Congress enables greed

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A majority of people in the Occupy Wall Street movement are scared and confused, not knowing really how to vent and focus their frustrations.

Blaming the financial industry for the country’s present economic demise is really only half the issue. Bank policies; hedge fund managers’ manipulation of the free market; the creation of exotic derivatives, etc., could not function if not for congressional legislation by both House and Senate finance and banking committees.

Finance industry lobbyists who control the motivation of both parties’ legislatures passed laws allowing our present economic demise. Only a fool doesn’t realize the present governmental/financial system is in place to benefit the wealthy.

A truly representative government concerned about the welfare of the masses of Americans who can’t afford to make a campaign contribution has long gone the way of the dodo bird. Communism, terrorism, immigration or whatever bogeyman is created to threaten this nation’s prosperity is a phantom excuse.

Our own penchant for greed, and allowing the deep stratifications of wealth distribution through limited access, will be our demise. “Let them eat cake!” Only this time the masses won’t be able to afford the cake batter!

Rodney Hindrew

Martinez

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Insider Information
4009
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Insider Information 10/30/11 - 10:16 pm
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Yup, you're right. We just

Yup, you're right. We just need more regulation. Congress is our savior. Government can save us.

Lest we forget how many DAYS it took our government to perform the simple task of delivering water to the Super Dome after Katrina.

If you're waiting for the government to save you, you're going to be waiting for a long time.

desertcat6
1140
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desertcat6 10/31/11 - 01:49 am
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Wrath, sloth, and envy are

Wrath, sloth, and envy are sins just as deadly as greed and gluttony.

carcraft
27889
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carcraft 10/31/11 - 04:29 am
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Federal Government Wall

Federal Government Wall Street regulators sat around and watched porn while Wall Street Burned. Yes we need more of those type of folks, if we get enought we can....well watch more porn!

TParty
6003
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TParty 10/31/11 - 06:50 am
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I believe Stephen Colbert

I believe Stephen Colbert responded to this question quite well when Herman Cain suggested these "poor people" who "can't find a job" should be out in front of the White House instead of Wall Street.

He says, "Yeah, unemployed, you should be out in front of the White House blaming yourselves for not having a job. May I remind you, Wall Street has not cratered our economy in like two years! That's ancient history. At this point, who can remember who took worthless sub-prime mortgages and knowingly bundled them as mortgage-derivatives so they can be sold, re-bundled and resold to pension funds and banks around the world; until, because this entire scheme was a castle made of sand, it inevitably collapsed, annihilating seventeen trillion dollars, a national economy, centuries-old financial institutions, and the lifesavings of untold millions of Americans? I can't remember."

Occupy Wall Street is not simply about Congressional financial reform, but also about corporate greed and basic business ethics. Marching in front of Congress is a generic form of protest, while portraying levels of civil disobedience this way gets far more attention nation and world-wide. Washington D.C. has its own Occupy section, but the point is that this movement is meant to not only spur politicians into action, but drive at the heart of corruption in all major business areas. The terrible actions that destroyed a majority of the U.S. economy and world economy cannot be tolerated. Those that caused this meltdown need to be identified as do any politicians that have hid/defended/or excused these individuals. This movement means more than simply unemployment or financial reform.

seenitB4
93819
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seenitB4 10/31/11 - 09:05 am
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If we have such "tight"

If we have such "tight" regulations could someone please tell me how Bernie Madoff got away with his scheme for sooo many years....
He doesn't look that clever to me....

dichotomy
36291
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dichotomy 10/31/11 - 09:08 am
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The more things that are

The more things that are "done" to correct our economic problems, the worse it will get. The biggest problem is that we have "done" too much already. This whole thing started with the government "doing" something to help the poor" by forcing banks to give mortgage loans to people who could not possibly pay for them. The banks knew these loans would fold the first time there was the slightest blip in the economy. That forced the banks to come up with a way to get them off of their books. That started a house of cards that was bound to fall eventually and it was government policy "to help the poor" buy houses that started it. What we need is for the government to quit interfering and quit over regulating EVERYTHING and let businesses do what they do without having to resort to sneaky stuff to get around idiotic government policies and regulations. As for sharing the wealth, I think that is fine as long as it is accompanied by sharing the WORK and sharing the TAXATION. Most of those who are hollering to share the wealth don't want anything to do with the other two things.

Riverman1
90742
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Riverman1 10/31/11 - 09:09 am
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What messed up the American

What messed up the American economy was government in a misguided attempt to uplift everyone guaranteeing things for those who couldn't pay the bills. It happens every few decades in many ways.

seenitB4
93819
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seenitB4 10/31/11 - 09:18 am
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riverman.....In your humble

riverman.....In your humble opinion what do you think brought us out of the Great Depression??..(besides the war)

Chillen
17
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Chillen 10/31/11 - 09:25 am
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Stop the government to save

Stop the government to save our economy. Government should protect us from intentional harm & fraud and also provide a military (not a world wide police force).

