I hear a lot about banks getting bailouts from protesters and people who agree with the protesters. My question is this: why don't the people mentioning the bailouts ever mention that the banks have all paid back what they received? Another question: If that's one of the main complaints, why are these protests happening after the bailouts have been paid back? I find it ironinc that there are people there protesting banks that have paid back their bailout money while also protesting the fact that they have to pay back their student loans.
if they have jobs, then they are in one way or another working for the evil corporate machine they despise and are trying to stand against are they not (unless of course it's a personal business/family business)?
but it's OK because at the end of the day they are receiving a paycheck and food is getting put on their table, right?
sounds a little misguided if you ask me.
not every employer is part of the evil corporate machine ... but yes, everything is indeed interconnected ... but that hypocrisy still does not change the fact that there is a problem and there are people willing to do something about it ...
I hear a lot about banks getting bailouts from protesters and people who agree with the protesters. My question is this: why don't the people mentioning the bailouts ever mention that the banks have all paid back what they received? Another question: If that's one of the main complaints, why are these protests happening after the bailouts have been paid back? I find it ironinc that there are people there protesting banks that have paid back their bailout money while also protesting the fact that they have to pay back their student loans.
Banks got a bail out with Tax Payers money and then turned around and handed out Bonuses, i'm not just taking anything, we can change reality.
How many people lost there houses thanks to those banks, or are underwater because of it, No help coming there way, how many people owe more than there houses are worth? because of the banks. I owe 26 G on my wifes school loan, i owed 37, 6 years ago and i don't have a problem with it taking me 20 years to pay off the rest, but when i hear more money is owed in student loans then the national debt, i think there something wrong.
which could bring up the point of how do these "protestors" justify the fact that it is OK that their musician/actor/artist idol makes millions upon millions upon millions?
still trying to figure out this one. this would be the definition of hypocritical.
which could bring up the point of how do these "protestors" justify the fact that it is OK that their musician/actor/artist idol makes millions upon millions upon millions?
still trying to figure out this one. this would be the definition of hypocritical.
dude ... everyone's a hypocrite ... it doesn't change the message ... why not focus on the problem instead of looking for reasons to discredit it?
How many people lost there houses thanks to those banks, or are underwater because of it, No help coming there way, how many people owe more than there houses are worth? because of the banks. I owe 26 G on my wifes school loan, i owed 37, 6 years ago and i don't have a problem with it taking me 20 years to pay off the rest, but when i hear more money is owed in student loans then the national debt, i think there something wrong.
it's on the parents to educate a 17/18 year old that is just graduating high school and explain to them the costs of going to a college, and the low down on loans when they complete their four years. student loans should be of no shock to anyone when they receive the first bill in the mail after graduation day.
some kids are fortunate enough to be in a situation where their parents can afford to pay for their entire schooling and not hold the child responsible for a cent after they graduate.
me and my girlfriend? not so much. on top of our 9-5, mon-fri careers were waiting on tables and bartending to pay off this debt. hers are paid off and mine will be paid off this year (5 years after graduation).
again, you choose your own fate. no sympathy for those sitting on their ass waiting for obama to arrive on their doorstep with a big check with a red ribbon tied around it.
it's on the parents to educate a 17/18 year old that is just graduating high school and explain to them the costs of going to a college, and the low down on loans when they complete their four years. student loans should be of no shock to anyone when they receive the first bill in the mail after graduation day.
some kids are fortunate enough to be in a situation where their parents can afford to pay for their entire schooling and not hold the child responsible for a cent after they graduate.
me and my girlfriend? not so much. on top of our 9-5, mon-fri careers were waiting on tables and bartending to pay off this debt. hers are paid off and mine will be paid off this year (5 years after graduation).
again, you choose your own fate. no sympathy for those sitting on their ass waiting for obama to arrive on their doorstep with a big check with a red ribbon tied around it.
