Hey, 99 Percenters, You Call This 'Fair'?

[Cecilie1200]

Continuing my rant....these people are your surgeons, other physician specialists...your educated, valuable citizens. They worked HARD to get to this level. I say cut their taxes, and raise the taxes on the Madoffs of America. I'm not saying to punish the rich; but we sure as hell don't need to be punishing the people who take care of us.

"Punish the rich" is exactly what you're saying. Who do you think you're fooling with this horseshit? Why should Steve jobs pay a higher tax rate than some scumbag politician like Bawney Fwank?

Because mskafka is going to set herself up as Czar of Usefulness and start setting tax rates according to how important and meaningful she personally has decided your job is.

 

[francoHFW]

"Government facilitated the fraud at every juncture; however, government was serving the interests of the richest 1% of its citizens, just as every government has done for thousands of years."

Pub gov'ts, and never one more than Bush's, in bed with Wall St. and castrating the SEC. And blaming F+F is total BS- they went fom 60% of loans to 20% during this period- and got in late, as outsiders. And Barney Frank was out of power from 1994-2007!!. Pure Rush/Fox/Pubcrappe. Dupes!!

 

[Cecilie1200]

You don't think at all.

And retired military have contributed more to this nation than the OWS crowd. True story.

And now military benefits will have to be cut because Reagan and Bush cut taxes for the rich so much.

Your concern for veterans is not at all sincere.

Not to mention it's utterly ludicrous to say that the ONLY place we can POSSIBLY cut the federal budget is military benefits.

 

[Sirkarl101]

Thats just income tax genius!

 

[thereisnospoon]

Unintended consequences had very little to do with the latest Wall Street looting. The trillions of dollars in private debt that have been nationalized since 2008 was a direct consequence of the epidemic of mortgage fraud the FBI began warning about in 2004, with 80% of the deception originating with private lenders.

The GSE's had no choice except to jump on board or watch their marker share evaporate.

If you're still blaming the CRA for telling these private lenders who they should lend to and assuming a huge percentage of these government mandated mortgages have gone bad, where's your evidence showing how CRA mandated loan have defaulted in vastly disproportionate numbers versus the national default rate?

Why didn't CRA Banks that were funding these mortgages fail in even greater numbers than the average bank? Why aren't the portfolios of large national TARP banks littered with toxic CRA defaults?

Why didn't bank execs complain to the Bush White House between 2002-2008 about these CRA mandates unless big government and big money already knew the fix was in?

Since the 345 mortgage brokers that blew up were not covered by CRA legislation and the vast majority of CRA covered banks are healthy, and the biggest foreclosure areas weren't in Harlem or South Central LA, it seems more likely irresponsibly low interest rates precipitated a housing boom while the Fed failed to adequately supervise non-bank lenders.

Radical deregulation of financial markets and a shadow derivative market that operated unlike every other financial product generated compensation schemes that rewarded short term risk over long term profitability.

Increasing the leverage from 12-1 to 35-1 at the major private investment houses also contributed more to the 2008 looting than some legislation written in 1977.

Yeah ok....You ignore the facts and continue to blame Wall Street.
The federal government through the printing of money to cover new spending....
Just a minute...We're not going there...
This is about the real estate bust...
Yes, the warning..Although it was not just the FBI....It was a Congressional Committee that warned of impending financial disaster if Fannie/Freddie was not reined in. Powerful democrats including Maxine Watters, Barney Frank, Mel Watt and Chris Dodd defended the practices and procedures.
Not low interest rates, but low credit standards. Left to operate as in the past, most of the bad loans would never have been made.
I bet you did not know about credit rescores....Oh yes. Back in the boom times, a prospect could walk into a bank or other mortgage company or in many cases, the office of the builder's realtor with shitty credit. All the lender had to do was "rescore" the prospect's credit and VOILA!! Loan approved. Unreal. Many of those loans were done with non verified income or out and out fraudulent information on them....Here's the rub, the federal government was not interested in how these people got their loans, they were concerned only with how many.

How much responsibility for the "real estate bust" do these Wall Street Players deserve?

"Dec. 17 (Bloomberg) -- Representatives of five of Wall Street's dominant investment banks gathered around a blonde wood conference table on a February night almost three years ago.(2004) Their talks over take-out Chinese food led to the perfect formula for a U.S. housing collapse..."

"Those meetings of the 'group of five,'' as the traders called themselves, became a turning point in the history of Wall Street and the global economy.

"The new standardized contracts they created would allow firms to protect themselves from the risks of subprime mortgages, enable speculators to bet against the U.S. housing market, and help meet demand from institutional investors for the high yields of loans to homeowners with poor credit."

