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How the working person has been ripped off.

 
 
talk72000
 
  1  
Reply Mon 19 Jul, 2010 03:24 pm
@Advocate,
At the end of the year you get a bank statement to fill in your income tax for the interest you earned. That is included in your income. All the savings are from previous earnings which have already been taxed so taxing the interest from the savings seems to be unnecessarily taxed again.
0 Replies
 
parados
 
  1  
Reply Mon 19 Jul, 2010 03:32 pm
@talk72000,
Quote:
The early goldsmiths became rich and their descendants are probably in the banking business I would assume and would know all the tricks and ways to circumvent the regulations.

That's an underhanded way to blame the Jewish bankers.
Quote:
All those in Wall street though not strictly in the banking business know about leveraging and using it to the hilt.
If you want to talk about wall street then why do you keep confusing them with banks?

Quote:
All those in the financial industry take home $200,000 per annum or more. The leveraging allows that and to avoid he government share they give their empoyees handsome salaries and executives even higher bonuses.

Have you looked at the financials of Morgan Stanley? Do you understand how Morgan Stanley makes a profit?

Quote:
The CEO of Lehman Bros. took home $300 million the year before it filed for bankruptcy.
And what source can you provide to back up that claim? According to wiki

Quote:
In December 2008, Fuld was given the "Lex Overpaid CEO" and "thief" award of the Financial Times for having received $34m in 2007 and $40.5m in 2006, the last two years before his bank's failure

http://en.wikipedia.org/wiki/Richard_S._Fuld,_Jr.

When you can't even get simple facts right talk, I don't know why we should believe anything you say.
talk72000
 
  1  
Reply Mon 19 Jul, 2010 03:44 pm
@parados,
Have I mentioned Jewish? I don't know who they are but you do. Thanks for filling me in.

Quote:
Lehman Brothers Boss Defends $484 Million in Salary, Bonus


http://abcnews.go.com/Blotter/story?id=5965360&page=1

http://www.businessweek.com/bwdaily/dnflash/content/jan2007/db20070108_913716.htm

Quote:
The average payout at Goldman was about $622,000.
parados
 
  1  
Reply Mon 19 Jul, 2010 04:14 pm
@talk72000,
Quote:
Lehman Brothers Boss Defends $484 Million in Salary, Bonus

That was over an 8 year period. Rolling Eyes
You can't even include the entire quote?
Quote:
defended the $484 million he received in salary, bonuses and stock options since 2000.



Quote:
Have I mentioned Jewish? I don't know who they are but you do. Thanks for filling me in.

It is not uncommon for people that try to sell the tripe you are selling here to point out that its "Jewish" bankers. If that isn't you, then you should at least be aware of where you are getting the crap.
talk72000
 
  1  
Reply Mon 19 Jul, 2010 08:45 pm
@parados,
Even over a ten year period it is a lot. Are you trying to minimize $484 million? Where does the average Joe even get close to a million in his life time earnings? I did not bring the Jewish issue. Goldsmiths item was put in by Adanac and you interpreted as Jewish. Is it getting too close to home? Are you trying to deflect something which you feel need deflecting? By your answers I gather that you know that they were Jewish and made a lot of money and you don't like that scrutiny.

My efforts are that Wall Street regardless of ethnicity is taking an huge bite out of the economy and I would like the banks to be structured so the government can take a proper share by giving normal banks a 10:1 leverage ratio and taxing these banks which are denied the leverage system that Wall Street enjoys.

Past goldsmiths operated as banks and I showed how by leveraging made huge amounts of money. India is one of the biggest markets for gold and there is certain ethnic group the Mulwaris who are fabulously rich. They know the technique of leveraging as well. I am suggesting that the government can get a share of this leveraging and thus help the average joe.
talk72000
 
  1  
Reply Tue 20 Jul, 2010 03:02 pm
@parados,
Quote:
Notable Marwaris
According to Forbes List, 2% of all the billionaires are Marwaris, making them the richest and the most industrious community in the world. Nearly 40% of all Indian Billionaires are Marwaris with 1% of the total population representation.


