asalam o alaikum
plz discuss about wall street and what's happening around world about it.
thanks!

"The phrase "Wall Street" has become increasingly imprecise over the years. Originally, it referred to financial services firms headquartered on or near Wall Street in lower Manhattan, whose primary businesses included securities brokerage, securities trading, investment management and/or investment banking. Today, many old-line Wall Street firms have moved significant operations outside Manhattan. Many also have merged with retail banks, commercial banks and/or insurance companies. Additionally, many leading firms within the industry were founded and grew up outside New York. The exact definition of "Wall Street" thus tends to vary from user to user, and sometimes from situation to situation."

Reference Source

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Thanks & Regards
Faseeh

It is something that was very much expected from the cruel western policies, People are against capitalism and they are protesting agaist it. Now it has been proved that islam is the ideal religion and its economic system is the best, as it is in between socialism and capitalism.

Capitalism is enhancing the gap between the have's and havent's. This system is supportive for the elite class only....Thanx God, this time the protest has been started from wall street, not from a muslim world,otherwise U.S might put allegations against muslims that they like conflicts and protests. This incident is very significant for the whole world.

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what humbugs we r,who pretend to live for beauty and never see the dawn :)

What is the aim and achievements of it. Now a days in every news paper we come a cross a lot of stuff on this topic and yet we can not understand that what it "Wall Street Movement", could you guide us as your convenience.

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“Minds like parachutes, only function when open"

Wall Street is the Economic head of the world. The moment started form there is against the system of capitalism.
According to my observation the youth is jobless and the Government do not have any kind of resources to fulfill the gap of demand and supply of jobs.The people who are rich are going to be more richer and poor is going more poorer.
My Pakistan is also facing this problem but in my country there are many issues to protest so it is not gaining popularity.

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Remember me in ur Prayer
Asif Azam Jathol

Following excript from an Opinion Published in the Nation can highlight what this movement is meant for....


...the current mood in New York as the beginning of a new wave of liberty, democracy and civil disobedience against those who have stolen the future of common American people.

The American public is fed up on many accounts, poor economic management, exploitation of the capitalism, long war in the Middle East and AfPak region, and the growing distrust of the three ‘Ws’ - White House, Wall Street and Willing connivance of Corporate America.

It may be interesting to have a look at the slogans enchanted by the protestors on the Wall Street, which include “End the Federal Reserve”, “Enough is Enough”, “Just because we can’t see it does not mean it is not Happening”, “I can’t afford a lobbyist”, “I am the 99 percent”, etc.

....suggested the following agenda on a website: “

(1) Sever the agreement between the government and the Federal Reserve, and begin printing US dollars based on our collective assets as a nation.

(2). Investigate 9/11, bring war profiteers to justice.

(3). Force all officials who so obviously violate the Constitution, as routine daily business out of office.

(4). After the treasonous criminals are out organising a constitutional convention so that war profiteering and manipulation to enslave us can never occur again.

(5). Direct Participatory Democracy.

(6). Universal HC.”

...Republican Congressman, Ron Paul....come out with a revolutionary agenda, calling for an end of the long war and end of Federal Reserve, both targeted at the US Military Industrial Complex. The Occupy Wall Street movement and Paul have lot of commonality in taking up arms against corporate America.


Another useful link describes the movements demand in these words:

1. The Ending of all Corporate Welfare Tax Payers should not be subsidizing for profit companies and Governments should not be in the business of picking winners and losers with Taxpayer money.

2. Create a Penalty Tax for U.S Corporations that Ship Jobs Outside North America. Americans should not loose their jobs so their CEO’s can fatten their wallets even more. CEO’s in this country are the highest paid in the world making hundreds of times more than the average worker more than any other country on earth. Executive compensation has grown to astronomical heights along with consumer goods, job layoffs and jobs going aboard.

3. Close the Offshore Corporate Tax Loopholes. American Corporations should be paying American Taxes and their full and fair share.

