Former SEIU Leader Wants to "Bring Down the Stock Market!"

I'm not quite sure what this is supposed to accomplish but the former SEIU head Stephen Lerner sounds like a college kid trying to "take on the system" who obviously doesn't know how the world works.

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.

Um, civil disobedience at the JP Morgan Chase shareholders meeting will not "bring down the stock market" even in this guys most fevered imaginings. Maybe if they got a few hundred million shares together and had a proxy fight to oust their board or replace their CEO with some SEIU dullard it would actually make JP Morgans stock drop. I wonder if the SEIU has a few billion back at the clubhouse to pull off this "Pinky and the Brain" level scheme?

The funny thing is that Citigroup or Bank of America would easily pick up the slack while increasing their market share. If it isn't an American bank then I'm sure Deutsche Bank, UBS, or Credit Suisse would love to have that added business. Then speculators would make a mint off of shorting JP Morgans stock and buying their debt on the cheap. The idea that SEIU could drive JP Morgan out of business makes me laugh out loud.

Actually the most ironic thing about this SEIU comic book villain scheme of "bringing down the stock market" is that it would cripple private and public Union pension funds which are mostly invested in equities and bonds. I'm pretty sure CALPERS would not enjoy it if JP Morgan suddenly went out of business due to SEIUs firing their "super secret stock market killer death ray machine." This "bringing down the stock market" nonsense would cost Union members and retirees every penny that the worked for.

Plus if you're an American with a 401K or an IRA and are invested in equities, mutual funds, or bonds then the SEIU has just declared war on your retirement. "Bringing down the stock market" means many, many people will have their retirement funds at risk. Way to go SEIU. Whatever support you wanted to get from the ordinary American just left when you tried to destroy their retirement funds.