Subprime Securities Market Began as `Group of 5' Over Chinese - Bloomberg

Government facilitated the fraud at every juncture; however, government was serving the interests of the richest 1% of its citizens, just as every government has done for thousands of years.

Opinion piece. Not news.
The federal government was serving the interests of lower income people as well as those with poor credit.
Unbelievable.....
Those loans were rammed down the lender's throats. This is fact.

 

[Sunshine]

So to summarize your post.

"Poor people who make less money than me are at their position in life because they are stupid and don't know how to finance their money, and my level of income and spending requirements are just as perilous as theirs. I also handle everything better at every step of the way! I don't know exactly how well or poorly people are financing their money, but because they are poor people I will use the adverb poorly to describe everything they do!"

Yeah, who wouldn't love you? You're just a ray of Sunshine.

What don't you get about my having an illness that costs $100K/year? And about my actually being able to pay for it instead of expecting you to pay for it? You are a fucking idiot. If I lived according to your logic YOU would be paying my medical bills like, no doubt, I am paying yours.

This is STILL America. This is still the land of opportunity. Hell fire, there is STILL a nursing shortage and there is free money everywhere for anyone who can make the grades. Most of those scholarships go untaken every year. So, yes, a good number of people are too lazy and stupid to take advantage of these advantages.

Yeah, who wouldn't love you? You're just a ray of cow Shit!

Luckily, with Obamacare they can't stop insuring you on a technicality. Just because you're unaware of bad luck doesn't mean it doesn't doesn't exist. Stay blissfully oblivious, and keep those ignorant Pub blinders on...

A person who has an illness like mine is NOT oblivious. As to Obamacare, I laugh at you. I agree we do need national health care, BUT for those like yourself who never bothered to read the healthcare bill, there was a $10,000 cap on benefits. So Obamacare was unlikely to help me and it was unlikely to help anyone who was looking at losing their home and lifestyle due to illness.

As stated in another thread, I think about my money every day. Now, I think about this illness and the cost of it every day. I will not quit my job. They will either have to take me out on a stretcher or they will have to fire me. If they fire me, where I live you can draw both SS and unemployment, and I will have to buy COBRA until I have to join the Medicare cesspool. But it is unlikely they will EVER fire me as I now have 2 protected disabilities.

 

[Sunshine]

But I was taught years ago that the definition of 'opportunity' is 'a chance to work.' But hey, that's just me.

You know...for years, I have wanted out of this profession so badly that I could taste it. And now, with the possibility of it being yanked out from underneath me...I'm heartbroken.

Everytime I think of turning in my turnout gear, I break into tears. But it's time to move on. Perhaps return to school and learn something new. This is all I've known in my adult life.

That would be wise. There are many good paying jobs that don't require physical exertion. Mine does not require any physical exertion, but I believe myself to be lucky in the choices I made so many years ago. I was 40 when I became a nurse and knew that, even though I could do the bedside care for a few years, I would soon need something less physically taxing. If you have a health care background, you may even be able to find a job in something like insurance or risk management with minimal extra training. Those jobs and the fact that nurses gravitate to them after a certain number of years is what keeps the profession in a constant shortage. If you can be a nurse, you can be lots of other things. I suspect it is the same with your profession.

 

[daveman]

And now military benefits will have to be cut because Reagan and Bush cut taxes for the rich so much.

Your concern for veterans is not at all sincere.

Not to mention it's utterly ludicrous to say that the ONLY place we can POSSIBLY cut the federal budget is military benefits.

According to the left, the only non-necessary spending we have is in DoD.

 

[The T]

Your concern for veterans is not at all sincere.

Not to mention it's utterly ludicrous to say that the ONLY place we can POSSIBLY cut the federal budget is military benefits.

According to the left, the only non-necessary spending we have is in DoD.

And note they are the first to whine, moan, bitch, and complain when the Military doesn't meet it's objectives...or to further? What will they do if we can't respond when we need to? Will they blame Bush then too?

 

[daveman]

Not to mention it's utterly ludicrous to say that the ONLY place we can POSSIBLY cut the federal budget is military benefits.

According to the left, the only non-necessary spending we have is in DoD.

And note they are the first to whine, moan, bitch, and complain when the Military doesn't meet it's objectives...or to further? What will they do if we can't respond when we need to? Will they blame Bush then too?

Of course. They refuse to take responsibility for their actions. It's always someone else's fault.

 

[georgephillip]

What makes someone earning $340 million a year a "parasite," nothing more than your say-so? Was Steve Jobs a "parasite?" I'd really like to know how you define the term. One suspects that you just throw it around because you've that it has some impact so you use it even though it doesn't appl.

