Wednesday, October 12, 2011

Occupy Wall Street has exposed a raw nerve.

When the Tea Party took to the streets in protest, the media said they were patriots taking back the country and reducing the size of government. Why did they get the support of the media? Simple .....the media are corporations and the Tea Party was bought and paid for by corporations. The corporations saw an opportunity to buy the favor of a group of Americans and took it.

Now we are seeing another upraising led once again by Americans, only this time the corporations are not happy. They are working to discredit this group and paint them as a disorganized mob. Some that support the Republican Party have actually come out and endorsed hitting protestors with cars to discourage them. They have used the police to intimidate and carry out violence against them even though they have been for the most part non-violent.

The protests have gained in popularity and have been taken up in many parts of the world. This has to have the corporations very upset. Unlike the Tea Party, which they have control over because of the money they had used, they have no control over this grassroots movement that is free of the influence of greed.

One Wall Street banker described the protesters as "a bunch of whiny people who are lazy or incompetent and have nothing to do with their time." He also said he was concerned the rhetoric could escalate to violence. "Who's to say they won't storm NYSE or throw something at the window of Goldman Sachs, that in turn inspires them to grab an investment banker and throttle him?" Guess it is time they realize they may not be as protected behind the ivory towers of Wall Street as they thought.

It was announced just today that South Korea has joined in the OWS protests. The world is awakening, still groggy from the nightmare fostered by the corporate world, and is ready to take back reality.

Some Wall Street employees who initially dismissed the protests as disorganized and unimportant are also starting to worry that they may lead to punitive policies in Washington, such as higher taxes for the wealthy.

"I think this thing will continue to grow," said Robert Siegfried, a partner who works with financial clients at the communications firm Kekst & Co. "Wall Street is just a term here that represents the huge disparity in income levels and the distribution of wealth in this country. For anyone to dismiss it, that's a terrible underestimation of the sentiment behind this phenomena."

Goldman Sachs Group Inc Chief Executive Lloyd Blankfein canceled a planned lecture this week at Barnard College, a liberal arts school in Manhattan, as students prepared to protest his appearance.

Goldman Sachs has been painted by some lawmakers and activists as the epitome of Wall Street greed following investigations into its actions leading up to the financial crisis. Blankfein, who has headed the firm since 2006, has frequently been the target of populist rage.

Last week, an Occupy Wall Street protester marched with a gory image of Blankfein's head, impaled on a stick, according to the financial blog Business Insider. In late-September, an anonymous hacker posted his address and other personal information on the website Pastebin.

Goldman spokesman Stephen Cohen declined to comment on the protests and said Blankfein canceled the lecture because of a scheduling conflict.

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