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Protestors Storm JPMorgan Office

A reader just sent us this photo, purported to be from 270 Park Ave. where angry protestors have pushed their way into JPMorgan’s headquarters. We’ll update as more info comes in. Not sure if they’re from Syracuse or not.

Update: Apparently the protestors are from this group, which plans to stage some sort of big Wall Street protest this afternoon at 4pm. They’ve already dispersed from JPM. A spokesman for the company declined to comment.

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191 Responses to “Protestors Storm JPMorgan Office”

  1. Anonymous says:

    We have just been informed that there are protestors outside (National People Action) and trying to get onto our floors. If you see any protestors on your floors please call security (214-1000) immediately to have them removed. Please remember if and when you leave the building to always remain professional and do not comment on behalf of the company.

  2. Big Bank says:

    They’re now in front of the Wells Fargo offices at 375 Park

  3. Anonymous says:

    It’s 2:30 on a thursday. Get a fucking job you hippies.

  4. Lemming says:

    Are we protesting anything in particular today?

  5. I think the guy in the front with the raised arm and clenched fist is Obama.

  6. Anonymous T. Bosch says:

    I like the effectiveness of the protest: WE DON’T LIKE YOU! Ok, we are going to go away now.

    Seriously, the banks may have screwed people over, but at least they did it with conviction. The damn hippies don’t even have that.

  7. Anonymous says:

    Anyone have the numbers for first-year Marching & Agitation associates at Showdown in America?

  8. guest says:

    t bosch et al…why don’t you guys get down there and tell them how you feel

  9. big_Bear says:

    Free Fab!

  10. Anonymous says:

    “We’re not gonna protest, we’re not gonna protest”

  11. big_Bear says:

    break the two smallest toes on everyone’s left foot

  12. J.C. says:

    I’m not here to make friends, I’m here to make Money! Today’s super-dee-duper, can’t miss, lock of the week, Iron Pipe dead-ringer winners are Fast-Lite Torches (FIRE) and Tru-Pointe Pitchforks!! (POKE) BUY, BUY, BUY!!!

  13. Anonymous says:

    JPMorgan weathered the crisis was a bunch of idiots

  14. Mr. Awesome says:

    I wonder how many of these Obama drones protestors are SEIU workers on a “sick day”.

    Where were they when the medical bill past?

    Or are they only upset when WS fucks them?

    Maybe Obama uses better lube.

  15. father says:

    Get a job sparkling wiggles!

  16. I would give the administration a solid B+ for their strategy of vilifying the greedy bankers. But if you substituted Jews for bankers you’d have an A+ strategy.

    – The political consultant from Lower Bavaria

  17. Anonymous says:

    They look like Goldman employees there…

  18. Anonymous says:

    get whitey!

  19. Anonymous says:

    Are they aware Jamie D works there? That’s like walking into Chuck Norris living room and pissing on his floor

    fucking hippies, getting lunch today was such a pain in the ass. I hate walking through hippies

  20. Anonymous says:

    The bums will always lose!

  21. guest says:

    15 = cryptoracist. examine your motives.

  22. Anonymous says:

    @4 Did Obama have his Michael Jackson procedure done today? Looks like a chubby white boy to me.

  23. community organizer says:

    ‘wait, this isn’t where we get the free healthcare? what’s that you say? it’s being given out over @ wells fargo? Let’s go, guys. Off to 375 Park!!!!’.

  24. are they giving out free toasters today at jpm? would one of you guys pick up one for me – I’ll pick it up at minetta tavern tonight at 8. kthxbye!

  25. @22: Front row, not front of the photo. “Fail”, as the saying goes…

  26. Anonymous says:

    bottom pic bottom left

    the cobra commander has arrived

  27. Anonymous says:

    Hai guys, I’m just confirming whether Starbucks at 9 was good for our next tea bagging meeting.

  28. 4.6% Front end load says:

    @19 I agree, these hiipie fucks cant even imagine the wrath Dimon can inflict on their smelly ass.

  29. Anonymous says:

    These lazy pieces of shit! Why aren’t they at work? I hope the banks hire private armies to deal with this shit. Next time these fucking dickheads show up and force their way into private property I hope they are met with pepper spray in the face. This shit has to stop.

  30. Anonymous says:

    Hi guys, fabulous day to all! I’m just here confirm whether Starbucks at 9 was good for our next tea bagging meeting.

