Occupy Wall Street May Address Looting by Bank of America and Federal Reserve

[seafan]

Via George Washington at Zero Hedge:


October 19, 2011

Many people are furious that the Federal Reserve and Bank of America have initiated a coup to dump billions of dollars of losses on the American people (and see this).

Many are suggesting that the “Occupy” protesters rally to stop this robbery.

One of the top stories currently on Reddit (one of the top social media sites), is:

OWS and 99%: Please pay attention to this and stop it from happening (BofA and Fed socializing losses)

I understand that the Occupy protesters are, in fact, currently debating making a statement on this theft.

Currently, there are two competing draft statements. This one is from someone very savvy on understanding how the average American thinks:

A portion of the 53 trillion dollars of derivatives (yes that’s with a t, about the size of the entire global economy) transferred to Bank of America’s parent company from Merrill Lynch in 2008 has recently been transferred to Bank of America.

Derivatives contracts in a bank are paid before anyone else gets paid.

Therefore, these derivatives contracts would be paid before depositors receive their money. These people just cut in front of you.

It's very simple, the reason that banks and trading houses were originally separated was to prevent this sort of thing. What’s really going to happen is that the government is going to end up bailing out the FDIC … so this will end up being a government bailout.

You’ll end up getting shafted, either by derivatives holders cutting in front of you or by your having to bail out the FDIC so it can bail out banks depositors. Either way, this is yet another instance of looting by the big banks and big government.

Just say no … don’t let this stand.

.....

(IMHO, that statement is the superior of the two drafts illustrated at the above link.)


Slowly, the dialog is changing into something that people can understand. And for once, the so-called *mainstream media* cannot bury this from the national conversation any longer.


After 30-plus years of right-wing engineered misery and decline in living standards aimed at the vast middle class, finally, people are learning who the real enemies of the people are.


For the first time in many years, I have something that I (distantly) remember as hope for a new, progressive direction for this country.

[Octafish]

1. From OWS lips to Corporate McPravda's Mighty Megaphone.

If we had the kind of Press the Founders had in mind, we wouldn't be in the mess we're in today.

Thank you for the heads-up, seafan. There's a lot of stuff for We the People to address.

[Nuclear Unicorn]

2. Because it worked so well last time and was so wildly popular left, right and center

[chill_wind]

3. k & R.

[jwirr]

4. They have started talking about it but so far have they called for

action? And specifically what can we do as citizens to stop this?

[girl gone mad]

5. It's not either/or.

"You’ll end up getting shafted, either by derivatives holders cutting in front of you or by your having to bail out the FDIC so it can bail out banks depositors. Either way, this is yet another instance of looting by the big banks and big government."

Both will happen.