Their earnings were actually up 74% from last year but they had a special accounting item. They added 1.4 billion to their earnings from loss reserves. That’s really good news. It means that more people are paying on time on their loans than was anticipated.
Anyway, the comps from last year aren’t so hot, so I don’t know in what sense that’s a record. C. basically gutted itself as a company and sold off some of their best assets, icluding Smith Barney. Their stock is still down something like 90% for the last 3 years or so.
I don’t think they are a great company, but I don’t think what you are implying is at all accurate.
The final dereg that was Gramm/Leach./Billy was a Nov.12, late night push that was spearheaded by a decision made by the Fed. reserve to allow Citicorp and Travelers to merge a year earlier. It was in violation of Glass but was allowed. The GLB act permitted such mergers . It also permitted an exec to serve on multiple boards of the various members of the conglomerate. It was the last bill of significance Clinton signed on his way out the door. It was a disaster.
Obviously i have attended the Detroit occupation. I also sat in an organizational meeting. I spent time talking to the people tenting out. I also brought down some blankets, food and coffee etc, to help them out.
I really didn’t think the OWS was being anti-semitic, but this is from your link:
“A quick sampling of the anti-Semitism on display among the Occupy Wall Street set yields the flamboyant and aggressive protester who yells,“You’re a bum, Jew” at his yarmulke-wearing interlocutor; the conspiracy theorist who laments that “Jewish money controls American politics,” and warns the Russians not to let the Jews take over Russia too; and the self-described Nazi with the swastika tattoo who regrets that America has been handed over to “other people.” Ah, people power.”
“Tune in randomly to live television coverage of the spectacle and you’ll see—as I did—placards scapegoating Israel, Zionism, or “Hitler’s bankers.” Check out the continuous flurry of protest-supporting tweets and blog posts, and you’ll get more of the same.”
Is this accurate? Is this actually happening?
No. There were a few people who had antisemitic placards and they were followed and harassed the whole time they were there by actual OWS protesters. There are probably thousands of Jewish protesters…they had an Occupy Yom Kippur ceremony at multiple Occupy Together cities on YK. They have sukkahs set up for Sukkot at multiple cities. The antisemitic ones are either individual crazies or plants.
And if you still think the Freep has any kind of credibility, you’ve lost contact with reality.
I’m not familiar with the publication. Is it part of Freerepublic?
Anyhow, no again, I o not think OWS is anti Semitic.
It seems o me that the anti bank protests are drawing a few of hose that equate banking wih Judaism/Zionism/illuminati and all that fun stuff.
The tea bagger rallies have shown that. A movement is not responsible for all the people that hang around. You don’t have gates, badges or ID cards. Who knows what person will wander in?
Kalle Lasn, the “brains behind Occupy Wallstreet” has always had some heat on him in regards to the anti-semetism… For example, here is an article he wrote, presented without commentary.
I don’t know enough about the situation to make a judgement call. Regardless, I think the Occupy people are doing this for the reasons they say, and not because they are fueled by some sinister agenda.
Most of the inequality lit doesn’t deal with the top 1%, so I can’t vouch for some of Scylla’s initial claims. Controlling for spin though, it seemed to me that Scylla’s stance was at least in the general area of a reality-based discussion, FWIW. Oh, and he linked to a report by the Center for American Progress, which is a responsible and public-spirited operation that some may say leans left. They certainly pile on the Republicans a lot.
For those not wanting to click the links, I’ll summarize:
The top 1% own 42% of American wealth, more than the bottom 95% combined.
(It makes use of the 3 part mutually exclusive and exhaustive division: 1%, 1-5%, and bottom 95% that so puzzled Scylla.)
It’s wrong to create a mortgage-backed security filled with loans you know are going to fail so that you can sell it to a client who isn’t aware that you sabotaged it by intentionally picking the misleadingly rated loans most likely to be defaulted upon. Huzzah!
The top 1% have certainly done well for themselves haven’t they? As for the 90-99ers:We Are Not the 90%...
Over at the GD thread even Mr Smashy also made the same maneuver, why, they are not trying to discredit that movement by noticing dubious antisemitic connections that are supporting this movement. No sir, really we are not! Why, it is an idea that came from a right wing site, no we do not rely on those sources, no sir, don’t be ridiculous.. :rolleyes:
Yeah right, what those efforts show me is that they are not capable of noticing when dubious sources are pulling their legs.
So… a guy from adbusters publishes a single article in 2004 with the commonplace observation that quite a few neoconservatives happen to be Jewish. The article even acknowledges explicitly that such an exercise is problematic.
Now frankly I think the 2004 article was banal to the point of being out of touch. But if you’re going to argue for bigotry, frankly I think you need more than one ambiguous example. Lots of ambiguous examples is evidence of dog-whistling. One clear example can be evidence of bigotry.
But this is just a lame and dubious smear on the OWS. It’s not surprising: GIGO’s link shows that people are being paid to pen insinuations like this. But such monied and unscrupulous opponents presents an opportunity, a moral opportunity to oppose the indefensible. The virtuous welcome such challenges.
In contrast, I’m not seeing a lot of defenses for the carried interest loophole-letting hedge fund managers pay a tax of 15% on their wages. OWS opponents lack substantive arguments. No, what we see are smears of the worst kind. Backed by cold hard cash -an alchemy by which money is converted to power and then money. What we are seeing from OWS is popular revulsion against such behavior.
The banks are the problem. We were supposed to fear “too big to fail”, then we made them bigger. That is a license to steal. The bankers know whatever they do, the tax payers are on the hook. We have to save the economic system.
Nothing of significance was done to fix the problem. No bankers went to jail. No banker was fired. No important legislation was passed. Nothing was done to save us from the arrogance and greed of the financial thieves.
You could argue that we made it worse. So when the next crash comes, who will we blame?
The OWS movement is eating well. Nearby pizzerias are getting orders from all over the world, to deliver pizzas to the occupiers. They even have orders from Egypt.