  31. creditquant says:

    I wish I can just take off from work for the afternoon to relive the heydays of attending some noname liberal arts college, sandals with socks and all. What the hell do these people do for living?

  32. Anonymous says:

    These are Jimmy Cayne fans, prematurely feting this event next week. See the roach clips there on some of them? That’s proof.

    http://www.bloomberg.com/apps/news?pid=20601087&sid=a7nDiFGukTP4&pos=3

    Geithner, Bear Stearns Executives to Testify for Crisis Panel

  33. Anonymous says:

    @2, yeah, those hippies should get a job like you so that you can read DB and post comments.

  34. Anonymous says:

    they are all black that’s why they aren’t at work!

  35. Mr. Awesome says:

    @30 what the fuck are you talking about?

    Actually, just shut the fuck up

  36. Anonymous says:

    Maybe they got lost looking for the welfare office. Congratulations to the Obama administration for inciting criminal trespassing. Meanwhile these shitheads don’t realize that NY won’t be able to survive if the banks dont. 40% of the tax revenue for the state is generated by Wall Street.

  37. Anonymous says:

    Why aren’t these guys at jobs designing investment products that they really don’t even understand and selling them to allegedly “sophisticated investors” in the trillions so that when their flawed markets fail they can get bailed out by the taxpayers. I mean come on, what crawled up their asses?

  38. Anonymous says:

    @ 37

    Quit be a pussy!

  39. PermaGuest says:

    I wonder how many are unemployed guys that got paid $60 to show up, like the guys that stormed 383 Madison in May ’08?

    -former Bear guy

  40. Anonymous says:

    @36, calm down Mr. Twinings – your rant is wasted here. Now head down to 270 Park and engage the mob in reasoned debate. I’m sure your attitude will win them over.

  41. Anonymous says:

    @38, I’m not the one whining. You’re confusing me with all the other pusses posting here. None of these protesters are in my lobby because they know I’d drop their asses if they showed up. Oh yeah, and I didn’t need to get bailed out because I actually don’t traffic in flawed markets…..

  42. Anonymous says:

    @33 I know, That’s what I’m saying!

    -2

  43. Anonymous says:

    hey hey ho ho this penis party has got to go!

    -Moonbeam

  44. Anonymous says:

    I think they are trying to withdraw their bank accounts ahead of Sen Levin’s new prop trading ban at banks proposal.

    BOOM: Carl Levin Set To Introduce Amendment Banning Bank Prop Trading

    Read more: http://www.businessinsider.com/carl-levin-prop-trading-ban-amendment-2010-4#ixzz0mWEo7lWi

  45. Anyone remember when this happened in “The City” in London a few months back? Some of the evil finance folks opened their office windows and showered the clueless hippy protestors with money. I thought that was absolutely fantastic.

  46. Anonymous says:

    9: Excellent PCU quote.

  47. PermaGuest says:

    @45 Actually my favorite City of London protest was the invasion of the floor of the International Petroleum Exchange by Greenpeace; the floor brokers kicked the s*** out of the protesters to the point that the Greenpeace hippies had to be rescued by the police.

  48. Anonymous says:

    @37. Investment banks employ thousands of people, who work with a variety of products and services taht are vital to corporations to fund and growth their businesses. Within these banks less than 1% of the employees created mortgage related products. The rest of the employees have nothing to do with the mortgage business. Therefore it is inaccurate and unfair to imply that everyone working at investment bank created this mess.

    Furthermore, the failed products failed for one fundamental reason. The mortgages underlying the product were not paid down by those who borrowed the money. Those mortgages get originated at small banks across the country, not at investment banks. Wall Street banks were caught holding the bag, but if the community bankers weren’t able to ship them up the chain to make a quick buck then they would have been bailed out. Either way, the crisis was caused by one simple fact. Main Street bankers made bad loans to people with bad or no credit, and surprise! these people didn’t pay it back.

    Wall Street may be a conveinient and centralized target, but it is definitely not the root cause. If you know a Main Street banker or someone who can’t make good on their mortgage payments then you should probably direct your anger at them as well.

  49. @47: Fantastic! These kinds of stories absolutely warm my heart.

    Makes me wish I still worked down there. It would be an absolute blast to walk out of the building into the crowd of hippies, pull out a big-assed cigar, and light it with a $20.

