tag:blogger.com,1999:blog-30354654.post7357863103142951884..comments2023-07-31T04:12:15.594-07:00Comments on Random Thoughts: The 99%stuartresnickhttp://www.blogger.com/profile/16879896068458013439noreply@blogger.comBlogger18125tag:blogger.com,1999:blog-30354654.post-88511240478004103482011-11-11T14:26:50.565-08:002011-11-11T14:26:50.565-08:00Okay, now at least we're getting somewhere con...Okay, now at least we're getting somewhere concrete...<br /><br /><i>"1. Reinstate the Glass Steagall Act, separating investment banks from commercial banks."</i><br /><br />I'm not sure I agree that this will solve or improve anything. Many economists predict that doing so will just drive more capital into the "dark pool" trading, i.e. the making of non-public deals.Doughttps://www.blogger.com/profile/17877698540296040262noreply@blogger.comtag:blogger.com,1999:blog-30354654.post-33241298339089960922011-11-10T20:20:00.122-08:002011-11-10T20:20:00.122-08:00"A poster who wouldn't even give his name...<i>"A poster who wouldn't even give his name..."</i><br /><br />OK, you apparently don't want me posting here. Fine, it's your blog.<br /><br />Goodbye.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-30354654.post-60832532461527535852011-11-10T15:46:49.301-08:002011-11-10T15:46:49.301-08:00A poster who wouldn't even give his name wrote...A poster who wouldn't even give his name wrote:<br /><i>1. Reinstate the Glass Steagall Act, separating investment banks from commercial banks.<br />2. Pass the Volcker Rule, prohibiting the banks from speculative investments using their customers' money.</i><br /><br />Of the people marching downtown, shouting "We are the 99%!," trying to close down business... what percentage stuartresnickhttps://www.blogger.com/profile/16879896068458013439noreply@blogger.comtag:blogger.com,1999:blog-30354654.post-60963509336862298732011-11-10T10:10:51.973-08:002011-11-10T10:10:51.973-08:00Specifics are easy.
What laws need to be change...Specifics are easy. <br /><br />What laws need to be changed, for starters:<br /><br />1. Reinstate the Glass Steagall Act, separating investment banks from commercial banks.<br /><br />2. Pass the Volcker Rule, prohibiting the banks from speculative investments using their customers' money.<br /><br />3. Raise margin requirements for large banks.<br /><br />4. Constitutional amendment to Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-30354654.post-53186761901421056402011-11-07T12:13:32.284-08:002011-11-07T12:13:32.284-08:00Anon, if you're still with us, what I find har...Anon, if you're still with us, what I find hard to understand is what <b> specifically</b> you want done. You use the phrase "do something" several times, and you offered:<br /><br />"We want the DOJ, the SEC, and other regulatory agencies to DO SOMETHING ABOUT THE GODDAMN FRAUD AND CORRUPTION. And we want our politicians to pass real regulatory reform laws that will prevent Doughttps://www.blogger.com/profile/17877698540296040262noreply@blogger.comtag:blogger.com,1999:blog-30354654.post-483733490005860992011-11-03T11:23:58.175-07:002011-11-03T11:23:58.175-07:00anony wrote...
So go ahead and form a bloc of high...anony wrote...<br /><i>So go ahead and form a bloc of high-minded, intellectually-vetted, infinitely-rational voters</i><br /><br />Mocking rationality and high-mindedness doesn't bode well. When people celebrate anger and herd mentality, while denigrating productive success and human intelligence, I don't expect it to lead to good things.stuartresnickhttps://www.blogger.com/profile/16879896068458013439noreply@blogger.comtag:blogger.com,1999:blog-30354654.post-4969374564305262572011-11-03T11:13:52.796-07:002011-11-03T11:13:52.796-07:00Ahh! It's finally all coming together:
http:/...Ahh! It's finally all coming together:<br /><br /><a href="http://www.minyanville.com/dailyfeed/2011/11/03/mtv-looks-for-ratings-gold" rel="nofollow">http://www.minyanville.com/dailyfeed/2011/11/03/mtv-looks-for-ratings-gold</a>stuartresnickhttps://www.blogger.com/profile/16879896068458013439noreply@blogger.comtag:blogger.com,1999:blog-30354654.post-21088111135332228222011-11-02T21:14:00.947-07:002011-11-02T21:14:00.947-07:00You know Stuart... democracy is a messy process. ...You know Stuart... democracy is a messy process. Sometimes you have to stand together with others -- others you might not agree with 100%, but people who are sort of heading in the same general direction you are. Because there's power in numbers.<br /><br />But you disagree apparently. So go ahead and form a bloc of high-minded, intellectually-vetted, infinitely-rational voters, only those Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-30354654.post-78904946449957718402011-11-02T18:54:54.157-07:002011-11-02T18:54:54.157-07:00Anony wrote...
