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(1 of 2) Wall Street Executives Believe Employees Need To Engage In Illegal Behavior To Succeed

Via: Think Progress

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In a survey of 500 senior executives in the United States and the UK:

26 percent of respondents said they had observed or had firsthand knowledge of wrongdoing in the workplace

– 24 percent said they believed financial services professionals may need to engage in unethical or illegal conduct to be successful.

16 percent of respondents said they would commit insider trading if they could get away with it

30 percent said their compensation plans created pressure to compromise ethical standards or violate the law.

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Read more, HERE:

http://thinkprogress.org/economy/2012/07/10/513518/wall-street-illegal-survey/

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July 11, 2012 Posted by | Occupy Wall Street | , , , , , , | 2 Comments

“Quote of the Day”

Via: The Economic Times

Retirement ages will have to move to 70, 80 years old,” Benmosche, who turned 68 last week, said during a weekend interview at his seaside villa in Dubrovnik, Croatia. (see photo)

 “That would make pensions, medical services more affordable. They will keep people working longer and will take that burden off of the youth.”

“Of course the youth will never get an opportunity to work; but hey, tough shit.”, he didn’t add.

– Robert Benmosche, CEO, AIG

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Read more, HERE:

http://economictimes.indiatimes.com/news/international-business/aig-chief-robert-benmosche-sees-retirement-age-at-80-after-euro-crisis/articleshow/13828151.cms

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Yes, we know.

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June 5, 2012 Posted by | 2012, Occupy Wall Street, We Are the 99 Percent | , , , , , , , , , | Leave a comment

We Are the 99 Percent

We are the 99 Percent.

We are getting kicked out of our homes.

We are forced to choose between groceries and rent.

We are denied quality medical care. We are suffering from environmental pollution.

We are working long hours for little pay and no rights, if we’re working at all.

We are getting nothing while the other 1 percent is getting everything.

We are the 99 percent.

Brought to you by the people who occupy wall street.

Why will YOU occupy?

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Please visit their website, and tell YOUR story.

http://wearethe99percent.tumblr.com/

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May 26, 2012 Posted by | 2012, Occupy Wall Street, We Are the 99 Percent | , , , , , | Leave a comment

College Freshmen Are More Liberal on Gay Marriage, Abortion

Via: Bl0omberg

First-year college students are more socially liberal than their predecessors on issues such as same- sex marriage and public education for undocumented students, according to an annual survey released today.

More than 71 percent of respondents who were freshmen in 2011 indicated same-sex couples should be able to marry, up from 64.9 percent two years earlier, according to the survey by theHigher Education Research Institute at the University ofCalifornia, Los Angeles.

The survey, which began measuring student opinions and concerns in 1966, also found more students supporting abortion rights, with almost 61 percent saying abortion should be legal.

Forty-three percent opposed denying undocumented students access to public higher education, down from 47.2 percent two years earlier.

http://www.bloomberg.com/news/2012-01-26/college-freshmen-are-more-liberal-on-gay-marriage-abortion.html

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photo/personal thought: La Brea Tar Pits, Los Angeles

I don’t think the GOP/elephants have come to terms with the fact they are out of touch with many young people/voters on the subject of same-sex marriage, abortion, immigration; and I believe, income inequity.

I suggest they might want to put on their swim suits, and soon.

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January 28, 2012 Posted by | 2012, GOP morons | , , , , , , | Leave a comment

The Republican Candidates’ Economic Agenda For The 1 Percent

Via: Think Progress

https://seattle98.wordpress.com/wp-admin/post.php?post=9977&action=edit&message=10

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January 3, 2012 Posted by | 2012, Bachmann, Gingrich, GOP morons, Huntsman, Occupy Wall Street, Romney, Ron Paul, Santorum | , , , , , , , , , , , , , , , , | 1 Comment

We Are the 99 Percent

We are the 99 Percent.

We are getting kicked out of our homes.

We are forced to choose between groceries and rent.

We are denied quality medical care. We are suffering from environmental pollution.

We are working long hours for little pay and no rights, if we’re working at all.

We are getting nothing while the other 1 percent is getting everything.

We are the 99 percent.

Brought to you by the people who occupy wall street.