  50. Anonymous says:

    this picture is Obama supporters who are on unemployment and receiving a principal reduction on their mortgages, no need for work here

  51. creditquant says:

    Organized by AFL-CIO… figures. I need a job bank for myself.

  52. Anon. says:

    @41,

    No, you traffic in trite, simplistic hyperbole. “We don’t need banks, bankers, banking or…banks.”

    The testicals covering your eyes are obscuring your vision of reality you tea-bagging nitwit.

  53. That’s what happens when Dick Fuld is in the area…

  54. Richard Fuld says:

    DONKEY KONG, MOTHERFUCKERS!!

  55. @53: Beautiful. I’m getting cramps from laughing. I might have to go home early. I loved this quote from one of the protestors who took a beat down from the traders:

    “Total thugs,” one protester said, rubbing his bruised skull. “I’ve never seen anyone less amenable to listening to our point of view.”

  56. Mr. Awesome says:

    @52 Andy Stern called and said its time to go to GS to finish the day of whining. He will deliver a speech on healthcare reform. Hurry so you can get a front row seat.

    YES WE CAN YOU FUCKING JERK OFF…

  57. Not an angry guy, but hate hippies says:

    @47, 49

    I would PAY MONEY to beat up hippies if they invaded my office. Now you have me in a rage and I need to find one. Die hippie die!!!!

  58. Anonymous says:

    I could be mistaken, but I’m pretty sure that the homie’s t-shirt on far right 2nd pic says: ‘NAILING GREG’s MOM’

    Must be one of Blanus’ Mom’s crew on the prowl

  59. Anonymous says:

    @40, my simple point is all these angry so-called taxpayers probably don’t even pay taxes, and therefore really don’t deserve any say in where tax dollars go. Financial services on the other hand provide 40% of the taxes to fund social programs that these people depend on. You may not like it, but its a fact.

    By the way, JPM paid back the TARP (that they didn’t need) with interest. The US gov. made a higher return on forcing TARP down JPM’s throat than any US social program ever produced. So I don’t understand what these so-called taxpayers are doing at JPM’s door. JPM doesn’t owe them a damn dime.

    I guarantee that if the US government handed 25B to groups like this and told them to invest it and return it they wouldn’t ever see a return of principal, let alone interest.

  60. Peace mongrol says:

    That makes me mad. I think I’ll jack up the rate on their payday loans to get even.

  61. guest says:

    When cheaters prosper, we end up with the worst possible system and to call it a free market system is an obscenity. -William Black

  62. Anonymous says:

    @52 Must have hit a little close to home. You seem to have a problem justifying your existence. Bankers are great and shouldn’t be confused with derivative quants who think the world can be described by financial models and create products and markets incapable of functioning in reality. I love bankers – but only good ethical ones who actually know how to underwrite risk. The rest are clowns just like the tea baggers. If these protesters bother you so much go defend yourself to them in person unless you’re afraid some hippie tea bagger is going to slap you silly. My God, are you guys that soft?

  63. Jerry Cruncher says:

    Protest? Looks like a tourist group using a bank of ATMs.

  64. guest says:

    @61 William Black=dirty hippie. Just sayin’.

  65. guest says:

    These men are nihilists. There’s nothing to be afraid of.

  66. Anonymous says:

    WHO IS OUTRAGE?

  67. Anonymous says:

    people like jaime dimon is what the subprime is in trouble

  68. Anonymous says:

    @60 Your argument equating tax payments with political say is absurd. Otherwise Larry Elisson would have like 15,000 more votes than the average U.S. citizen which would not be the basis for a very stable political system.

  69. Anonymous says:

    Love it that so many of you are excercised about this protest. You finance frat boys are the ones who need to get a job, a real job, not one fucking over people and their finances. I’d trust a user car salesman in the South Bronx before I’d let someone in the finance industry masturbate with my $$.

  70. Kung fu grip says:

    @53 – oh the memories – thank you very much

  71. Anonymous says:

    Good thing they haven’t tried that at DB headquarters down on 60 Wall. Last I checked, they have dudes with MP-5s guarding the entrance.

  72. PermaGuest says:

    @63 Yeah, right? They don’t exactly look like they’re about to start shouting “aux barricades!” when the cops arrive, do they? Looks like most of them are more interested in taking pictures of each other in the lobby of 270.

