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

[Cowman]

Everyone back up and take a deep breath. It's the holidays. Some have made better choices in life than others. And some just plain had better opportunities than others.

Cow, I'm not sure what your situation is at this point, but I can tell you that I personally am in a precarious situation right now. I have an illness that I didn't expect....or rather.....I can say that I expected it due to family history, but I didn't expect it to come on overnight.

It's going to basically eat me up on the inside; and I'm in a job that is quite physically demanding. While I'm not in Sunshine's position, with treatment costs...mine are going to be....about $30,000/yr.

The key is to plan, plan, PLAN. Because crap happens when you least expect it. Peace, and happy holidays to you.

Yes, and I'm all about expanding health care coverage, making it more accessible to everybody, so that complete lives don't have to be ruined, whole families don't have to go bankrupt, because of a singular serious illness.

I'm not one to stand by as my fellow Americans suffer and die. I wouldn't do it in wartime, I'm not going to do it in peacetime. I will fight always for more universal health care coverage, creating that direct link between doctor and patient, so that the money does not all get accumulated by the insurance agency, but instead gets spent where it is most desperately needed.

 

[Sunshine]

And what is it that you plan on doing, vote?

You do realize that unless you can cough up several thousands of dollars to give to a government official of some stripe to get things to go yor way, your vote is basically meaningless; a nice exercise in the democratic process, but meaningless none the less.

Our government is owned lock, stock, and barrel by those who can afford the campaign contributions (aka, bribes).

In that case, I'm sure we can depend on you to stay home and grumble on Election Day 2012, rather than wasting your valuable time casting your meaningless vote, yes?

Those who do not vote and are registered who do not exercise their right to vote IMO have no right to an opinion.
One cannot expect to have the luxury of criticism while standing on the sidelines.

Where does the Constitution say any of that? There are many people who, for various reasons, can't vote and they have every right to an opinion. The Constitution also gives them the right to voice that opinion.

 

[mskafka]

And what is it that you plan on doing, vote?

You do realize that unless you can cough up several thousands of dollars to give to a government official of some stripe to get things to go yor way, your vote is basically meaningless; a nice exercise in the democratic process, but meaningless none the less.

Our government is owned lock, stock, and barrel by those who can afford the campaign contributions (aka, bribes).

In that case, I'm sure we can depend on you to stay home and grumble on Election Day 2012, rather than wasting your valuable time casting your meaningless vote, yes?

Those who do not vote and are registered who do not exercise their right to vote IMO have no right to an opinion.
One cannot expect to have the luxury of criticism while standing on the sidelines.

And what do you do when you don't trust either candidate. You're just SOL and JWF; right?

 

[Sunshine]

Everyone back up and take a deep breath. It's the holidays. Some have made better choices in life than others. And some just plain had better opportunities than others.

Cow, I'm not sure what your situation is at this point, but I can tell you that I personally am in a precarious situation right now. I have an illness that I didn't expect....or rather.....I can say that I expected it due to family history, but I didn't expect it to come on overnight.

It's going to basically eat me up on the inside; and I'm in a job that is quite physically demanding. While I'm not in Sunshine's position, with treatment costs...mine are going to be....about $30,000/yr.

The key is to plan, plan, PLAN. Because crap happens when you least expect it. Peace, and happy holidays to you.

Yes, and I'm all about expanding health care coverage, making it more accessible to everybody, so that complete lives don't have to be ruined, whole families don't have to go bankrupt, because of a singular serious illness.

I'm not one to stand by as my fellow Americans suffer and die. I wouldn't do it in wartime, I'm not going to do it in peacetime. I will fight always for more universal health care coverage, creating that direct link between doctor and patient, so that the money does not all get accumulated by the insurance agency, but instead gets spent where it is most desperately needed.

Oh blah blah blah blah blah! While I am at work working, you are here pounding out your drivel, half reading, and pointing fingers at demons where none exist. Now go chew your cud, cowshit.

 

[thereisnospoon]

When I think about the wealthy in America, I think about the hard work, the risk and the sacrifice it takes to succeed. I think about all the people able to feed their children and send them to school because they have jobs created by the successful risk-takers. I don't hold a grudge against the big time rich -- except for limousine liberal millionaires in Hollywood.

This is typical of the ignorance and stupidity of the right:

No one ‘holds a grudge’ against the rich. Americans simply want the wealthy to pay their fair share, nothing more, nothing less. When it comes to addressing the budget deficit, for example, Americans don’t want to see taxes increased on the Middle Class – or benefits reduced for the elderly, disabled, and children – to balance the budget with the wealthy not contributing.

As for taxes in New York, that’s antidotal, non-representative, and irrelevant. An utter non-issue.

