'1%' CEO Confronts Occupy Protesters

[Ulic Qel-Droma]

Originally Posted by Redlines_Daily

99% of the posters in this thread are more clueless than the protestors in those videos.

Occupy wall st was not about money, it was the bandwagon hippy protestors that turned this into a rich vs poor debate. The original movement was not against "the 1%" or the amount of wealth they have. It was about the way big business corrupts policy making and effects the global economy. Key players on wall st had a huge role in causing a global recession, while they made record profits. It's not about they money they made...it's about how they made it. What was done is criminal, these guys should be in jail. I'm all for profit, I was a trader on NYSE for two years, but I believe profit should be made ethically...enough of this "anything goes" attitude on wall st.

The original creators of the movement had all of your best interests in mind..you should be thanking them for starting it, not laughing when they fail.

The survival response of popular culture these days is cynicism(-Stephen covey)... how sad.

1) The original intent of occupy wall street has been lost. i am only focusing on what is happening now. what occupy wall street has become.

I'm sure jesus intended good, but look at christians now

the only thing that matters is the now.

2) the term "ethical" is subjective.

3) side question (just a personal inquiry, im a trader as well), why arent you a trader there any more?

[SkinnyPupp]

For every moron who spouted off at this guy in the videos, it looks like there were 4 or 5 who quietly listened, and accepted the information he was giving, knowing the he is on THEIR side of the argument.

Please America, just elect Ron Paul and fix your fucking country so we can move on with or lives

[Redlines_Daily]

Originally Posted by Ulic Qel-Droma

3) side question (just a personal inquiry, im a trader as well), why arent you a trader there any more?

I traded my own account at home part-time for several years during university then I got hired with a firm, traded with them professionally for 2 years. Transferred to another firm, they let me trade remotely from home which was great in the beginning, but got a little lonely at times.. I would finish work at 1pm everyday while all my non-trader friends worked regular business hours..of course I would have to go to bed super early to get up in time for the new york open, so my social life suffered quite a bit. I loved trading..it's a high I can't really explain..I just love being in control and watching the numbers click away. The money was great, I had more than I knew how to spend, but I wasn't feeling happy in life..needed something more fulfilling. I made the very difficult choice to quit my job and return to school. I now have a new career that I adore, and I still trade my own account from home but I'm not involved with the market like I used to be.

Wow, sorry for the long winded reply! Didnt intend on writing an auto-biography, but there you have it .

[Liquid_o2]

peter schiff made some really stupid points in these videos. Not that the occupy protestors were doing any better of a job.

I loved the part where he was discussing Wal-Mart employees, and if they don't like their wages and work conditions they should just leave and get another job. Is he that out of touch with reality???

I'm all for capitalism and less government regulation, but a lot of the stuff that came out of his mouth was stuff that the upper-middle class just loves to hear. He seems to think that corporations have nothing to do with the problem and the problem solely is on the shoulders of the government. As long as corporations are employing people they are doing their job in his mindset.

[gdoh]

fuck can they get some1 on there that can talk like a normal person and not shout because they are retards and have nothing smart to say, just say random things

I LOVE LAMP

[Hehe]

I think the problem with capitalism that we currently having is that we are not running a true capitalism.

For true capitalism, the free market must exist. But the problem is with the government. We have too much political influence in our economy, and policy makers believe that such influences are at the people's interest (thus getting them votes)

For example, there were major bailout from the government (in several countries) to big industries like banking, automobiles... etc. The fact is, the government should just let these big corporations to die. People argue that there would be a massive job loss, depression... etc. But this is BULLSHIT.

When a company like GM fails, would people simply stop seeing new cars being on the road? Nop... other car companies (whose business model is working) would simply takeover. These companies would then hire those ex-GM employees (assuming they are still competitive in related skills) in order to manage all the necessary business activities.

Same thing with the bank, if a giant bank fails and cause a massive domino effect in the banking industry, it could only mean one thing, the original model wasn't working. So, those whose models work would survive and resurface as the winner. All the jobs would eventually be filled because the collapse of banks did not make the market smaller. The people are still there and those services are still needed.

With government intervention, what they do is putting people's money (the funding of govt) into private businesses that do not have a working business model. The collapse is just a matter of time if there is no fundamental change in their business models.

While doing the government intervention, a majority of funding gets transferred into pockets of the wealthy. So, now govts all over the world are deeply in debt, while the poors are still poor if not poorer.

The true solution is to let the market fail. We are human. We can't guarantee anything. But we will always prevail even when there are sacrifices. When everything restarts, it is going to be better. We would have business models that work, jobs that are actually stable and less people complaining.

[GabAlmighty]

Is this turning into another OWS debate? Awesome.

[SkinnyPupp]

Originally Posted by Liquid_o2

peter schiff made some really stupid points in these videos. Not that the occupy protestors were doing any better of a job.

I loved the part where he was discussing Wal-Mart employees, and if they don't like their wages and work conditions they should just leave and get another job. Is he that out of touch with reality???

I'm all for capitalism and less government regulation, but a lot of the stuff that came out of his mouth was stuff that the upper-middle class just loves to hear. He seems to think that corporations have nothing to do with the problem and the problem solely is on the shoulders of the government. As long as corporations are employing people they are doing their job in his mindset.

I think the point he would have made, if not being yelled at every time he tried to get to the main point, is that's how it SHOULD be in a pure capitalist society, not a socialist one USA has become.

