Forum Post: Its Wall Street not Corporations
Posted 13 years ago on Oct. 16, 2011, 11:51 p.m. EST by fixwallstreetnow
(42)
from San Francisco, CA
This content is user submitted and not an official statement
I see people complaining about all the "corporate greed." Corporations are not the problem, business is not the problem. The problem is Wall Street and finance, now 40% of US corporate profits in the hands of 6 banks. Add in hedge funds and Private Equity and almost 65% of the profit in America goes into the hands of a few thousand people. We have individuals making more than the Coca-Cola company. That is incredibly wrong. We need to reign in finance.
Check out this list. People are going crazy about CEOs making a few million. How about people making a FEW BILLION A YEAR!
2010 Hedge Fund PERSONAL INCOME Top earnings (Only one year of income!) :
John Paulson made $4.5 Billion Ray Dalio $3.1Billion James Simons $2.5 Billion David Tepper $2.2Billion, etc.
All paid less than 16% tax rates on their income, none of them built anything. The list goes on and on. (source: forbes)
The Occupy Wall Street movement needs to be redirected to be Occupy the Fed. We were never taught in school how and why the Fed was underhandedly started. We were never taught the destruction of fractional banking and the powerful dynasty that owns the Bank of England and the Fed. Wall Street is only an instrument, the controlling entity needs to be held accountable, not the front. However, isolating the problem and exposing it is dangerous without having an alternative resolution because the private entity that controls the Fed could actually manipulate the economy beyond the precipice into complete depression.
"The United States Court of Appeals for the Ninth Circuit stated that: "The Reserve Banks are not federal instrumentalities for purposes of the FTCA [the Federal Tort Claims Act], but are independent, privately owned and locally controlled corporations." http://en.wikipedia.org/wiki/The_Federal_Reserve
The founding fathers of this country predicted the situation that we are in now, it's going to take a massive public education movement to alter course.
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." Thomas Jefferson, (Attributed) 3rd president of US (1743 - 1826)
Please start educating the American public as to how they can demand change as well as an economic alternative for them to support. This can't be the responsibility of a few, human life is expendable as history as shown.
The following two links document the history of the banks and what the American public is never told in school (unless they are Economic majors).
http://www.xat.org/xat/moneyhistory.html
http://www.petitiononline.com/fedres/petition.html
"When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes... Money has no motherland; financiers are without patriotism and without decency; their sole object is gain." Napoleon Bonaparte, 1815
Its the FEDERAL RESERVE!
The Private and Independent body of the Federal Reserve that goes in disguise of being Federal and has a grip on our Congress and the Treasury. It was created by Congress so Congress could spend WITHOUT the public knowing it is being taxed.
Exactly! I happen to work for an excellent corporation that really cares about its customers and employees.