Down with ‘Too Big to Fail’-“Enough is enough!” Angry US-Americans march on Wall Street
“Enough is enough!” NYC rallies against Wall Street
Published 30 April, 2010, 09:40 Edited 01 May, 2010, 05:22
The largest anti-Wall Street rally since the credit crunch has taken place in New York. Thousands of workers and trade union leaders marched in anger over lost jobs and ruined lives, demanding answers from the source of the trouble – the banks.
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.
Source: Russia Today
Workers march on Wall Street, Protest Big Banks
By CRISTIAN SALAZAR (AP)
April 30, 2010 — NEW YORK — Thousands of workers and union leaders marched on Wall Street on Thursday to express their anger over lost jobs, the taxpayer-funded bailout of financial institutions and questionable lending practices by big banks.
The rally was organized by the AFL-CIO and an association of community groups. It included a diverse mixture of union workers, activists, the unemployed, and homeowners threatened by foreclosure.
«These guys are like pirates,» said small business owner Karen Casamassima, of New York, who called for «economic patriotism» and held up a sign depicting a jewel encrusted skull with the words, «Financial Terrorists.»
The protesters, carrying signs saying «Wall Street Overdrafted Our Economy» and «Reclaim America,» rallied at City Hall Park, then marched down to the Merrill Lynch Bull statue demanding good jobs and accountability from banks.
«I think Wall Street is responsible for the collapse of our economy,» said Bennett Silverstein, an attorney from Brooklyn who said his savings were depleted by the recession.
Earlier in the day, noisy protesters with signs took over two bank building lobbies on Manhattan’s Park Avenue in a prelude to the rally.
More than 100 people entered a midtown building housing JPMorgan Chase offices. They handed a bank executive a letter requesting a meeting with the CEO, and chanted «Bust up! Big banks!» and «People power!»
A half-hour later, they were calmly escorted outside by officers, who remained expressionless as the protesters chanted, «The police need a raise.»
They then walked a few blocks up the avenue and crowded into the lobby of the Seagram Building, where Wells Fargo and Wachovia, the bank it merged with in 2008, have offices.
The protesters held up signs reading, «Save Our Jobs» and «Save Our Homes.» One included a Great Depression-era photograph. Police arrived on horseback as curious office workers watched the scene unfold from their windows.
«We’re here today to stop the corporate greed that is ruining our neighborhoods,» said Andrea Goldman, 59, of Springfield, Mass., who’s part of a group called Alliance to Develop Power.
Fran Durst, a Wachovia spokeswoman, said the protesters wanted to deliver a letter to the bank, and they did so. She declined further comment on the letter.
The other banks did not immediately respond to requests for comment.
The Securities Industry and Financial Markets Association, which includes many Wall Street financial institutions, declined to comment.
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