Quote:
Originally Posted by nextri
I think much of the anger and frustration comes from the fact that the bankers knew this would happen and made money from the collapse, they got bailed out, and showed no responsibility for their actions. TV commercials pushing these loans and giving people the idea that they could afford it, representatives at the banks giving regular people financial advice and having an agenda to loan out as much money as possible, regardless of peoples ability to pay for it in the long run. On top of that, the banks went on with business as usual and used bailout money for bonuses. People aren't raising up against corporations in general. Corporations that produce products and helps the economy grow. That's just a spin some media outlets put on it, to discredit the protesters. It's the greed and lack of responsibility from those who played a big part in causing the financial breakdown that I believe motivates and angers these protesters. As well as the fact that the political system has been bought and paid for by these same corporate money interests. It's corporations who make money from manipulating the system, influencing the political system into making laws that can benefit them instead of the american people that is the problem. Not businesses that actually produce something, and employ hard working americans.
It wouldn't sound ass good if the protesters said "We are the 99.87%". The 99% isn't to be taken literally. That's how I see it at least.
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It's worse than that.
The big banks recovered
all of the money they lost on bad mortgages by either collecting from insurance claims with AIG and/or from the taxpayers in the form of 1% loans. Loans that they easily repaid from the interest they collected on safe overseas investments. The money they're taking in now from foreclosures is 100% pure profit over and above their initial costs.
It's a great gig for them.
Now, once a sufficient number of new mortgage defaults start to pile up you can bet your bippy that they'll come back to Obama - or Romney - in a couple of years insisting on yet another bailout whereupon the process will repeat itself.
This is what OWS is all about.