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Occupy Wall Street Protests Go Global

Hugh Pickens writes "Tens of thousands of people around the world took to the streets Saturday to reiterate their anger at the global financial system, corporate greed and government cutbacks, with rallies held in more than 900 cities in Europe, Africa and Asia. 'United in one voice, we will let politicians, and the financial elites they serve, know it is up to us, the people, to decide our future,' said organizers of the global demonstration. The demonstrations by the disaffected coincided with the Group of 20 meeting in Paris, where finance ministers and central bankers from major economies were holding talks on the debt and deficit crises afflicting many Western countries. Crowds around the world were largely peaceful, but the demonstration in Rome turned violent as clashes in the Italian capital left dozens injured, including several police officers. In London, WikiLeaks leader Julian Assange made a dramatic appearance, bursting through the police lines just after 2:30pm, accompanied by scores of supporters. He climbed the cathedral steps near St. Paul's to condemn 'greed' and 'corruption,' and attacked the City of London, accusing its financiers of money laundering and tax avoidance."

31 of 944 comments (clear)

  1. Quick Hitsory Lesson by Anonymous Coward · · Score: 5, Interesting

    Only around 20% of the population were sided against the king during the time America was being formed.

    Why is that relevant? Well it just means that it takes a lot less people than you think to get things rolling.

  2. Excellent article on what's wrong by Deviant · · Score: 5, Informative
  3. Facebook page of the ocw by unity100 · · Score: 5, Informative

    200,000 + people in page, 120 k+ are currently talking about it. its bigger than most politicians' pages. Support is really global, and there are people from all walks of life. Albeit, of course, people who have their dinners in monaco.

    https://www.facebook.com/OccupyWallSt

  4. Re:Assange condemns greed? by jhoegl · · Score: 5, Insightful

    This isnt about Assange and his glory seeking attempts.

    This is about our parents, our grandparents, and our future. Our grandparents and parents because their retirement disappeared when bankers toying with other peoples money failed.

    Us because, as it stands now...we have no guaranteed retirement plan. At any time any idiot can do the exact same thing and take away our retirement.

    Companies are gouging the consumer, stealing from their employees, and then asking them to pay for their own expensive healthcare.

    Not only that, but these same companies are claiming no one wants to work for them and asking for overseas employees.

    This world that has been created by the Corporations has put enough pressure on the lower and middle class. It is time, once again, to tell them "we are tired and we aint gunna take it no more".

  5. I'd say it the other way around by Anonymous Coward · · Score: 5, Informative

    Spanish protests go global. Spanished followed the Arab Srping, then there were protests in many cities in Europe, then Israel, then it was the US, and now the whole world. Don't be that stupid centered.

  6. Re:What's the alternative? by Anonymous Coward · · Score: 5, Interesting

    Stop the fear mongering. The protesters simply want to return to sanity. Between the New Deal and the beginning of Voodoo Economics capital was used to produce actual goods instead of financial bubbles. Why not simply return that? Other main concerns are the inefficient privatized health-care and education system. Changing to a european style public system would solve this. Finally, most of the American infrastructure is crumbling while people are unemployed, why not fix two problems at the same time?

  7. Re:What's the alternative? by Anonymous Coward · · Score: 5, Interesting

    A political system where corporations do not have a seat at the table? A justice system where we get to see the rich and powerful do the perp walk more often? A monetary system that doesn't foster bubbles?

