The Sovereign People's Movement?

he has nothing to say . . .

ok i didnt compose this, im lifting it:

Choose a year from some fondly remembered past when the American economy generated broadly shared prosperity. How about 1947? That year, the top 1 percent of U.S. households grabbed a bit less than 12 percent of the nation's pre-tax income, and the other 99 percent shared around 88 percent of the take. It wasn't a perfect time, but it was an era when a large middle-class was emerging.

Or maybe you think 1967 was a great time to be an American worker. That year, the top 1 percent grabbed 10.7 percent of the pile, and the other 99 percent divvied up around 89 percent of our income.

Between 1949 and 1979, those at the top never took in more than 12.8 percent of the total. When Ronald Reagan was elected in 1980, they grabbed 10 percent of our economic output, and the rest of us shared 90 percent. And that's when things started to shift, relatively rapidly. In Reagan's final year in office, the top 1 percent of American households grabbed 15.5 percent of the nation's income.

By the time George W. Bush was elected, they were taking in 21.5 percent. And in 2007, the year before the crash, they were pulling in 23.5 percent of our pre-tax income, leaving the other 99 percent to share just 76.5 percent of the fruits of our output.


As a whole, the United States remains a prosperous country, but the economy isn't working for people who make most of their income by working – the share of the nation's income going to wages hit an all-time low last year, while the share going to corporate profits was at an all-time high.

The other crucially important point is that this isn't just about fairness, and those of us who talk about this massive redistribution of wealth aren't just “sore losers,” as conservatives often contend. There's a practical issue here: the economy simply doesn't function well when working America is taking home less than half of our national income in wages.

About two-thirds of our economy is driven by consumer spending, and studies have shown that unlike ordinary people, when the very wealthy get a tax break, they don't spend more money as a result. They bank it. The other 99 percent are consumers, but having seen their incomes stagnate for three decades, they're tapped out, up to their eyeballs in debt and unable to maintain the demand that the economy requires to keep people working.


thats a start . . add theres damn few jobs that pay decent to hs grads, nobody has pensions anymore, its all tied to the wall street scam . . and the rich pay only 15% on huge capital gains for doing no work, and creating no american jobs . .

lefty

Former 'Jeopardy!' Champ Ken Jennings: 'I Am The 99 Percent'

http://www.npr.org/blogs/thetwo-way/2011/10/26/141738383/former-jeopardy-champ-ken-jennings-i-am-the-99-percent?sc=fb&cc=fp

We also dug through the site and picked out some highlights. In some ways, the narratives are an answer to the question that's been asked over and over these past few weeks: What is this occupy movement about? Here are some of the others:

http://www.npr.org/blogs/thetwo-way/2011/10/26/141738383/former-jeopardy-champ-ken-jennings-i-am-the-99-percent?sc=fb&cc=fp


lefty

lefty wrote:

anyone can cherry pick a video showing someone that might not be as well spoken as someone else, doesnt prove jack squat . . keep grasping . .

lefty

huntingbuddy wrote:

You don't want to be part of the 1%?

This is a really good video I found. Its amazing how brainwashed these protestors are. All the lady can recite is to get rid of the bush tax cuts, she can't even talk to the guy, cause she is too busy yelling about bush tax cuts.

Here is a longer version and it's priceless!

the ceo is a clueless idiot

lefty

lefty wrote:

the ceo is a clueless idiot

lefty

You either didn't watch it or you have the same lack of intelligence as the fleabaggers.

Peter Schiff is in the 1% because of his intelligence and drive and you are not in the 1% because you have neither.

hes a snake oil salesman . .and your assessment of myself and other normal working folks is bogus , im ready to give up salary to spend more time with my family . .

lefty

and hes a shyster lyin salesman who cant understand, and or emphathize with his fellowman .. thats what makes him a fuggin idiot

lefty

lefty wrote:

and hes a shyster lyin salesman who cant understand, and or emphathize with his fellowman .. thats what makes him a fuggin idiot

lefty

You have no proof that he's lying. That's slander. Produce some proof or STFU.
He built his business honestly and he accurately predicted the 2008 financial meltdown. I am a client of his of my own free will and believe, like he does, that everyone in America with a modicum of brains, a bit of passion and a lot of ambition can succeed in becoming wealthy.

http://en.wikipedia.org/wiki/Peter_Schiff

if hes a salesman hes a liar . . its in the definition, he calls people up and asks for money

hes created nothing, hes a scammer . .

wait till he runs away with your cash



lefty

hahah you mean he helped create the 2008 meltdown !

lefty

lefty wrote:

hahah you mean he helped create the 2008 meltdown !

lefty

You, sir, are an idiot. Your ignorance of Schiff is staggering!

He is one of those RAILING against the cozy Washington/Wall St. connection. He is one of those trying to separate the 2!

