Skip to comments.Editorial: What's Behind The Bank Protests?
Posted on 10/06/2011 4:15:28 PM PDT by Kaslin
Socialism: The mob assaults against our banking system by unemployed leftists and their political allies are part of a larger strategy to control the commanding heights of our economy. And we'll all be much poorer for it.
The White House has thrown in with the anticapitalism crowd, and banks had better watch out. You only had to hear President Obama's cynical, politicized expressions of sympathy for the unwashed legions "occupying" Wall Street this week to be worried.
"Not only did the financial sector, with the Republican Party in Congress, fight us every step of the way," Obama said at his news conference Thursday. "But now you've got these same folks arguing we should roll back all those reforms and go back to the way it was."
But no criticism of the demonstrators.
In fact, added Treasury Secretary Tim Geithner, "We are going to push back harder," making what sounds like a fairly explicit threat against the banks.
Welcome to class warfare, 2011-style. Obama's ratings have never been lower, and administration policies leading to a dead-in-the-water economy with 9%-plus unemployment are incredibly unpopular.
So he must think his only hope for re-election is to somehow tie the GOP to fat-cat bankers on Wall Street and then convince voters that the banks are to blame for all their ills.
Sound cynical? It is. But this is what Obama and the Democrats are doing. They've even put out a video: "Republicans: On the Side of Wall Street, not Consumers."
(Excerpt) Read more at investors.com ...
Smith and Wesson stock should be skyrocketing.
Obama and Hoffa carrying out what they said they would. Taking down the banks is a bonus.
Poll numbers for bummer are way down.
Choose your favorite natural law and use it as a metaphor.
I like flying, so of course, I see it as society's stall speed.
In history whenever we reach anywhere near the wealth imbalance we've slowed down into, a crash ensues.
Libs make the charge because it gets them elected.
Have a nice day.
Many of the leading investment bankers and brokerage firms of Wall Street are liberals and Obama backers. It’s hypocritical to portray Republicans and conservatives as being in Wall Street’s pockets.
This is Obama’s attempt at a communist revolution. He knows it is now or never.
It seems as if these guys are drilling for a possible loss next November. They are sending the signal of more of this to come.
That's why we got Quantitative Easing, and why gasoline was $4 a gallon, and potato chips are $4 a bag.
Odimbulb could kill the banks RIGHT NOW by forcing mark-to-market, and ending mark-to-fantasy on mortgage valuations.
As much as he smeared them it would surprise me if they support him. As a matter of fact I heard they will not
My question to any and all FReepers in FReeperdom is...
Will it work?
After all, the majority of those who voted in 2008 put these people in office. A compliant, biased media, rabid socialists, and the power of the presidency this time; I'm concerned.
All of this is what Glenn Beck said would happen on his show months ago and they called him crazy, nuts, a lunatic. Now it is happening, and the Wall Street protestors are calling for global revolution and the collapsed of the system, and there is no doubt that Obama is fanning flames and will do nothing to squash what some are now calling the American Fall a counterpart to the Arab Spring. The funding is being provided by the usual suspects, SEIU, Center for American Progress, among others, and you know who is funding them, George Sorros. Their playbook, The Rules for Radicals, called it creating a crises and what you are seeing is the Bottom Up / Top Down theory also from that same book outlining how to destroy capitalism and what is left of patriotism which will be caught in the middle. And this I am afraid is going to get much uglier.
God help us.
What is behind the protests? Mass “white” unemployment in the most expensive region of the world, with education/skills offering little protection against it.
Flame me if you want, but when you scrape away the silly side issues of the fringes involved here, a lot of these people have some valid points and hopefully can do something to improve conditions for all of our workers. The simple fact is that no matter how much you think you’ve played a role in keeping your job, most jobs are very easy to send away nowadays and most of us could easily be in their shoes. I recently met some accountants from the Philippines, paid $65K to work here; these are jobs some of these protesters undoubtedly held until six months ago.
For the record, I’ve been working steadily since delivering newspapers in grammar school, and probably will be for years to come. Given that, there is no doubt that our standard of living has visibly fallen in the last few decades, and we’ve done little to stop it.
It really infuriates him to have a Republican Congress. Kings aren't supposed to have opposition. He can't come to grips with it.
If we don't push back hard, we may go through 80 years of abject poverty and control, the same as Communist Russia after the Revolution.
Do you happen to remember?