  8. Years of mistaken priorities by Anonymous Coward · · Score: 5, Insightful

    I think 20 years of skewing the system to favor the wealthy while neglecting the majority is finally starting to sink in. It's not that people can't be rich, that there is anything wrong with being rich, or that there is something wrong with capitalism generally. In principle these things are all fine. It is the way that it has been twisted so that every time an economic issue comes up, the majority of people end up paying (bailouts, wage cuts, etc.) while the people at the top manage to skim off an ever-widening fraction. Regular wages barely keep up with inflation or even decline. We're told companies have to remain competitive, which is true, but if that's the case then why have CEO salaries climbed *far* in excess of inflation over the last 2 decades whether there's an upturn in the economy or a downturn? Meanwhile there is a race to the bottom in terms of corporate taxes world-wide, with countries like Ireland luring companies there with exceptionally low rates, then practically going bankrupt the moment there is an economic downturn. Personal taxes go down, but it's a game where the very wealthy get theirs reduced far more than the average Joe. Between corporate tax decreases and disproportionate tax cuts or tax systems that favor the wealthy (capital gains), the middle and lower class ends up shouldering an ever-larger fraction of the total tax burden to run government services, which get cut anyway. Everyone is expected to tolerate "austerity" measures due to a screwed-up financial system that wasn't their fault. Governments cut taxes before paying down debts when times are good (you're supposed to run a surplus in the good times to get rid of the debts so you are ready for the next economic cycle instead of hitting borrowing limits, and so you aren't stealing money from the next generation). The list of grievances is long.

    Look, I like capitalism. Like democracy, it's the least-bad economic system that I think we have. But the simple fact is, this was a grand experiment in "trickle-down" economics. Early on, the results were kind of fuzzy, but the result is now becoming clear to everyone: you can't shaft the majority of workers for a generation and expect that things are going to be fine economically. You also can't say you are running a democracy while favoring the wealthy at every possible opportunity. You can't let money buy such strong influence in politics that ordinary people start believing their vote is worthless. You can't do these things for so long and expect that the system is going to remain sustainable.

    Unless the rich and powerful eventually want to live in medieval-style castles to keep the common peasants out, they're going to have to realize that they need to pay more into the society that they live in, and focus a little less on their own individual wealth. They need to care more about the future of society as a whole, and bring things back to a more sustainable, balanced system like we used to have in western democracies and economies. This is the wake-up call. Heed it, like a democracy is supposed to do when its people speak up, and things will be okay. Ignore it at your peril.

  9. Re:What's the alternative? by omar.sahal · · Score: 5, Insightful

    provide a solid alternative.

    How abut charging bankers with the crimes they have committed.

  10. Re:Assange condemns greed? by Poorcku · · Score: 5, Insightful

    I agree. This is Corporatism at work. But i am saddened to see that the worldview today is so straightforward and simple minded. Sure the Occupy crowd is right, but no one in it mentions that Corporatism can only be "installed" if the Government has no "UAC". We have a big and weak government (the worst kind actually), where legislation which creates Freddie and Fannie (inducting huge market distortions), Housing Acts etc, etc, which do more harm than good. And when the corporations mess up, they get bailed out whereas people have no jobs and no income. No wonder that the Tea Party and the Occupy Wall Street have more than 30% common variance. This is perceived unfairness. One wants the Government out, the other the corporations down. Both are right. And while I agree with you on each and single argument you have there, put one from me on that list: Screw the Government because it is the only one with legislative power and have done nothing but crap with it. Screw them because they have taken away our freedom in the name of defense. Screw them because they are in the same boat with corporations, who in my view want nothing to do a Free Market. All they want is Government protection and consumer gouging. In fact, screw them all.

    --
    I take my children to see Madonna(..), but I never for once ever thought I was in the same business.Chris Rea.
  11. Re:And it will come to nothing. by Anonymous Coward · · Score: 5, Interesting

    There might be some complaining, but nothing will happen.

    Right now your troops are being sacfificed (and sacrificing thousands of civilians in the process) to keep the Job CReators profits flowing, where is the outrage there ?

    Your healthcare system is a joke, yet the worlds most expensive, your educational system is collapsing and is rapidly approaching Third World outputs, yet where is the outrage ?

    Your government is seizing up, you're not even going to have a Postal Service soon...so where is the outrage ?

    The right wing consistantly proclaim their 'right to bear arms' as the refuge of the people against government that doesn't give a shit about them, except as cattle...and yet here we are.....where is the outrage ? Where is the militia marching upon Washington ?

    The average US citizen has been neutered, their passions diverted off to silly by-ways like reality TV and the weak-wristed practice of american sports. Imbeciles like Glenn beck and Rush Limbaugh are actually given the time of day and the attainment of scholastic achievement is belittled.

    Forgive me, this isn't a anti-us rant, but the system there is so fundamentally broken and yet there's no sign of it being fixed. Even the louder political groups, such as the Tea Party, are in reality simple folk bamboozled by the skilful words of the spin doctors to suit their Corporate masters agendas.

