Jeff  Carter

Varying posts of mine have elicited comments from Occupy Wall Street spokespeople. I thought that I might respond to one of them in a blogpost. Remember, I am already pitching a perfect game against them.

Now that none other than Obama babysitter and terrorist Bill Ayers has decided to break for Occupy Wall Street, I think I am on even firmer ground.

I am assuming the 1%’ers the OWS street crowd wants to send to re-education camps according to Roseanne Barr is the people that make more than $200k per year. Guess what. A lot of those people are doing it with their own risk capital. They aren’t corporate employees. For the corporate employees that earn more than that, at least they are making decisions that affect billions of dollars of shareholder money. Those corporate employees in general earn it.

How does OWS feel about union executives that earn more than most of the corporate employees that employ the union? Just sayin’.

Am I pissed off about executives of banks walking away with golden parachutes and huge bonuses after running banks into the ground? You bet. But I am smart enough to realize that the Federal Government gave them the ammo to kill their companies via Fannie and Freddie, and then saved them with TALF and TARP. You might also remember that government forced companies like Bank of America ($BAC) to merge with Merrill Lynch ($ML), and that going back to 1998, it was President Clinton and Treasury Secretary Rubin that pushed hard for ending Glass-Steagall.

Jeff Carter

Jeffrey Carter is an independent speculator. He has been trading since 1988. His blog site, Points and Figures was named by Minyanville as one of The 20 Most Influential Blogs in Financial Media.