4. Give The Shareholders of Publicly Traded Corporations the power to vote on Director/Executive Compensation or at least how that is decided and by whom. The Netherlands already do this and in Australia shareholders have an advisory role in deciding executive compensation and neither has the level of Corporate Corruption that the US has.

5. Prohibit the same person from being Chairman of the Board and Chief Executive Officer at the same time of Publicly Traded Corporations. Having the Chairman and CEO be the same person at a Company puts too much power in the hands of one individual and is a conflict of interest it also often creates a dangerous lack of oversight.

In Canada,Australia and New Zealand nearly all Corporations have a different person in each position. Those countries do not have the level of Corporate Corruption that the United States have. The Board of Directors is suppose to supervise and evaluate the CEO and is responsible for general oversight of the Corporation they can not do that objectively and impartially when the CEO is also The Chairman of the Board.

One can easily conclude that they are protesting against the odd policies of American corporate giants who are responsible for increasing inflation and public debt and making common people suffer..They are seeking accountability from Official who have brought the nation to the edge of bankruptcy, financial reforms so that such a thing never happens again in future.

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Thanks & Regards
Faseeh

Does USA follows odd policies in respect of their own populace. I consider her cruelty only for Muslims. Another point that how much her foreign terror campaigns are the contributing in suffering her nation. I think whole of this devastation seen is due to said reason alone.

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“Minds like parachutes, only function when open"

It is a well known fact that most of the wealthy industrialists of USA and key position holders in Federal Resevers are Jews, hence it is no surprise if their policy may not even consider their own populace, what to say of Muslims.

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Thanks & Regards
Faseeh

Occupy Wall Street movement , to my knowledge , is first ever movement against the Corporate/Business Hegemony that has assumed great proportion across capitalist world .These Corporations are the real rulers who are exploiting the resources in their favor at expense of common people. They exert great influence on Govt and governments are bound to succumb before them.

The national economies across the globe are by far confronting economic down turn after great depression. But at the same time corporate profits are growing exponentially. Corporations are run by people, the ordinary employees but at the end profit goes in the pockets of capital providers.

Look at the banking sector in Pakistan. Our Banking Industry is one of the most profitable one in the world. This is the reasons that International Banks are lured to establish operations in Pakistan. But how it is earning such Huge Profits? At expense of a poor depositor. Pakistan has highest spread (Differnce Between Deposit Rate that banks pay to their depositors and lending rate at which they lend to their debtors). Deposit is blood of Banking Industry as it provides the funds that banks invest to earn the revenues. Ideally the Banks should ensure handsome returns to their depositors and then calculate their profits. But what Banks do, they first calculate their own own profits and then declare return on deposit.

A couple of years ago, they were just paying 0.1 to 1.5 percent on average to PLS Saving account holders while their own return on capital was more than 30 percent. When inflation in the country is around 12 to 13 percent , a depositor who put his money in saving account will end up losing real value of his/her money by 12 percent.

Afterwards , SBP raised the floor rate of deposit to 5 percent at minimum but still Banks Depositor are set to lose the in real terms when inflation is around 12 to 13 percent.

This is just a single example of what is being done to ordinary people by Corporations. So a voice against them is not uncalled far.


I think this is part of evolution that earlier introduced democratic/ representative from of governance in place of authoritarian rule and monarchies. However i think people of advanced nations looking beyond democracy towards participatory farm of governance characterized by even distribution of wealth.

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Hoee hay jab say mukhalif hawa zamanay key......
Humain bhee dhun see hoee hay diaa jalaanay key

sis sadia..thanksalot! u gave a very good exp of banks in pak which cleared quite alot the reason behind wall street movement .. but i want to ask that this movement can be carried in pak.. as against banks and multinational corporations (if they deal common public unfairly, in means of putting more earning in thire pocket and giving less to indivisuals)?

I also want to ask about islamic view related to this.. i mean as in the modes of islamic finance what it says about distributing earned money with shared partner?