The Occupy Wall Street protests

Discussion in 'Free Speech Alley' started by Cajun Sensation, Oct 17, 2011.

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  1. lsu99

    lsu99 whashappenin

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    Yeah, thanks on the mark to market reference. That was one of the things that came to mind but it's been a few years since I watched the doc. I recall that Enron had a big party when the "rules of the game" were changed because they knew it all of their work in changing legislation had paid off.

    Martin's comment about "if you had a brain you didn't have your retirement tied up in Enron stock" is easy to say in hindsight. Even if only part of your retirement was in Enron, that's still a big hit for a lot of people. Some of those guys worked for companies that were acquired by Enron with all of their pensions transferred. Enron was highly visible and probably seemed like a solid company for awhile.
     
    lsu99, Oct 18, 2011
    #41
  2. red55

    red55 curmudgeon Staff Member

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    Let all the shareholders vote on executive compensation instead of the cherry-picked boards who are usually execs from other corporations all circle-jerking each other. Get rid of the flawed proxy vote system where the executives cast the votes for millions of small shareholders who fail to vote because they have no power. Usually only major stockholders like pension plans have the votes and resources to influence the board. There is no oversight on some of these corporate executives. No limits on perks, bonuses, stock options, and golden parachutes. They vote themselves whatever they want.

    If shareholders get control of their own company they can institute some checks and balances . . . like no bonuses when the stockholder lose money and caps on executive compensation.
     
    red55, Oct 18, 2011
    #42
  3. red55

    red55 curmudgeon Staff Member

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    Just like the tea party, there are a lot of people putting their personal issues into the game, but the 99% movement is about corporate greed.

    Don't be stupid.

    Its been around for a long time, its just getting organized. The Tea party thing showed people that a grass-roots movement can have legs.
     
    red55, Oct 18, 2011
    #43
  4. red55

    red55 curmudgeon Staff Member

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    It's too widespread and can't be avoided. I'm not going to be run off from companies that I own, I want more power invested in the owners, not the overpaid employees who have hijacked the ship.

    But I'm not the only one who feels this way, there is a growing movement among large stockholders who DO have some power to change the system.
     
    red55, Oct 18, 2011
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  5. red55

    red55 curmudgeon Staff Member

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    OWNERS are being cut out of the loop. They should be doing the paying.
     
    red55, Oct 18, 2011
    #45
  6. red55

    red55 curmudgeon Staff Member

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    You are a stooge to the power brokers, I am not.
     
    red55, Oct 18, 2011
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  7. Contained Chaos

    Contained Chaos Don't we all?

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    No, I'm illustrating how asinine it is to suggest that someone just magically become uber-wealthy.
     
    Contained Chaos, Oct 18, 2011
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  8. mancha

    mancha Alabama morghulis

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    I'm on Team Red55 on this thread.

    Martin said on another thread that "the vast majority of people are denying who they truely are"....and that is that we are narcissistic and "we care about others only to the extent that it benefits us". The financial industry and corporate america is a prime example of this narcissism run amuck. Financial regulations were thrown in the trash and the greed became unchecked. An ethical framework is needed for capitalism to work, for any form of freedom to work.
     
    mancha, Oct 18, 2011
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    1 person likes this.
  9. SabanFan

    SabanFan The voice of reason

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    You own a few shares of stock. You are not an owner.
     
    SabanFan, Oct 18, 2011
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  10. Rwilliams

    Rwilliams Veteran Member

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    These corporations that were bailed out by the government would have been allowed to go bankrupt in a true capitalist system. Corporations that have compensation packages that cause bad decisions by it's leaders would have been replaced by others that make better decisions. Aig made bad decisions, paid their executives in a way that encouraged risky bets and paid bonuses it couldn't afford. Aig would have been replaced in the marketplace with a business that made more sound decisions. The government allowed a failed business plan to continue by bailing them out. If enough corporations were allowed to fail a new group of businesses would come in to take their place. The market would correct itself if allowed to work as it should without interference by politicans who have a financial interest in who fails and who doesn't. The government is the problem with the market because it doesn't allow the natural checks and balances to correct poor business decisions. Companies must be allowed to fail so better ones can take their place. The more government involvement the worse things will be. Now it is time for red to kick my arse. I am waiting.
     
    Rwilliams, Oct 18, 2011
    #50
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