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It’s taken me awhile to wrap my head around the objective of the Wall Street Protests. And I’m not the only financial blogger questioning the protests. Lazy Man and Money wanted someone to explain the protests to him. I get that there is high unemployment and even though we bailed out the banks, there are still a lot of folks who can’t pay their mortgages or refinance at a lower rate. But what exactly and specifically do the protesters want Wall Street to Do? Wall Street is not a corporation making
policies like a lone corporation. The financiers on Wall Street are business people looking to capitalize on the financial system. Obviously, they were at the heart of the mortgage meltdown with the incomprehensible securities they devised. And I tend to agree that there wasn’t enough regulation or oversight to prohibit that mess. That’s why the Dodd Frank bill was passed, in an effort to prevent this type of crisis from reoccurring and to provide more consumer protection and transparency.
Is George Soros Financing the Protests?
“The protesters say the Wall Street bank bailouts in 2008 left banks enjoying huge profits while average Americans suffered under high unemployment and job insecurity with little help from Washington. They contend that the richest 1 percent of Americans have amassed vast fortunes while being taxed at a lower rate than most people.” Who’s Behind the Wall Street Protests?, Reuters.
Apparently, George Soros, one of the 10 richest Americans, was quite critical of the bank bailout and the subsequent government strategies to right the economy. I heard his name on the news this morning and again on Yahoo finance this afternoon. Is he really giving cash to the instigators to rile the higher ups? I love that we live in a country where protests are freely allowed and there is freedom of speech and assembly. That said, I don’t know if Soros is behind the protests or exactly what they hope to accomplish.
If I were in charge of the protests, I would move them to Washington, focus on our government and demand they work together to lower the deficit, cut spending, raise taxes, cut the waste, and work together for the good of all.
Please enjoy these superior article from the archives of top personal finance bloggers.
Monevator tells How to Rebalance Your Portfolio. This approach is simple and takes the mystery out of this crucial investment activity.
Len Penzo writes that If You Can’t Live on $40K, it’s Your Own Fault. I’m not quite there, but I think he makes a good point. Although I’m still a bit embarrassed that I don’t plan out my weekly menu like Len advised me to.
PTMONEY writes 52 Ways to Make Extra Money. I know you’re interested in this topic!
The Simple Dollar presents A Dose of Financial Reality. The part that really got me thinking was how much housing has increased, even when you factor in inflation.
Praire Eco Thrifter wrote, Live the Dream Life; Debt Free. Are you seeing a theme here? More money doesn’t make your life superior!
The Debt Myth went from 14K in Debt to Zero in One Year. See, it is possible to slam that debt!
For all you bloggers out there, My Multiple Income Streams wrote the Ultimate Guide to Social Media Backlinks. I happen to like social media promotion as much as the next guy or gal, but who has the time to hang out on Facebook and Twitter all day?
Everything Finance really perplexed me with Interest Rates Fall While APR’s Rise. The takeaway, pay off your credit cards asap.
First Generation White Collar wrote How to Create Your Own Job Security. Follow that advice and recession-proof your future.
Young Adult Finances asks, Procrastinators, What are You Waiting For? She gives the quick and dirty info on signing up for Mint.com to manage your finances. Don’t let fear stop you from tracking your hard earned dough.
My Journey to Millions wants to know, Is it Possible People are this Clueless About Their Cash Flow? Evan echoes my curiosity about how some folks are totally unaware of where their money comes from and where it goes.
Barbara Friedberg Personal Finance Across the Blogosphere
Benzinga Brain Trust, Advice for Investors, Informed by Ben Bernanke
Dividend Ninja, How a Vacation Can Teach You About Financial Markets
Sustainable Life Blog, Go Green, Save Money, and Look Awesome
Len Penzo’s Black Coffee posted both my guest post at Balance Junkie and hers at my site. If you’re not too sick of moving stories, they both have some good tips.
MoneyGreenLife included Balance Junkie’s guest post, 5 Lessons Learned from Moving on my site.
Free Money Finance posted Community versus Country Club
Beating the Index writes about a holding you might consider, Aroway Energy. Great for you Canadians.
What do you think of the Occupy Wall Street movement? What would motivate you to protest?
image credit; the Whistling Monkey