Why will YOU occupy?

~~~

Please visit their website, and tell YOUR story.

http://wearethe99percent.tumblr.com/

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December 19, 2011 Posted by | 2012, Occupy Wall Street, We Are the 99 Percent | , , , , | 1 Comment

Krugman – ‘Gingrich-Hemsley in 2012’

Via: New York Times

From the Tax Policy Center, the Gingrich tax plan:

Also, it would add $1.3 trillion to the annual deficit compared with current law.

For those too young to remember, Leona Helmsley famously declared that only the little people pay taxes.

http://krugman.blogs.nytimes.com/2011/12/13/gingrich-helmsley-2012/

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Leona Mindy Roberts Helmsley (July 4, 1920 – August 20, 2007) was an American businesswoman and real estate entrepreneur. She was a flamboyant personality and had a reputation for tyrannical behavior that earned her the nickname Queen of Mean. She was promoted by the Beber Silverstein Group and its co-founder Joyce Beber who persuaded her to call herself Queen of the Palace Hotel.

Following allegations by unpaid contractors that work done on her home had been charged to her company, she was investigated and convicted of federal income tax evasion and other crimes in 1989. Although having initially received a sentence of 16 years, Helmsley was required to serve only 19 months in prison and two months under house arrest.

Helmsley’s fate was sealed when a former housekeeper testified during the trial that she had heard Helmsley say: “We don’t pay taxes. Only the little people pay taxes…”, a saying that became notorious and was identified with her for the rest of her life.

http://en.wikipedia.org/wiki/Leona_Helmsley

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December 16, 2011 Posted by | 2012, Gingrich, GOP morons | , , , , , , , , , | Leave a comment

Take Back the Streets – OCCUPY!

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December 15, 2011 Posted by | Occupy Wall Street | , , , , , | Leave a comment

Soros: Global Financial System In ‘Self-Reinforcing Process Of DISINTEGRATION’

Via: Huffington Post

Billionaire investor George Soros says that the global financial system is on the brink of collapse.

Developed countries are falling into a “deflationary debt trap,” in which consumer spending falls, products become more expensive, tax revenues drop, and sovereign debt grows, Soros said last week, according to the Wall Street Journal. As a result, he said, the global financial system is in a “self-reinforcing process of disintegration.”

“The consequences could be quite disastrous,” Soros, who was born in Hungary, said at the tenth anniversary of the International Senior Lawyers Project.

http://www.huffingtonpost.com/2011/12/05/george-soros-global-financial-system_n_1129210.html?ref=business

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personal thought:

consumer spending falls

+

products become more expensive

+

tax revenues drop

+

sovereign debt grows

=

DIASTER

~~~

Soros was right about President Bush, and unfortunately, he’s right about this.

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December 7, 2011 Posted by | 2012, President Bush | , , , , , | Leave a comment

Former Countrywide Whistleblower: Mortgage Fraud ‘Systemic’

Via: Huffington Post

With mortgage lenders now facing allegations of misconduct on several fronts, a former top ranking employee at a major home lender has come forward saying fraud at her firm wasn’t the exception, but the norm.

Eileen Foster, a former executive vice president in charge of fraud investigations at mortgage lender Countrywide Financial, told CBS 60 Minutes reporter Steve Kroft that mortgage fraud was a common occurrence at the firm. Foster goes on to say that she faced illegal retaliation for filing reports investigating the fraud, alleging Countrywide fired her when she refused to lie to federal regulators on Countrywide’s behalf.

“From what I saw, the types of things I saw, it was, it appeared systemic,” Foster said on 60 Minutes Sunday. “It wasn’t just one individual or two or three individuals, it was branches of individuals, it was regions of individuals.”

Countrywide Financial, acquired by Bank of America in 2008, was a central figure in the housing collapse and subsequent foreclosure crisis. Once America’s largest mortgage lender, the company has agreed to a litany of settlements since 2008, including a $600 million class-action settlement, an $108 million settlement with the Federal Trade Commission and the ousting of former CEO Angelo Mozilo, who paid $67.5 million in penalties to the Securities and Exchange Commission, the Wall Street Journal reports.

Still, NO top level finance executives have faced federal prosecution for actions related to the financial crisis, despite several reports, like Foster’s, that allege fraud was a common practice.

At the same time, as Federal prosecution of financial fraud falls to a 20-YEAR low, OVER TWO THOUSAND PEOPLE have been arrested in connection with the Occupy Wall Street protests.

Some are taking a stand against alleged abuses, with Massachusetts AG Martha Coakley last week annoucing a lawsuit against five major mortgage lenders, including Bank of America, the parent company of Countrywide Financial. According to the lawsuit, banks exacerbated the forecloser crisis by taking illegal shortcuts, while doing little to help homeowners in the process.

http://www.huffingtonpost.com/2011/12/05/countrywide-whistleblower-mortgage-fraud-systemic_n_1129637.html?ref=business

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December 6, 2011 Posted by | 2012, GOP morons, Occupy Wall Street | , , , , , , , , , , , , , , | Leave a comment