You know what? I wouldn't even give a shit about the wealthy paying their "fair share"....IF we had a reasonable labor/management ratio. The vast majority of our citizens are getting completely hosed in this country, as far as wages and benefits, simply because those with money and power can simply take their ball and go home if things don't suit them.... and by HOME... I mean places like COMMUNIST China.

Funny how the right wingers LOVE... and I mean Absolutely love to call Democrats Communists... but they have no problem with our most powerful and wealthy being fully in bed with them.... all so they can make massive profits at the expense of OUR CITIZENS.

While you are certainly entitled to your view, I believe your view to be skewed to an extent that it's not rational.
Yours are the words of anger.
What do you mean by "hosed"?
What is a "labor/management ratio"?

 

[Cowman]

Everyone back up and take a deep breath. It's the holidays. Some have made better choices in life than others. And some just plain had better opportunities than others.

Cow, I'm not sure what your situation is at this point, but I can tell you that I personally am in a precarious situation right now. I have an illness that I didn't expect....or rather.....I can say that I expected it due to family history, but I didn't expect it to come on overnight.

It's going to basically eat me up on the inside; and I'm in a job that is quite physically demanding. While I'm not in Sunshine's position, with treatment costs...mine are going to be....about $30,000/yr.

The key is to plan, plan, PLAN. Because crap happens when you least expect it. Peace, and happy holidays to you.

Yes, and I'm all about expanding health care coverage, making it more accessible to everybody, so that complete lives don't have to be ruined, whole families don't have to go bankrupt, because of a singular serious illness.

I'm not one to stand by as my fellow Americans suffer and die. I wouldn't do it in wartime, I'm not going to do it in peacetime. I will fight always for more universal health care coverage, creating that direct link between doctor and patient, so that the money does not all get accumulated by the insurance agency, but instead gets spent where it is most desperately needed.

Oh blah blah blah blah blah! While I am at work working, you are here pounding out your drivel, half reading, and pointing fingers at demons where none exist. Now go chew your cud, cowshit.

Old lady with a foul tongue.

I approve actually.

 

[thereisnospoon]

You know what? I wouldn't even give a shit about the wealthy paying their "fair share"....IF we had a reasonable labor/management ratio. The vast majority of our citizens are getting completely hosed in this country, as far as wages and benefits, simply because those with money and power can simply take their ball and go home if things don't suit them.... and by HOME... I mean places like COMMUNIST China.

Funny how the right wingers LOVE... and I mean Absolutely love to call Democrats Communists... but they have no problem with our most powerful and wealthy being fully in bed with them.... all so they can make massive profits at the expense of OUR CITIZENS.

I am raising my hand as one of the hosed. And I will agree with you about the commie scare. Some are obsessed with Communism. I thought that we'd left most of this back in the 1980's. Red Dawn must have been on AMC recently.

It's actually laughable. What happened to terrorism? Have we reverted to communism....or is it a dual paranoia: Terrorism with occasional Communism paranoia relapse?

Absofuckinglutely.... Russia is dead as.. well... dead... they were the boogeymen in my era. I distinctly remember the Russians shooting down a Korean Airlines passenger flight in 1983(I was 18)... and I seriously though that that incident was the beginning of the end of the world. I am now 46.... and I am still living. I have a wonderful wife, who is probably a little pissed at me for posting on a message board at 10:49PM on Christmas Eve... when we both have to work tomorrow, starting at 6AM.

Terrorism? You know what? It doesn't concern me all that much. I've come to my own personal conclusion that if someone or some entity wants bad enough and plans well enough... they are going to break through any defense that a FREE country can provide. THAT in itself.. is the real PRICE of being a free country.

Communism? In this exceptional country of ours? Should not even have a place at the table. Socialism?.... well, I must admit to a certain affinity towards Socialism... perhaps not to the extent of a Greece or Ireland... but most certainly to the extent of a Germany or France. You see, you have to have the financial ability to implement those practices.... which uis where Greece and Ireland fall very short.

But the UNITED STATES of AMERICA? We not only have the ability to do such things... we almost have an OBLIGATION to do such things. As the rest of the world pretty much hinges on our abilities.

The truth and the bottom line is that as America goes... so goes the rest of the world... has NEVER been truer. The absolute BEST thing that America can do is to embrace the idea that a strong, well paid workforce... will help the country(and by default) help the world... increase their standard of living.

Be careful what you wish for. You might just get it.

 

[thereisnospoon]

How much more are the 1% entitled to?

"In a recent Pew Foundation poll, 77 percent of respondents said too much power is in the hands of a few rich people and corporations.

