Occupy Wall Street

With housing so expensive, people can't afford to live anywhere other than a shit hole or somewhere they had to mortgage. They loaned out money they knew wouldn't be able to be paid back and foreclose on the homes when the people can't make the payments. They then have the house and all the money the person paid on it up until that point. Yes it's the people's fault, but it is almost equally the banks fault for knowing from the start. It's not just a couple people who made the mistake, it's well over a million and one of the few common factors of them all is the banks that loaned them all the money.

I understand what you're saying about people buying things they can't afford. The thing I see is that it's impossible to live like your "average person" in this country without owing money to a bank. It's a very flawed system. And as I pointed out in my previous post, it's basically a viscous circle that can only be stopped by those involved that have all the money. But they won't stop it because it benefits them.

 

That's what many of the protesters are protesting about anyway.

The government and the business world are closely intertwined, so stop present ing the false distinction between protesting against either one or the other.

 

Someone is obviously a Fox news advocate.

But yeah, they're protesting the wrong thing, They should be protesting the government not the banks.
The government (if we're talking about it as a whole) is the reason why we're in a recession.
They could've let the banks go under and new ones would've risen, but "smart" leaders decided "Hey, We'll give you loans."

As for the banks paying back their loans to the government,
When?
They've payed back VERY LITTLE.

 

Such ignorance, tsk, tsk. Bailouts aren't anything new - they've occurred many times in recent US history. Oh and a basic amount of research could tell you that the loans have been mostly paid back and are on track to pay the rest.

http://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program

 

Not all banks have paid back their loans, but over all the government and therefore the taxpayers have MADE money on their loan to the banks.

 

The fault is the banks and major corporations. Special interest groups run the government.

There wasn't this whole lending issue until the 70's. Wages stopped rising (artificially, corporations just wanted to make more money), and the working class started having to borrow huge amounts of money from the bank just to pay the bills.


I don't hate people who have money. I've grown up on nantucket and 72nd and park. However, I have perspective (protip: get some)


OWS isn't only against big corps, its also against the influence of big corps in gov't. We're all fed up with special interest groups running our government, and subverting the democratic process.

While higher taxes on the rich will certainly change their way of life, i'd rather the ultra-wealthy not be able to get 5th home than 30 people have their house foreclosed on.

 

I like that they are fighting against the corruption, but I'm not sure if I like what they are fighting for , if that makes any sense.

I usually subscribe to libertarian views, if that could give you any insight to my opinion, honestly I think I need to learn more about the subject.

 

Me too, but if people know they're going to be given money if they are foreclosed on, they might stop working. This is the reason why communism/socialist systems have consistently worked less well than capitalism.

 

I just saw a dude on a street corner in my small little town. I find it interesting that even my town has been affected by the protest.

 

Yeah, their amount of dollars has went up, but due to the increasing price of goods it doesn't make a difference to your everyday person.