http://en.wikipedia.org/wiki/Tea_Party_protests
This was the Plan that Santelli railed against got the Tea Party's panties wet:
http://en.wikipedia.org/wiki/Homeowners_Affordability_and_Stability_Plan
The Tea Party is a fucking sham.
Oh.
I thought they were protesting against wallstreet bailouts and other government spending.
To find out now that they were protesting unemployed young people makes their cause seem even more stupid.
Birth of national Tea Party movement
On February 19, 2009,[53] in a broadcast from the floor of the Chicago Mercantile Exchange, CNBC Business News Network editor Rick Santelli loudly criticized the government plan to refinance mortgages, which had just been announced the day before, as "promoting bad behavior" by "subsidizing losers' mortgages" and raised the possibility of putting together a "Chicago Tea Party in July".[72][73] A number of the traders and brokers around him cheered on his proposal, to the apparent amusement of the hosts in the studio. It was called "the rant heard round the world".[74] According to The New Yorker writer Ben McGrath[75] and New York Times reporter Kate Zernike,[76] this is where the movement was first inspired to coalesce under the collective banner of "Tea Party". By the next day, guests on Fox News had already begun to mention this new "Tea Party".[77]
The day following Santelli's comments from the Chicago Mercantile Exchange, on February 20, 2009, roughly 50 national conservative leaders participated in a conference call that gave birth to the national Tea Party movement.[78]
In response to Santelli, websites such as ChicagoTeaParty.com, registered in August 2008 by Chicago radio producer Zack Christenson, were live within twelve hours.[79] About 10 hours after Santelli's remarks, reTeaParty.com was bought to coordinate Tea Parties scheduled for July 4, and as of March 4, was reported to be receiving 11,000 visitors a day.[79]
Also on February 19, Young Americans for Liberty NY State Chairman Trevor Leach created a Facebook page called "The Capitalist Chicago Tea PartyRick's Revolution," in response to Santelli's call for a national Tea Party.[80][81] According to The Huffington Post, a Facebook page was developed on February 20 calling for Tea Party protests across the country.[46] Eric Odom of the conservative activist group FreedomWorks was one of the group administrators, and the group was created by Phil Kerpen from the conservative advocacy organization Americans for Prosperitythe same group credited for the Denver "porkulus" protest as well as Mary Rakovich's early February 10 protest. Soon, the "Nationwide Chicago Tea Party" protest was coordinated across over 40 different cities for February 27, 2009, thus establishing the first national modern Tea Party protest.[82][83]
The Homeowners Affordability and Stability Plan is a U.S. program announced on February 18, 2009 by U.S. President Barack Obama. According to the US Treasury Department, it is a $75 billion program to help up to nine million homeowners avoid foreclosure, which was supplemented by $200 billion in additional funding for Fannie Mae and Freddie Mac to purchase and more easily refinance mortgages. The plan is funded mostly by the Housing and Economic Recovery Act. It uses cost sharing and incentives to encourage lenders to reduce homeowner's monthly payments to 31 percent of their gross monthly income. Under the program, a lender would be responsible for reducing total monthly mortgage payments (PITI) to no more than 38 percent of the borrowers income, with the government sharing the cost to further reduce the payment to 31 percent. The plan also involves potentially forgiving or deferring a portion of the borrowers mortgage balance. Mortgage servicers will receive incentives to modify loans and to help the homeowner stay current, though participation by lenders is voluntary.[1][2][3]
http://en.wikipedia.org/wiki/Tea_Party_protests
This was the Plan that Santelli railed against got the Tea Party's panties wet:
http://en.wikipedia.org/wiki/Homeowners_Affordability_and_Stability_Plan
The Tea Party is a fucking sham.
Yeah, because it's such a "fucking sham" to tax people who made responsible choices and actually paid their mortgages in order to give the money to those who did the opposite.
The government-blasting Tea Party doesn't want any changes to two of the government's biggest programs. The vast majority of Tea Party supporters - 70% - oppose cuts to Medicare and Medicaid, a new McClatchy-Marist poll found.
Here's a clue, where the fuck was the 'national' tea party movement when astronomically bigger bailouts were given to wall street? Oh that's right, they're the rich, we're supposed to worship them. If you're going to protest government handouts, having your movement explode over government helping the destitute with a program that was a drop in the bucket comparatively speaking while being relatively quiet over enormous handouts to the rich makes you guys look like absolute cunts.
Also, to further cement what a fucking sham the tea party movement is:
http://www.nydailynews.com/blogs/dailypolitics/2011/04/tea-partiers-dont-like-medicaid-medicare-cuts
Hypocritical pieces of dog shit.
wow over 75 billion in something that would help stabilize the entire home industry?