"parasite (plural parasites)

(biology) A (generally undesirable) living organism that exists by stealing the resources produced/collected by another living organism.

(pejorative) A person who relies on other people's efforts and gives little back (originally a sycophant)."

parasite - Wiktionary

ROFL! I see you had to resort to wiki to find a definition you liked - one that didn't apply solely to those sucking on the welfare tit. You are aware of the fact that Wiki is notoriously biased, aren't you?

Steve Jobs produced useful products. He doesn't qualify as a parasite in the same way your Wall Street Heroes do:

You still haven't explained how a person becomes a parasite simply because he earns $340 million. In fact, you have already admitted that some other criteria determines the matter since you admit Steve Jobs is not a parasite. The fact is most wealthy people have the bulk of their wealth tied up in productive assets, like stock in a corporation. People become wealthy because they produce something. Most become wealthy by building a business. They create jobs and products or services that people value.

"Dec. 17 (Bloomberg) -- Representatives of five of Wall Street's dominant investment banks gathered around a blonde wood conference table on a February night almost three years ago. (in 2004)

"Their talks over take-out Chinese food led to the perfect formula for a U.S. housing collapse."

Subprime Securities Market Began as `Group of 5' Over Chinese - Bloomberg

So how does that prove a rich person is automatically a parasite? You haven't even proven that the people your article refers to are parasites. Some companies made a bad investment, so they are parasites? Sorry, but that doesn't cut it with anyone who has two brain cells to rub together.

Got a credible link to prove Wiki's biases?

Living organisms that exist by stealing the resources produced or collected by another living organism applies perfectly to the parasites who collaborated in 2004 to manufacture the collapse of the US housing market:

"The new standardized contracts they created would allow firms to protect themselves from the risks of subprime mortgages, enable speculators to bet against the U.S. housing market, and help meet demand from institutional investors for the high yields of loans to homeowners with poor credit...

"The tools also magnified losses so much that a small number of defaulting subprime borrowers could devastate securities held by banks and pension funds globally, freeze corporate lending, and bring the world's credit markets to a standstill...

Millions of foreclosures and missing jobs prove the parasitic nature of Wall Street's "group of five" to anyone with a single brain cell functioning.

Subprime Securities Market Began as `Group of 5' Over Chinese - Bloomberg

 

[The T]

According to the left, the only non-necessary spending we have is in DoD.

And note they are the first to whine, moan, bitch, and complain when the Military doesn't meet it's objectives...or to further? What will they do if we can't respond when we need to? Will they blame Bush then too?

Of course. They refuse to take responsibility for their actions. It's always someone else's fault.

How to spot a Statist/Libroidal/Democrat...

Blame, minimize, deny, obfuscate...

 

[georgephillip]

Yeah ok....You ignore the facts and continue to blame Wall Street.
The federal government through the printing of money to cover new spending....
Just a minute...We're not going there...
This is about the real estate bust...
Yes, the warning..Although it was not just the FBI....It was a Congressional Committee that warned of impending financial disaster if Fannie/Freddie was not reined in. Powerful democrats including Maxine Watters, Barney Frank, Mel Watt and Chris Dodd defended the practices and procedures.
Not low interest rates, but low credit standards. Left to operate as in the past, most of the bad loans would never have been made.
I bet you did not know about credit rescores....Oh yes. Back in the boom times, a prospect could walk into a bank or other mortgage company or in many cases, the office of the builder's realtor with shitty credit. All the lender had to do was "rescore" the prospect's credit and VOILA!! Loan approved. Unreal. Many of those loans were done with non verified income or out and out fraudulent information on them....Here's the rub, the federal government was not interested in how these people got their loans, they were concerned only with how many.

How much responsibility for the "real estate bust" do these Wall Street Players deserve?

"Dec. 17 (Bloomberg) -- Representatives of five of Wall Street's dominant investment banks gathered around a blonde wood conference table on a February night almost three years ago.(2004) Their talks over take-out Chinese food led to the perfect formula for a U.S. housing collapse..."

"Those meetings of the 'group of five,'' as the traders called themselves, became a turning point in the history of Wall Street and the global economy.

"The new standardized contracts they created would allow firms to protect themselves from the risks of subprime mortgages, enable speculators to bet against the U.S. housing market, and help meet demand from institutional investors for the high yields of loans to homeowners with poor credit."

Subprime Securities Market Began as `Group of 5' Over Chinese - Bloomberg

Government facilitated the fraud at every juncture; however, government was serving the interests of the richest 1% of its citizens, just as every government has done for thousands of years.

Opinion piece. Not news.
The federal government was serving the interests of lower income people as well as those with poor credit.
Unbelievable.....
Those loans were rammed down the lender's throats. This is fact.