    So when the Boomers wake up that their 401k's have been plundered, well, they should have realised that was taking place years beforehand and there won't be a thing they can do about it.

    I mean, hasn't a bankrupt government, almost Third World educational and healthcare standards, a truly colossal debt and unemployment through the roof ( not forgetting that the average income in the US is woeful) made the penny drop yet ?

    The time to fix this is NOW, not in 12 months..not in 2 years...now...it SHOULD have been 10 years ago.

    But you will do nothing except complain about gas prices and why there are so many mexicans around these days.

  12. Every Continent, Except Antarctica by krygny · · Score: 5, Funny

    What do the penguins know that the rest of us don't?

    --
    Research shows that 67% of those who use the term "research shows", are just making shit up.
  13. Re:"they have iphones" and other garbage comments by DarkOx · · Score: 5, Insightful

    It might not technically be a valid form of argument; but this is forum were we are reacting to and pontificating on a protest movement. Its hardly an academic debate we are having here. So even if its not a valid argument form its still worth pointing out the hypocritical nature of some of what they are doing and asking for.

    Generally in my practical experience when you find people preaching something other than what they practice one or both of the following is true. They are profoundly lacking in self awareness and understanding of their own situation, or they preaching something that is impractical and often impossible. They may or may not admit it.

    I listened to NPR interviewing one of these protesters, he talked about no knowing how he was going to pay all the debt he had, yet called himself middle class. This is the United States, class here is supposed to be about what you have and what you do not what you are. If your net worth is negative, you are not middle class. That is called poor. Is it good to be poor, no, but it does not have to be a permanent condition. I can understand the desire to protest over the lack of mobility, even support it. I find it hard to take political prescriptions from someone who can't even admit or can't understand, perhaps both; his own situation though.

    --
    Repeal the 17th Amendment TODAY! Also Please Read http://www.gnu.org/philosophy/right-to-read.html
  14. Re:Assange condemns greed? by Zironic · · Score: 5, Insightful

    Isn't the point that they want the government to grow some balls and bring down actual justice to the economy sector? If we punished people in proportion to the damage they caused half of wall-street would have life sentences by now and the other half would probably think twice before they do stupid shit to get 0.5% more profit.

  15. The Boomers have always been fucking up. by Anonymous Coward · · Score: 5, Interesting

    When you say "our parents" and "our grandparents", it's likely that you're talking about the so-called Baby Boomers. We shouldn't feel sorry for them at all. These people have fucked up everything they've gotten involved with, for decades now. Hell, they're largely responsible for the current situation.

    They were born into one of the most, if not the most, prosperous times in the history of humanity. The foundation of this prosperity was planted by their hard-working ancestors, and they grew up in it and eventually inherited it, so they can't actually take any credit for it. In hindsight, this was the peak of middle-class America. Rather than trying to improve further on this already-amazing economic situation, many of them ended up becoming hippies fighting against the very system that provided them the best standard of living of all-time.

    I'm not a conservative by any means, but neither can I respect those who grow up in a near-perfect environment, yet go ahead and do everything they can to trash this environment. But that's exactly what many Boomers did during the 1960s. They caused some damage, but thankfully were limited in their ability to cause real harm, and their movements fizzled out.

    When the 1970s rolled around, some of them finally outgrew these youthful shenanigans. They got involved with corporate America and the American government, which up until that time actually did treat middle-class American workers extremely well. Even lower-middle-class workers could afford vehicles and homes without having to go into debt. But the Boomers would put an end to this as they started moving up the management ladder.

    By the mid-1970s, the Boomers were starting to get into positions of corporate and government power. Given the huge amount of people around the same age, many of these Boomers tried to be as outrageous as possible to differentiate themselves from their peers, in order to further their careers. They would suggest courses of action that their parents or grandparents, the previous leaders of corporate America, would think of as being totally asinine and wrong-headed. One such concept that they embraced was outsourcing/offshoring.

    They had unfortunately embedded themselves well within American corporations and government by the mid-1980s. They had become the leaders of business and society, and to put it bluntly, they fucked everything up. Every policy they made served to fuck over the American middle class. This is the very same American middle class that begat these Boomers!

