If your life is bad, who is most at fault: YOU, a corporation, the government?

[Contumacious]

I'm part of the 99%, but on the low end. I graduated HS, and have some college, I also sevrved in the military during Desert Storm. I have no criminal record and I am madder than hell at my circumstances. !

Did anyone teach along the way that neither the government, the taxpayer nor the corporations owe you a living?

That it is YOUR SOLE RESPONSIBILITY to support yourself?

 

[LoneLaugher]

I'm part of the 99%, but on the low end. I graduated HS, and have some college, I also sevrved in the military during Desert Storm. I have no criminal record and I am madder than hell at my circumstances. !

Did anyone teach along the way that neither the government, the taxpayer nor the corporations owe you a living?

That it is YOUR SOLE RESPONSIBILITY to support yourself?

You don't support yourself. Nobody does.

 

[WatertheTree]

Except for AIG, I'd bet your examples made money on derivatives.
The crash wasn't caused by derivatives, it was caused by defaulting mortages.
And worsened by attacks on the banks after.

This is what a pimple on the ass of common sense looks like.

The crash was caused by derivatives? Please explain further.

Derivatives are more or less bundles of loans made by different banks. They would bundle say 100 mortgages together, and then look for investors to 'buy the debt'. It was a way to trade in debt, brokers made huge profits taking debt that banks owned and selling it to A) Ignorant people who believed ratings given by people who profit more the more that is sold B) The taxpayer through fanny and fredie thanks to a 100% corrupt government

So you have more and more derivatives cause a bank can write loans risk free by just bundling the loan into a derivative and then having gulibul people with savings buy the snake oil. Were talking about people activly buying and selling debt and trading in it, much the same manner as enron trading in energy futures. Making money hand over fist while contributing nothing to the market except enabling it to inflate. Drives up the prices of anything banks lend for because agian they were loaning reletively risk free.

The dirivative market has partially fallen already, thats what the bank bailouts were for, they needed money so they could 'clear the debt' without going bellyup, which would have cause all investors to belly up and so on and so forth. But the bottom line is the debt is not cleared, it is still sitting on an institutions books be the government banks or insurance company's, or the peoples retirements.

Thats what people are pissed about, is that there has been no justice for this crime. The purpatrators did not even have the free market punishment of bankruptcy to deal with, they manipulated the government to dump it on the taxpayer.

So to put it all in one sentence a derivative is a vehicle that banks use to make huge profits giving out loans, keeping the profit, and dumping the risk on the taxpayer and the public.

 

[WatertheTree]

I'm part of the 99%, but on the low end. I graduated HS, and have some college, I also sevrved in the military during Desert Storm. I have no criminal record and I am madder than hell at my circumstances. !

Did anyone teach along the way that neither the government, the taxpayer nor the corporations owe you a living?

That it is YOUR SOLE RESPONSIBILITY to support yourself?

That is misleading. What your saying is that the government has zero control over well accepted economic laws such as supply and demand, law of diminishing returns etc. This is false, infact protection of the free market is the responsability of government.

Unfortunatly government is a failure. The reason we have economic problems is because we have no jobs, we have no jobs because we have no need for jobs, we dont have a need for jobs because corporate america can make more money moving jobs overseas and then importing us the crap to buy.

Government should be ensuring that a corporation is better off producing here, then over there. They have failed the public and there oaths of office so wall street can make more money.

So while your argument holds water, that it is his responsability, it does not hold water considering how far away from a free market, where jobs are plentifull, we are. Couple those facts with the fact that money is kept in a short supply compared to debt and I have nothing but sympathy for the poor.

 

[Toddsterpatriot]

This is what a pimple on the ass of common sense looks like.

The crash was caused by derivatives? Please explain further.

Derivatives are more or less bundles of loans made by different banks. They would bundle say 100 mortgages together, and then look for investors to 'buy the debt'. It was a way to trade in debt, brokers made huge profits taking debt that banks owned and selling it to A) Ignorant people who believed ratings given by people who profit more the more that is sold B) The taxpayer through fanny and fredie thanks to a 100% corrupt government

So you have more and more derivatives cause a bank can write loans risk free by just bundling the loan into a derivative and then having gulibul people with savings buy the snake oil. Were talking about people activly buying and selling debt and trading in it, much the same manner as enron trading in energy futures. Making money hand over fist while contributing nothing to the market except enabling it to inflate. Drives up the prices of anything banks lend for because agian they were loaning reletively risk free.

The dirivative market has partially fallen already, thats what the bank bailouts were for, they needed money so they could 'clear the debt' without going bellyup, which would have cause all investors to belly up and so on and so forth. But the bottom line is the debt is not cleared, it is still sitting on an institutions books be the government banks or insurance company's, or the peoples retirements.

Thats what people are pissed about, is that there has been no justice for this crime. The purpatrators did not even have the free market punishment of bankruptcy to deal with, they manipulated the government to dump it on the taxpayer.

So to put it all in one sentence a derivative is a vehicle that banks use to make huge profits giving out loans, keeping the profit, and dumping the risk on the taxpayer and the public.

Bundled mortgages are not derivatives, they're bonds. Try again?