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Besides the Penn State Drama, anyone following this Occupy Wall Street Crap?

burmjohn

By burmjohn,
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WNYBuckHunter Experienced

WNYBuckHunter

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Its a joke. I somewhat understand what they are protesting, but they are going about it all wrong. Early on it probably was more "educated"...Now I think its just a trendy hippie movement. Notice how the ones that are protesting dont work?

I can certainly understand why it started and what it was all about. From 2007 to 2010, the FED apparently handed out $16 trillion in bailouts in relative secracy. They were not published and much of it went to overseas governments and companies. Ill see if I can find a link or two. The movement quickly changed into something else, as I figured it would. KInda like how the Tea Party movement was hijacked by people that really dont represent what it was originally about.

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Elmo Rookie

Elmo

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I can certainly understand why it started and what it was all about. From 2007 to 2010, the FED handed out $16 trillion in bailouts in relative secracy. They were not published and much of it went to overseas governments and companies. Ill see if I can find a link or two. The movement quickly changed into something else, as I figured it would. KInda like how the Tea Party movement was hijacked by people that really dont represent what it was originally about.

+1. Particularly how the top squandered away other peoples money, got paid a ton, and then got bailed out by the very people who's money they squandered.

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BKhunter Newbie

BKhunter

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I am 28 years old and work on "Wall St". I wake up every day at 5:45 and work my A** of until I get home at 8:30pm at night leaving little time to enjoy this thing they call life. I earn a pay check which I give almost 40% to the government which includes social security and a health care benefit that I will most likely not see. Everyone is entitled to there opinion and free speech which makes this country great, but seeing these people get free food and free flu shots stoned out of there faces and yelling at the 1%(me...who isn't even a one percenter but work my ass of to hope and dream one day I can be fortunate enough to retire in time to actually enjoy my life) really pisses me off. Wall street employees only make up 14% of the 1% percent they are talking about so build camp near the majority of that 1%. Nothing is ever perfect and yes there are a lot of imperfections in our capitalistic society, but I would rather have those imperfections than be living as a socialist. Bloomberg should have gotten rid of these people a long time ago. It really makes you wonder sometimes why you work so hard when it looks like the majority of the county is moving in the direction of this crap......Let me keep my guns, ammo, and Money....you keep this "change" that people are trying to sell!!!!

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greenecounty Newbie

greenecounty

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I can certainly understand why it started and what it was all about. From 2007 to 2010, the FED apparently handed out $16 trillion in bailouts in relative secracy. They were not published and much of it went to overseas governments and companies. Ill see if I can find a link or two. The movement quickly changed into something else, as I figured it would. KInda like how the Tea Party movement was hijacked by people that really dont represent what it was originally about.

this was in the emergency liquidity repo trading facilities (pdcf/tslf/taf) where nobody was lending to eachother - essentially jpmorgan needed overnight funding for 1bn dollars in treasuries or cash - they then provide the fed with 1.1-1.25bn in highly safe securities so the fed can make a loan of 1bn and has enough collateral cushion for overnight price movement. Imagine doing this for 8-12 months day in and day out because repo trading between global firms is nonexistant because they didnt know if they guys they wouldve lent to would be around the next day to pay them back due to the heavy market movements at the time.

not only have they not lost a single dollar in any transaction, but they also made 72bn dollars last year. and the fed arent your definition of "banker" - they use about .00001% of that to pay for electricity and salary and send the rest of that 72bn to the us treasury. and then we watch the government play around with it and spend it in about 5 hours.

(kinda like lending a dollar to joe but joe gives you 1.25 in something else - if he fails you get the 1.25. doing that daily makes volume really seem to be more than it is.)

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Culvercreek hunt club Enthusiast

Culvercreek hunt club

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this was in the emergency liquidity repo trading facilities (pdcf/tslf/taf) where nobody was lending to eachother - essentially jpmorgan needed overnight funding for 1bn dollars in treasuries or cash - they then provide the fed with 1.1-1.25bn in highly safe securities so the fed can make a loan of 1bn and has enough collateral cushion for overnight price movement. Imagine doing this for 8-12 months day in and day out because repo trading between global firms is nonexistant because they didnt know if they guys they wouldve lent to would be around the next day to pay them back due to the heavy market movements at the time.

not only have they not lost a single dollar in any transaction, but they also made 72bn dollars last year. and the fed arent your definition of "banker" - they use about .00001% of that to pay for electricity and salary and send the rest of that 72bn to the us treasury. and then we watch the government play around with it and spend it in about 5 hours.

(kinda like lending a dollar to joe but joe gives you 1.25 in something else - if he fails you get the 1.25. doing that daily makes volume really seem to be more than it is.)

Didn't you just describe a pawn shop..lol

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WNYBuckHunter Experienced

WNYBuckHunter

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this was in the emergency liquidity repo trading facilities (pdcf/tslf/taf) where nobody was lending to eachother - essentially jpmorgan needed overnight funding for 1bn dollars in treasuries or cash - they then provide the fed with 1.1-1.25bn in highly safe securities so the fed can make a loan of 1bn and has enough collateral cushion for overnight price movement. Imagine doing this for 8-12 months day in and day out because repo trading between global firms is nonexistant because they didnt know if they guys they wouldve lent to would be around the next day to pay them back due to the heavy market movements at the time.

not only have they not lost a single dollar in any transaction, but they also made 72bn dollars last year. and the fed arent your definition of "banker" - they use about .00001% of that to pay for electricity and salary and send the rest of that 72bn to the us treasury. and then we watch the government play around with it and spend it in about 5 hours.

(kinda like lending a dollar to joe but joe gives you 1.25 in something else - if he fails you get the 1.25. doing that daily makes volume really seem to be more than it is.)

Interesting, but do you have any links to articles, info to read about it? What you are saying seems to completely contradict what I have read about the audit that has been done on the FED.

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