    The Boomer's precious offshoring, outsourcing and "free trade" destroyed the American manufacturing sector in the 1980s and 1990s. Although younger generations tried to negate some of this damage via the Internet boom, far too much damage had already been done. By the 2000s, the Boomers had started to offshore even the best-paying technical jobs.

    As everyone today knows, the Boomers' policies have absolutely destroyed the American economy. They caused the very problems that have rendered many of them "poor" today. The only people they should hold accountable are themselves.

    1. Re:The Boomers have always been fucking up. by Arlet · · Score: 5, Insightful

      The foundation of this prosperity was planted by their hard-working ancestors

      More likely, the foundation of this prosperity was a new and plentiful source of energy, oil. The prosperity of human civilization has always been very closely tied to the availability of energy, and for a while oil has been extremely cheap, and basically unlimited.

      Now, as the era of (cheap) oil is over, the prosperity will go back to the norm, except that we now have a lot more expectations and a lot more people to feed.

    2. Re:The Boomers have always been fucking up. by FlatEric521 · · Score: 5, Insightful

      I'm afraid I have to disagree with some of your conclusions.

      They were born into one of the most, if not the most, prosperous times in the history of humanity. The foundation of this prosperity was planted by their hard-working ancestors, and they grew up in it and eventually inherited it, so they can't actually take any credit for it.

      They were lucky. Their immediate ancestors were the group of people who caused the Great Depression, still considered to be the worst economic collapse this country has ever experienced. The government was largely unsuccessful at fixing it until World War II rolled around and restarted our economy. Suddenly the manufacturing capacity was needed to supply ourselves and our allies with weapons.

      In hindsight, this was the peak of middle-class America.

      I'll agree with that, but point to WWII as the source again. Must of the rest of the industrialised world had been destroyed by war. Factories and production through out Europe and Japan had been destroyed to win the war. The US responded by rebuilding them, which involved selling our industrialised services to them. When you are the biggest or only source of an item or service, of course you will be doing well.

      One such concept that they embraced was outsourcing/offshoring.

      This to me is just the conclusion of the rebuild efforts. The US being the only source of high tech products was not a sustainable model. Other countries were sure to develop similar abilities. An example, you never hear much about non-American cars from the 50s. But with the 60s you start to hear more about European cars (like the VW bus so popular with the hippies you metioned) and with the 70s you start to see the sales of some of the now iconic Japanese cars (like the Honda Accord). Similarly during the 50s airliners were generally a US product from companies like Boeing, Lockheed, and Douglas. Once the 70s rolls around and you see the start of Airbus.

      The Boomer's precious offshoring, outsourcing and "free trade" destroyed the American manufacturing sector in the 1980s and 1990s.

      No, our economy would have declined even had none of those practices ever been employed. We had it good selling to the entire world after a major war. The rest of the world caught up, wanted their share of the pie, and were willing to do things cheaper than we were. We would have lost sales to the rest of the world either way.

      So in conclusion, the Boomer's ancestors f-ed things up every bit as badly as we did (the Great Depression), WWII saved our economy and we were lucky there were no major strikes on the US mainland, and finally the world recovered and our position as the dominant producer became unsustainable.

  16. Someone needs to organize these guys by ErichTheRed · · Score: 5, Interesting

    I've been watching these protests, interested in seeing what might come out of them. Unfortunately, no one has stepped out and tried to distill all the chaos down to simple talking points that the masses can understand. Left-wing protestors have a much higher barrier to overcome to be taken seriously. The right wing pundits, Tea Party guys, etc. seem to understand this and keep their rantings simple. They appeal to a wide swath of the country by doing that -- it's easy to convince a plumber that the Evil Government is preventing them from becoming a hugely successful entrepreneur because they're "stealing" his tax dollars. That's where I think a lot of the non-rich right wingers have their thinking misplaced -- they're inadvertently supporting business owners who turn around and make average peoples' lives miserable.

