Are you the 99% ? - Wallstreet Come Get It...

[cincoseisdos]

Sowwy but Long Beach tap water is delicious

 

[big j 33]

That's the point, her "complaints" are ridiculous.

 

[alchemiss]

I dunno... I go to a city school and pay $1500 a semester. I make only about 26-30k a year (in NYC). That's pretty affordable IMO. I still go out at night, out to eat, spend $ on recreational activities. Definitely not making close to what I want to, but I know once I've learned more about my passion and field of work that I can put more towards a better job. There's no question that everything going on with large corporations is messed up; however... I'm tired of people just getting a degree and thinking a job will be handed to them. You have to put in work to get something.. is the American dream to just get an education and sit til something comes to you?

 

[2seatport]

People here are so ignorant sometimes. The gross proportion of people who are in trouble should indicate that there's something wrong with the SYSTEM...not all these people being lazy. This isn't just about recent liberal arts majors grads who cant find work, as these news conglomorates want to paint the movement as some clueless self-entitled liberal tea party analog. Older people have lost their savings, their homes, and any kind of monetary wealth they have spent their lives building up because they were deceived, misled, or outright taken advantage of by those in control of this system.

My mom did everything she was supposed to do. Remember in the early 2000's when the best,safest investment around was real estate? When Alan Greenspan told us all to "tap our home equity?"? My mom did that to the max. Every penny she earned she put into the house built up equity till it more than doubled our mortgage balance, and took out an home equity line of credit (HELOC) so everything was gravy. Hell even if our house value stopped growing she at least safer than some mutual fund that would have had Enron stock or something at the time. Then the housing crisis hit and the bank froze her line of credit so she couldn't access her savings. It directly violated the terms of her line of credit but the government, no doubt under the influence of bank-backed lobbyists, says that it's okay to freeze these payouts for the sake of stabilizing the banks cash flow. So basically Gov't overrides something the bank SIGNED that pretty much says "your savings are safe with your home value and you can access it whenever you want". Oh yeah, and she's still on the hook for the monthly interest from the mortgage.

She lost her job last year and the bank, given her "unstable financial situation", denies any sort of reinstatement of access to the equity she put in our house, even though its value more than doubles the mortgage balance. Her LIFE SAVINGS are in there and the bank won't let her access it. It's funny, because the old pamphlet that originally pitched the HELOC to her says that it's a perfect way to keep money available for emergencies, like losing your job. So just like when Will Smith in Pursuit of Happyness put his life savings in the medical devices that no one bought, if all you have are assets that you can't turn into money, its like having nothing at all.

Right now she literally has nothing in her bank account. She spends her day at the library waiting to use their computers so she can apply to jobs and play around with facebook, which I think is one of her only pleasures right now. She was crying on the phone yesterday asking me to save money to pay for her California property tax at the end of the year. She also has bills due in a week that she has no idea what to do about, which I'll probably be paying for.  My job is 500 miles away and between supporting her and living down here with separate living expenses of my own and my own (though manageable) student loans, I'm pretty much living paycheck to paycheck. I'm thankful for the job I have and my health, but as far as right now as being able to build my own future its a standstill with no light at the end of the tunnel. The bank, trying to squeeze every last penny from my Mom, is denying her access to her savings that they told her would be safe and accessible with them, and are now pretty much waiting for her to fall behind on taxes or payments so they can foreclose. The savings she entrusted them with would last her YEARS, easily enough time to figure everything out.  My Mom did everything she was supposed to do and was completely misled by her bank and betrayed by her government. F*** them.

 

[classy freshman]

Originally Posted by 2SeatPort

People here are so ignorant sometimes. The gross proportion of people who are in trouble should indicate that there's something wrong with the SYSTEM...not all these people being lazy. This isn't just about recent liberal arts majors grads who cant find work, as these news conglomorates want to paint the movement as some clueless self-entitled liberal tea party analog. Older people have lost their savings, their homes, and any kind of monetary wealth they have spent their lives building up because they were deceived, misled, or outright taken advantage of by those in control of this system.

