Banker gets OWNED at Occupy Sarasota, Florida -- October 6, 2011

[Pharaoh]

Run time: 02:30 https://www.youtube.com/watch?v=C_o5bwsLIBM   Posted on YouTube: October 06, 2011 By YouTube Member: in5d Views on YouTube: 5411   Posted on DU: October 08, 2011 By DU Member: Pharaoh Views on DU: 4260

 

[dorksied]

1. These pigs need to be roasted and eaten.

[pearl]

2. That was something

I am laughing my --- off.

[FBaggins]

3. Actually... much of what that guy said was absolutely correct.

The problem is that he was standing in front of BofA.

There are good banks out there and there are banks that were forced to take tarp and not allowed to pay it back early...

...but this isn't one of them.

[RBInMaine]

13. The BIG banks and financial institutions BEGGED for the bailouts. The reason why many smaller banks

were "forced" to take the TARP money was to ensure the financial system was shored up across the board in midst of a major crisis. The re-payments happen according to a schedule. So what if the government wasn't prepared to take all of it back at a given time. Those funds could have been secured until the timing triggered in. As of now, much has actually been repaid. The bigger points though are that executive financial bonuses have continued, global speculation has continued, the financial institutions are not shoring up mortgages and lending money for small business start-ups as they now should, and fat-pig institutions like Bank of America and others are gouging the hell out of small businesses and consumers with their bullshit fees for debit cards, etc. They don't invest solely in the local economy anymore. They gamble in the global casino, and this TeaBagGreedyAssholeBanker is just another fascist fuckwad who lives to fatten his wallet as much as his gut.

[FBaggins]

14. Many of them did... but not all.

Though I guess it depends on what you mean by "BIG".

The reason why many smaller banks were "forced" to take the TARP money was to ensure the financial system was shored up across the board in midst of a major crisis.

Close enough. The idea was that many of the banks that needed the money were afraid to take it because doing so would make clear to the public which banks were stable and which ones were walking dead. So even taking the money wouldn't help them because their customers would flee. So the government had to compel ALL of the larger banks to take the money... to hide which ones were zombies and which were comparatively solid.


The re-payments happen according to a schedule. So what if the government wasn't prepared to take all of it back at a given time. Those funds could have been secured until the timing triggered in.

See... the problem here is that those "good" banks not only didn't need the money... they didn't want it. The government made clear to them that it was necessary to save the system and that it wouldn't be held against them.

But that all changed as it became clear that the public thought of all the banks that took the money as cut from the same cloth. The backlash ended up spouting things like the limitations on dividends and bonuses. Those "good" banks justifiably complained and wanted out of the box they had been foced into... and were told that they couldn't. Add to that the fact that those banks probably would have picked up TONS of new business if the "bad" banks were allowed to fail... and you can probably imagine why they're upset.

[JDPriestly]

17. Read the recent SIG Tarp

and find out what really happened. Here is the report which you can read or scan as you wish.

http://www.sigtarp.gov/reports/audit/2011/Exiting_TARP_Repayments_by_the_Largest_Financial_Institutions.pdf

Here is a news article about the report.

http://dailybail.com/home/sigtarp-report-bank-of-america-wells-fargo-citigroup-left-ta.html

5 law firms were paid more than $27 million to handle TARP issues. The following is a link to a report on the audit of billing of the law firms that were hired to do the work.

http://legaltimes.typepad.com/files/g-09-ofs-contracting-final-11-004-09-28-2011.pdf

[corkhead]

4. all he needs is the sunglasses...

[jerseyjack]

10. The guy was right. Some of the banks were forced to take bailout money.

A derivative, by the way is simply bet based on future valur of an economic unit, plan or function or eommodity. For instance, if you are betting the Euro will fail, you are buying or selling a derivative of that currency. Or you could buy euros or borrow euros and do the same thing on a smaller scale.

[EvilMonsanto]

5. They should have left him speak

Honestly, if this movement is true then let the opposition speak
I do believe the movement is true, ABSOLUTELY!!!!!!

But there are a few people there who don't know what they are fighting for
Such people are a threat to a true movement
I'm sure they don't represent a majority, but you have to educate yourself before engaging in these situations

This video was a not a win for us
People screaming at a banker willing to speak is not revolutionary, it is in fact anti-revolutionary

What a MISSED opportunity!

[nineteen50]

7. It's

nice to shift back some of the fear they have created for so
many, but they are people and that should come with some
respect.

[PopeRatzo]

9. win/win

People screaming at a banker willing to speak is not revolutionary, it is in fact anti-revolutionary

Sometimes, it's enough to let them feel what everyone else has been feeling. It's not the ultimate goal, but it's a stop along the way. When you are used to the world bending to your will learning that there are other people in it can be the most revolutionary act of all.

As long as they're not violent, I'm not going to accept one bit of criticism of the Occupy Wall Street movement. Protest for its own sake is a worthwhile first step.

[CJCRANE]

21. Both sides got their points across.

I think that's a good start. It's the beginning of a bigger conversation.

[starroute]

6. Maybe we have to start circulating the idea that banking is a community service

Banking provides two primary services. One is to hold people's money securely and make it available to them when they need it. The other is to lend out that same money so that local people can buy homes, local businesses can grow, and local farmers can buy seeds and fertilizer in expectation of paying it back after the harvest. The interest the banks get from loaning out their customers' money can then go into making the customers' accounts free or even interest-bearing.

But when bankers start thinking they are in business to maximize their profits, this gets warped. Instead of investing locally, they start gambling in the global casino. And instead of thinking of themselves as owing something to their customers for the use of their money, they start plotting how many fees they can add on to gouge the people who deposit money with them.

Ultimately, I think we will have to radically change the way we think about banks. We will have to start treating them as a kind of public utility -- like water or highways or broadband service -- that exists only to the extent that it enables society at large to function more smoothly and effectively. And anything else -- including bloated profits and inflated salaries -- should be a reason for withdrawing their license to exist.

[L0oniX]

12. Join a credit union(not for profit) ...close your bank account.

I get 2 chkn accounts ...1 for Ebay and the other for everything else ...minimum balance $200 each ...no chking or debt card fees ...8.9% credit card ...I'm loving it!

[Dr Rise]

23. I couldn't agree more...

I never looked at banks as a 'businesses'. Always saw them as an entity that serves us, not SERVES us!
Remember "Too big to fail". I'm looking into credit unions.

[AsahinaKimi]

8. Typical republican teabagger..

Thinking he is smarter and better off than everyone else. His arrogance reeks to high heaven.

[L0oniX]

11. "give back to the community instead of buying a fucking Lexus" ...luv it!

[pacalo]

18. +1.

:applause:

[DianaForRussFeingold]

15. K&R What are "Financial Derivatives" ?

:shrug: Too bad the protesters didn't ask the banker...
I really would have liked to hear him explain...!

:kick:

[KansDem]

20. Me, too!

I've read descriptions of "financial derivatives" and still don't quite understand them!

I guess you've got to "show me" (I do live across the street from Missouri!) :D

[JDPriestly]

16. Compare the girth on that banker with the narrow waists of the protestors.

Tells the whole story.

[KansDem]

19. Classic

...but no doubt he has stellar health insurance to cover the inconveniences of diabetes, heart disease, and the like.

[JDPriestly]

22. Right. Straight out of the cartoons of the 1930s.