    My take on this whole thing is as follows. I don't want communism, anarchy or the guillotining of investment bankers. What I do want is the social contract that companies used to have with their workers put back in place. The world is going to get even more divisive as automation and cheap labor start taking away all those nice safe service jobs. I like the model of Germany and the Scandinavian countries. There are plenty of business owners in those countries who are successful and get rich, but they seem to have a perspective and deal with the burden of paying taxes to support the rest of society. This is similar to the 50s-style social contracts many employers had -- hard work and loyalty were rewarded with a commensurate income ladder, paid health insurance, and paid retirement.

    Think about it this way -- you're probably well-educated, worked hard to get where you are, and most people have health insurance, a nice stable job, good income and a few possessions. What makes you think that businesses are always going to need network administrators, Java programmers and other IT people? We're already seeing evidence that businesses would rather deal with sub-par service and skeleton staffs...and most people are a couple of paychecks away from being totally broke short of their retirement funds.

    I see why everyone's mad at Wall Street though -- a lot of the reason that social contract went away in the first place is a constant demand for corporate earnings regardless of economic conditions.

    If I were leading this thing, I think my simple, Tea Party-style talking points would be as follows:
    1. Make everyone pay their fair share of taxes. Don't fall for executives' scare tactics about moving to China -- they're going to do that anyway.
    2. To ensure this tax money gets spent wisely, limit corporate influence on the political system. It's amazing how quickly universal health insurance could be funded once some of these tax loopholes are removed.
    3. Reduce the hyper-focus on the financial markets. Get individual retirement investors out of the market and into something safer like a pension or annuity. Let average people have a stable retirement, but encourage investment on their own if they want. Let companies breathe for a couple of quarters so they can actually plow money back into things that will produce results further down the road.

    These things would resonate with average Americans, and it would be very hard for the right wing pundits to call me a dirty hippie if I came to the table with a good set of arguments.

  17. Re:Assange condemns greed? by Zironic · · Score: 5, Interesting

    Social Democracy works just great however. Pretending that there isn't a middle ground between Capitalism and Socialism is stupid.

  18. Political systems worldwide. by DMJC · · Score: 5, Insightful

    Why is there no political system anywhere where the campaigns are funded by a flat levy, and ALL levels of government have equal elections where union and private donations, as well as politician's OWN FINANCES are banned from participating? Each politician gets a set amount equal to all the other candidates with which they can campaign with, and MANDATED/paid media time, and BAN private political advertising. Get rid of these douchebag interest groups from politics they have no place. Politicians shouldn't be allowed to pool their money together into party platforms either. If 50 people across electorates want to campaign for the same thing they should have to each spend out of their allowances individually to get their message out, so 50 conservative candidate ads, not 1 expensive ad running all the time for the conservative party. Anyone running against them should have the chance to do the same. This system that currently exists serves only the rich and powerful and the union bosses that are slaves to them. Kill the financial incentive to suck up to the big end of town and to businesses and make the bastards actually serve the public interest. Everyone knows this is the only way to go, it's high time people stood up for it and made it happen.

  19. Re:Plutocracy. by taiwanjohn · · Score: 5, Insightful

    The US economy in recent years has followed Adam Smith about as much as the USSR followed Karl Marx. I agree with the GP that government is part of the problem, but that is largely due to the ever-increasing influence of "big money" in politics, culminating in the horrific Citizens United ruling a year and a half ago. Unfortunately, the only way to cut the octopus tentacles away is a constitutional amendment to strip corporations of their "personal" rights. Only then will our government be able to function properly to protect the people from "inhuman" corporate avarice.

    As for how to protect us from the conglomerates, I suggest: 1. a STET tax; 2. get out of NAFTA, and reinstate reasonable tariffs as Adam Smith intended; 3. reinstate Glass-Steagall; 4. break up too-big-to-fail banks into smaller units; and 5. put some banksters in JAIL!

    --
    XML is like violence. If it doesn't solve your problem, you're not using enough of it. --AC
  20. Re:Assange condemns greed? by Anonymous Coward · · Score: 5, Insightful

    If that's what you think, then you're packed full of shit and completely out of touch with reality.

    The real reason there are no young EEs in the UK and America is because you older fools shipped off all of the entry-level jobs to India and China. Thus the students who do study EE in college and university graduate, but then find that they can't get any sort of a job in the UK or America because they need at least 5 years of on-the-job experience even to be considered for an interview. They don't even have the chance to gain that experience at all, even those who would gladly work 18 hours days for that whole period of time. So they move on to other endeavors, often in fields totally unrelated to EE.

