By reorganized I mean allowed to go bankrupt and break up in a controlled fashion rather than a situation where everyone rushes to the exit. Also having legislation that don't allow banks to control more than a set percentage of the market would be another necessity.
I don't think you really understand how corporations work. Please bump them for me and I will read them. You seem very passionate and if you have worthwhile information to share I will read it.
uproared we much haftin' be. 'cause, you know. Spoiler <iframe width="1280" height="720" src="http://www.youtube.com/embed/OW56Z-0xwIQ?rel=0" frameborder="0" allowfullscreen></iframe>
The marine I mentioned in my last post has a fractures skull and is critical condition. Hit with a tear gas canister. He served two tours in Iraq. And now he may be brain damaged from police in the USA. Because he was protesting inequality and war. http://t.co/e0CCxnwm
Yeah I'm excited. I home sick, taking a lot of steroids and drinking coffee. But I do think this is a make or break point in history, not huge rapid change but a tipping point of public sentiment. Somewhere earlier today I said I think the first real repercussions won't show up until the 2014 congressional elections; sort of the antithesis of the tea party in 2010. Here's Rhad's: http://www.newscientist.com/article...e-capitalist-network-that-runs-the-world.html The full story in pictures: http://www.businessinsider.com/what-wall-street-protesters-are-so-angry-about-2011-10?op=1 Max's Taxes http://www.businesspundit.com/25-corporations-that-pay-less-taxes-than-you-do/
First, Wall Street is getting picked on because it is a metaphor for the concentration of wealth and power in this country. It is also a physical place in a global media center which can be "occupied" and draw attention to these issues. Second, doctors didn't collapse the global economy.
tin soldiers, Obama's coming we're finally on our own. this autumn i hear the drummin' tear gassed in east bay, yo!
more great minds. <iframe width="1280" height="720" src="http://www.youtube.com/embed/0Ynd8kDk5Dw?rel=0" frameborder="0" allowfullscreen></iframe>
Tell me whenever a doctor poisons his patient, then takes a life insurance premium on him, that's pretty much what certain traders did in 2008.
I saw this earlier and I was looking for more info on it, since the corps near the top of the list are certainly not given as much weight in terms of market cap since the market has crashed. Anyhow, I think you are are falling in love with headlines too much. Yes, these financial institutions are highly connected and do have a lot of the world's wealth in deposited with them, however I think their ability to control the world is highly questionable. Look for the financial sector's "control" of things to decline further over the next decade. I thought the end of this article was interesting. I agree there are many issues that need to be addressed by government here. I've said the major things I want done over the past couple pages. Max's Taxes http://www.businesspundit.com/25-corporations-that-pay-less-taxes-than-you-do/[/QUOTE] This is another sensational story. American companies paid the 6th highest tax rate in the world from 2006-2009 at 27.7%. http://www.bloomberg.com/news/2011-...rld-s-sixth-highest-tax-rate-study-finds.html Secondly, back to corporate taxation and the plumber reference I made...you do understand that you have to pay taxes on money you make, right? Loopholes don't always exist. If they don't exist you pay. I have a corporation. Any money I get paid out from it is taxed at my personal income tax rate. Any money my friend and business partner get paid out is taxed at his income tax rate plus a self employment tax he has to pay. I think this self employment tax is bs, but whatever. If we have extra money leftover after paying payroll, expenses, insurance then the corporation pays its corporate income tax and that money goes in a corporate bank account. Yeah you can use the corp to pay for some expenses, but you will get audited if you start racking up too many non-business expenses. I know you have this sensationalized view of corporations being these magical tax havens, but that simply is not reality.
Certain traders? The traders that used lots of leverage and too much risk got blown out. Bear Stearns, Lehman, CDO Hedge Funds and all lost billions of dollars. Employees lost most of their net worths, their jobs and any self-respect. TARP was paid back and has made money (though still losing on GM and some outstanding) and AIG may actually lose less than expected. So if the most reckless firms went bankrupt, sold at huge losses (Merrill) and thousands of employees lost jobs. What else do you want from them???? Public hangings? Beheadings? 20% of all of Bear Stears stock was owned by its employees. That means thousands of employees lost their jobs, and everything they have. Wall St. has shrunk, layoffs are high, there are limits on leverage and lots of people are out of work and hurting. I'm not sure what else people want. The system we have here is the greatest creator of wealth and innovation in the history of the world, but greed is a human emotion and greed at times of excess trumps logic and people make bad mistakes. This can't be regulated, as the next bubble will be different than this one. I agree with re-instituting the net capital rule, which limits leverage for all size companies and especially those that get an implicit government backing through FDIC.
I mean have most you people seen the stock prices of Citigroup, Bank of America and all these institutions?? Most these people make most their money in stock options that are all worthless. Retirement planners and financial advisors that leave one firm for another are paid in stock, these people help Americans retire and don't trade mortgage securities. There are millions of jobs that are adversely affected and the industry at the epicenter has been hit the worst and theres thousands of people with the same resume out looking for a job. The 'bankers' have lost more than anybody, and probably rightfully so. Its just sad that no one wants to look in the mirror and see that we all had some part in this and should receive the respective pain.
Yup, people only saw 700 billion bailout and wanted a piece of it. Shame on their greed. Have the bankers really lost anything? I heard they actually did very well in this bad economy. There must be some new stats on it?
<iframe title="MRC TV video player" width="640" height="360" src="http://www.mrctv.org/embed/106909" frameborder="0" allowfullscreen></iframe>
Do you know how many times since the United States was founded did a government have to supply liquidity to the banking system? Its a lot. A bank is a failed institution because its based on taking in short-term deposits (your paycheck which you can withdraw anytime) and making long-term loans. Banks are subject to a force called contagion. If we're talking about losses, the biggest loser to American taxpayers is not TARP (which is on track to lose very little), but Fannie Mae and Freddie Mac. These two institutions have cost US taxpayers hundreds of billions of dollars and exposed us to 6 trillion in mortgage debt? If the taxpayer was screwed it was by these institutions.
I'm sure whoever is left has done alright but thats because many, many firms have been wiped off the map. Many have left the industry, are unemployed or have gone back to school as the demand for them has cratered.
