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Kasz216 on 24 November 2011
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richardhutnik said:
Kasz216 said:
richardhutnik said:
With the MF Global fiasco, and congress engaged in soft insider trading they made legal, just curious why anyone would think it wouldn't be appropriate to protest against Wall Street and the corruption going on there.

Because

A) MF Global is how the system should work?  A company takes on too many risky investments, therefore it fails?  What are you suggesting Wall Street should be devoid of all risk?

If your talking about the missing funds transfered to try and cover their own debt.  That was already illegal.  So I don't really see your point.

B) Congressional insider trading isn't wall street.  It's Congress.  If anyone on Wallstreet did what congress people did their looking at a 10 year sentence or more.


If they want to occupy wasington.  Then sure, go ahead.

At LEAST half a billion dollars has gone missing.  This is beyond risky investments, it is out and outright fraud (aka, Corzine would go to jail).  This level of fraud in Wall Street is larger than people would think.  It goes beyond merely taking excesss risks, to outright theft.  Do I need to go and hunt more?

Here:

Koch brothers getting tip off from MF Global, and moved money: 

http://www.huffingtonpost.com/daniel-dicker/the-koch-brothers-and-mf-_b_1089906.html

Robo-signings:
http://www.msnbc.msn.com/id/44365184/ns/business-real_estate/t/robo-signing-scandal-may-date-back-late-s/

http://en.wikipedia.org/wiki/2010_United_States_foreclosure_crisis#Robo-signing_controversy

And more:

http://publicintelligence.net/banks-dont-make-promises/

And more:

http://www.rollingstone.com/politics/news/why-isnt-wall-street-in-jail-20110216

 

In regards to congress and the scandal, there is also not just insider trading, but also sweetheart deals on IPO offerings and other things.

 

Again, you will say there is NO reason to end up staging protests against Wall Street, when fraud after fraud after fraud happens there?


First off... Russia Today?  Seriously?

You do know that's a legitamite propaganda news station right?

While the huffington post article is nothing but outright speculation as far as people being tipped off... done so, because well.... the huffington post is around fox News level "quasi-propaganda."

Thirdly, in regards to the Rolling Stone article...AGAIN it's not an idictment of Wall Street, it's about how SOME people in wallstreet committed crimes and GOVERNMENT refused to punish them.

 

Though... as for your question... should we occupy society because crime happens?

Hell no.

That SOME part of some group is committing crimes is no reason to protest the entire group... or even part of it.

Crime happens.  If the crime isn't properly punished?   You take it up with the politicians.