    You older guys can't have it both ways. You can't cut costs by handing off the simpler work to third-worlders, but still expect there to be American- and UK-born/trained EEs ready to take your places.

  21. Re: by taiwanjohn · · Score: 5, Interesting

    The OWS crowd have deliberately avoided touting any specific economic models. The fact that you don't know that only shows how ignorant you are of the movement and renders the rest of your comment irrelevant. Yes, I have heard a few protesters condemn capitalism, but I've heard even more say that they simply want capitalism with fairness. They want justice for the crimes of the banksters and less "corporate capture" of government.

    As for taxes, the ratios you cite are very similar to those in the USA. However, that's only for income tax revenue. If you include sales tax, property tax, and all the rest, the lower and middle classes pay a much higher percentage of their gross income to the government than the rich do.

    --
    XML is like violence. If it doesn't solve your problem, you're not using enough of it. --AC
  22. Re:Assange condemns greed? by jhigh · · Score: 5, Interesting

    I hope that more people identify the similarities between the Tea Party movement and the Occupy Wall Street movement. Both are capturing the frustration of the middle class that there appears to be no way for them to effect change on their government. The OWS crowd is choosing to direct their frustrations at a Wall Street that for far too long has reaped the benefit of politician's greed, and the Tea Party crowd chooses to direct their frustration at the government that is being purchased, but both are right.

    While the OWS does tend to be more liberal in their proposed solutions (instituting a 'living wage', supporting public sector unions, opposing Citizens United) and the Tea Party tends to be more conservative (support for term limits, opposition to health care reform, etc), there is real value in the fact that everyone is recognizing that something really big is wrong - and now it's time to talk about how to fix it.

    Do the Tea Party and OWS agree on the solutions? Probably not, but these two groups are the heart of America. This is the debate that we should be having. Instead, we have two parties pandering to the highest bidder. Stop letting the career politicians drive these groups apart. Instead, both should be rallying against the political class that rules them, convincing their fellow Americans that the system is broken, and coming together to discuss the solutions. We can be united in our cause and divided on the solution.

    --
    Social Engineering Expert: Because there is no patch for stupidity.
  23. Re:Assange condemns greed? by ladoga · · Score: 5, Informative

    Go ahead look up the definition and yes that is what we have in this country now Fascism. You don't get it the media and the men behind the curtain wants you to use words like Corporatism because the world still remembers the horror fascism can bring.

    Straight from horse's mouth:

    "Fascism should more properly be called corporatism because it is the merger of state and corporate power."
    - Benito Mussolini.

  24. Re:Assange condemns greed? by anagama · · Score: 5, Interesting

    As an example of how ball-less, consider the S&L crisis where 1000 FBI agents investigated white collar crime. About 1000 bankers went to jail. The S&L crisis was 1/40th the size of the current meltdown.

    Instead of investigations, there ate 120 FBI agents spread out across the country (even Enron required 100 investigators and WA Mutual is even bigger). Obviously, not even a single indictment let alone a conviction, despite the problem being 40x bigger.

    If the Executive branch wanted to do something about it, it could very easily just by hiring more investigators.

    William Black, lead prosecutor in the S&L crisis, has been trying to get this point understood, but googling him in google news leads to a real dearth of results. This is a good interview transcript:
    http://www.creditwritedowns.com/2011/09/why-nobody-went-to-jail-during-the-credit-crisis.html

    --
    What changed under Obama? Nothing Good
  25. Re:Assange condemns greed? by demachina · · Score: 5, Insightful

    The problem with the Tea Party is it was coopted by people like Bachman, Palin and DeMint largely with the help of the main stream media and Republican establishment who wanted to gut the Tea Party's populist economic message and defend the status quo. They did a really great job at it too. They managed to turn the Tea Party image from economic populism in to right wing social conservatism. Social and racial issues have absolutely no place in the Tea Party. I really hope OWS saw what happened to the Tea Party and use their diffuse leadership structure to avoid being coopted. Unions and the Democratic party, in particular, will be pure poison to OWS if they manage to insert themselves in the spotlight. Unions are a nice idea in theory to counter corporate excess but in practice they've become just as bad, and corrupt, as corporations and just as much a part of the problem. They are a complete turn off to most American as a result. Its a total farce for Obama to think OWS is on his side, the second he hired Summers and Geitner to run the economy he proved he was part of the problem, not the solution, and "Change you can believe" was total bullshit.

