The Occupy Wall Street movement is well underway, and gaining momentum worldwide. My interest is piqued, and I’m wondering about the longer-term implications of what’s happening right now.
This group of demonstrators has yet to clearly define their stance, goals, or wants. I have reviewed their web site at occupywallst.org, and their main Facebook Page in some detail. These are statements copied from those sites:
• “Occupy Wall Street is leaderless resistance movement with people of many colors, genders and political persuasions. The one thing we all have in common is that We Are The 99% that will no longer tolerate the greed and corruption of the 1%.”
• “…a protest against bank bailouts, corporate greed, and the unchecked power of Wall Street in Washington.”
• “Inspired by the uprisings across the Arab world, and fueled by the feelings of anger and helplessness of everyday Americans…”
Although I am sympathetic to some of the complaints of Occupy Wall Street, I am left with this question: IF YOU WERE IN CHARGE, WHAT WOULD YOU DO? That unaddressed question leaves a massive vacuum that weakens any debate.
Dick Durbin, Democratic Senator from Illinois, successfully spearheaded an effort to limit the fees that banks can charge when consumers use a debit card for purchases. Durbin’s actions, well-meaning as they were, had a woefully predictable result. Once those bank fees were capped, financial institutions looked for other ways to replace the lost revenue. Bank of America was the first mega-bank to announce increased fees to debit-card users, and the fury from consumers was immediate and vocal.
Furthermore, I suggest that demonstrators keep their fancy iPhones in their pockets when the media is around… that is, if they hope to be viewed as one of the 99%.
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