"That’s understandable. To take a few examples:

"Wall Street got bailed out but homeowners caught in the fierce downdraft caused by the Street’s excesses have got almost nothing.

"Big agribusiness continues to rake in hundreds of billions in price supports and ethanol subsidies. Big pharma gets extended patent protection that drives up everyone’s drug prices. Big oil gets its own federal subsidy.

"But small businesses on the Main Streets of America are barely making it."

That's because small business owners and their employees have barely enough income to survive from one quarter to the next. Hence they lack the dollars necessary to drive the US economy or bribe their local elected Republicans and Democrats for favors at tax time.

The situation is not sustainable for a democratic republic.
Stop "choosing" between Republican OR Democrat when you vote.
FLUSH the DC toilet in 2012!

Fire the next shot heard 'round the world without killing anyone.
(Merry Holidays AND Happy Christmas)

Robert Reich (The Defining Issue...)

The problem is PEW does not distinguish between businesses and individuals.
And even if it did , the point is moot.
PEW furthers the notion of the zero sum game. Which we all know does not exist.
The federal government dispenses those subsidies. Head down I-95 and exit off the Balto Wash Parkway..It's the big white buildings at the end of the highway. File your complaint there.
The real estate bubble and subsequent burst was not caused by "Wall Street excesses.
The source can be traced directly to federal policy and Fannie/Freddie.
I listened to a woman on the radio who once worked for a mortgage company. She said she was about to testify in three court cases regarding mortgages and the fraud that took place during her tenure.
She said that at least one per week an official from fannie/freddie, HUD or FHA was there to insure loans were being made under federal regulations to the "right" people.
In other words ,these lenders were being TOLD by the federal government who they must lend to.
We know all about the federal government guaranteeing the solvency of these subprime loans. The federal government allowed the paper to be bought sold and bought again.
The feds allowed these loans to be packaged together as investments, again with the promise the federal government would back the loans and sold as 'mortgage backed securities'.
The canned message we hear from our friends in Washington and regurgitated by the main stream media and of course those members of the public who just like to be told what to think and say is "Wall Street ruined the country".
The trading of these so called securities were bought and sold at One Wall Street, but the source was once again the federal government.
Yes, our government which is led by people who have not as of yet familiarized themselves with laws of unintended consequences.
PEW and every other alarmist/advocacy group looking for donations is dead wrong here.

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.

 

[thereisnospoon]

There are allot of weird things about living in NYC. Taxes, Fee's Surcharges, Fines, Fee's, and Penalties, both hidden and exposed. From Property Taxes, Utilities, Services, Tolls, we are generally hit every time we blink. Somebody has to pay for the Union Perks.

Somebody has to compensate for the fact that the federal tax burden of the 1% hasn't been this low in half a century. We are currently borrowing from the rich instead of taxing them.

HA! There you go with your prejudices. You believe that in order to live in NYC, one must be wealthy. So you spit at them.
Most of those taxes and fees are the regressive types of taxes you people despise.
Yeah.
LIsten....don't think. Just emote. Keep it up.

 

[francoHFW]

I didn't get to earn a 6 figure salary by being stupd or by looking at others who did and claiming they owed me something. This year, I was diagnosed with an illness for which the medicine costs 100K/year. I have a good job, good insurance, and met the catastrophic deductible. If I decided that my state of affairs was not, what was your word, 'delicate' and blew what I brought home on silly shit all year, I would not have been able to pay each bill in full as they rolled in. Just this week, I got a 150 check from Vanderbilt for an overpayment, and the mail out pharmacy owes me $100 in overpayment.

So don't give may any of your bullshit about how much less 'delicate' budgeting is for people who make over 100K. Anyone who gets to that level of earning and thinks they can start blowing money left and right will soon have nothing. I have thought about my money every day of my adult life both before and after my husband died. And I have never stopped keeping the little notebook with a list of every cent I expect to pay out each paycheck. Now, I couldjust let the bills roll in and pay them as they hit the mailbox. I could do that, and I would be able. But I will NEVER stop budgeting. EVER. And I gave my stamp of approval to my daughter who ditched her first serious romance because she is a Dave Ramsey girl and he liked to blow his money. There is nothing like good common sense. Something with which you, apparently, are most unfamiliar!

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 ******* 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...

 

[thereisnospoon]

Rich people benefit more from our society......of course they should pay more

Spoken like a true Marxist. Nevermind they pay the bills.

Middle class consumers drive the US economy and pay the bills,not rich parasites who expect government to reward them for outsourcing of millions of middle class jobs to China with tax cuts and more financial deregulation.

Yes...Skin them all live and set them on fire.
That'll teach 'em to be wealthy.

