Occupy Wall Street
The Occupy Wall Street movement has entered its fourth week. The protest which began in New York City has now spread across the United States and is well on its way to doing so beyond US borders.
The protestors are essentially opposed to the 2008 bailout of financial institutions and the demonstrative greed and corruption of the US political and business elites. These have left them impoverished.
As a part of the International Day of Action on Saturday, October 15, the Occupy Wall Street protests have begun outside the U.S. New Zealand, London, Frankfurt, Rome are all examples of localities where the movement has also occurred. More than 951 cities in 82 countries demonstrated.
The protestors identify themselves as "the 99%", those who are losing jobs and homes due to deep recession which they blame on the banking sector, against the 1% of the greedy, rich and corrupt banks. The top 1% holds the US's wealth, according to an Economic Policy Institute Analysis. It is a movement to make themselves heard to their governments and to reinforce the idea that they are not goods in the hands of their governments and bankers who do not represent them. The protesters count on peacefully demonstration, talking and organizing until their voices are heard.
Many politicians, including President Obama have acknowledged publicly the group's influence. Clearly, Main Street is taking its battle to Wall Street, gaining support from powerful organizations on the way.
It is our sincere hope that policymakers pay heed to this movement to ensure that such colossal financial meltdowns such as was seen in the U.S. in 2008 and the one which Europe is seeing presently do not recur.
Comments