I'm done with you, punk. Until you actually do some research (besides watching CSNBC) I'm not wasting my time.

sticks and stones

lefty

you just hate a WINNER ! and like more repoops will twist and turn anything around to deride him . . . and his accomplishments

http://obamaachievements.org/list


Banking and Financial Reform

1.BROAD POLICY:

2.Established the National Commission on Fiscal Responsibility and Reform. ref
3.Established President’s Advisory Council on Financial Capability to assist in financial education for all Americans. ref, ref , ref
4.Restoring American Financial Stability Act of 2010. ref, ref
5.Dodd-Frank (DF) Wall Street Reform and Consumer Protection Act, the biggest financial reform law since the Great Depression. ref
6.Managed the Troubled Asset Relief Program (TARP) ref
7.Assigned a Special Inspector General for the Troubled Asset Relief Program Act of 2009. ref
8.Pension relief Act of 2010. ref
9.Fraud Enforcement and Recovery Act. ref, ref
10.Played a lead role in G-20 Summit re: financial crisis. ref
11.Reformed deferral rules to curb tax advantages for investing overseas. ref
12.Established new offshore investment policy that promotes in-sourcing. ref, ref
13.FUNDING:

14. Cut salaries for 65 bailout executives (Pay Czar). ref
15.Banks have repaid 75% of TARP funds, bringing the cost down to $89B as of June 2010. ref
16.Closed offshore tax safe havens, tax credit loopholes. ref , ref , ref
17.TARGETED ACTIONS:

18. Created the Financial Stability Oversight Council to monitor stability of the financial system and individual firms (DF). ref
19.New requirements for reporting financial data (DF). ref
20.Created self-funded Office of Financial Research (OFR) to collect information from financial firms (DF). ref
21.OFR employees must wait a year before working for certain financial firms. ref
22.Provided for orderly liquidation of financial companies (DF). ref
23.Limited trading activities of banks (Volcker Rule) beginning 2 yrs after passage (DF). ref
24.Swaps Pushout Rule prevented federal assistance to swaps (including derivatives) traders (DF). ref
25.Derivatives must be traded transparently through a clearing house (DF). ref
26.Defined the amount and nature of assets required to meet capital requirements (DF). ref
27.Originators of asset-backed securities must retain 5% ownership/risk (DF). ref
28.Bureau of Consumer Financial Protection (DF). ref
29.Stronger client fiduciary duty for broker-dealers (DF). ref
30.Higher standards for securities advertising and disclosures (DF). ref
31.Expanded “insider loans” (DF). ref
32.Higher standards for sytemically important ($50 billion assets+) institutions, including annual stress tests and restrictions on bank acquisitions (DF). ref
33.Executive compensation must be determined by an independent committee (DF). ref
34.Issued compensation guidelines for bank executive salary and bonuses. ref , ref
35.Financial agencies must establish Offices of Women and Minorities to promote more diverse hiring (DF). ref
36.Credit Card Accountability, Responsibility and Disclosure Act. ref, ref
37.Credit CARD Technical Corrections Act of 2009. ref
38.Established a credit card bill of rights. ref
39.Reformed credit card swipe fees. ref
40.Created new criminal penalties for mortgage fraud. ref
41.Congress pursued Goldman Sachs for securities violations. ref
42.Permanently extended Research and Experimentation Tax Credit for domestic investments. ref
43.RESULTS:

44.(Treasury) Sold 1.5 billion shares of Citigroup at a profit. ref
45.G-20 summit produced a $1.1 trillion deal to combat the global financial crisis. ref
46.Negotiated deal with Swiss banks to permit US government to gain access to records of tax evaders and criminals. ref
47.Financial reform has ‘strongest consumer financial protections in history.’ ref



what do you want , a repooplinut that will increase defense spending for his buddies, cut taxes for the rich, and drive us deeper in debt like bush? thats all the repoops have, they jsut want to go back to the failed repooplinut policies of bush/cheney

you really think you can push that, "lets give the rich a huge tax break, and they will create all these great jobs with benefits for americans" . . wow . .


lefty

oh i just read this about your hero schiff...

Schiff supports the reduction of government economic regulation, and is concerned that President Obama's administration may increase such regulation.

WRONG AGAIN SCHIFFY, WE RE GOING WRITE LEGISLATION THAT HAS AGENTS CRAWLING UP YER ASS AND YOUR SCAMS FOR YEARS, so get used to it scammer....

lefty

fatbass wrote:

lefty wrote:

hahah you mean he helped create the 2008 meltdown !

lefty

You, sir, are an idiot. Your ignorance of Schiff is staggering!

He is one of those RAILING against the cozy Washington/Wall St. connection. He is one of those trying to separate the 2!