The point is that people want the g...Anony wrote...<br /><i>The point is that people want the government to do something about it. The "mob" (what a loaded term) is not proposing to bring the prosecutions themselves; they want the DOJ, the SEC, and other regulatory agencies to do their jobs.</i><br /><br />If there are people who want to influence how the Department of Justice etc operates, and they feel that rather than stuartresnickhttps://www.blogger.com/profile/16879896068458013439noreply@blogger.comtag:blogger.com,1999:blog-30354654.post-10806376568437852912011-11-02T12:30:28.881-07:002011-11-02T12:30:28.881-07:00"When people have anger but lack a deeper und...<i>"When people have anger but lack a deeper understanding of the issues, I don't share your belief that it's a helluva good thing for them to take to the streets."</i><br /><br />Well on the issue of financial fraud and political corruption, they happen to be right.<br /><br />Besides, it's not like they're out lynching people or burning down buildings.<br /><br />This Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-30354654.post-55892904185822834942011-11-02T11:52:10.242-07:002011-11-02T11:52:10.242-07:00"When dealing with the deadly serious matter ...<i>"When dealing with the deadly serious matter of punishing people, locking them up in jails etc, I'd much prefer it be handled by knowledgeable people who weigh facts in a sober, objective way to determine if an individual has broken a specific legal statute."</i><br /><br />The point is that people want the government to do something about it. The "mob" (what a loaded Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-30354654.post-27465893496673928012011-11-02T10:29:20.328-07:002011-11-02T10:29:20.328-07:00While I want to make commenting easy for anyone, I...While I want to make commenting easy for anyone, I really wish people would give a name or Google identity or personal URL when they post. As anyone familiar with the internet or real-life mobs knows, anonymity often breeds bad behavior.<br /><br />Anony wrote...<br /><i>the details of the problems are also quite complicated, and not everybody gets the benefit of a quality education in life. So Istuartresnickhttps://www.blogger.com/profile/16879896068458013439noreply@blogger.comtag:blogger.com,1999:blog-30354654.post-90679813109485538512011-11-01T20:26:26.686-07:002011-11-01T20:26:26.686-07:00What does OWS want?
Grand Juries.
Subpoenas.
In...What does OWS want?<br /><br />Grand Juries.<br /><br />Subpoenas.<br /><br />Indictments.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-30354654.post-90670095296575999772011-11-01T18:21:45.803-07:002011-11-01T18:21:45.803-07:00It isn't accurate to paint the protesters with...It isn't accurate to paint the protesters with a single broad brush, e.g. "socialists". It's no better than painting the "1%" with a single broad brush, which is what you are apparently objecting to.<br /><br />Some of them are socialists, but a lot of them are not. There are quite a few who have enough sophistication to understand the problem.<br /><br />But the Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-30354654.post-89754376290767596322011-11-01T17:30:15.295-07:002011-11-01T17:30:15.295-07:00Anony wrote...
The anger is over corruption and fr...Anony wrote...<br /><i>The anger is over corruption and fraud... OWS wants these people brought to justice.</i><br /><br />One possibility is that Occupy Wall Street protests are filled with people who have seriously studied the law and financial system, and thus have a superior understanding of who has committed crimes like fraud and how they should be punished, so as to deter future wrongdoing.stuartresnickhttps://www.blogger.com/profile/16879896068458013439noreply@blogger.comtag:blogger.com,1999:blog-30354654.post-75771838298694215152011-11-01T12:02:48.185-07:002011-11-01T12:02:48.185-07:00While some OWSers are socialists, most that I know...While some OWSers are socialists, most that I know are capitalists. No, they don't want to eliminate rich people or institute socialism.<br /><br />The anger is over corruption and fraud. "Corrosive power" means that banks and multinational corporations have near-total control over politicians and the financial regulatory agencies that are supposed to keep fraud in check. <br /><Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-30354654.post-84921515200915176952011-10-31T19:31:57.277-07:002011-10-31T19:31:57.277-07:00How is that a principle?
I understand where the d...How is that a principle?<br /><br />I understand where the discontent is coming from. Unemployment is high, people are suffering, struggling, sure, I get it. But these protesters... what do they want changed? The 1960's civil rights protests were against the nebulous concept of racism, but they also had specific, tangible aims: end segregation in schools & services, strike down Jim Doughttps://www.blogger.com/profile/17877698540296040262noreply@blogger.comtag:blogger.com,1999:blog-30354654.post-23426091867424850162011-10-29T20:51:14.630-07:002011-10-29T20:51:14.630-07:00Well, here's the principle as stated on the OW...Well, here's the principle as stated on the OWS website:<br /><br />#ows is fighting back against the corrosive power of major banks and multinational corporations over the democratic process, and the role of Wall Street in creating an economic collapse that has caused the greatest recession in generations.<br /><br />Does that work for you?Anonymousnoreply@blogger.com