Banksters upset. Bonuses waning, everyone is angry at them

Boo hoo hoo, the professional thieving class is feeling very sad. The bubble has popped and all those fat bonuses of yesteryear are gone and may never return. Plus, all those icky people in the street are mad at them, just because they committed innumerable felonies, looted a country, and took D.C. hostage.

The trader, a 27-year-old Ivy League graduate, complained that he has worked harder this year and will be paid less. The headhunter told him to stay put and collect his bonus.

“This is very demoralizing to people,” Karp said. “Especially young guys who have gone to college and wanted to come onto the Street, having dreams of becoming millionaires.”

Pass me a hanky. My friends who clean houses for a living I’m sure will be very upset to learn of the plight of this hapless trader who is probably eking by on just a few hundred thousand and wouldn’t know what ethics or honesty were if he tripped over them.

In the 2008 election John McCain was quoted as saying Wall Street was a bunch of spoiled brats who, if they got bailouts, would keep the money for themselves. He was absolutely correct.

Most of Wall Street essentially are parasite crybabies and belong in prison. That’s what Occupy is about.

Occupy Wall Street growing fast, support coming from all over

I don’t often quote this much, but OWS is growing exponentially and the following is seriously excellent commentary. We are at a pivot point in the country now. Let’s keep the movement growing.

Politics, money and OWS

The OWS protest has legs at this point in history. The failed debate on the stimulus and a USA blank check for the IMF is exactly what the protesters need. A rallying point. I think they will get what they need/want to take this to the next level. It will happen over the next two weeks. As a result, the OWS movement will go nuclear. I wouldn’t be at all surprised if it ends with violence. There are too many cops and way too many angry people. Soon they will have something to be really be angry about.

Dear Occupiers: A Letter from Anarchists.

The problem isn’t just a few “bad apples.” The crisis is not the result of the selfishness of a few investment bankers; it is the inevitable consequence of an economic system that rewards cutthroat competition at every level of society. Capitalism is not a static way of life but a dynamic process that consumes everything, transforming the world into profit and wreckage. Now that everything has been fed into the fire, the system is collapsing, leaving even its former beneficiaries out in the cold. The answer is not to revert to some earlier stage of capitalism—to go back to the gold standard, for example; not only is that impossible, those earlier stages didn’t benefit the “99%” either. To get out of this mess, we’ll have to rediscover other ways of relating to each other and the world around us.

Police can’t be trusted. They may be “ordinary workers,” but their job is to protect the interests of the ruling class. As long as they remain employed as police, we can’t count on them, however friendly they might act. Occupiers who don’t know this already will learn it firsthand as soon as they threaten the imbalances of wealth and power our society is based on. Anyone who insists that the police exist to protect and serve the common people has probably lived a privileged life, and an obedient one.

Open letter to OWS from FedUpUSA, one of the original Tea Parties:

We support you in exercising your First Amendment Right. We are outraged that any peaceful demonstrator would be assaulted or abused by any authorities.

If you are protesting because there are no jobs— We stand with you.

If you are protesting because no one has gone to jail— We stand with you.

If you are protesting because everything costs more— We stand with you.

If you are protesting because you are tired of our bought and paid for government on both sides— We stand with you.

Only Together, can we Implement Change

Karl Denniger, founder of the original Tea Party, delivers a scathing response to Obama’s sleazy evasions. This again shows that the current battle in this country is about the 1% vs. the 99% and not about left vs. right.

So Obama said the other day that “What Wall Street did was immoral, but it wasn’t illegal” in response to a question about why nobody had gone to jail.

Really Mr. President? None of the following is illegal?

Laundering drug money. Wachovia admitted to doing it in court.

The former chief risk officer for Citifinancial testified under oath before the FCIC that the company knowingly sold loans on to investors that did not meet their quality guidelines and published claims. In fact, he testified that by 2007 80 percent of those loans were defective.

Ponzi Schemes generally. Ok, Mr. President, how about all the stock analysts, the market callers, and pension fund managers along with the real estate industry that have been pumping 8, 10 or 11% annualized returns for the last three decades?

Jefferson County Alabama jailed several politicians and others for bribery and other crimes related to the infamous “sewer bond” nonsense. Why have no bankers gone to prison?

Perjury is a felony in most circumstances. Banksters admitted to more than 100,000 instances of it by withdrawing perjured (“robosigned”) affidavit

Sarbanes-Oxley criminalized false accounting statements.