I'm done with you, punk. Until you actually do some research (besides watching CSNBC) I'm not wasting my time.

Proof that the tea party is racist, violent and disgusting...

http://www.dailykos.com/story/2011/10/29/1031198/-PROOF-the-TEABAGGERS-are-RACIST,-VIOLENT,-and-DISGUSTING

fatbass wrote:

Proof that the tea party is racist, violent and disgusting...

http://www.dailykos.com/story/2011/10/29/1031198/-PROOF-the-TEABAGGERS-are-RACIST,-VIOLENT,-and-DISGUSTING

Quote :

ALSO REPUBLISHED BY TROLLS.

I found this quote and I think it fits pretty well, I think this is something we can all agree on. The last sentence is what America is suppose to be about.

Quote :

An open letter to occupy protesters from some wall street brokers... I personally define the "1%" as those who use governments monopoly on force in order to exploit the citizenry and limit their market choices through government created oligopolies and monopolies. The biggest culprits being big banks and the Federal Reserves use of fraud such as fractional reserve banking. Lobbying government for bailouts, which are in essence, the theft of YOUR hard earned money also put you in the category of the 1%. We harbor no ill will towards those successful individuals who gained their wealth honestly by providing a service which people want.
- Mark Blatterfein

It is clear that lefty is intellectually dishonest. I seriously doubt he watched the clips of Schiff. The man warned us, NOT caused, of the housing meltdown. He, and other economists that actually understand economics were warning people as early as 2003 that the housing bubble couldn't last, and the fallout would be huge. Peter was mocked repeatedly on MSM shows by the real economic 'experts'. Who was right, and who was dead wrong? lefty is so blinded by STUPIDITY that he can't see reality. The housing bubble/burst wasn't created by people like Peter Schiff, it was created by the GOVERNMENT! It was regulations and mandates, along with the Federal Reserve keeping interest rates low. How people can be so ignorant as to think capitalism caused the meltdown, while thinking the government can prevent such events via regulations, is flat out scary. Blaming greedy capitalists for the housing crash is like blaming gravity for a plane crash........

Mayor Bloomberg to the fleabaggers:

"“I hear your complaints,” Bloomberg said. “Some of them are totally unfounded. It was not the banks that created the mortgage crisis. It was, plain and simple, Congress who forced everybody to go and give mortgages to people who were on the cusp. Now, I’m not saying I’m sure that was terrible policy, because a lot of those people who got homes still have them and they wouldn’t gave gotten them without that.

“But they were the ones who pushed Fannie and Freddie to make a bunch of loans that were imprudent, if you will. They were the ones that pushed the banks to loan to everybody. And now we want to go vilify the banks because it’s one target, it’s easy to blame them and congress certainly isn’t going to blame themselves. At the same time, Congress is trying to pressure banks to loosen their lending standards to make more loans. This is exactly the same speech they criticized them for.”

Bloomberg went on to say it’s “cathartic” and “entertaining” to blame people, but the important thing now is to fix the problem."


http://hotair.com/archives/2011/11/01/bloomberg-to-ows-congress-caused-the-mortgage-crisis-not-the-banks/

And HERE is the smoking gun; incontravertible evidence that it was BILL CLINTON and CONGRESS, NOT BANKERS, that caused the crisis.

http://news.investors.com/Article/589858/201110311638/Housing-Crisis-Obama-Clinton-Subprime.htm?src=IBDDAE

"Goldman has been more conciliatory than some banks as far as accepting responsibility for the economic collapse. “Much of the past year has been deeply humbling for our industry,” bank spokesman Michael DuVally wrote the Center. “As an industry, we collectively neglected to raise enough questions about whether some of the trends and practices that became commonplace really served the public’s long-term interest.”

"Two of the largest settlements ever reached for lending problems were with AIG and Citigroup, two financial institutions that have received billions in federal aid. Citigroup has a history of subprime lending, dating back to its purchase of Associates First Capital Corp. in 2000. Citigroup at the time was building a global banking empire thanks to its success in convincing the government to deregulate the financial services industry the year before.
Associates had been criticized by some as a predatory lender, and in 2002, Citigroup paid a price for it. The bank agreed to pay $215 million to resolve Federal Trade Commission charges that Associates had engaged in “systematic and widespread deceptive and abusive lending practices.”

"AIG settled claims of abusive lending practices in 2007. AIG subsidiary Wilmington Finance Inc. agreed to pay approximately $128 million in restitution after the Office of Thrift Supervision found the lender had failed to consider the creditworthiness of borrowers and charged large broker and lender fees. AIG also agreed to donate $15 million to “financial literacy and credit counseling.”


http://www.publicintegrity.org/investigations/economic_meltdown/articles/entry/1286

From VoT's link:



Draw your own conclusions...