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“Enough is enough!” NYC rallies against Wall Street
Published: 30 April, 2010, 09:40
Edited: 01 May, 2010, 05:22
A protester wears a skeleton mask during the "Main Street to Wall Street" rally in New York's financial district, April 29, 2010
(10.5Mb) embed videoTAGS: Scandal, Protest, USA, Finance
Thousands of workers and trade union leaders have marched in anger over lost jobs and ruined lives in the largest anti-Wall Street rally since the credit crunch began in New York.
Traffic came to a halt in the financial district as rallying crowds swamped the streets. They demanded answers from the source of the trouble – the banks.
Those thousands of people in New York City represent the millions all over the United States. They have a feeling of outrage in common – a sentiment which has reached its peak in America.
In a loud call for accountability, people want an end to the mess on Wall Street.
“They are just doing the reverse of Robin Hood, they are stealing from the poor, who need all their things to live, and giving it all to the rich – it makes no sense,” said nine-year-old Sam Kesler, perhaps the youngest protester in New York. Regardless of his age, even Sam is aware that something is not right with the country’s economy.
As a result of the scams of Wall Street’s fat cats, millions of Americans lost their homes, while millions more lost their jobs.
“When the top 1% of wealth in this country controls the political decisions, when the money that comes straight out of banks goes to bonuses instead of taking control of problems that we need, and that same money goes to the politicians who make those decisions, people should be annoyed,” one of the protestors put it bluntly.
Instead of bailing out the people, the US Government made the taxpayer foot the bill for the “Too Big to Fail” companies. Time went by and no one was punished for creating the economic tsunami.
People on the streets know too well that if one of them did the same scheme, they would be in jail, while those from Wall Street not only got away with it, but got bonuses to boot.
Just months after being kept afloat by common Americans, bankers again began spending hundreds of millions of dollars in bonuses.
People have realized the US needs good financial regulations to make sure the catastrophe doesn’t repeat itself. And despite the public outrage, not too many bankers are biting their lips in shame.
Record-high cash is being spent on an army of lobbyists to make sure they work 24/7 in Washington to prevent financial reforms and the financial district from going about business as usual.
In addition, even the bull sculpture on Wall Street is no longer being rubbed for luck as a symbol of financial optimism, but in fact needs bodyguards of its own.
30.04.2010, 09:02
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30.04.2010, 10:26
12 comments
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@ Shilka.maskirovka - you are not alone, but most people don't want to face the ugly truth. The silent majority has not yet fully realized that their retirement funds are non-existent. When everybody realizes that their savings and 401(k)s disappeared way back in 2008 in a puff of electrons, then there will be activity of a sort. That is, if all the old folks who want to rebel actually have energy enough to do it. Based on conversations I've had with friends and family, most of the middle class people in USA, those who think they are invested in the economy, still think they will get "something" on retirement. "Something", that is, other than "the shaft". I am spending my retirement funds now on education. It is portable and it doesn't depreciate with inflation.
I am amazed there is not more ppl demonstrating against these banks, is it so that the silent majority has not lost anything yet and that's why they aren't seen in this? I mean if something is to be demonstrated about this is one key subject. Look - the system I got something you don't wont work the next time this crashes down on us and it will, cause its already planned for that. The new global money has already been seen by the public when President Dmitry Medvedev showed it in public 2 years ago. When will people wake up to this reality? Am I alone?
I am surprised that protesters in NYC failed to realize some positive sides of the current US economic situation. At least two positive aspects deserve to be cited: a) I have red somewhere that 35000 employees of Goldman Sach got 400 000 USD bonuses each (on average). That is around 13 billion USD for 2009 for bonuses. Now, these 35000 will start buying everything around and that could very much boost the US economy. That is surely a positive aspect, isn't it? What is more, this shows the way along which the US leaders should proceed further in the years to come: bailouts of banks should be significantly increased and the bankers will have much greater bonuses. Accordingly, they will be spending even more, buying houses, hotels, etc. and they will need gardeners, room service personel waiters, ..... Therefore, there will be a lot of jobs for the crowd. b) Increased funding for the US military will only bring a much more improved security for its citizens. There are lot of threats all around the globe for the US and that is why the people of US needs to spend more for the military. It therefore follows that increasing funds for the military complex is just the right move and it is exactly what ordinary US citizens need. US is on the steady course. Therefore, my modest opinion is that the NYC protesters should reconsider their demands.