Washington’s Blog

Sorry MSM, but your storyline of communists, socialists, unions, and Obama supporters being the force behind the Occupy Movement is nothing but bullshit. All you old farts on this blog who think the Millenials aren’t worth spit, are about to get a rude awakening. This Fourth Turning is starting to take shape. [Note from Washington’s Blog: “The Fourth Turning” is a book on the cycles of history, endorsed by such a diverse group as Newt Gingrich on the right and Al Gore on the left. “Millenials” is, basically, a group of young people within a certain age range.] A generational war is coming. The Millenials are not dumb. They can see they’ve been screwed by the older generations. They didn’t create this debt. They didn’t make promises that can’t be kept. They didn’t build an unsustainable military empire. But they are the ones being stuck with the debt and no jobs. They have a right to be pissed off.

John Robb. What Occupy is really about

The real reason we are seeing this movement right now is because

Capitalism, the last great ideological system, is in crisis.

This isn’t merely a crisis of outcomes (economic depression, financial panic, etc.), it’s a crisis of BELIEF. While people generally believe in the idea of capitalism, a critical mass of people now think that the global capitalist system we currently have is so badly run, so corrupt, so terrible at delivering results that it needs either a) a complete overhaul or b) we need to build something new.

Our current system is indeed corrupt, compromised, and mostly useless for delivering anything of value. It’s time to take out the garbage on Wall Street.

Sign Language from socially_awkwrd on Vimeo.

Some links via the always excellent Zen Pundit

We’ve been occupied by Wall Street for years

@OccupyTheHood, Occupy Wall Street from adele pham on Vimeo.

American Leftist

The man in this video, Malik from Occupy the Hood… initially went to Occupy Wall Street to observe, noted that figures like Cornel West and Russell Simmons supported it, and, then, based upon this integrated experience, enthusiastically joined the effort. Occupy the Hood is now involved in the organizing of occupations in Detroit and New Orleans. Now, I’ve seen comments on the Internet where people have enigrated Russell Simmons for his support because of his alignment with Obama and mainstream Democratic Party politics, but, in this instance, Simmons helped motivate Malik to actively participate in Occupy Wall Street.

The more we join together, the stronger we become. Sure, there are many that want to jack OWS and make it a fund-raising tool for the Democrats. But that doesn’t have to happen and plenty are on guard against it.

OWS is home-grown, viral, and growing hugely fast. Politicians don’t understand it and are afraid of it. Good.

Chris Pirillo thinks the Occupy Movement has gone too far!

First it’s Pirillo’s dogs Trixie and Wicket. Next thing you know, our cats will be demanding new litter everyday and tuna sushi on demand. Hmmm, why are our cats blocking the door (we have a lot of cats) and refusing to let me leave???

Some grumps on YouTube and Google+ had their panties in a twist because Pirillo wasn’t deemed sufficiently serious. I responded.

I totally support OWS and thought the video was fun.

‘If I can’t dance I don’t want to be part of your revolution’ -Emma Goldman

Giggling is part of that too.

He changed the title of the video to “#Occupy [a Political Satire – Get OUT and Make a Difference!]” to insure everyone gets the point.

Leaderless protest leads to arrests

The arrests at the Brooklyn Bridge during the Occupy Wall Street march probably could have been avoided had the march been led by seasoned organizers.

The police suckered the marchers into the arrest trap. NYPD was on bullhorns saying if marchers went on the bridge they would be arrested. A march led by experienced organizers wouldn’t have entered the trap. They would have stopped at the line then, as thousands backed up behind them and things got tense, negotiated to cross the bridge. That might well have worked.

I helped organize many protests in Los Angeles a few years back, including massive anti-war protests where tens of thousands came. I drove the truck that led several marches. (This was when I was with ANSWER, we’ve since gone our separate ways, to put it mildly. But that’s another story.) During these and other protests, sometimes things got really tense between LAPD and the protesters. Here’s the key part. LAPD knew who to talk to and so did we. Lots of negotiations happened before the march so while we might not have been thrilled with each other, we were on speaking terms. This helps when things get tense.

OWS had no leaders. No one was leading the march. They were newbies and got played for suckers. Oh well, learn from that and move on. But it does illustrate why leaderless resistance doesn’t work in groups beyond a few isolated people in a cell. At some point, there has to be leaders.