AMERICAN DREAM". THANK YOU BARNEY FRANK FOR FORCING THIS DOWN THE BANKS THROAT.

    As for the government providing loans to the banks, IF THEY DID NOT, OUR ENTIRE FINANCIAL SYSTEM WOULD HAVE COLLAPSED, THIS MEANS, ALL BANK WOULD BE WIPED OUT. Businesses with savings over $250,000 would lose everything, all businesses would shut down gone broke, and everyone would lose their job, I MEAN EVERYONE.
    The federal government had no choice; this would have also caused a global financial meltdown.

    Everyone needs to learn more about how our financial system works before they protest. Yeah, I agree that the banks need to improve, but they are also a public company and have shareholders to report to. They are not owned by the government nor should they be.

    I have no clue how to stop this effort in destroying our society. Does anyone have any intelligent suggestions? One is to VOTE OBAMA OUT OF OFFICE NEXT YEAR. Then let’s fix the congress, vote many of these “old” dinosaurs out.

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    • eye2eeye@bellsouth.net eye2eeye Oct 11, 2011 1:45 PM Flag

      You're talking loud, and not saying anything. The two reasons cited for the economic collapse are a creative Wall Street environment; where financial products were created to escape the existing federal regulations using bogus financial wealth; and a corporate culture which operates with little or no ethical leadership. You fools can rant and rave all day about President Obama, but the origins of America's problems go back at least 3 decades; and the steady list of taxpayer's dollars used to bail-out corporate failure is a matter of record.

      When Neil Bush was involved in the failure of the Silverado S&L fiasco drawing in both politicans and corporate thieves; little did the public realize that the template was set in using public funds to cover the private sector risks. Since this matter as well as the Keating 5, we have seen a steady diet of American business failures by sector using tax dollars---either knowingly failing by taking undue risk or simply being incompetent and using their influence to persuade law makers to give them money after their stupidity. Either way, corporations have basically raided the public's treasury and set themselves up in a very rigged game where they virtually can not lose.

      Your attempt to take a system wide problem and reduce it to President Obama is rather pathetic, but it tells one how desperate and delusional the GOP is, to spin off its coddling of the business community, in times of fear and apprehension.

      I know the GOP base is desparate; but this phoney-baloney is just bizzare and amusing.

    • It started this summer with the gangs of urban youths running wild and attacking whites with no provocation.
      Obama cares nothing about the consequences of his calls for class warfare. Innocent people are becoming the victims of his quest for power.

    • The Chosen One/The Uniter: Hope & Change, most transparent government in history, end of earmarks, balance the budget/reduce the deficit, close Gitmo, end the power of special interest groups/lobbyists in Washington, strong leadership, bring honor back to the White House, non-partisanship governing, etc, etc, etc. What do all these have in common? All are broken Obama promises

    • boot the chamber of commerce out of washington get back to the constitution of the united states.

      Get away from the notion that taxes solve all the problems, and above all NO ONE SHOULD BE ABOVE THE LAW.

      The rule of law is the centerpost of democracy period

    • Credit unions would have taken up the slack.
      I haven't used a bank in 30 years. Fk 'em.
      Credit unions rock by comparison.

      • 1 Reply to saguronsand
      • Very interesting response, this tells me a lot about the level of education you have.
        You totally missed the point I was making.

        First off, credit unions cannot handle global finance transactions, they handle basic financial stuff like, small mortgages, car loans, investments (401K, IRA’s, savings accts), and little stuff like your personal bank savings.

        Second, Credit Unions are still under the direction of our screwed up government policys, they must follow the laws.

        Seems like you are one of those naive people who really do not understand global finance or will even agree that congress started this mess in the first place, not successful people.
        Please reread the message and make comment reverent to this conversation

 
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