 

[thereisnospoon]

You're a ******* idiot.

Rich people benefit more? You mean someone that builds a business and makes their wealth from hard work got more benefit than some bum that sits on their ass and TAKES welfare checks?

It seems one is paying into their system with hardwork and taxes while your kind is taking more than what they put in....now that is someone benefitting more from the system.

Rich people benefit more from our society......of course they should pay more

You built that factory?

Did you get a tax break for building it? How about low cost loans and a government backing?

How do goods and services get to your factory? Do you like those roads and rail lines? Who educated your workforce for you? Pay low wages? Who subsidizes your workers so they can live in your area?

You have any patents? Did you get any government grants to develop them? Who protects your patents at home and abroad?

You ship product overseas? Who protects your markets? Who enforces global patents and trademarks?

The rich get more benefits from our tax dollars than any welfare queen

This post confirms that it is government spending that is the problem.
Yet, you people blame the recipient. Government sets up the subsidies and hands them out like candy. Washington is the problem. Not the private sector.
Our markets are not protected. Global patents and trademark laws are NOT enforced. The US does not have the manpower nor does it have the authority.
The ******* Chinese have been stealing our physical and intellectual property for years. Do we do anything about it? No...
Plesse do not play the socialism card either.

 

[francoHFW]

When you add up all the state, local, fedreal taxes, fees, etc, poor people pay as high a percentage in taxes as the richest. Another Pub dupe myth.

When one group doubles to quadruples their wealth while everyone else suffers, along with the country, they're not paying their fair share, dupes. And being able to afford a tax lawyer shouldn't make so much difference. ALL Pubcrappe law, and no tidal wave of BS about the lazy poor will work except for morons or a-holes....Merry Christmas!

 

[mskafka]

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.

 

[georgephillip]

These people really get the shaft. Either their tax rate needs to go down, or the multi millionaires and billionaires taxes need to go up. Not fair at all.

It's not by accident that productive small business owners working 70-80 hours a week for $340K a year are in the same tax bracket as parasites earning $340 million per year. Elected Republicans AND Democrats engage in this type of class war, and it seems to me the only solution is for millions of Americans to start voting against all Republicans AND Democrats on their ballots.

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)."

http://en.wiktionary.org/wiki/parasite

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

"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

 

[francoHFW]

It's not laziness or entitlement- it's a Goddam Pub DEPRESSION, ferchrissake! Thanks for that and obstructing the recovery...while blaming the victims of the Pubcrappe! Enjoy the afterlife LOL.

 

[hortysir]

When you add up all the state, local, fedreal taxes, fees, etc, poor people pay as high a percentage in taxes as the richest. Another Pub dupe myth.

When one group doubles to quadruples their wealth while everyone else suffers, along with the country, they're not paying their fair share, dupes. And being able to afford a tax lawyer shouldn't make so much difference. ALL Pubcrappe law, and no tidal wave of BS about the lazy poor will work except for morons or a-holes....Merry Christmas!

Bullshit, jackass.
No myth. MATH

$10 is a higher percentage of $100 than it is $1,000

 

[francoHFW]

#527- Try some research instead of Rushcrappe and ignorant "common sense"...

 

[georgephillip]

The problem is PEW does not distinguish between businesses and individuals.
And even if it did , the point is moot.
PEW furthers the notion of the zero sum game. Which we all know does not exist.
The federal government dispenses those subsidies. Head down I-95 and exit off the Balto Wash Parkway..It's the big white buildings at the end of the highway. File your complaint there.
The real estate bubble and subsequent burst was not caused by "Wall Street excesses.
The source can be traced directly to federal policy and Fannie/Freddie.
I listened to a woman on the radio who once worked for a mortgage company. She said she was about to testify in three court cases regarding mortgages and the fraud that took place during her tenure.
She said that at least one per week an official from fannie/freddie, HUD or FHA was there to insure loans were being made under federal regulations to the "right" people.
In other words ,these lenders were being TOLD by the federal government who they must lend to.
We know all about the federal government guaranteeing the solvency of these subprime loans. The federal government allowed the paper to be bought sold and bought again.
The feds allowed these loans to be packaged together as investments, again with the promise the federal government would back the loans and sold as 'mortgage backed securities'.
The canned message we hear from our friends in Washington and regurgitated by the main stream media and of course those members of the public who just like to be told what to think and say is "Wall Street ruined the country".
The trading of these so called securities were bought and sold at One Wall Street, but the source was once again the federal government.
Yes, our government which is led by people who have not as of yet familiarized themselves with laws of unintended consequences.
PEW and every other alarmist/advocacy group looking for donations is dead wrong here.

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.

 

[bripat9643]

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.