Welcome login | signup
Language en es fr
OccupyForum

Forum Post: WALL Street got everything since Citicorp Mergered with Travelers Insurance, Except GOP President

Posted 1 year ago on Nov. 15, 2012, 11:20 a.m. EST by Middleaged (5140)
This content is user submitted and not an official statement

Talk About Ungrateful.

Wall Street got everything it wanted since Citicorp Mergered with Travelers Insurance in 1998, Except GOP President ...for the most part anyway. The Gramm–Leach–Bliley Act (GLB), AKA the Financial Services Modernization Act passed in 1999. The Commodity Futures Modernization Act of 2000 was bi-partisan legislation that formally exempted derivatives from regulation, supervision, trading on established exchanges, and capital reserve requirements for major participants. A contributing factor to the rise in house prices was the Federal Reserve's lowering of interest rates early in the decade. From 2000 to 2003, the Federal Reserve lowered the federal funds rate target from 6.5% to 1.0%.[178] 5.Savings and Loans gained a wide range of new investment powers with the passage of the Depository Institutions Deregulation and Monetary Control Act and the Garn–St. Germain Depository Institutions Act.

1) Low Interest Rates for Banking & Corporations
2) Low Capital Gains & Carried Interest Tax rates
3) Unlimited Shell Companies and Ultra Flexible rules of Incorporation
4) Flexible Accounting Rules, no problem with Off Balance Sheet Transactions
5) No Penalty or Tarrif on Offshore Production or Corporate Headquarters
6) No Corporate Tax Increases for closing US Plants or Production
7) Executives get Income Taxes Deffered in Trust Funds and ...don't have to declare income in the year of earning, same with Bonus
8) Over 2000 separate federal subsidies are opportunities for corporate Welfare
9) Public Private partnerships have become not only commom, but are part of our US Business Culture for reducing Risk
10) Federal Low Interest Loans are available for industries with high capital investment like Petroleum Exploration or Transportation
11) A Suite of Tax Loopholes is Available to Wealthy people or Big Corporations
12) Bank Bailouts provide Direct Corporate Welfare to US Financial Organizations
13) Plenty of Lucritive Federal Government Contracts such as Defense (regardless of War or not)
14) Deregulated Banking and Shadow banking with No Transparency or Even National Data

SO IS There anything for Corporations to Complain About?

A) Sounds like democratic party presidents don't like to sit down and nod their heads to people that have disparaged them in the media or in priavate. Could be a negotiation tact to feign little time available for meetings with business or GOP members. Could be the more time you spend with Business people the more promises you end up making, so ...might be less meetings = less promises.

B) Could be that Business Lobbyist or Business reps never admit that Lobbies cost federal, tax-payer money when they are successful. Dealing with Lobbyist must be Very, Very Frustrating. So, yeah, Could be that Obama Avoids Lobbyist and GOP Reps plans to Cut Taxes in the Largest Soverign Debt in World History ($16 Trillion Dollars) ...All the While Planning more Defense Spending Increases since GOP members are so Frightened by Huns, Islamists, and anyone different from them.

Underneth, What Should Banks be Talking to Congress & Obama About??

A) Solutions to Depression in Greece, Spain, Portugal, Ireland, & Italy
B) Solutions to Recession in the Whole Euro-Zone & East European Countries
C) Slower Growth IN China, Brazil, Russia, Japan, India
D) Causes of Global Slow Down, Causes of Lower US Investment, Lower Global Trade
E) Solutions for Increased Investment in US Small Businesses, or how to Create an Enviroment for Small Businesses to Thrive
F) Possible Presidential Leadership nationwide asking for Americans to Study the problems that have lead to our Retirement Crisis ... and Economic Crisis (What you didn't know there was a Financial Crisis?)

Main Street Probably Wants to ask President Obama, Why doesn't he look at, debate, start national discussion,... about the Most Expensive things in the US, and how Financial Schemes are behind them making Outsized Profits for Executives and Bankers

And isn't it possible, Very Possible that Business Leaders do not want common solutions for everyone, because they don't win. The only way Businesses Win, is if they get an Unfair Advantage Over Everyone Else including the Consumer. Remember the Company Store? You work for us, you live here, and you buy from the company store. What a great Business Model. And if they can't get an unfair advantage, then they'll take a Risk Free Investment ...like a public private partnership... or low Interest Federal Loan they can invest in Financial Instruments without any Regulations at all.