The article was published under Bloomberg News not Bloomberg View (opinion).

The "group of five" representing Deutsche Bank, Goldman Sachs, Bear Stearns Cos, Citigroup and JP Morgan Chase created tools that "magnified losses so much that a small number of defaulting subprime borrowers could devastate securities held by banks and pension funds globally, freeze corporate lending, and bring the world's credit markets to a standstill."

Subprime Securities Market Began as `Group of 5' Over Chinese - Bloomberg

Our federal government is no different in one important respect from all governments throughout history; it exists to serve the interests of its richest citizens. The government didn't have to ram these loans down the throats of Countrywide or Quick Loan Funding:

"In Orange County, California, a mortgage lender named Daniel Sadek was among those who took notice of the increase in Wall Street's appetite for subprime loans.

"He turned the staff at his firm, Quick Loan Funding, into a subprime mortgage factory. `You can't wait,'' said his ads, aimed at high-risk borrowers. `We won't let you.'''

 

[Big Fitz]

And note they are the first to whine, moan, bitch, and complain when the Military doesn't meet it's objectives...or to further? What will they do if we can't respond when we need to? Will they blame Bush then too?

Of course. They refuse to take responsibility for their actions. It's always someone else's fault.

How to spot a Statist/Libroidal/Democrat...

Blame, minimize, deny, obfuscate...

and once in control you forgot "arrest, imprison, execute and bury the bodies in hidden mass graves."

 

[EriktheRed]

And now military benefits will have to be cut because Reagan and Bush cut taxes for the rich so much.

Your concern for veterans is not at all sincere.

Not to mention it's utterly ludicrous to say that the ONLY place we can POSSIBLY cut the federal budget is military benefits.

And just who has said that?

 

[EriktheRed]

According to the left, the only non-necessary spending we have is in DoD.

And note they are the first to whine, moan, bitch, and complain when the Military doesn't meet it's objectives...or to further? What will they do if we can't respond when we need to? Will they blame Bush then too?

Of course. They refuse to take responsibility for their actions. It's always someone else's fault.

More pot/kettle.

Talk to the whiners pissing and moanig about recent events in VA. Maybe you're one of them, even.

 

[Cecilie1200]

Your concern for veterans is not at all sincere.

Not to mention it's utterly ludicrous to say that the ONLY place we can POSSIBLY cut the federal budget is military benefits.

And just who has said that?

Chris did. Can you not see his post?

 

[The T]

And note they are the first to whine, moan, bitch, and complain when the Military doesn't meet it's objectives...or to further? What will they do if we can't respond when we need to? Will they blame Bush then too?

Of course. They refuse to take responsibility for their actions. It's always someone else's fault.

More pot/kettle.

Talk to the whiners pissing and moanig about recent events in VA. Maybe you're one of them, even.

What does Virginia have to do with it? That's right...nothing.

 

[bripat9643]

Got a credible link to prove Wiki's biases?

http://www.globalwarminghoaxblog.com/2008/06/wikipedia-censors-global-warming.html

Living organisms that exist by stealing the resources produced or collected by another living organism applies perfectly to the parasites who collaborated in 2004 to manufacture the collapse of the US housing market:

"The new standardized contracts they created would allow firms to protect themselves from the risks of subprime mortgages, enable speculators to bet against the U.S. housing market, and help meet demand from institutional investors for the high yields of loans to homeowners with poor credit...

"The tools also magnified losses so much that a small number of defaulting subprime borrowers could devastate securities held by banks and pension funds globally, freeze corporate lending, and bring the world's credit markets to a standstill...

Millions of foreclosures and missing jobs prove the parasitic nature of Wall Street's "group of five" to anyone with a single brain cell functioning.

Subprime Securities Market Began as `Group of 5' Over Chinese - Bloomberg

None of the people you mentioned "stole" anything. They simply made a bad investment. According to your definition, every businessman who loses money is a parasite. The people who actually engineered the sub-prime mortgage fiasco are politicians like Jimmy Carter, Bill Clinton, Bwany Fwank, Chris Dodd and Maxine Waters who passed legislation forcing banks to grant mortgages to people who couldn't pay them. All the people you mention did is devise a way to make these turd mortgages marketable. They had no other choice. It was that or be forced out of business by the federal government.

Furthermore, you still haven't accounted for all the millionaires who weren't involved in the sub-prime mortgage industry. According to you, they are parasites.

Face it, you're pumping out horseshit and you know it.

No one is fooled.

 

[bripat9643]

The article was published under Bloomberg News not Bloomberg View (opinion).

Even worse, they published an obvious opinion piece as news. The liberal propaganda organs use this technique more and more frequently.