"Rewarding the Rich: Regulating the Rest"

[handmade34]

http://www.nationofchange.org/blogs/christopher-petrella/rewarding-rich-regulating-rest-1320042654

"As the revolutionary anti-plutocratic Occupy Wall Street movement traverses the country (and the world) perhaps we should pause for a moment to inventory our refrain. Put squarely, the formal deployment of the term “occupy” is both violent and imprecise. We radicals –particularly we white radicals— must recognize that “America” has been unjustly occupied for the past 500 years and we, in fact, tread on indigenous land. Our country was built on a condition of double theft. Therefore, instead of uncritically ratifying the language of “occupation” I suggest a more pointed and non-colonial shibboleth, that is, “De-Leverage Wall Street.” At the very, very least (and in the short term) we must agitate to “de-leverage wall street” by reducing its debt-to-equity ratio. The slogan is admittedly clunky and so I offer it with weighty reservation. Nevertheless, I argue that it is Wall Street’s unsteady debt-to-equity ratio that is predominantly responsible for our 20% rate of underemployment, our poverty rate of 15%, and a devastating 80% loss of wealth among black households since 2007. (White households lost about 20% of their wealth.) I assert that de-leveraging Wall Street must be the first step in a multi-tiered, variably registered approach to creating enduring material justice for workers, people of color, the homeless, radical leftists, and the poor (and for those who inevitably inhabit multiple social positions)..."

[JDPriestly]

1. Thanks. De-leverage Wall Street.

They hide it well, but in fact they are trading on the margin. That's what brought down the stock market in 1929. That's what is bringing it down over and over and over in recent years.

Derivatives are just another way to trade with money you don't have, money that does not exist.

If we did that with our family budgets, we would lose our houses, our shirts and everything else. Oh, you say we already did that?

I have started a new thing. I save up all the credit card offers I get each week. At the end of the week, I tear off my name and send them back to the banks in the postage paid envelope.

They want us to bank online (because it saves them postage), but then they send all that junk mail. They want to get us in over our heads so they can bankrupt us. Seems to be their game.

[PETRUS]

2. K&R