2008 donations to Obama
University of California $1,648,685
Goldman Sachs $1,013,091
Harvard University $864,654
Microsoft Corp $852,167
Google Inc $814,540
JPMorgan Chase & Co $808,799
Citigroup Inc $736,771
Time Warner $624,618
Sidley Austin LLP $600,298
Stanford University $595,716
National Amusements Inc $563,798
Wilmerhale Llp $550,168
Skadden, Arps et al $543,539
Columbia University $541,002
UBS AG $532,674
IBM Corp $532,372
General Electric $529,855
US Government $517,908
Morgan Stanley $512,232
Latham & Watkins $503,295
I think this is going to boomerang on 'Bama. The people who vote, as opposed to the unwashed marchers, see these protests as being ginned up by the regime.
The students who voted for him in '08 have graduated to a jobless declining economy. Those who didn't go to an ivy league brainwashing institute, but took a degree that prepared them for a job, are not liking what they see coming out of the White Hut.
“He knows it (a communist revolution) is now or never.”
My family has blood invested in this country. He seems to want more.
IT IS N-E-V-E-R.
A child like world view of 22 year olds is what’s behind the protests.
These aren’t rabid revolutionaries (despite what the people behind the agenda might want you to think), but mostly unemployed whites who did everything they were supposed to (at least until a few years ago: keep it in your pants, go to school to acquire a skill, show up for work on time every day, etc.) only to find that even if they could find a company willing to hire Americans (here, in America) the pay has fallen to ridiculous levels.
Ignoring these people, or placing 100% of the blame on their shoulders, would be foolish for the Right; their angst is spread across the country, but the financial district is literally ground zero for this problem. Most of those financial jobs, which were sent to Manila & Mumbai, will NEVER COME BACK. The whole infrastructure that grew around it, including the NJ & NY suburbs, have basically been destroyed in slow motion, like closing an army base that was the SOLE employer in a state.
Many of them are Fine Arts majors that are finally realizing they will never be able to pay back $500,000 of student loans on a Starbucks paycheck.
These protests have been planned way in advance, part of the bottom up, top down inside out strategy that Van Jones is so enamored with.
This is how commies and socialist takeover.
He doesn’t have a Republican Congress; just a Republican House of Representatives. The Senate belongs to Harry Reid and the Democrats and Obama; yet even the Dems there are balking at Obama’s games.
Note sure who that union leader would be. You know, I was one of those that once said Beck often goes off the deep end. But remembering very well the many warnings he gave back when he was on FOX, the things he said then and what he is saying now on GBTV is starting starting to scare the bat crap out of me.
Obama Seeks to Win Back Wall St. Cash
By NICHOLAS CONFESSORE
Published: June 12, 2011
New York Times
WASHINGTON A few weeks before announcing his re-election campaign, President Obama convened two dozen Wall Street executives, many of them longtime donors, in the White Houses Blue Room.
“A child like world view of 22 year olds is whats behind the protests.”
This is a dangerous mis-characterization of what is happening here; many of these people are older than this, will probably never work again because American workers cost too much (even in the US), and are twenty years into their mortgage with no hope of paying off the balance.
While some “youth” may get in front of the cameras, that is not an accurate description of this protest. It is being hijacked by leftist causes, but there were some very good points initially made by some of these protesters.
Herman Cain ended his candidacy by dismissing these people as he did; the detachment was palpable.
I see that SOB lost his court case in Europe today.
He is a wanted man, and should be taken in and turned over to the Euro courts.
Now what does that phrase remind me Of?
Oh yes. Communism, where people are considered "our workers" - i.e., subjects of the state who must look to the state for everything, including jobs, rather than a free citizenry in charge of their lives, without gov't interference.
it isn't the gov'ts job to provide jobs. It the gov'ts job to get the he*l out of our way.
“Many of them are Fine Arts majors that are finally realizing they will never be able to pay back $500,000 of student loans on a Starbucks paycheck. “
From your post to God's ears...
“You just made me think of a new word. “sarcicisstic”—a combination of sarcasm and narcissism. Kind of the ultitimate in “up-yours-ology.” can’t wait to hear it at the Spelling Bee finals!”
Kudos to disabledvet @zerohedge
“but there were some very good points initially made by some of these protesters.”
and Mussolini made the trains run on time /sarc
They are a bunch of commie agitators and it will get violent.
