
Why No Outrage? - nickb
http://online.wsj.com/article/SB121642367125066615.html
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Alex3917
"John McCain, the angrier of the two presumptive presidential contenders"

Statements like these detract from the credibility of the article.

~~~
nickb
They don't detract at all because they're true. McCain has some serious
anger/temper problems and that's not really a secret. He's had numerous
outbursts on TV and on Senate floor.

[http://www.boston.com/news/nation/articles/2008/01/27/famed_...](http://www.boston.com/news/nation/articles/2008/01/27/famed_mccain_temper_is_tamed/)

So I don't really why stating that simple fact would take away anything from
its credibility.

~~~
Alex3917
The word angrier implies there is an objective way to measure anger. There
isn't. Ask Howard Dean.

~~~
rms
>is an objective way to measure anger

Number of incidents where John McCain has been on camera/near reporters and
been angry: many.

Number of incidents where Barack Obama has been on camera/near reporters and
been angry: none.

It's objective enough for these purposes.

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gills
Some people are outraged. Much of the 'populace' of this forum:
<http://www.tickerforum.org> and the originator of this one:
<http://financialpetition.org>

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ckinnan
Its more of a social survey of the current economic situation and the (lack
of) outrage among the masses at this point in history. It's off topic but a
worthwhile read.

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sdurkin
Somebody needs to point the mob in the right direction.

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ltbarcly
People need to be told when to be outraged. Most people, including the
majority of people reading these words, don't understand how the banking
system works, even on a simple level, or how stock exchanges work, on a basic
level, or how the mortgage system works, except via media oversimplifications.
This isn't some symptom of our 'declining modern times' or some such, it is
the way it always have been. Hell, most farmers don't even know how to be good
farmers, feel free to replace 'farmer' there with any occupation. Most people
just aren't very smart, and getting even a 'regurgitate the basic facts'
understanding of any of the topics I mentioned above would take them weeks of
fulltime study. So how the hell can they be mad? Mad at what? The complex
system they will never understand and doesn't seem to have any effect on their
lives, or the media which tells them it's nothing to be mad about, confirming
their day to day impressions?

~~~
noonespecial
Lets use the laymen's sniff test to figure out the level of WTF present in our
system, using IndyMAC as an example.

You have all your money in an IndyMac account. They hold your mortgage.
IndyMAC collapses prompting the FDIC to take them over and bail them out. What
happens:

You lose at least half (probably more) of all the money you have in the bank
over $100k. They get a fat bailout, so long and thanks for all the cash. You
are still expected to repay your mortgage in full.

I know there's probably some logical explanation in financialese showing that
this is the right outcome... But, come on, they lose your money and still
demand to be repaid... WTF?!

There is the outrage.

~~~
ltbarcly
Ok, you're confused here. Something can be an outrage, and something can cause
outrage. The question "where's the outrage?" isn't "Where's waldo, see if you
can spot an outrage", rather "why aren't people outraged!?".

Also, when the FDIC takes control of a bank, the shareholders of the bank are
basically fucked. They lose their money, it isn't a bailout. The FDIC insures
YOU against the fatcats, preventing them from blowing your money and leaving
you destitute.

Finally, everyone knows that 100k is how much is ensured, and you should also
know that that limit is per institution, so you can put money in 80 different
banks and have 8M effectively insured.

There are all sorts of issues with the banking system, but it is fairly
decent. It is certainly not some dystopia dreamed up by left wing conspiracy
theorists (nor right wing, like ron paul).

------
jerry5
The Wall Street Journal disses Wall Street!? ZOMFG