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    @de_machina
  26. Re:Assange condemns greed? by DavidTC · · Score: 5, Insightful

    While you're right about the origins and original anger of both...

    ...at this point the Tea Party is just 'the Republican base' and has lots of idiotic nonsense attached that has nothing to do with anything.

    Firstly, the Tea Party seems to had started in opposition to the bailouts. That is fine. I actually think the bailouts needed to happen...and all such receiptients should have been broken up afterward. But I understand the anger, and why people think they shouldn't have happened at all. (And since no one can change the past, it's a moot point. At this point, everyone can agree corporations that cannot fail should not even exist.)

    That was the one shining moment of sanity. And then the Koch brothers hijacked them into nonsense. They started complaining about utterly imaginary taxes they thinks were raised, when we're actually under some of the lowest taxes ever. And they seem to think the debt has something to do with their individual financial situation, and that the government should balance the budget, something which has absolutely no bearing at all on any individual. They also demand the government stop 'printing money' and causing inflation, apparently completely unaware that inflation has, for the last for years, utterly and completely stopped. (Because the superich keep sucking money out of the system faster than we print it.)

    I'm sorry, but any movement that operates from such ignorance is not very useful, because the demands make no sense. But that was just random stupidity, and could be understood, at least. In fact, some of that stupidity has shown up on OWS, like cries to 'audit the Fed'. Look, idiots, auditing the Fed isn't going to do anything. The Fed is doing nothing illegal.

    But that was ignorance, not malice. It happens in any actual grassroots protest movement.

    But then the Tea Party was hijacked (1) to oppose government health care, which had nothing to do with their original complaints. In fact, the cost of health care is the major cause of bankrupcy, so at this point the Tea Party is literally facing backwards in trying to make things better for themselves. Thanks to that idiocrary, we ended up with a 'solution' that essentially let the insurance companies run it. Good work, Tea Party!

    Then after that, more nonsense kept getting added. Oh, look, the Tea Party is now against abortion. Or whatever.

    And, look, the Tea Party is now the Republican base.

    I'm sure there are a lot of Tea Party members out there with basically the same complaints and near identical goals as OWS...and they need to look around at where they are standing, and then need to ask themselves what they actually want. And if, perhaps, they are standing in the wrong protest movement.

    1) The 'Tea Party' was never really hijacked. Protests managed to exist outside corporate control for a few weeks. But the second it was given a name, it was in corporate control, it was the very first thing corporations did, making it about 'freedom from taxes' instead of 'freedom to not have our government hand shitloads of money to people who blew up the economy'.

    --
    If corporations are people, aren't stockholders guilty of slavery?
  27. Re:Assange condemns greed? by demachina · · Score: 5, Interesting

    The problem here is most of the stuff the banks did, and that caused the crash, wasn't really illegal. It was immoral but not really illegal. You see, the banks have anough control over the Fed and the Congress that they can make whatever they want to do legal so they don't have to break the law. If there was illegality most of it was at the low level where loans were originated and the easiest people to nail are the people who lied on loan applications which is the wrong group of people to go after.

    One place there was law breaking by the banks was robosigning and other foreclosure abuses but that was after the crash, not the cause of it, and chances are the banks will pay a hefty fine and walk away otherwise unscathed.

    Much of the crisis was caused by repealing Glass Steagel. Why was this done? Because Citi and Travelers wanted to merge in to a giant mega corp offering all financial services. Glass Steagel made this illegal, so what did the do? Bob Rubin, Larry Summers and Phil Graham pushed a new law that that repealed Glass Steagel under Clinton. Bob Rubin then went to work for Citi, Graham went to work for UBS, to reap the benefits of what they had sowed. Summers was hired by Obama to run the economy despite being as much to blame as anyone.

