NYC Bear Stearns Protest - Stop Loan Sharks (3/26/08) 3 of 3

[hittingrabbit]

jonathantkessler,you have no idea what your talking about,problem is the Federal Reserve prints money based on the national GDP,they then send the money out to the lower banks,the lower banks then may loan out 2.5 times the amount of actual money they have,if the loans are defaulted then there's nothing to cover the bonds,in which may be split up in fractions across the board.contrivance at it's worse.

[usernametaken1932]

what you have said has nothing to do with what i stated. And by the way, its not 2.5 times its 9. Nine times over is one major reason the prob is so serious. The money does not exist, it NEVER DID! USA operates on credit, so no the money was never printed. Read my post next time before you reply to it

[hittingrabbit]

I guess you need educating a bit more on how the U.S money system works.Well to start it's backed by the national GDP,the corporate government prints a corporate entity of you in your name known as a strawman,they send to vital statistics,which sends the corrupted name to the Treasury in which issues bonds securities to be sold which allows the Federal Reserve to print the note.

[jonathantkessler]

Taxpayers SHOULD have to bailout financiers. Especially major firms such as Bear Stearns. Do any of you fucking idiots have any idea what happens when these big guys go under. These "hot shots" keep america running. Take away Bear, JP and the many others and what do you have???? A collapsed country. For the home owners.... ITS YOUR OWN FAULT.. You irresponsibly purchased homes YOU could not afford. Its not the tax payers job or anyone job to bail YOU out. Wake the fuck up america.

[EweTubeSux]

The financial instruments that are bringing down these institution are loaded with illegal acts and way over the top risk taking. The complexity of what has happened will take years to unravel and at the end hundreds of Wall St. professionals will be barred and many will be sent to jail.

[yimbot]

Oddly enough... I left for my lunch break at work with no idea I'd end up here. Saw the crowd, had some built up angst in me and basically said "F it, why not?". I didn't even know what we were protesting until after I started protesting. Spontaneous and random, but it felt good to rid some work-related stress. I got back to the office and explained what I'd gotten into during lunch to my coworkers (who'd simply went to the corner soup shop for their's). It was fun. Anyway, thanks for watching.

[missFrill]

is this a new La Rouche bunch?

[KARStarla]

Interesting that you brought that up, I was watching the "mortage meltdown" the banks were apparently offering homeowners a bail out plan (they talk about) one thats inacted during a sort of emergency but they are getting screwed there as well but what came to me was when I went to LaRouche's site it appears all 50 states are being petitioned to participate in something (which appears to be similiar) one of these folks THOUGHT was their rescue but was to their demise

[wcarlpdrysdale]

rite-in Ron Paul for president 2008

[laquishapugh]

These corporations should not be in business at all. If they weren't trying to be greeding the economy would not be in this situation. Make the rates available for all homeowners. I do not understand how they are going to give a mortagage to so called low income families, and then try to charge them the rich man price. What since does that make? Now they are paying the price, and the rest of America behind their dumbness.

[midwestcharm]

Greed is going to get us all killed. This is what happens when you elect rich people to office who have a history of lying and corruption

[CounterRevolutionary]

Taxpayers shouldn't have to bailout financiers.

Taxpayers shouldn't have to bailout people who can't afford their mortgages.

[jonathantkessler]

You have any idea at all what happens when the power lenders go under? Why dont you read up a little on the "financial backbone" of this country before you make ridiculous comments like this.