That's it.

They are ruining this country and capitalism. It is 100% intentional.

augusta citizen
9955
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augusta citizen 10/31/11 - 09:28 am
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What dichotomy and Chillen

What dichotomy and Chillen said!!

Riverman1
90742
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Riverman1 10/31/11 - 09:37 am
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SeenItB4, I don't know. Time?

SeenItB4, I don't know. Time? What do you think? Economic cycle finally ran it's course and the period of austerity made up the time of excess in the 20's? Things have to balance out.

Our problem is we let the excesses get out of hand with every tinhorn flipper thinking he can be a millionaire buying and selling houses. Everyone borrowing more than they can payback to maintain a lifestyle when they can't afford it. Nothing goes up forever.

seenitB4
93819
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seenitB4 10/31/11 - 10:21 am
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Somehistory... What we saw

Somehistory...

What we saw during the New Deal Era was a fake recovery, much like we are seeing now. It wasn’t until capital was allowed to reset, in spite of the New Deal, that real investment and subsequent production of real wealth returned. The problem is that we have been left with this legacy of economic manipulation that is ultimately making us poorer. When government intervenes and acts outside of its Constitutionally limited role, it takes wealth, whether from the present through taxes or the future through debt and diverts it as a central planning agent. This diversion of capital causes booms and busts, like what caused the housing bubble that burst in 2008.

River...I feel the same way---cycles of the economy have to play out in the real world.....it happens many times over & over....like you said nothing stays up forever ...
But there is one thing I noticed from history---positive leaders like Reagan & Roosevelt lift the American spirit & give hope to the hopeless...their voice-their smile--their sense of confidence --good outlook for the future helps the economy...I think that is what some see in Cain right now....a smiling leader with a lot of charisma.....that goes a long way.
Have you ever noticed that people are attracted to the smiling faces & laughter in a crowded room .....we all want happiness in life......a great sense of humor is worth more than gold..aren't you glad you have "it".:)

allhans
24522
Points
allhans 10/31/11 - 10:39 am
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seenitB4.."Have you ever

seenitB4.."Have you ever noticed that people are attracted to the smiling faces & laughter in a crowded room .....we all want happiness in life......a great sense of humor is worth more than gold..aren't you glad you have "it".:)"

And this is the number one reason employers hire Hispanics.. they will give you 12 hours (good hours) a day if necessary and smile and thank you for the opportunity.

seenitB4
93819
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seenitB4 10/31/11 - 10:46 am
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I know allhans....I have seen

I know allhans....I have seen that with my own eyes...:)

Our people have been"programed" in so many ways ...that the world owes THEM......tv-media plays a big part of that.

Riverman1
90742
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Riverman1 10/31/11 - 11:37 am
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SeenIt at 11:21, well said.

SeenIt at 11:21, well said. We need optimism.

harley_52
25117
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harley_52 10/31/11 - 06:30 pm
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I think Mr. Hindrew has it

I think Mr. Hindrew has it mostly right. He says "Bank policies; hedge fund managers’ manipulation of the free market; the creation of exotic derivatives, etc., could not function if not for congressional legislation by both House and Senate finance and banking committees."

He's right. The root of the problem is the politicians who swear to uphold the Constitution and forget that oath once elected.

Bankers, by nature, don't make bad loans. They only loan money to customers who they are confident will pay them back, with interest. When Congress inserts itself into the market by guaranteeing loans and applying pressure to the banks to make the guaranteed loans without regard to customer ability to repay the loans the system is destined to fail.

rmwhitley
5547
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rmwhitley 10/31/11 - 07:56 pm
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Ask barney frank, chris dodd
Unpublished

Ask barney frank, chris dodd and slick willie how this financial crisis began. Minorities crying for loans with beacon scores ( numbers used to indicate credit worthiness ) in the 400 to 500's range with no hope of repaying, sreamed racism, bought homes, vehicles, electronics as though it was Christmas. When it came time to repay, racism was their mantra. Civil Rights Act of 1964 and Voting Rights Act of 1965 were the justification. Just because you reach the age of 18 does not a resposible adult make. Those two (2) pieces of legislation will force America into bankruptcy. Thank you aclu and national association against caucasian people.

CobaltGeorge
170599
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CobaltGeorge 10/31/11 - 09:12 pm
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Hey Chillen, we are on the

Hey Chillen, we are on the same brain wave!

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