https://en.wikipedia.org/wiki/2007_subprime_mortgage_financial_crisis#Governmental_policies

https://en.wikipedia.org/wiki/2007_subprime_mortgage_financial_crisis#Policies_of_central_banks

https://en.wikipedia.org/wiki/Savings_and_loan_crisis#Tax_Reform_Act_of_1986

https://en.wikipedia.org/wiki/Savings_and_loan_crisis#Major_causes_according_to_United_States_League_of_Savings_Institutions

https://en.wikipedia.org/wiki/Garn%E2%80%93St._Germain_Depository_Institutions_Act

https://en.wikipedia.org/wiki/Depository_Institutions_Deregulation_and_Monetary_Control_Act

https://en.wikipedia.org/wiki/Regulation_Q

http://www.cfda.gov/ (List of Federal Subsidies)

http://www.walmartsubsidywatch.org/

http://money.cnn.com/2004/05/24/news/fortune500/walmart_subsidies/ ($1 Billion Dollars)

http://www.fms.treas.gov/mts/mts1012.pdf ($3.75 Trillion Estimated 2013 Federal budget Outlays) ($445 Billion Dollars Estimated 2013 Total Interest Payment on Debt)

6 Comments

6 Comments


Read the Rules
[-] 2 points by WiccanRevolutionary (63) from South Charleston, OH 1 year ago

They won when Obama won reelection. The Democrats serve the 1% just like the Republicans.

[-] 2 points by Middleaged (5140) 1 year ago

Namaste' Yes. Agree it should be obvious to everyone. No Reparations for Pension Funds or Retirement Fund or Houses that were trashed just for a Ménage à trois between bankers, mortgage lenders and big government.

It is the Wild Wild West on Wall Street. Oh look the Emperor has No Clothes! Oh no... That is just Shadow banking, we don't regulate that even though there is $700 Trillion to $1 Quadrillion in Global Derivatives.

[-] 1 points by WiccanRevolutionary (63) from South Charleston, OH 1 year ago

Wall street is smart enough to put in two puppet parties to keep the people's hands off of it, that's for sure.

[-] 1 points by Middleaged (5140) 1 year ago

What hurts Corporations is Price Caps/Price contorls on:

1) Tuition
2) Education Loan Interest Rates
3) Medical Costs
4) Pharmacy Drugs
5) Mid Teir Low Cost Hospital Equipment and Building Expansion controls to keep total expenses tightly managed.

Oh and ....
A) Standardized Medical and Insurance Forms for Health Care
B) Ending Conflict of Interest between Industry & Research, Regulators, and US Congress (Regulation Capture, Revolving Door)
C) Getting Money Out of Government, No Gifts, No Lobby, No Campaign contributions, National Radio & TV & Cable Time for Political campaign messages (Public Commons airwaves)

[-] 0 points by hchc (3297) from Tampa, FL 1 year ago

Mixing in teh average business owner with the banking cartel is a bad idea.

For example: the person who owns, say, Wegmans, wants to see a good economy, because with a strong economy comes higher profits.

The banking cartel wants chaos. Through chaos they can eliminate shit they dont like, and consolidate more power. the chaos leads to war, and funding country's governments during war is their bread and butter. They get to fund both sides usually too....neat eh?

Obama doesnt address this stuff because HE DOESNT WORK FOR THE PEOPLE. People need to get this through their fuckin heads.

The Fed has given over 3 Trillion straight to the banks since 08. The Fed wins regardless of what bought out party is in control. just have to do things a bit differently to keep the people believing its all good.

[-] 1 points by Middleaged (5140) 1 year ago

Good Post. I was trying to keep it to the big picture and big corps, but small companies do pick up federal contracts (and there is a program to get contracts to small businesses). But solutions to recession and unemployment (to me) is about start more small, small businesses (low Capitalization of like $40 Million dollars or less, more than 12 employees). Further, Leveraged Buy Outs seem bad. The mergers of the 80s got out of hand in the 90s. Maybe you were kind of saying that.

Used to be I would hear maybe around 2000 that you wanted to know your money guys/finace guys. Everyone loves those guys. And the government is no different from Private industry. You got it right. It is not just congress Kowtowing to Banks and big contributers. Government managers got the message that money guys were smart and we need as many smart money guys around as we can ...esp. as friends.

This is Corruption & Conflict of Interest. So is listening to defense contractors who want to talk congress into buying more stuff.