    The solution to the 2008 crisis is, unfortunately, not criminal prosecution. You need to prevent the Fed and Washington from being completely controlled by Wall Street, and making everything they do legal. Unfortunately this is a very difficult thing to accomplish, but it is exactly what OWS is all about.

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    @de_machina
  28. The Federal Reserve operates behind closed doors by nido · · Score: 5, Interesting

    In fact, some of that stupidity has shown up on OWS, like cries to 'audit the Fed'. Look, idiots, auditing the Fed isn't going to do anything. The Fed is doing nothing illegal.

    Without an audit of the public-private beast that is the Federal Reserve System, how would you know whether they've done anything illegal or not? I don't know if the Ron Paul's version of the audit was ever passed, but Senator Sanders got an amendment inserted into some-bill-or-another. His office has this page:

    ... "As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world," said Sanders. "This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else."

    Among the investigation's key findings is that the Fed unilaterally provided trillions of dollars in financial assistance to foreign banks and corporations from South Korea to Scotland, according to the GAO report. "No agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president," Sanders said.

    -The Fed Audit

    "Audit the Fed" was Ron Paul's effort to hold the Federal Reserve accountable. It was a preliminary step to ending the system whereby "Wall Street" loans the economy its money supply. If you have a dollar bill in your pocket, it's only there because someone borrowed it from a banker - the bills are printed by the treasury and purchased by the Federal Reserve at cost [2 cents?]. If you have a quarter or a dime or a Susan B. Anthony dollar in your pocket, the Fed bought these from the Mint for face value.

    The initial "Tea Party" rallies were held by Ron Paul's supporters in the 2008 presidential campaign, in response to the bailouts. Paul eventually dropped out of that race, but the "powers that be" thought the "tea party jingle" would be useful to perpetuate the concentration of power.

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  29. Re:What's the alternative? by GreatBunzinni · · Score: 5, Insightful

    A bunch of patchoulli-stinking young adults polluting a sidewalk in front of some financial buildings is going to accomplish nothing, particularly when their gross hypocrisy is so evident (campaigning against greedy corporations? Organize that on your iPhone did you? Or maybe on Facebook?). They're nothing more than the bachelor lions yowling in the night because THEY don't get a comfortable place to sleep and nobody to breed with.

    Your accusations regarding the protesters' hygiene habits and the crass lack of consideration for others that you are exhibiting does absolutely nothing to refute the point which is being made by these protests. In fact, the only thing you are accomplishing is to portray yourself as a modern-day version of Archie Bunker, with all the considerations that goes for his intelligence and insight on social affairs.

    Regarding your meaningless abuse of the worn-out cliché of "OMG THEY USE IPHONES!!1!1!ONE!", just because someone is against the racketeering and ponzi schemes that defines the financial institution, along with all the corruption and manipulation of the democratic process, it doesn't mean that everyone should suddenly avoid using any tool at their disposal, go Luddite and protest wearing nothing but something they built out of hemp and straw. the civil rights movement also wasn't a hypocrite for using the telephone system, no matter ho big Ma' Bell was.

    So, your pathetic attacks on the protesters only goes to show how full of blind hate you have become, and how you are letting your stereotypical bigotry cloud your judgement.

    And if you're really going to protest - I mean seriously try to bring the system down - understand that the full weight and force of our government, well, every government, business, and the bulk of the populace will be against you (violently so, in direct proportion to your success) as they have every reason to protect the status quo.

    Well, I can see how the government and corporations will do their best to derail this movement, but I seriously doubt that "the bulk of the populace will be against you". Only the useful idiots among us, which includes the little archie bunkers such as yourself, will believe that violent suppression of a political movement does anyone any good, let alone be compatible with a democratic system of government. But in order to do that, you first need to explicitly and blatantly violate your countrymen's rights to freedom of speech, freedom of assembly and even freedom of petition. That means that in order to enact your "violent" opposition of a political movement you first will have to violate the very core of what defines your country. To put it in simple terms for you to understand, the actions you are suggesting are blatantly un-american, and against everything your country stands for.

    So, guess who is screwing up your country, mr Bunker?

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    Slashdot, fix your code or at least hire someone who is competent at it to do it for you.