Captains of finance clueless about Occupy's anger
• msnbcDavid Mooney, chief executive officer of Alliant Credit Union in
Chicago, one of the nation's larger credit unions, used to work at a one
of Wall Street's top banks, JPMorgan Chase. There's a vast cultural gap
between Wall Street and his new world, he says. Old friends from the
Street, now jokingly refer to him as a "socialist."
A credit union
is supposed to be run in the interests of all members, he says, while
commercial bankers tend to see consumers as customers who can be
"exploited" by layering on more fees.
Says Mooney: "I don't say
this lightly, but the consumer is simply an income stream and exploiting
that is the purpose of the banking organization."
In
conversations with nearly two dozen current and former bankers, finance
professionals and money managers across the United States, the
prevailing sentiment is that the anger at Wall Street's elite is
misguided and misdirected. Blame the politicians and policymakers in
Washington, many of them say, for encouraging people to buy homes they
couldn't afford and doing nothing to stop or discourage U.S. consumers
from piling on more than $10 trillion in household debt.
"I think
everyone gets what the anger is about... But you just can't say, 'Well I
want all debts forgiven.' That is not happening," Watch Streaming Broadcast Live:
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1 Comments in Response to Captains of finance clueless about Occupy's anger
Who would seriously expect those cretins to give a damn. They know full-well what the "occupy" folks are on about, THEY JUST DON'T GIVE A DAMN!
None of the travails of of the "common man" are of any concern to those who are responsible for the problems in the first place. There is no possibility that such parasites would ever be concerned with the well-being or attitudes of their hosts.
The only thing that will ever get the financial predators to look up from their ledgers, will be the loss of control of the colluding politicos who have allowed the financial rape of the world. That isn't going to happen: We've all sold out or bought in. They are counting on it!