With the Occupy Wall Street Movement going global today, it will be interesting to see just what our politicians will do about it. Already democrats and republicans alike are making statements to the effect, "they understand the frustration".
Could the movement be too large to ignore, too big to be allowed to fail.
Does that ring a bell? Yeah, me too. Those banks which manipulated the markets, lied to investors, created paper wealth, loaned without normal protocol, and nearly destroyed the US economic stability, bailed out in the end. The Feds continue to manipulate interest rates, maintaining insanely low returns on savings, while encouraging long term loans at teaser rates. Let the market right itself, that's how capitalism works.
Not that all banks are bailed. The small hometown banks which made stupid loans without sufficient collateral are being taken over by larger banks. They had way too much debt compared to assets. Hey, if you can't run the ship, get a better captain so we all don't sink. I got my stuff in that boat!
Ok, so if http://news.yahoo.com/wall-street-sit-goes-global-saturday-105459242.html
this Protest Movement truly gets a foothold, and the message becomes clear, we can hope, yes that nebulous state of optimism, for real reform.
I just haven't sat down long enough, or dreamt large enough, to come up with real solutions myself.
Too Big to Fail
7:03 AM |
Labels:
occupy wall street?
Subscribe to:
Post Comments (Atom)






0 comments:
Post a Comment