http://en.wikipedia.org/wiki/Marwaris
talk72000
 
  1  
Reply Tue 20 Jul, 2010 04:17 pm
http://www.buildfreedom.com/tl/tl17a.shtml

Quote:
Many people (and almost all bankers) are under the misconception that Congress "created" the Federal Reserve Act of 1913. This is not true. Congress merely "passed" the legislation and President Woodrow Wilson signed the Act into law. In fact, the Federal Reserve Act was initially composed as a proposal for legislation by a group of private bankers who met in deep secrecy and not by any members of Congress. Present at those meetings were the following bankers: Frank Vanderlip, President of National City Bank of New York; Henry P. Davidson, senior partner of J. P. Morgan Company; and Charles D. Norton, President of Morgan's First National Bank of New York. These three powerful bankers invited Mr. Paul Moritz Warburg of M. M. Warburg Company of Hamburg, Germany, which was the chief German representative of the European banking family, the Rothschilds.

Mr. Paul Moritz Warburg would go on to mastermind the entire document that we recognize today as the Federal Reserve Act. As a partner of Kuhn, Loeb and Company Bank of New York, he was aware of the sentiments of the Congressmen who opposed the formation of a Central Banking System in the United States and knew they blamed the money panic of 1907 on the big New York bankers and the speculators of Wall Street. Thus, Mr. Warburg searched for a title that would not alert the Congressmen as to the true intent of the document he was preparing. He used the word "Federal" in the title which gave the false impression that this document involved the Federal Government. The Federal Reserve System had three very important elements:

1. The Federal Reserve System would be owned by private bankers; and thus would earn profit for the bankers.

2. In due time the bankers would gain control of the issuance of the nation's money.

3. The bankers would use the credit of the United States by involving the United States in foreign affairs.

Warburg established four branch reserve banks in four different sections of the country seemingly independent of each other. This furthered the deception by giving the impression that the New York banks and Wall Street were not in control of the Federal Reserve System. The hidden factor was that all four regional reserve banks were united with the Federal Reserve Bank of New York, which was to be the main bank of the Central Banking System in our country.

When the bankers and Warburg were satisfied that they had accomplished what they had set out to do on paper, they invited Senator Carter Glass to introduce the Federal Reserve document on the floor of Congress. And so with expressed views of the bankers and Warburg's "Federal Reserve Act," the Central Banking System in the United States was born. The events that followed as a result of that legislation being introduced to Congress can be described with the following excerpt from Gierut's book:

"Bank officials swarmed into Washington, D.C. to lobby for the passage of Warburg's document. This legislation was strongly opposed by Congressman Charles Lindbergh, Sr. of Minnesota. He warned that this document was, in fact, establishing a Central Banking System. His greater concern was the fact that this type of banking system would create recessions, depressions, inflation, boom and bust of the nation's economy.

0 Replies
 
parados
 
  1  
Reply Tue 20 Jul, 2010 06:11 pm
@talk72000,
Quote:
Even over a ten year period it is a lot. Are you trying to minimize $484 million?

That is true but it is a far cry from your claim he got $300 million in the year they went bankrupt.

This is about you shading facts and/or telling outright lies.
0 Replies
 
parados
 
  1  
Reply Tue 20 Jul, 2010 06:12 pm
@talk72000,
I don't know why you would use wiki when it has no cites for the article.

Wiki is a place to start but it should have citations to outside sources.
talk72000
 
  1  
Reply Tue 20 Jul, 2010 08:08 pm
@parados,
Fuld received nearly 1/2 billion dollars:

Quote:
He received nearly half a billion dollars in total compensation from 1993 to 2007.[7]


Wikipedia
http://en.wikipedia.org/wiki/Richard_S._Fuld,_Jr.
0 Replies
 
talk72000
 
  1  
Reply Wed 21 Jul, 2010 07:58 pm
For Obama to get the economy jumped he should consider what I have proposed i.e. rejig the banking system which has been jigged for the leveraged money and stock manipulators. Once the normal banks give their customers low interest loans much activity could be generated and maybe spell the gradual end of the financial dinosaurs which relied on their ally the Fed to keep themt in the public trough. They have been given a monoply on leveraged loans and competition would be good. Let free market prevail.
0 Replies
 
talk72000
 
  1  
Reply Sat 24 Jul, 2010 03:00 pm
Banks paid big bucks to execs.

http://money.cnn.com/2010/07/23/news/companies/compensation_report/index.htm
0 Replies
 
 

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