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Forum Post: I'm in the 1% too and I'm Scared of Wall Street

Posted 12 years ago on Oct. 10, 2011, 7:18 p.m. EST by kanisacollings (0)
This content is user submitted and not an official statement

I have savings that I hope to retire on, and they are substantial; I am afraid of what Wall Street has become and unfortunately i understand quite well what it has become because i used to work there. The craazy speculation, the leverage, the out of control trading, is a danger to the financial system and to our economy. I believe that Wall Street has become a danger to the health of the Us economy and that it has to be regulated to protect us from more wealth destruction. The real estate bubble and sub prime mortgage bust was a gift of Wall Street. They have others for us.



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[-] 1 points by randallburns (211) from Washougal, WA 12 years ago

Would you support a tax of 1% on assets over $5 million?

[-] 1 points by 71353933 (85) 12 years ago

Dodd Frank was needed....

All bank's stupidity is reflected in their current stock prices.....

[-] 1 points by karai2 (154) 12 years ago

Thanks for your support!!!!!

[-] 1 points by PoorBen (2) 12 years ago

seeing as you are afraid of what Wall Street has become you know that the answer is simply to ban speculative trading in the stock market and in the commodities markets. Especially the commodities markets. If you are not going to use it or improve it, you can not buy it, no exceptions. If you buy an oil futures on the commodities market you better have someplace to store when you take delivery, or the EPA will be after your ass……

Another good law would be that banks and financial institutions if they buy a stock have to hold it for a year minimum and a private individual for six months. Short sales if allowed on the uptick only.

It is just that simple!

[-] 1 points by docman (1) 12 years ago

I, too, am the 1% and I support the movement. Tell us,and tell us often, what we can do to help.

  1. Yes, allow Bush tax cuts to expire, then get people working with jobs on roads, bridges, electrical. Lets do something with the money sitting on the sidelines. If the wealthy will not spend it for useful purposes, then the government should do so!

  2. Let's get everyone to put a sign in their window facing the street that says "99%"!

[-] 1 points by schnitzlefritz (225) 12 years ago

Just curious...are you for letting ALL of the Bush tax cuts expire?

[-] 1 points by TLydon007 (1278) 12 years ago

I'm actually inclined to think that the majority of the 1% actually support the movement.

[-] 1 points by number2 (914) 12 years ago

Corruption from power is human nature. That's why the people have to be involved and relentless. I'm a tea partier and I have witnessed first hand that these politicians can be removed unless we're too busy watching American Idol.

[-] 1 points by melbel61 (113) 12 years ago

agreed, but again, I will not allow congress/white house (both sides of the aisles and all of the past and president occupants of the white house) to be left off the hook. There are consequences to every piece of garbage legislation that comes out of Washington; they (Congress) were also supposed to have oversight (banking, securities, trading, etc.), and what happened, well we saw the result. not until I see all new faces of people, both in congress and the white house will I believe that we have any chance of any real change. I want to see people who are not lawyers, or former lobbyists, etc. running this country. I want to see ordinary people who understand that we have an out of control federal government, spending my money, and more importantly, my children's future. Then, I will have some hope that we can turn this country around.