Michael Lewis: 'There's a Real Chance There's Going to Be an Uprising Against Bankers

This is the very reason these banks should have been allowed to fail.

By rewarding these crooks inside these banks, Bush did the unforgivable treason of destroying the very foundations of capitalism.


And those who screamed against the govt. taking over these banks are right alongside Bush. Anti-American maggots.



Quote from ByLoSellHi:

http://www.huffingtonpost.com/terrence-mcnally/qa-with-michael-lewis-par_b_249538.html


Terrence McNally



ML: That's right. And let me draw an analogy. With the sub-prime mortgage racket generating lots of fees, the people within each big Wall Street firm who create that business acquire enormous power. So when the business gets decreasingly sane, when the loans get shakier and shakier, and the leverage gets bigger and bigger, they're the ones who say we've got to keep doing this. Even though people not directly implicated in the business might have said, "No, it's time to stop."

TM: So there were people within the firms who were sane and conservative ...

ML: There were, and they got driven out.
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Quote from ByLoSellHi:

If things get bad enough, banks will be burned to the ground;yes, in the U.S.ofA.

People who deny the possibility of this are on the wrong side of history, and in denial of the basic premise that history can and does repeat itself.
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if anyone is more "revolutionary minded" in the usa right now it's the tea party crowd. any they would be burning down other targets before banks IMO.
 
The tea-party crowd are mis-guided illiterate foot soldiers of the republican elite.

Which is identical to being the foot soldiers of the corpocracy that has infected DC.

Much of the funding funneled into busing and housing these imbeciles around the country in their recent health care "protests" came from lobbyists with ties to big pharma and insurance.

Using religious based push button rhetoric is the only way the republican elite / big corporations can continue to stay in power with votes from these mis-guided imbeciles.

There is a reason why religious areas are rapidly devolving into cave man levels of education and all sorts of concerted regressive activity is focused in these areas such as more lead in the drinking water and more poison in school lunches.



Quote from sublime-scalper:

if anyone is more "revolutionary minded" in the usa right now it's the tea party crowd. any they would be burning down other targets before banks IMO.
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Quote from short&naked:

History can repeat itself, however in this case, what demographic will burn down the banks? The gen x/yers? No way in hell. The boomers?
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You will be surprised what the younger generations will do when they as a demographic have 20-30% unemployment. All that free time will go to something. I've seen it firsthand in Europe.
 
Quote from Misthos:

You will be surprised what the younger generations will do when they as a demographic have 20-30% unemployment. All that free time will go to something. I've seen it firsthand in Europe.
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If it can happen as the result of a sports team win or loss in a championship game, just imagine what the 18-40 year olds will do when food, shelter, etc. become scarce.

Their rage will be focused on banks and Wall Street, particularly.

Anyone here who thinks things aren't going to get dramatically worse in the U.S. or that their won't be violence as a result is not seeing the forest through the trees (or alleged "green shoots").
 
Quote from ByLoSellHi:

If things get bad enough, banks will be burned to the ground;yes, in the U.S.ofA.

People who deny the possibility of this are on the wrong side of history, and in denial of the basic premise that history can and does repeat itself.
More...


no. this simply isnt going to happen.

there is no anger anymore, the population has been pacified totally via TV, media, alchohol, sports, whatever.

if this was not the case, the underclasses would have risen a long time ago.

time to get with reality--you cannot compare the massive wealth now with any other time in history---

best,

surf


ps. i like lewis and find him entertaining--but he is simply hyping himself. its good PR to make wild claims...
 
Quote from short&naked:

History can repeat itself, however in this case, what demographic will burn down the banks? The gen x/yers? No way in hell. The boomers?
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Yeah, I want to say the gen y/zers are going to be more likely to just leave. I know of several y's who have left or are planning to leave.
 
Quote from nutmeg:

Maybe the unemployed once their bene's run out. I really can't think of a large group of people that would pull this off.
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Are you kidding?

What about those 20-30 year-olds who are finishing school and unable to find a job that pays a living wage?

You think that they're going to put up with this shit forever? They may not appear to have the "initiative" to do something like this now, but they will if the situation doesn't improve soon.
 
Quote from marketsurfer:



time to get with reality--you cannot compare the massive wealth now with any other time in history---

best,

surf
More...

You may find you're viewing life through a bubble.

Last year, the number of Americans with a net worth of at least $30 million dropped 24 percent, according to CapGemini and Merrill Lynch Wealth Management. Monthly income from stock dividends, which is concentrated among the affluent, has fallen more than 20 percent since last summer, the biggest such decline since the government began keeping records in 1959.

http://www.elitetrader.com/vb/showthread.php?threadid=173828
 
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