My mom did everything she was supposed to do. Remember in the early 2000's when the best,safest investment around was real estate? When Alan Greenspan told us all to "tap our home equity?"? My mom did that to the max. Every penny she earned she put into the house built up equity till it more than doubled our mortgage balance, and took out an home equity line of credit (HELOC) so everything was gravy. Hell even if our house value stopped growing she at least safer than some mutual fund that would have had Enron stock or something at the time. Then the housing crisis hit and the bank froze her line of credit so she couldn't access her savings. It directly violated the terms of her line of credit but the government, no doubt under the influence of bank-backed lobbyists, says that it's okay to freeze these payouts for the sake of stabilizing the banks cash flow. So basically Gov't overrides something the bank SIGNED that pretty much says "your savings are safe with your home value and you can access it whenever you want". Oh yeah, and she's still on the hook for the monthly interest from the mortgage.

She lost her job last year and the bank, given her "unstable financial situation", denies any sort of reinstatement of access to the equity she put in our house, even though its value more than doubles the mortgage balance. Her LIFE SAVINGS are in there and the bank won't let her access it. It's funny, because the old pamphlet that originally pitched the HELOC to her says that it's a perfect way to keep money available for emergencies, like losing your job. So just like when Will Smith in Pursuit of Happyness put his life savings in the medical devices that no one bought, if all you have are assets that you can't turn into money, its like having nothing at all.

Right now she literally has nothing in her bank account. She spends her day at the library waiting to use their computers so she can apply to jobs and play around with facebook, which I think is one of her only pleasures right now. She was crying on the phone yesterday asking me to save money to pay for her California property tax at the end of the year. She also has bills due in a week that she has no idea what to do about, which I'll probably be paying for.  My job is 500 miles away and between supporting her and living down here with separate living expenses of my own and my own (though manageable) student loans, I'm pretty much living paycheck to paycheck. I'm thankful for the job I have and my health, but as far as right now as being able to build my own future its a standstill with no light at the end of the tunnel. The bank, trying to squeeze every last penny from my Mom, is denying her access to her savings that they told her would be safe and accessible with them, and are now pretty much waiting for her to fall behind on taxes or payments so they can foreclose. The savings she entrusted them with would last her YEARS, easily enough time to figure everything out.  My Mom did everything she was supposed to do and was completely misled by her bank and betrayed by her government. F*** them.

Sad story man I wish the best for you and your mother. 
I feel like this occupy Wall St movement could either be the beginning of some serious positive change, or the beginning of our freedoms really being taken away(social media, freedom of speech, etc.)

 

[mitchellicious]

All of you dudes struggling need to move to Australia. Real talk. We've got jobs for days. Our economy is still going strong. Weather is great. People are better. You probably won't understand cricket though, that could be a deal breaker.

 

[devildog1776]

This movement has just begun.... It won't stop until the system is overhauled

 

[whyhellothere]

Originally Posted by Mitchellicious

All of you dudes struggling need to move to Australia. Real talk. We've got jobs for days. Our economy is still going strong. Weather is great. People are better. You probably won't understand cricket though, that could be a deal breaker.

oh really

could care less about cricket, might have to look into this.

 

[moneymike88]

 

[witnesskb24]

Originally Posted by devildog1776

This movement has just begun.... It won't stop until the system is overhauled

Won't happen in this lifetime, hate to break it to ya

 

[getthismoney]

Originally Posted by WITNESSkb24

Originally Posted by devildog1776

This movement has just begun.... It won't stop until the system is overhauled

Won't happen in this lifetime, hate to break it to ya

Not necessarily, if this movement becomes directed towards city halls and washington D.C. instead of aimlessly loafing around wall street it could actually pop off. The movement is catching fire.

 

[kidplay]

Originally Posted by ThrowedInDaGame

I recently started FT at an investment bank.............

1. Top 1% is around 300k income level. Most people at a bank do not approach this income level. Even in IBD, that's mid-level associate.
2. The people who got us into "this mess" are not "bankers". Please stop talking about #*+! you do not understand. I swear most of the wall street protesters do not understand how wall street works or the various job function.
3. A lot of bankers, traders, fund manaegers, research analyst, etc. came from humble backgrounds and simply worked harder than their peers to get into top schools and get good grades.

P.S. Wall Street runs NYC wether you like it or not. Good luck paying for half the #*+! in this town without bank or fortun 500 tax dollars.

you do realize that investment bankers aren't the only bankers right..................
corp fin and mortgage underwriters are also bankers.

