Tuesday, October 11, 2011

Reuters: Wall St. Protestors Target Homes of Top Executives

Hmm... in 2007 I opined despite the slow erosion of the middle class [Dec 2007: Do the Bottom 80% of Americans Stand a Chance?], that as long as you gave the people food stamps, American Idol, and NFL they will remain contained (i.e. the circus and bread strategy employed in Roman times) for a very long time.  Perhaps I was wrong it could last a decade or two more.  It appears the natives are waking up.  Latest story is a move to protest outside the homes of the country's politically favored.

Hmm... anyone have directions to Greenspan's house?

  • The Occupy Wall Street movement will take its protests to the New York homes of super-wealthy executives on Tuesday as Goldman Sachs boss Lloyd Blankfein canceled a talk at a college in the city.
  • Protesters will march through Manhattan's Upper East Side on a "Billionaire's Tour" to take their grievances about economic inequality to the homes of News Corp's Rupert Murdoch, JPMorgan Chase's Jamie Dimon and others.
  • As the movement builds strength around the United States, Blankfein canceled a talk at New York's Barnard College, saying he had to be in Washington.
  • About 100 protesters were arrested earlier on Tuesday in Boston after the group expanded its camp. The "Billionaire's Tour" on Tuesday also plans to stop at the homes of David Koch, co-founder of energy conglomerate Koch Industries, and hedge fund manager John Paulson.
  • "Join us on a walking tour of the homes of some of the bank and corporate executives that don't pay taxes, cut jobs, engaged in mortgage fraud, tanked our economy ... all while giving themselves record setting bonuses," said NYC Communities for Change, one of several groups organizing the protest.  It said protesters would march from house to house "demanding accountability for Wall Street crimes and an extension of the Millionaire's Tax," a New York state tax that is due to expire at the end of the year.
  • On Thursday college students are planning a solidarity protest on at least 56 campuses, while large protests against economic inequality are being planned on Saturday around the United States.

On a serious note - it is pretty fascinating to see this play out in the U.S., which aside from the 60s does not have a culture of protest as is common in Europe.  Even if the system is so corrupted it is doubtful any change can happen, its still nice to see some people emerge from slumber.   In many ways this movement has very similar roots to the original Tea Party (rage against the machine...), before it got hijacked...

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