“Smith and Wesson stock should me skyrocketing”
It is!! Im an mba student and used this company for a project. They are doing well!!
Many of them are Fine Arts majors that are finally realizing they will never be able to pay back $500,000 of student loans on a Starbucks paycheck.
Like I told my kids:
An accountant gets his first job and says, "How do I make it cheaper?"
An engineer gets his first job and says, "How do I make it better?"
A Liberal Arts major gets his first job and says, "Do you want fries with that order?"
“A Liquid Europe”
What do you think will happen when our unemployment reaches 25%? 50%?
The simple fact is that American workers (our workers) in just about every field have been screwed by “the system”. Anyone who can command a decent wage according to supply & demand will find the supply skewed by government & corporate interference to either flood the market with foreign workers (in defiance of our laws) or by sending the work overseas (with the full protection of the US military). Anyone who defends the “free market” in the job market has to recognize that this hasn’t applied in decades.
I’m hardly a communist; you just preach on while your country is sold to foreigners with very different ideas & ideals than our country was founded on.
I guess watching your way of life disappear is just fine with you; maybe you’d prefer dealing with the Asian imports that have taken many of these people’s jobs...
Well, they certainly are better behaved than our urban unemployed, though their future prospects are just as dim. I wouldn’t fear violence, though; many of these people are more middle-aged than the punks on camera would have you believe. The younger ones are better off; they have no families or mortgages, and never will.
Looks like it was Trumpka and Steven Lerner.
I found these in a cursory search:
I will not flame you because I agree with you. Corporate America has made life miserable for many average American workers as they saber tooth his career and wages thru cycles of hire, fire, rehire doing something totally different (at lower salary of course), fire you after you barely exceed you last salary and begin the whole cycle over and over. Wait till you hit late 40’s then you are too old unless you made it over the hurdle in executive management. The cause of all this chaos is free trade and globalism. In the past we were able to patch this problem up with plenty of jobs and opportunities, but the gov and reckless bankers made such a mess out of the real estate, it will take decades to resolve the recession. Guess what you and I and our kids must put their economic opportunities on hold while the people who caused this (elected politicians and corporate execs) keep their perks and bonuses. Well all this is coming to a bursting point. Off shoring jobs is one contributing factor, illegal immigrants and low paying H-1B workers is another contributing factor. Like any revolt, many causes finally culminate until someone takes the lead. Unfortunately for most freepers the left has grabbed the initiative while too many freepers still trust corporate execs because they are the product of free markets. Corporate execs, politicians, union heads, etc etc who have power and wealth are all prone to abuse, corruption and thievery. Old ancient saying - “Merchants as a group are vital to an empire, because as a group they produce substantial wealth. A good ruler should be mindful to encourage and nurture their industry. At the same time a wise ruler must keep an eye on them because they are capable of using their wealth to corrupt officials and cheat the people.”
This is happening due to leftist causes.
Hijacked? It IS ORGANIZED by the left.
These people you see are what Stalin described as useful idiots.,,,,and you're defending them.
Look past the signs, and especially when this protest started; you can see a lot of middle-aged whites, who used to do the jobs the foreigners in all those office buildings are now doing.
It is an indefensible disgrace, and worthy of a Tunisia moment; our way of life has been destroyed.
The culprit in these protests that Glenn Beck exposed is Stephen Lerner, a former SEIU official.
Some reference articles at THEBLAZE are linked below.
“I guess watching your way of life disappear is just fine with you; maybe youd prefer dealing with the Asian imports that have taken many of these peoples jobs...”
Maybe we wouldn’t have all these problems if more people hit the books instead of going into debt in order to major in some politically correct bogus degree.
Chinese moms are math moms, not soccer moms. That’s why they have a future and we are left with all the crumbs.
Thanks....I found a few links too @ #41
Well said; the workers were supposed to follow a “supply-and-demand” model when obtaining education and skills, but the corporations were excused for side-stepping that model and importing cheap foreign workers. Sending work overseas is more debatable (though I’m sure our military will go to war to protect ADP’s interest’s in India at this point), but to import ANY workers into this country (with low unemployment or even worse with our recent much higher unemployment) is criminal.
I don’t know why so many FReepers defend the status quo, but it certainly explains the election of Obama and why his own party hasn’t tossed him yet. As long as Republicans and their cheerleaders are dismissive of the problems of American workers (does that make me a communist for using the “w” word?), the Democrats will win.