This would certainly crash the banking sector and create chaos.

Almost without a doubt though this would backfire because the government would step in and take control of the burning assets and the taxpayer would be left on the hook for the losses. You can't beat the rich at their own game, they've already purchased the government.

Quote :

"CAUGHT ON TAPE: Former SEIU Official Reveals Secret Plan To Destroy JP Morgan, Crash The Stock Market, And Redistribute Wealth In America A former official of one of the country's most-powerful unions, SEIU, has a secret plan to "destabilize" the country. The plan is designed to destroy JP Morgan, nuke the stock market, and weaken Wall Street's grip on power, thus creating the conditions necessary for a redistribution of wealth and a change in government. The former SEIU official, Stephen Lerner, spoke in a closed session at a Pace University forum last weekend. The Blaze procured what appears to be a tape of Lerner's remarks. Many Americans will undoubtely sympathize with and support them. Still, the "destabilization" plan is startling in its specificity, especially coming so close on the heels of the financial crisis. Lerner said that unions and community organizations are, for all intents and purposes, dead. The only way to achieve their goals, therefore--the redistribution of wealth and the return of "$17 trillion" stolen from the middle class by Wall Street--is to "destabilize the country." Lerner's plan is to organize a mass, coordinated "strike" on mortgage, student loan, and local government debt payments--thus bringing the banks to the edge of insolvency and forcing them to renegotiate the terms of the loans. This destabilization and turmoil, Lerner hopes, will also crash the stock market, isolating the banking class and allowing for a transfer of power. Lerner's plan starts by attacking JP Morgan Chase in early May, with demonstrations on Wall Street, protests at the annual shareholder meeting, and then calls for a coordinated mortgage strike. Lerner also says explicitly that, although the attack will benefit labor unions, it cannot be seen as being organized by them. It must therefore be run by community organizations. Lerner was ousted from SEIU last November, reportedly for spending millions of the union's dollars trying to pursue a plan like the one he details here. It is not clear what, if any, power and influence he currently wields. His main message--that Wall Street won the financial crisis, that inequality in this country is hitting record levels, and that there appears to be no other way to stop the trend--will almost certainly resonate. A transcript of Lerner's full reported remarks is below, courtesy of The Blaze. We have heard the tape, but we have not independently verified that the voice is Lerner's. You can listen to the tape here. Here are the key remarks: Unions are almost dead. We cannot survive doing what we do but the simple fact of the matter is community organizations are almost dead also. And if you think about what we need to do it may give us some direction which is essentially what the folks that are in charge - the big banks and everything - what they want is stability. There are actually extraordinary things we could do right now to start to destabilize the folks that are in power and start to rebuild a movement. For example, 10% of homeowners are underwater right their home they are paying more for it then its worth 10% of those people are in strategic default, meaning they are refusing to pay but they are staying in their home that's totally spontaneous they figured out it takes a year to kick me out of my home because foreclosure is backed up If you could double that number you would you could put banks at the edge of insolvency again. Students have a trillion dollar debt We have an entire economy that is built on debt and banks so the question would be what would happen if we organized homeowners in mass to do a mortgage strike if we get half a million people to agree it would literally cause a new finical crisis for the banks not for us we would be doing quite well we wouldn't be paying anything... We have to think much more creatively. The key thing... What does the other side fear the most - they fear disruption. They fear uncertainty. Every article about Europe says in they rioted in Greece the markets went down The folks that control this country care about one thing how the stock market goes what the bond market does how the bonuses goes. We have a very simple strategy: How do we bring down the stock market How do we bring down their bonuses How do we interfere with there ability to be rich... So a bunch of us around the country think who would be a really good company to hate we decided that would be JP Morgan Chase and so we are going to roll out over the next couple of months what would hopefully be an exciting campaign about JP Morgan Chase that is really about challenge the power of Wall Street. And so what we are looking at is the first week in May can we get enough people together starting now to really have an week of action in New York I don't want to give any details because I don't know if there are any police agents in the room. The goal would be that we will roll out of New York the first week of May. We will connect three ideas that we are not broke there is plenty of money they have the money - we need to get it back and that they are using Bloomberg and other people in government as the vehicle to try and destroy us And so we need to take on those folks at the same time. And that we will start here we are going to look at a week of civil disobedience - direct action all over the city. Then roll into the JP Morgan shareholder meeting which they moved out of New York because I guess they were afraid because of Columbus. There is going to be a ten state mobilization to try and shut down that meeting and then looking at bank shareholder meetings around the country and try and create some moments like Madison except where we are on offense instead of defense Where we have brave and heroic battles challenging the power of the giant corporations. We hope to inspire a much bigger movement about redistributing wealth and power in the country and that labor can’t do itself that community groups can’t do themselves but maybe we can work something new and different that can be brave enough and daring and nimble enough to do that kind of thing."

[Edited on March 23, 2011 at 2:15 AM. Reason : a]

3/23/2011 2:13:02 AM

Yea, and I have a plan to conquer France. Doesn't mean anyone else should care.

3/23/2011 8:47:51 AM

I was hoping you would post a link this time. I could really use some new survival gear.

3/24/2011 5:37:28 AM

I didn't know Charlie Sheen once worked for the SEIU

3/24/2011 9:15:10 AM

France had a "let's cause a run on the banks" day back in december. Didn't work.

3/24/2011 11:07:55 AM

LOL! Notice he didn't cite his source?

This thread should be deleted.

3/24/2011 11:32:46 AM

Hey how about posting a reference link or else we will assume you made this crap up on your own...actually, I don't
believe you are intelligent enough to think up that story...you must have gotten in an email from your grandparents right?

3/24/2011 7:19:28 PM

Probably some right-wing nut blog like "World Net Daily", "The Blaze" or Breitbart.

3/24/2011 7:55:55 PM

http://www.businessinsider.com/seiu-union-plan-to-destroy-jpmorgan

3/24/2011 8:10:45 PM

So really, the title should read "Liberals and Unions waging economic terrorism."

3/24/2011 9:28:48 PM

pryderi nailed it

From Chance's link:

Quote :

"The Blaze procured what appears to be a tape of Lerner's remarks."

So lets go over a few important details:
1) This article pulls stuff from G Beck's Blaze Blog. Just want that noted.
2) From the same article:

Quote :

"We have heard the tape, but we have not independently verified that the voice is Lerner's"

3) Let's give this gullible "face" teabagger a little room to hang himself. Let's assume that it is Lerner on the tape.
4) From the same article:

Quote :

"Lerner was ousted from SEIU last November"

5) So the dude is no longer in a position to do what Beck and company wants you to fear that he can do.
6) face: You appear to be a gullible teabagger type who will swallow any load Glen Beck wants you to. I am sure
he appreciates you being a nice devoted Fox News Sheeple.

tl;dr: face pwnt.

3/25/2011 8:07:11 PM