Yeesh, you are good man, i worked a second job at Mc'ds(and that shit aint easy)for 7 months in wife's 3rd year in collage, i was like zombie, i value my weekends more than my future
Banks don't force people to take out student loans. People choose to take them out. Yes, college is expensive but there are cheaper options available to people, it's jsut that most people ignore them. For example, how many kids decide to attend a private college/university or go to a school out of state when there are cheaper state schools they can attend? I would have loved to attend a big school in another state but that would have cost way more than I'd be able to afford, so I went with an in-state school. People can save money by going to community college for a couple years and transferring to an in-state school for the last 2. It's amazing how much cheaper that is. I can't think of a reason why someone who voluntarily applies for and receives a student loan shouldn't have to pay it back. It's not like you don't find out how much school costs until you finish. You know going in how much it costs and how much you're borrowing. Someone attending college should be smart enough to figure out at an expensive school is going to result in large monthly loan payments if they need loans to attend.
As for people losing their homes, I don't think too many people have lost their homes because banks received bailouts. It's the other way around. Banks gave out loans to people who couldn't afford the mortgages and there were so many bad loans that the banks were in serious trouble. Part of the reason for those bad loans was the fact that the government encouraged them to lend in those types of situations and they were dumb enough to do it. That's why some banks had problems and other banks with stricter lending practices not only avoided those problems but actually became stronger due to their responsibility and risk management. There were certainly some banks that were worse than others and there were likely some smaller mortgage brokers that were offering mortgages they shouldn't have approved and selling them off to larger banks. Instead of focusing on those specific companies, though, the protesters are yelling about "the banks" as if every bank in the country was intentionally trying to ruin people's lives. Instead of generalizing about "the banks" and "Wall Street" why not do something that will actually make a real difference like boycott banks like Bank of America that were the worst offenders and still treat customers like dirt? That will actually affect the company. These protests aren't having any impact on them right now because standing in a park, sleeping in a tent, forming drum circles, and blocking commuters doesn't change their profits one way or the other.
I hear a lot about banks getting bailouts from protesters and people who agree with the protesters. My question is this: why don't the people mentioning the bailouts ever mention that the banks have all paid back what they received? Another question: If that's one of the main complaints, why are these protests happening after the bailouts have been paid back? I find it ironinc that there are people there protesting banks that have paid back their bailout money while also protesting the fact that they have to pay back their student loans.
Banks got a bail out with Tax Payers money and then turned around and handed out Bonuses, i'm not just taking anything, we can change reality.
How many people lost there houses thanks to those banks, or are underwater because of it, No help coming there way, how many people owe more than there houses are worth? because of the banks. I owe 26 G on my wifes school loan, i owed 37, 6 years ago and i don't have a problem with it taking me 20 years to pay off the rest, but when i hear more money is owed in student loans then the national debt, i think there something wrong.
You're right. I went to St. John's when it was about $11,000 per year in 1997. My financial aid consisted of a few small loans, which I pay back every month. It also consisted of a few academic scholarships, grants-in-aid and work study aid.
Now that same school which was a commuter school when I started, is a school that costs over $30,000 a year likely because of the construction costs of building new dorms and other buildings. Unless I'm getting a full academic, athletic or any kind of scholarship, there's no chance in hell I'd go there or any private school if I was a senior in high school.
Reading 2004
Albany 2006 Camden 2006 E. Rutherford 2, 2006 Inglewood 2006,
Chicago 2007
Camden 2008 MSG 2008 MSG 2008 Hartford 2008.
Seattle 2009 Seattle 2009 Philadelphia 2009,Philadelphia 2009 Philadelphia 2009
Hartford 2010 MSG 2010 MSG 2010
Toronto 2011,Toronto 2011
Wrigley Field 2013 Brooklyn 2013 Brooklyn 2013 Philadelphia 2, 2013
Philadelphia 1, 2016 Philadelphia 2 2016 New York 2016 New York 2016 Fenway 1, 2016 Fenway 2, 2018 MSG 2022 St. Paul, 1, St. Paul 2 2023 MSG 2024, MSG 2024 Philadelphia 2024
"I play good, hard-nosed basketball.