  73. guest says:

    Very productive activities you sloths engage in…

    US Justice Department Names JP Morgan and UBS as Conspirators in US Muni Bond Fraud and Bid Rigging

    http://jessescrossroadscafe.blogspot.com/2010/03/jp-morgan-bank-of-america-ubs-and.html

  74. Kung fu grip says:

    @68 please repeat 3rd grade and then come back to us—-

  75. Anon. says:

    @70,

    “You finance frat boys are the ones who need to get a job, a real job,…” says the pseudo-intellectual, financial Paul Revere wanna-be who puts down the bong just long enough to type a barely intellible missive.

  76. guest says:

    Who else wants to hatefuck a dirty hippie tourist protester in the balloon knot right about now?

  77. Jerry Cruncher says:

    @68, thank you. You’ve just created a new DB thing. Ever since Greg left, we’ve been needing something:

    “people like jaime dimon is what the subprime is in trouble”

  78. DB guy says:

    @72 Those are just for the juden…

    The brothers are safe… unless they try to steal any of nutella the from the cafeteria.

    @59 You can be my wing man anytime

  79. PermaGuest says:

    Youse sayin we isn’t honest?

    -Salesman of the Month, Al’s Quality Used Cars, End-of-the-Subway, New York

  80. Mr. Awesome says:

    Actually the protesters ARE IN FACT AFLCIO UNION FUCKERS.

    @70- so are you saying the unions haven’t fucked over anyone? Lets assume that even you can admit they have.

    Just one question- how do they create any wealth? Or do they suck the profit out of everything they touch? Suck dues from their workers and bully corporations using their political buddies and push for an increase in taxes to fund their never ending appetite for power.

    At least with WS we DONT have to buy the products they sell.

    The unions use the govt to put you in jail if you dont pay the tax increases to fund their bullshit.

    If they succeed in fucking WS they will have a hard time finding the TAX MONEY to fund their pensions, healthcare and 10% raises they get each year regardless of the economy.

  81. 2nd pic, bottom left. Is that Dimon’s son?

  82. aNONemOUSE says:

    American Idol auditions – NEXT building!

  83. Anonymous says:

    Where are the investors’ protestors?

  84. Anonymous says:

    Feedbag @75 – that was a sarcastic comment that was slightly altered from a comment made during the jeffery chiang flogging.

  85. Anonymous says:

    @68 – Yeah!!! I mean, wait – what?

  86. @70: You don’t know the half of it, man. Do you know what kind of vig the people in those offices take? Do you?? Dude, if you knew, you’d be pissed.

  87. Anonymous says:

    NakedShort – @68 should be one of HBCP’s lines in its Mission Statement.

  88. Anonymous says:

    @68
    I have nothing to say….

  89. @15/18/34 – examine your motives and get your damn eyes checked…there are a bunch of white people in that crowd (where do you think the camcorder came from?)

  90. Mr. Awesome says:

    we really need to secure the borders.

    You know- The LI City, Staten Island, Crooklyn boarders.

  91. Mr. Awesome says:

    We really need to secure the borders.

    The LI City, Staten Island, Crooklyn borders.

  92. Edward Driffield says:

    @75,78 That “DB thing” is an ongoing meme on this board that @68 was referencing to. You’re quite welcome.

  93. Anonymous T. Bosch says:

    Am I the only one who is amused by how many anti-finance people read Dealbreaker and comment routinely? Jesus, if I didn’t know better, I’d say they were jealous they will never be more than blue-collared barely middle-class Americans with no hope of a finer life or ever being out of the debt they accumulated.

    I’d rather be hated than poor and uneducated.

  94. Anonymous says:

    Going by the response to @68’s comment, there seems to be a lot of newbies on here. Please read up on the running jokes before commenting.

  95. Anonymous says:

    @94 Most of these anti-finance people you refer to are actually in finance – they just dont work for the sorry ass firms that needed to get bailed out and are pissed that their responsible and ethical behavior wasnt rewarded by the elimination of these dopes.

  96. can we get a few more comments on here so zachumms can pop his 100 comment cherry? well played kouwe.

    kthxbye!

  97. Mr. Awesome says:

    You assholes wouldn’t need a union if you were at WORK today instead of protesting. You fucking losers. Why should we GIVE you what we have earned.

    boo hooo
    GO FUCK YOURSELVES….

  98. Anonymous says:

    First 100.

  99. TW says:

    @94, tell me about it.

