Tag Archives: Banks

Occupy Wall Street – so what?

The dilemma the “occupationists” are facing right now is that they are not being heard in the media as they wish they would. Just recently the protestors raised approximately $300K (http://online.wsj.com/article/AP337384456a7249c794f1db2b40ced47f.html). The question remains as in what are the different pathways for the protestors:

I think that there should be certain goals for the occupationists, such as:

1. Separation of banks and everything else (such as trading, hedging, derivatives trading, speculations)

Just like the Church and the state – it is difficult to separate the greedy from money.

2. Effective regulation of the banking sector (a corollary from #1)

3. Legislation to enforce speculations to such a degree that risk the capital of the shareholders without their consent. The shareholders must agree in writing that they are comfortable with losing all their money due to the “investments” the firms may be making on their capital. This is comparable to putting images of people inflicted with throat cancer on cig packages.

And what necessary steps should they be taking next? Lets think about this for now. The occupationists, may have arisen from a crowd that is concious and understands the brewing troubling situation of what we see in the U.S. However, the only way to make legislators feel the wrath is to …. put someone incharge. A leader. A visionary – from amongst them. Only when the Republicans and the Democrats realize that their seats are at steak, only then, they will realize that it may be time for change.

My only concern is that if this protest fails, then we will see less effective protests and gatherings in the future. Don’t make it look like a joke, and don’t let Kanye West or any other celebrity to steal the spotlight from the actual cause.

I hope for the best.

Alpha

My reading list: Enjoy!

Nearly 40% of Europeans suffer mental illnesses (Reuters)

Unemployed face tough  competition: underemployed (AP)

Feds sue big banks over sale of risky assets (AP)

California employment at record low (Bloomberg)

Wealthy use auctions to sell U.S mansions after price cuts fail (Bloomberg)

Twenty-year old coder’s Greplin is one smart search engine (Bloomberg)