[quasi]

Originally Posted by SkinnyPupp

I think the point he would have made, if not being yelled at every time he tried to get to the main point, is that's how it SHOULD be in a pure capitalist society, not a socialist one USA has become.

Yeah, I think he was trying to get at that if it was such a terrible wage and slave labour that if everybody quit they'd have no choice but to pay more and improve working conditions. He's getting talked over so he just sumarized it, quit and go somewhere else. The whole system is flawed which is the point he's trying to get at if forced the market would fix itself but everybody is just complacent and takes it.

[JD¹³]

Schiff makes an incredibly DUMB point in asking for less regulation on Wall St. REALLY!? After WWII the United States' economy slowly grew and boomed through the 50's and 60's because the banks, lenders, and investors were regulated. At that time they were actually gambling with their own money and would have suffered the consequences if investments went south. The de-regulation of the financial industry in the United States is what allowed the greed of banks to fuck the American people and in turn the global economy. They eliminated risk from anyone who lended money, and even allowed banks to bet on the failure of the shitty loans they gave out. It started in the late 70's and snowballed to where we are now. It also allowed the banks to infiltrate politics with monetary influence because they were raking in billions with "no risk". Wall Street might have drank the booze served by the Government, but Wall Street gave them the fucking bottle!

The only way the situation can ever be resolved is if the US government stop taking bribes in the form of campaign contributions, kick lobbyists out of the White House, and actually ACT on blatant illegal and unethical business practices and reel the greedy fucks back into control. Business and State should be separate just like Church and State, and until that happens the United States will never get itself out of the cluster fuck it has created. Everyone thought Obama was going to make that happen. He talked the talked. But he and his administration are puppets of Wall Street just like those before him:



The day traders on Wall St aren't to blame, and if they're being targeted by these protests it is completely misguided anger. They are like soldiers in the military, they do what they're told and operate within the parameters that they are given. The real 1% are the Board of Directors and CEO's of the banks who created and lobbied for the policies that could extend and fuel their greed, and the Government officials who knew laws were being broken but turned a blind eye because the banks were stuffing cash in their back pockets. If the protesters had a clue what they were even protesting they might have stood a better chance arguing with the CEO who himself is arguing points that dodge the real issue. Nobody gives a fuck how much he pays in taxes or how many people he employs.

[The7even]

Originally Posted by SkinnyPupp

I think the point he would have made, if not being yelled at every time he tried to get to the main point, is that's how it SHOULD be in a pure capitalist society, not a socialist one USA has become.

I agreed with almost everything he said.. but the US is nowhere near being socialist, that's just silly talk and shouldn't be taken seriously.

With that said.. Socialism is the best system period. (...on paper).

[The7even]

Originally Posted by Redlines_Daily

I traded my own account at home part-time for several years during university then I got hired with a firm, traded with them professionally for 2 years. Transferred to another firm, they let me trade remotely from home which was great in the beginning, but got a little lonely at times.. I would finish work at 1pm everyday while all my non-trader friends worked regular business hours..of course I would have to go to bed super early to get up in time for the new york open, so my social life suffered quite a bit. I loved trading..it's a high I can't really explain..I just love being in control and watching the numbers click away. The money was great, I had more than I knew how to spend, but I wasn't feeling happy in life..needed something more fulfilling. I made the very difficult choice to quit my job and return to school. I now have a new career that I adore, and I still trade my own account from home but I'm not involved with the market like I used to be.

Wow, sorry for the long winded reply! Didnt intend on writing an auto-biography, but there you have it .

What do you do now?

[MindBomber]

Originally Posted by The7even

I agreed with almost everything he said.. but the US is nowhere near being socialist, that's just silly talk and shouldn't be taken seriously.

With that said.. Socialism is the best system period. (...on paper).

Socialism and capitalism share the shame two fatal flaws, human nature and money. Since changing human nature, specifically greed, fundamentally opposes our genetics and is clearly impossible, eliminate the later, money. Money has never done anyone any favours, its the reason for so much of the evil in this pathetic world it's difficult to conceive. Of course, as a society, we're centuries away from anything that evolved. One can only hope, Gene Roddenberry's predictions were accurate and one day we do reach that stage..

[The7even]

Originally Posted by MindBomber

Socialism and capitalism share the shame two fatal flaws, human nature and money. Since changing human nature, specifically greed, fundamentally opposes our genetics and is clearly impossible, eliminate the later, money. Money has never done anyone any favours, its the reason for so much of the evil in this pathetic world it's difficult to conceive. Of course, as a society, we're centuries away from anything that evolved. One can only hope, Gene Roddenberry's predictions were accurate and one day we do reach that stage..

agreed 100%...

I do think we're on the verge of it now though.. because of technology.

Maybe that's what the whole 2012 mayan thing is all about (I hope, but don't believe in a 2012-anything) an awakening .. lol

[mr_chin]

1) The 99% and 1% is just a phrase used to seperate the protestors and the people the people they are protesting. Taxing the rich was probably phrased later by some idiots who is jealous that the rich is getting richer.

2) This protest isn't going to change anything. Leave the country or continue on with their lives.

3) Wall Street is not where they should be. The federal government is the one they are after. Wall Street is just playing by the rules and within policy. If a kid in a class beats up other kids and the teacher doesn't do anything about it, where is the source of the problem?

4) Occupy Wall Street had the right intention, but now everyone just wants to voice in with their own opinion and it's steering off track. Some very uneducated people are just trying to jump on the bandwagon. I think what everyone in this Occupy wants now is the rich to give back to the poor, when they they shouldn't.