  100. Anonymous says:

    @96 your right…its really anti scumbags…not anti-finance

  101. Anonymous says:

    @95 – shit. I completely forgot about that one.

  102. Wutang Financial says:

    No AS references yet?

  103. Anonymous says:

    @94…don’t worry..you are….

  104. Anonymous T. Bosch says:

    @96/101, what about 68, 70, etc suggest they are in finance? And if you are anti-scumbag, why aren’t you mad at every investor who failed to do their own due diligence? It’s like buying a used car without taking it for a test drive. I’m against manipulation, deception, etc, but why should bankers be punished for having naive clients? No one forced them to buy.

  105. Anonymous says:

    That does look like Dimon in the second pic, bottom left with the camera phone.

  106. Anonymous says:

    That’s the mob from “Atlanta Citizens Fighting Illegal Tire Dumpers”!!!

  107. Anonymous says:

    let me be the first to say shut up kouwe

  108. Anonymous says:

    WAAAAAAAAAAAAAA!!!!!! We’re poor and wall st. isn’t!!!!!!! Mod my loan and forgive my $30k credit card debt!! I’m a victim!!!!

  109. guest says:

    @84 nice.

  110. Anonymous says:

    @68 That was well played.

  111. Anonymous says:

    @77 = fag back office

  112. Anonymous says:

    Well, I have to get back to work so I can subsidize these people . . . .

  113. Buster says:

    @68
    God bless you for reviving ‘is what the subrpime is in trouble’

  114. Anonymous says:

    For all of you dumb shits telling others to get a job. Go fuck your self. I would be able to get a job if you had not destroyed my occupation by allowing all of the illegal immigrant to flood the market and hold my would be employers hostage. You se these bastards get in until there are so many of them that employers must hire only them or they all walk out. You Wall Street types gave loans to them and want your money back one way or another and you want slave labor. If you can’t get it you send the job overseas. So I say just go fuck yourself. Yes I would go down there and protest for $60 bucks hell if you want it on the cheep and I have to beet some down trodden illegal I’ll do it for $40 or even $20 if necessary. But I would much rather be gainfully employed in my 30 year profession doing what I love and know.

  115. guest says:

    @117 Dad?

  116. engwar says:

    You know what I hate? It’s protesting.

    Now if I could only find some way to tell people about it.

  117. Anonymous says:

    haha my friend at a WS firm has an outstanding bid for servicing the SEIU Pension’s Assets.

  118. Manuel Labor says:

    @117 – Esperas, Que?

  119. Mr. Awesome says:

    @117 Clearly you are with teacher’s union. Let me guess, you teach Social Studies or is it Creative Writing?

  120. Anonymous says:

    @117,

    And what would that 30 year profession be pray tell? Dancing in the East Village at Lucky Cheng’s?

    http://www.planetluckychengs.com/PRESS1.html

    Fine work. Don’t let your mascara run.

  121. Anonymous says:

    You’d think that with all the dildos in those pics that you’d see Gundlach in there somewhere.

  122. Anonymous says:

    I’d like to revise my comment. People like @117 are what the subprime is in trouble.

    -@68

  123. Thank you sweet Texas for not tolerating lazy ass, overpaid, under-skilled, fail abortions known as unions.

    And thank you Mexico/porous border for providing more highly skilled, lower paid, grateful, tan labor.

  124. @117 – yahoo! finance is calling…they want their valued member back. tell greggums hi for us!

    kthxbye!

  125. Anonymous says:

    @ 117 – don’t you have a clan meeting to get to?

  126. Mr. Awesome says:

    You do have to blame WS for voting for the DEMS. Without that liberal agenda we would not be looking at unions marching in the streets demanding more money in an economy where most are trying to keep from drowning.

    Obama is using WS as a way to garner support for the unions.

    Outrage = WS.

    The masses are upset, they dont have jobs WS is making money, thus they are evil.

    How do you fix that?

    UNIONS! They will give you a job. Get you paid, protect you from the evil WS empire. Join us and you will be protected…

    WS fucked up! BIG TIME.

    If we dont vote in a new POTUS in 2 years WS/NYC/Free Markets are so very fucked!

    I hope you assholes finally learned your lesson.

  127. Anonymous says:

    Get a job sparkling wiggles!

  128. I’m not anti-finance. I am however anti- the 95% of you who are fucking idiots.

  129. Anonymous says:

    @131. That is a bold claim. How did you arrive at the conclusion that 95% of people working in finance (or any industry for that matter) are idiots? May I ask what non-idiot profession you work in?

