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View Diary: Wall Street might not be growing tulips, but it's still spreading manure (153 comments)

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  •  This is exactly what is so offensive about the (24+ / 0-)

    smug coverage of the OWS movement.  The whole "those silly hippy children don't understand the real world or even how this hallowed institution works" is exactly what they want to continue to promote.  The notion that somehow there is something more to their credit default swaps than musical chairs with money.  When in fact even the traders (probably the tulip traders as well) never understood the complexities of the trades they were making.  All that was necessary was to understand enough to sell your load of manure to someone else and make your bonus doing so.  Those bonuses aren't paid because the product is a good and healthy one.  They are paid when someone unloads their risky investment onto someone else.

    •  What Wall Street does doesn't need "demand" (5+ / 0-)

      Wall Street traders/manipulators are "gaining" and pretty much unaffected by this horrible economy we're in currently and earning big money while just so many are suffering.  Reason is because they don't deal in a product that needs demand...needs a populace out there that is buying their product.  They kind of create their own product/demand, so to speak, within their own element.

      I really don't have a problem with that because it's what's been going on for eons there.  What I DO have a problem with is the lack of tax revenue our government is realizing from these folks...the firms they're associated with.  Time this part of the tax code be modified...and modified in a big way.  

      - If you don't like gay marriage, blame straight people. They're the ones who keep having gay babies.

      by r2did2 on Sun Oct 02, 2011 at 06:40:21 AM PDT

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      •  That and the lack of regulation (10+ / 0-)

        When the profit for the individual comes at the beginning of the transaction there is too much incentive for lies and distortion about the safety of the transaction.  So there has to be regulation.

        •  The whole mindset has to change (7+ / 0-)

          This is what has to be changed in America today.  The mindset that America is best served by a "free" market that has little-to-no regulation.  It is what has gotten us into our current dilemna in many ways.  We have to have a very big change around away from "traditional" economic free-market beliefs.  If we don't, the wealth divide in this country can do nothing but grow greater and greater.  

          - If you don't like gay marriage, blame straight people. They're the ones who keep having gay babies.

          by r2did2 on Sun Oct 02, 2011 at 06:58:01 AM PDT

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          •  It's dilemma- (0+ / 0-)

            There is a firefox plugin to help with typos unseen till "post" is hit...

            The current dilemma has been brought about by widespread collusion in the finance market industry and the branches of government in place to guard against such cirrhosis of free societies and their righteous markets-

            Evidence that contradicts the ruling belief system is held to extraordinary standards, while evidence that entrenches it is uncritically accepted. -Carl Sagan

            by RF on Sun Oct 02, 2011 at 07:11:59 AM PDT

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            •  I'm sorry I didn't get your point (0+ / 0-)

              Did you agree or disagree with the diary or the post?

            •  Guilty on the "dilemma" word :-) (2+ / 0-)
              Recommended by:
              blueoasis, stellaluna

              Not sure about that "collusion"....that one wasn't mine.

              For me, the firefox plugin wouldn't have helped because I believed it was supposed to be "dilemna".  Now ya know why I was always the first to sit down in spelling bees when I was in school. :-)

              But, thanks for the heads up.

              - If you don't like gay marriage, blame straight people. They're the ones who keep having gay babies.

              by r2did2 on Sun Oct 02, 2011 at 07:32:36 AM PDT

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      •  Your saying your fine with modern day collusion- (1+ / 0-)
        Recommended by:
        caul

        Evidence that contradicts the ruling belief system is held to extraordinary standards, while evidence that entrenches it is uncritically accepted. -Carl Sagan

        by RF on Sun Oct 02, 2011 at 07:06:59 AM PDT

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    •  Part of the problem is that OWS... (3+ / 0-)
      Recommended by:
      caul, opinionated, mightymouse

      ...has failed to provide the media with a simple statement of what they're fighting.

      Instead, they're issuing crap like that 27 point laundry list of goals that was prominently posted here on DKOS yesterday.

      Short, succinct, and clear messages get repeated by the news media.  Lengthy proclamations get ignored.  OWS has served up the latter, which means that the media ignores the message and just focuses on the behavior, effectively turning it into a purposeless protest in the reportage.

      That may not be right (the media should do a better job, after all), but it was predictable.

      Political Compass: -6.75, -3.08

      by TexasTom on Sun Oct 02, 2011 at 07:42:40 AM PDT

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