Things happen in the game. Nothing you
can do. I don't go and say,
"I'm gonna beat this guy up."
No one is saying that people lost their homes because of bailouts. They're pissed that they lost their homes, while the banks were kept afloat. It's ok for the govt to give the banks money to get thru tough times, but not the customers? Esp when, in the meantime, the people in control of the banks who started the mess (with govt help), still paid themselves 8 figure bonuses. It's the epitome of unethical...
And to the last part - the OWS movement has spurred several boycotts, bank runs, started discussion on the best way to proceed with further actions, etc etc etc.....if you don't see that these protest actions began because of the people in the tents, forming drum circles, blocking commuters, it's because you choose not to.
I don't know if you're refering to my post or not. If you are, then I was responding to BinauralJam's post that asked, "How many people lost there houses thanks to those banks?" That's putting direct blame on the banks.
I agree that it was questionable for those bailed out executives to get bonuses. Unfortunately, those bonuses were contractual obligations so the banks had to pay them. I always felt that the government should have included a provision in the bailouts that executives at the highest levels of those banks could not collect any bonuses owed until the bailouts were repaid, but that didn't happen. In my company, every executive's bonus is tied to the company's performance. I'm glad to work someplace like that and certainly don't think bonuses that aren't performance-based do anything to help the company succeed. I know that I wouldn't feel right getting a million-dollar bonus after leading my company to the brink of collapse and I don't know how those executives could not feel the need to return them that year, but they weren't required to return them so there's not much anyone can do about it.
As for why the banks and other companies were bailed out, they were viewed as being too important to our economy for the government to let them fail. Unemployment is horrible now, but it could have been much worse if some of those companies disappeared completely. HBO has a movie about it that goes into a lot of the back room discussions and arguments within the government and various banks and investment firms leading up to the bailouts and shows why certain companies were bailed out.
As I said before, I don't understand why the bailouts have been such a big talking point among the protesters in 2011. They're going back 2-3 years and protesting bailouts that have already been paid back. They're a little late to the party on that issue. I understand that they have other concerns besides that, but it seems like the one that gets thrown out the most along with, "They don't pay their fair share."
No one is saying that people lost their homes because of bailouts. They're pissed that they lost their homes, while the banks were kept afloat. It's ok for the govt to give the banks money to get thru tough times, but not the customers? Esp when, in the meantime, the people in control of the banks who started the mess (with govt help), still paid themselves 8 figure bonuses. It's the epitome of unethical...
And to the last part - the OWS movement has spurred several boycotts, bank runs, started discussion on the best way to proceed with further actions, etc etc etc.....if you don't see that these protest actions began because of the people in the tents, forming drum circles, blocking commuters, it's because you choose not to.
Comments
not every employer is part of the evil corporate machine ... but yes, everything is indeed interconnected ... but that hypocrisy still does not change the fact that there is a problem and there are people willing to do something about it ...
How many people lost there houses thanks to those banks, or are underwater because of it, No help coming there way, how many people owe more than there houses are worth? because of the banks. I owe 26 G on my wifes school loan, i owed 37, 6 years ago and i don't have a problem with it taking me 20 years to pay off the rest, but when i hear more money is owed in student loans then the national debt, i think there something wrong.
still trying to figure out this one. this would be the definition of hypocritical.
dude ... everyone's a hypocrite ... it doesn't change the message ... why not focus on the problem instead of looking for reasons to discredit it?
it's on the parents to educate a 17/18 year old that is just graduating high school and explain to them the costs of going to a college, and the low down on loans when they complete their four years. student loans should be of no shock to anyone when they receive the first bill in the mail after graduation day.
some kids are fortunate enough to be in a situation where their parents can afford to pay for their entire schooling and not hold the child responsible for a cent after they graduate.
me and my girlfriend? not so much. on top of our 9-5, mon-fri careers were waiting on tables and bartending to pay off this debt. hers are paid off and mine will be paid off this year (5 years after graduation).
again, you choose your own fate. no sympathy for those sitting on their ass waiting for obama to arrive on their doorstep with a big check with a red ribbon tied around it.
