Occupy Wall Street is fed up because JP Morgan is willing to spend on shareholders but not employees

JPMorgan posted quarterly earnings of $4.3 billion, or $1.02 per share, down from $4.4 billion, or $1.01 per share, in the same quarter last year.

The results were muddied by adjustments for the market value of the bank's debt, which gave it a $1.9 billion pre-tax gain.

Despite the weak environment in investment banking, JPMorgan bought back $4.4 billion of stock during the quarter, and its diluted outstanding shares fell about 3 percent.

JPMorgan Chief Executive Jamie Dimon said the company is cutting 1,000 jobs in its investment bank. Banks globally are laying off staff in the wake of weak stock and corporate credit markets.

The above are all quotes By David Henry | Reuters on Oct 13, 2011.

So lets get this straight, JP Morgan can spend $4.4 Billion propping up company shares for shareholders and executive fat cats but screw the 1000 employees. You know they are not getting rid of the highly paid ones. These are all the people who are actually doing the work probably making $100,000 or less. Now they will have lots of extra cash to give more fat bonuses to morons who already take home fat paychecks. Is it any wonder that America hates Wall Street? The executives in charge think only about themselves and how many stock options they are going to get. Not whether they could spend some of this huge warchest they have laying around adding employees and boosting the economy. Or maybe do something original with it and forgive a certain amount of debt on peoples houses to help them stay in it. But no they'd rather just foreclose and take a bigger hit to their books.

Tired of hearing 1% of the population owns all the assets

Are you tired of being poor and hearing how so and so has millions of dollars?  Are you fed up with paying high prices for items?  Do you cringe every time you read a story about how 1% of the population has over 50% of all wealth in America?  Do you wish you could do something about it?  We can.  The problem is, it has to be we, no one on their own can change things.  If we the consumer unite and hit the fat cats where it hurts, their wallets, they'll listen.  Otherwise they do not care about us, they only care about how much money they are making.  Do not wait for Congress to fix this, they won't.  They are part of the problem.  Since they are fat cats too do you think they are going to smack themselves in the wallet?  The answer is no they won't and it is not just Democrats or just Republicans, it is all of them.  The bailouts did not protect the little guy, they protected the fat cat banks and bankers because guess where Congressman have their money, you guessed it, Wall Street.  Who is going to pay for their next run for office if they take money away from the rich?

We the American public have to fix things and it is not as difficult as you think.  The rich are rich because we made or make them rich.  By buying things we do not need or overpaying for services.  We can affect the prices of all these things if we choose not to buy them.  The other way we make the fat cats fatter is by watching TV.  Prime example is the NFL.  The networks pay $4 billion to the NFL to broadcast games.  $4 billion, is that ridiculous or what.  We allow this to happen by watching sports on TV.

Here is how we can change it,  declare a national no doing something day.  We can start small and easy, no using a credit card, debit card or checks, pay for everything in cash.  This won't hurt anyone but banks, Visa and MasterCard.  If we tell them explicitly we are fed up, we are tired of being robbed and we are doing it to send a message, they might get it.  We also have to tell them that laying off people in response is unacceptable and if they do layoffs because of it, then next time it won't be a day, it'll be a week.  If they won't listen then the holiday gets longer until we just cut up our cards and use nothing but cash.  This strategy can be applied to anything, athletes paid too much?  Stop watching on TV one weekend and do not go to any games that weekend.  They'll get the message in a hurry.  Actors and actresses paid too much and you're tired of paying $10 for a bad movie.  Set a national do not go to the movies night on a Friday or Saturday.  With the rise of social networking, smart phones and flash mobs we can do this.

The fat cats are getting fatter everyday.  No one is going to stop them but us.  They all pat themselves on the back getting on each others compensation committees.  Trying to extort us by claiming if we don't give them millions for a new stadium they are leaving.  I say good riddance, maybe we'll get lucky and no other city will be stupid enough to pay out for you either.