Sunday, October 16, 2011

Wall Street Protest

It has become clear that the Occupy Wall St movement won't just fade away as it progressively picks up momentum and attention around the world. It has inspired similar protests in Australia and Europe.

It's not clear whether the protesters have a single agenda or a multitude of gripes that have found an outlet in this spontaneous mass movement. What is clear is the extent of anger and frustration expressed by the protesters.

There is no doubt in my mind that the GFC and the Sub-Prime crisis in America was the direct result of incompetence, greed by the elite who control billions of dollars on Wall St.
The fact that the was too big to be allowed to take it's natural course by the U.S. government, who bailed out those incompetent and greedy bankers of Wall St.

If you want to understand the GFC and Wall St, then you should read Michael Lewis', The Big Short, Inside the Doomsday Machine or watch this video to get a taste.

1 comment:

Mattexian said...

Yeah, the news here had the govt-issued phrase "Too big to fail"(TM) repeated during the bailouts, for the banks, for GM (lots of folks now call it Government Motors, not General Motors). Ford has a new ad campaign that shows "real folks" interviewed about buying a new Ford vehicle, saying they chose a Ford since the company didn't take any bailout money.