Yeesh, you are good man, i worked a second job at Mc'ds(and that shit aint easy)for 7 months in wife's 3rd year in collage, i was like zombie, i value my weekends more than my future
As for people losing their homes, I don't think too many people have lost their homes because banks received bailouts. It's the other way around. Banks gave out loans to people who couldn't afford the mortgages and there were so many bad loans that the banks were in serious trouble. Part of the reason for those bad loans was the fact that the government encouraged them to lend in those types of situations and they were dumb enough to do it. That's why some banks had problems and other banks with stricter lending practices not only avoided those problems but actually became stronger due to their responsibility and risk management. There were certainly some banks that were worse than others and there were likely some smaller mortgage brokers that were offering mortgages they shouldn't have approved and selling them off to larger banks. Instead of focusing on those specific companies, though, the protesters are yelling about "the banks" as if every bank in the country was intentionally trying to ruin people's lives. Instead of generalizing about "the banks" and "Wall Street" why not do something that will actually make a real difference like boycott banks like Bank of America that were the worst offenders and still treat customers like dirt? That will actually affect the company. These protests aren't having any impact on them right now because standing in a park, sleeping in a tent, forming drum circles, and blocking commuters doesn't change their profits one way or the other.
Now that same school which was a commuter school when I started, is a school that costs over $30,000 a year likely because of the construction costs of building new dorms and other buildings. Unless I'm getting a full academic, athletic or any kind of scholarship, there's no chance in hell I'd go there or any private school if I was a senior in high school.
Albany 2006 Camden 2006 E. Rutherford 2, 2006 Inglewood 2006,
Chicago 2007
Camden 2008 MSG 2008 MSG 2008 Hartford 2008.
Seattle 2009 Seattle 2009 Philadelphia 2009,Philadelphia 2009 Philadelphia 2009
Hartford 2010 MSG 2010 MSG 2010
Toronto 2011,Toronto 2011
Wrigley Field 2013 Brooklyn 2013 Brooklyn 2013 Philadelphia 2, 2013
Philadelphia 1, 2016 Philadelphia 2 2016 New York 2016 New York 2016 Fenway 1, 2016
Fenway 2, 2018
MSG 2022
St. Paul, 1, St. Paul 2 2023
MSG 2024, MSG 2024
Philadelphia 2024
"I play good, hard-nosed basketball.
Things happen in the game. Nothing you
can do. I don't go and say,
"I'm gonna beat this guy up."
And to the last part - the OWS movement has spurred several boycotts, bank runs, started discussion on the best way to proceed with further actions, etc etc etc.....if you don't see that these protest actions began because of the people in the tents, forming drum circles, blocking commuters, it's because you choose not to.
I agree that it was questionable for those bailed out executives to get bonuses. Unfortunately, those bonuses were contractual obligations so the banks had to pay them. I always felt that the government should have included a provision in the bailouts that executives at the highest levels of those banks could not collect any bonuses owed until the bailouts were repaid, but that didn't happen. In my company, every executive's bonus is tied to the company's performance. I'm glad to work someplace like that and certainly don't think bonuses that aren't performance-based do anything to help the company succeed. I know that I wouldn't feel right getting a million-dollar bonus after leading my company to the brink of collapse and I don't know how those executives could not feel the need to return them that year, but they weren't required to return them so there's not much anyone can do about it.
As for why the banks and other companies were bailed out, they were viewed as being too important to our economy for the government to let them fail. Unemployment is horrible now, but it could have been much worse if some of those companies disappeared completely. HBO has a movie about it that goes into a lot of the back room discussions and arguments within the government and various banks and investment firms leading up to the bailouts and shows why certain companies were bailed out.
As I said before, I don't understand why the bailouts have been such a big talking point among the protesters in 2011. They're going back 2-3 years and protesting bailouts that have already been paid back. They're a little late to the party on that issue. I understand that they have other concerns besides that, but it seems like the one that gets thrown out the most along with, "They don't pay their fair share."
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