 

[thunderchunk69]

midtown runs NYC I'm pretty sure

 

[sonoftony]

Originally Posted by WITNESSkb24

Originally Posted by devildog1776

This movement has just begun.... It won't stop until the system is overhauled

Won't happen in this lifetime, hate to break it to ya

Every city and state is catching on to this movement and it's STILL spreading. Like I told other people, this movement could be epic.

 

[nyota de la star]

I totally agree that the grievances of OWS should be aimed at the government (DC) for allowing such crippling deregulation and corruption in politics.
The interesting thing about America is that for all of the problems we've got....we have always been in denial of the fact
that there IS a class problem. When you starting using certain rhetoric to describe 1 percent of the population as the "job creators" (as if that can't be used to describe anyone else) there is a issue.

Over time, a fine line emerges between capitalism and cronyism. For the past decade or so we've been leaning towards the latter.

 

[mrben23]

I didn't read the entire thread, but I thought I'd mention that it's in Philly now.

 

[mrdoeboi]

U gotta be willing to die for what u believe in, in order for it to come to life. So if these people really keep it up and going and don't back down it can be an epic movement.

 

[classy freshman]

Originally Posted by MrBen23

I didn't read the entire thread, but I thought I'd mention that it's in Philly now.

Where at? City hall?

 

[Betonblck]

Originally Posted by Classy Freshman

Originally Posted by MrBen23

I didn't read the entire thread, but I thought I'd mention that it's in Philly now.

Where at? City hall?

Yea, it was at City Hall but there is a big march starting at 2:30 from like City Hall to the Liberty Bell. 

 

[bayyrd]

Originally Posted by CosmicCanon

Originally Posted by bay1591

She has it pretty made though, her parents pay half of her insurance. Add to that, she didn't mention if she's in debt.

I dont think she is serious...the list is a joke lol

 

[thunderchunk69]

and/or a photoshop

 

[crcballer55]

Originally Posted by Nyota de la star

I totally agree that the grievances of OWS should be aimed at the government (DC) for allowing such crippling deregulation and corruption in politics.
The interesting thing about America is that for all of the problems we've got....we have always been in denial of the fact
that there IS a class problem. When you starting using certain rhetoric to describe 1 percent of the population as the "job creators" (as if that can't be used to describe anyone else) there is a issue.

Over time, a fine line emerges between capitalism and cronyism. For the past decade or so we've been leaning towards the latter.

Deregulation?  How so?  If anything, the finance industry is one of the most heavily regulated industries in the nation.  The problem was not with the regulation, but with the enforcement of the regulations.  The SEC refused to investigate Bernie Madoff after accusations of fraud arose.  Congress refused to audit Fannie & Freddie after one of the chief regulators expressed concern about the quality of their loan portfolios in 2004.  Lehman had almost collapsed in 1999, but nobody at the FED raised an eyebrow even days before when they said they were completely solvent. 

 

[bdeazy]

http://the99percent.com

 

[xilegacy]

People blaming wall street. Almost everyone that gets into public office at one point worked in the private sector and that campaign money comes from that top 1% so without them you can't run a campaign to get elected. Who do you think they will listen to once they get elected? People blaming wall street

The system is beyond flawed morons.

 

[the yes guy]

Originally Posted by crcballer55

Originally Posted by Nyota de la star

I totally agree that the grievances of OWS should be aimed at the government (DC) for allowing such crippling deregulation and corruption in politics.
The interesting thing about America is that for all of the problems we've got....we have always been in denial of the fact
that there IS a class problem. When you starting using certain rhetoric to describe 1 percent of the population as the "job creators" (as if that can't be used to describe anyone else) there is a issue.

Over time, a fine line emerges between capitalism and cronyism. For the past decade or so we've been leaning towards the latter.

Deregulation?  How so?  If anything, the finance industry is one of the most heavily regulated industries in the nation.  The problem was not with the regulation, but with the enforcement of the regulations.  The SEC refused to investigate Bernie Madoff after accusations of fraud arose.  Congress refused to audit Fannie & Freddie after one of the chief regulators expressed concern about the quality of their loan portfolios in 2004.  Lehman had almost collapsed in 1999, but nobody at the FED raised an eyebrow even days before when they said they were completely solvent. 

Well by that logic enforcing regulations should still stop the problem, so you agree with him.