|
Occupy Toronto (pg. 41)
|
View this Thread in Original format
| Endlesswave |
| quote: | Originally posted by GGM
I'd say the biggest up on the institutions part was the dishonest packaging of mortgages to sell as investments which ultimately involved mortgage lenders, investment firms, rating agencies and regulatory firms to some degree or another. You're absolutely right in that the consumer played a part by giving their money for things like this but imo you should be able to hand your money to a professional and expect them to manage it with integrity. I wish I could say this blowup would help people learn to do more research and be more cautious but human nature is to forget in 15-20 years, get greedy again and make the same mistakes.
It's all a matter of opinion but the biggest fault lies on the governments the way I see it. We give them taxes to protect us from many things such as war, illnesses, criminals etc. and shady financial dealings at this level should be on that list. Governments and their regulations were the only difference between Canada and the States and the main reason it didn't happen here. |
This. That's what I was trying to say. Thx.
| quote: | Originally posted by pkcRAISTLIN
Agreed on all points, except I think it is hard to expect governments to prevent/mitigate any and all events, especially in instances like this where people weren’t actually breaking any laws (for the most part). That definitely provides scope for regulatory improvement of course, and Australia too was protected from the worst of it due to our regulations. Hopefully lawmakers have learned from this (ha fat chance!). |
I think a point (one of the major ones anyway) in that movie was it was some in the Government who were in esssence bribed by big corporate interests that had changed the laws to make what was once illegal and restricted now legal. This is how this happened to begin with.
Also, of course there's no way they'll change unless stuff like "Occupy" happens to affect change or people refuse outright to buy houses and rent, yeah right. Or vote against the two major party system in the US. |
|
|
| FunkyCrew |
| quote: | Originally posted by Endlesswave
Also, of course there's no way they'll change unless stuff like "Occupy" happens to affect change or people refuse outright to buy houses and rent, yeah right. Or vote against the two major party system in the US. |
so far Occupy hasn't made a dent in people's perspectives from what I gather
if you refuse to buy houses and rent, that's your personal choice and that's fine (I'm doing that)
however majority of renters are still saving for a house/condo - people still want to have their own "nest", so either way, that's not going away
I think the pressure for change has to come from higher up somehow.. |
|
|
| pkcRAISTLIN |
| quote: | Originally posted by Endlesswave
I think a point (one of the major ones anyway) in that movie was it was some in the Government who were in esssence bribed by big corporate interests that had changed the laws to make what was once illegal and restricted now legal. This is how this happened to begin with. |
I would need to see specifics before I passed judgement. Certainly one of the most glaring issues, the lack of regulation for derivatives, wasn’t due to changes in law, they had simply never been regulated. |
|
|
| GGM |
| quote: | Originally posted by pkcRAISTLIN
Agreed on all points, except I think it is hard to expect governments to prevent/mitigate any and all events, especially in instances like this where people weren’t actually breaking any laws (for the most part). That definitely provides scope for regulatory improvement of course, and Australia too was protected from the worst of it due to our regulations. Hopefully lawmakers have learned from this (ha fat chance!). |
Absolutely, and these were somewhat new things they hadn't really encountered before. I doubt they foresaw the combination of things causing so much crap. I think the only chance it'll have of actually changing the way lawmakers think is if the current government debt problem blows up and they link it back to their own poor actions around the crisis. But like you said, fat chance...
| quote: | Originally posted by jon jon
 |
This is definite BS for the little guy. The only part that upsets me about this is the decrease and stagnation in wages for the lower and middle class. When you think about it, CEO pay even at that ridiculous level somewhat makes sense. If you have a multibillion dollar corp reality is that hiring the 15 million dollar CEO instead of the 10 million dollar CEO could easily net you many many more millions than the extra 5 spent. What needs to be cracked down on imo is the massive bonuses that far exceed the person's salary. It's that type of incentive that pushes greedy people to make decisions based purely on netting themselves the most $$$ with a disregard to the effect on the public and even sometimes their own corporation itself. |
|
|
| Endlesswave |
| quote: | Originally posted by pkcRAISTLIN
I would need to see specifics before I passed judgement. Certainly one of the most glaring issues, the lack of regulation for derivatives, wasn’t due to changes in law, they had simply never been regulated. |
Right, there were no laws to begin with except for those that said "There will continue to be no regulation for derivatives". |
|
|
| LightsOut |
So it looks like this movement has fizzled out...
Interesting how its gone from thousands marching in the street, claiming they're the majority and demanding change at all cost.....to a handful of hippies lingering in a park. |
|
|
| FunkyCrew |
| quote: | Originally posted by LightsOut
So it looks like this movement has fizzled out...
Interesting how its gone from thousands marching in the street, claiming they're the majority and demanding change at all cost.....to a handful of hippies lingering in a park. |
funny how the ones arguing with me in this thread have fizzled out as well :) hate to be one to say "told ya so!" |
|
|
| ChemEnhanced |
| does it really surprise anyone that these things fizzle out. Peaceful protest does not create change...all it creates is awareness, which people quickly forget about when no longer in their faces. If they really wanted to create change they would have gone down to 130 King Street West and taken over the building and refused to leave unless their demands were met. Use any and all forces possible to hold their position and fight to the bitter end for change. |
|
|
| jester |
| Burlington, Vt had a shooting :haha: |
|
|
| LightsOut |
I'd respectfully beg to differ, I think peaceful protest can facilitate change.
Take the fall of the Berlin Wall and the Velvet Revolution for example. Not a single shot fired, completely peaceful. However, these were very different protests, in the sense that they were over basic civil liberty and equality, and the buildup lasted 40+ years.
Am I surprised these protests (occupy) fizzled out? Not in the absolute slightest. |
|
|
| ChemEnhanced |
| quote: | Originally posted by LightsOut
I'd respectfully beg to differ, I think peaceful protest can facilitate change.
Take the fall of the Berlin Wall and the Velvet Revolution for example. Not a single shot fired, completely peaceful. However, these were very different protests, in the sense that they were over basic civil liberty and equality, and the buildup lasted 40+ years.
Am I surprised these protests (occupy) fizzled out? Not in the absolute slightest. |
I will agree there have been some peaceful protests that do bring about change but nothing recent nor in North America. Modern Western Culture does not respond to peaceful protest. |
|
|
|
|