Horrible people are horrible
AFAIK, most Tea Partiers oppose the Wall Street bailouts as well; the group basically sprang from the Wall Street bailouts in Sept-Oct 2008, and acquired their name during Rick Santelli's rant of Feb 2009.
I do agree with you guys, it's kind of lols of the Tea Party to ignore these protests. They could at least back them in recognition seeing as they both seem to be saying the same thing in general concept.
So halik works in the industry these people are protesting. No wonder you have been so vocal.
Yes. You have had a tough life. Now u have made it and everyone who didn't must be pathetic and deserve nothing in life.
In addition, this is probably the best microcosm of the tea party:
http://www.youtube.com/watch?v=GvvnHK_wM8k&list=PL80CDA9D88FD55BA4&index=104
I'm a quantitative trader, don't work for a bank or wall street ... and I don't think those people themselves know what they're protesting. Blaming someone else for having 100K in debt and a history degree to show for it isn't helpling their case either.
I have been vocal about this only because vast majority of those kids are the stereotypical Che-t shirt entitled assholes. Having grown up behind the iron curtain I take a personal offense to 18-something year olds trying to promote some take on communism/capitalism being evil.
I think their main beef is with the Wall Street baron's obsessive greed and being able to get away with crashing the World's economy.
You are correct; and Halik is simply stereotyping those he wants to hate.
He's on my ignore list, but from seeing quotes, 'quantitative trader'. Ya, that's never a sleazy position working for sleazy interests in a sleazy industry extracting wealth.
He'll point fingers and attack people better than him for liberal arts, for not being the parasite of the industry of parasites, but has no idea about the right and wrong of it.
It's always so respectable, whether it's men in suits ordering chemicals to be dropped on Vietnamese farmers, or exploitave financial schemes to rip America apart.
Yes. You have had a tough life. Now u have made it and everyone who didn't must be pathetic and deserve nothing in life.
I hate to use a catch-phrase, but I think "don't hate the player, hate the game" really applies in this situation. You shouldn't hold a grudge against someone just because they work in the financials industry. Many people in that industry went out and got an education and learned how to do those jobs because they wanted to make money just like the rest of us. It's the rules of the game that Wall Street has to abide by (or not abide by, depending how you want to look at it) that are broken.
Two weeks ago, yet another case of rogue trading shocked the financial world when UBS trader Kweku Adoboli was arrested for allegedly squandering some $2.3 billion with a risky and unauthorized investment scheme. The 31-year-old, who had been based in London for the Swiss bank, remains in jail. The bank's chief executive Oswald Grübel, meanwhile, has resigned over the scandal -- the third major embarrassment to rattle the institution in just a few years.
The situation mirrors a similar scandal at French bank Société Générale, where another young "rogue trader," Jérôme Kerviel , gambled away billions in 2007 and 2008. But why do these situations keep arising in the financial world?
According to a new study at the University of St. Gallen seen by SPIEGEL, one contributing factor may be that stockbrokers' behavior is more reckless and manipulative than that of psychopaths. Researchers at the Swiss research university measured the readiness to cooperate and the egotism of 28 professional traders who took part in computer simulations and intelligence tests. The results, compared with the behavior of psychopaths, exceeded the expectations of the study's co-authors, forensic expert Pascal Scherrer, and Thomas Noll, a lead administrator at the Pöschwies prison north of Zürich.
Appetite for Destruction
"Naturally one can't characterize the traders as deranged," Noll told SPIEGEL. "But for example, they behaved more egotistically and were more willing to take risks than a group of psychopaths who took the same test."
Particularly shocking for Noll was the fact that the bankers weren't aiming for higher winnings than their comparison group. Instead they were more interested in achieving a competitive advantage. Instead of taking a sober and businesslike approach to reaching the highest profit, "it was most important to the traders to get more than their opponents," Noll explained. "And they spent a lot of energy trying to damage their opponents."
Using a metaphor to describe the behavior, Noll said the stockbrokers behaved as though their neighbor had the same car, "and they took after it with a baseball bat so they could look better themselves."
The researchers were unable to explain this penchant for destruction, they said.
After 40 rounds against a computer opponent, an average of 0.2 moves were non-cooperative among the control group, and 4.4 among the psychopaths. Traders? 12 non-cooperative moves on average.
Is this the same JSt0rm that get's angry when people claim that they should have the right to pirate movies/music?
No, actually, hating the player is very appropriate here. There was a study that came out that traders are more reckless and manipulative than psychopaths:
http://www.spiegel.de/international/zeitgeist/0,1518,788462,00.html
A google translated article with more detail:
http://translate.google.com/transla...ynamik_im_handelsraum_1.12641170.html&act=url
Doesn't surprise me, Halik sounds very much like a psychopath with his posting.
You are correct; and Halik is simply stereotyping those he wants to hate.