  130. RockNRollMaven says:

    You bozo the clowns that complain about the hippies are such blog tough guys! I have been in the business for 10 years, and have heard all you big talkers the entire time. Go down there and protest them or better yet go home to own miserable, heavily in debt superstar lifestyle. Most of you can’t even manage your own checkbook! Quit popping so many pills during work.

    RnRMaven

  131. dimon is a ccrook says:

    All you people who were asking why aren’t the protesters at work: Are you posting comments on the clock? Oh you can really look down on the hippies! You are shills!

  132. Tim says:

    Perhaps these people aren’t at work because they got fired…most likely due to complete and utter mismanagement of money by financial institutions?

    Just a thought banker crowd.

  133. Tim says:

    @49

    That is the dumbest reading of the crisis I’ve ever read. Why do you think “main street” bankers were making bad mortgages? Because Wall Street bankers paid the big bucks. Doesn’t mean “main street” bankers are innocent…but your thesis is so completely wrong.

    Though you are correct, few people in the banks themsevles actually dealth with these products…so consider outrage and protests such as these directed at those people and their bosses – where else are protesters to find them besides work?

  134. Anonymous says:

    JPM employees claiming that they earn their money is like a tapeworm saying that it earned its lunch.

  135. Anonymous says:

    Great execution on protesting at 270. 99% of JPM is at 383 now.

  136. Anonymous says:

    I bet that lobby never smelled so bad

  137. Mr. Awesome says:

    @136 just like a liberal hippie asshole. They weren’t fired, they aren’t even disgruntled. This was a sham protest orchestrated by the AFL CIO. All of these assholes are union workers. They couldn’t even be fired. Thats why they are so bold. Most probably don’t even know why they are there.

    I am sure they are thrilled to have you defend them. You are exactly what they were hoping for. Trust me they don’t even like you.

    Now let me get back to work so I can pay those protester’s healthcare, pensions, overtime, vacations, salary and lets not forget the $60 they made today for hanging out in the lobby all day!

    FUCK YOU!

  138. Anonymous says:

    @118: Pinocchio?!?

  139. @136: get a life liberal arts school moron – last time I checked there was no line up of bankers twisting your pention managers to write up cdos. Or, your greed and chase of abnormal returns to get you out of your spending coma have nothing to do with it. You deserve madoff.

  140. Anonymous says:

    @128: He can’t go to the meetings anymore – they outsourced the clan to Mexico, it’s now known as the “Que Que Que.”

  141. @132. True. If you must know, I pulled the 95% out of my ass. I am willing, however, to be generous and concede 90% but in no possible way anything lower than about 80%.

    Also, I never said I was in a non-idiot profession. 90-95% of the planet is idiots so, like any reasonably sized industry, my profession is at a similar ratio.

    After all, my back office help desk is fucking huge.

    I kid. I used to write algos for you boys awhile ago. Now I make planes fly and satellites float and lasers rain out of the heavens. I can also screw for roughly 4 hours, drink like a fish, and still throw a reasonable breaking ball. So I’d like to think I have a reasonable idea of the situation.

    Now, if you don’t mind, I’m going to continue sucking off my ego elsewhere.

  142. Actually I just made all that up. I mostly sit in my grandmothers basement and masturbate to cosplay and transvestite furry porn.

  143. Sometimes I help Anal_yst with his blog.

  144. mba with pants and popped salmon collar says:

    @47 – PCU? what what?? – I went to Wesleyan!

  145. Anonymous says:

    Where are Pinkerton Riflemen when you need them?

  146. go mama-and go daddy says:

    Wow -with all this f–king going on –tell me why we all can’t get along with each other and learn to share the benefits of our capitalistic situation–before we are forced into a socialistic situation?

  147. Kung fu grip says:

    @114 – fag hiding behind anonymous post – go fuck yourself as I am sure you know how-

  148. creditquant says:

    @117 life is tough without any tangible skills. We all want to make $35 in hour doing assembly work for Ford.

  149. Anonymous says:

    @137

    Please explain in detail what you mean by “Wall Street bankers paid the big bucks”. That is not an explanation for why main street bankers underwrote loans that they knew would never be paid down and it doesn’t excuse their greedy behavior. The simple fact of the matter is, if main street bankers didn’t underwrite the failed mortgages in the first place, none of this would have ever happened.

    Wall Street didn’t pay “big bucks” for the mortgages. They bought them at close to face value. The reason that the Main street banks sold them was because they get an underwriting fee for each mortgage they generate. If they can sell it they are no longer responsible for the risk, yet still keep the fee, so they are able to continue to use their balance sheet to originate crap loans. Wall Street was stupid enough to buy these massive mortgage packages without properly pricing the risk in their models, and as a result got caught holding them when people realized that 80% of the homeowners weren’t able to pay back the loans. If anything Wall Street was stupid in that it mispriced the risk, while Main Street was greedy for orginating the crap loans and over leveraging themselves in the first place. But that story doesn’t sell newspapers so instead the uneducated crowd latches on to explanations like “Wall Street Paid Big Bucks For Bad Mortgages”. That may be a convenient explanation, but it certainly isn’t the root cause of the problem.

    If Congress really wants to make sure that this never happens again, then they need to focus on making sure that people with shitty credit don’t get loans and that people with good credit don’t take on loans that are more than 80% of their gross income. That would have prevented this whole mess.

  150. bukkythec says:

    LIke the WallST protest/rally yesterday – people screaming back:

    THESE PEOPLE PAY 100% of your Federal Taxes, you SLACKERS GO HOME MOOCHERS

  151. guest says:

    i was there when this was happening yesterday around lunch time. these were just some bunch of kids from Bronx or Brooklyn having some fun shouting slogans around the JP buidling at 270 Park. My sense of looking at the crowd was that most of them were actually admiring the Park Ave buildings around there; almost felt like a large group of school trip kids.

  152. Anonymous says:

    @153 Your stupidity makes my balls hurt.

  153. Anonymous says:

    This would never happen in Texas. There you’re allowed to shoot trespassers and union agitators.

  154. Hardy har says:

    let them eat cake

  155. Rand says:

    @ 156 Hey, poor boy. Go and have all your parties with all your new friends. I can see it now. You and all the knee-jerk, bleeding heart liberals, sipping tea and playing patty-cake. And those useless hippie potheads, those commie-pinko leftists. The bunny huggers, the pillow biters…And those beastly man-haters, tell those chicks to shave their pits then call me. And those goddamn whiny crybaby minorities, you can keep them all!!!

  156. Anonymous says:

    @156

    You call me stupid, but you have argument as for why I am wrong. That is because you know I’m write. I guess its tough to dispute the facts. Instead of calling people stupid and talking about your balls like a 5 year old, why don’t you give me an intelligent arguement for why Main Street bankers underwriting shit mortgages and then passing the buck to someone else is a good idea. Then explain how that won’t ultimately cause another financial crisis when people don’t pay back the mortgages.

    I don’t understand why people like you refuse to accept the notion that the financial crisis was a systemwide problem. Probably because you’re one of the millions in this country who sleeps under the blanket of credit that banks provide, but bitches about having to pay interest. You think money should be free and that banks should hand it out to broke people who blow it all on worthless shit and that somehow that is a good business model for America. If that’s the case why don’t you head on over to Huffington Post and commiserate with your fellow deadbeats instead of talking about your balls on Dealbreaker.

    -153

  157. Anonymous says:

    What communication method did the NYC homeless use to organize their “flash mob”?

  158. Anonymous says:

    haha- the jig’s up! I hope you’ve been working out- you’re going to need to run fast.

  159. Anonymous says:

    @117, former amex floor specialist?

  160. Chad says:

    Obama! Obama! Obama!

    Look who is running our society now. Its all over.

  161. jetsgirl says:

    These “protestors” should head on down to the NYSE. Those floor brokers will kick the crap out of them.

  162. Anonymous says:

    @160

    Most of the top subprime mortgage originators (making up most of the volume) were not main street community banks. Some were banks (largely capitalized, publicly traded banks that most would consider not to be main street), others were non-bank finance companies financed through Wall Street (via direct equity investment or a warehouse LOC).

  163. Guest says:

    I hope this is the last Democrat ever hired for this job. Bankers are terrible – let’s make them pay for more welfare!

  164. Guest says:

    #117 TRAINING – Stop whining – it’s free

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  166. Nate says:

    They were at the downtown office – unbeknownst to them, nothing happens there (it's back office)! Keep the midtown buildings on the DL and let the clowns have their fun

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