LOGO: Truthdig: Drilling Beneath the Headlines. A Progressive Journal of News and Opinion. Editor, Robert Scheer. Publisher, Zuade Kaufman. Winner 2013 Webby Awards for Best Political Website
May 23, 2013

 Choose a size
Text Size

Trending:     chris hedges     economy     elizabeth warren     politics     robert scheer
Most Read

A Call to Action

Bizarre, Apparently Jihadist Slaying in London (Video)

Oklahoma Needs Help, Not Ideology

Colbert Slams PBS for Appeasing Koch Brothers

Hell on Earth for Greeks

Most Comments
Most Emailed

Reports
 * NEW! * Fish Migration Reveals Ocean Warming

Ear to the Ground

A/V Booth

Arts & Culture
A Call to Action
Act of Congress
Daily Rituals

Digs

Truthdig Bazaar
Lords of the Land

Lords of the Land

By Idith Zertal and Akiva Eldar
$ 19.77

The Making of Global Capitalism

The Making of Global Capitalism

By Sam Gindin and Leo Panitch
$29.95

more items

 
Reports

99 Percenters Occupy Wall Street

Email this item Email    Print this item Print    Share this item... Share

Posted on Sep 20, 2011
AP / John Minchillo

By Amy Goodman

If 2,000 tea party activists descended on Wall Street, you would probably have an equal number of reporters there covering them. Yet 2,000 people did occupy Wall Street on Saturday. They weren’t carrying the banner of the tea party, the Gadsden flag with its coiled snake and the threat “Don’t Tread on Me.” Yet their message was clear: “We are the 99 percent that will no longer tolerate the greed and corruption of the 1 percent.” They were there, mostly young, protesting the virtually unregulated speculation of Wall Street that caused the global financial meltdown.

One of New York’s better-known billionaires, Mayor Michael Bloomberg, commented on the protests: “You have a lot of kids graduating college, can’t find jobs. That’s what happened in Cairo. That’s what happened in Madrid. You don’t want those kinds of riots here.” Riots? Is that really what the Arab Spring and the European protests are about?

Perhaps to the chagrin of Mayor Bloomberg, that is exactly what inspired many who occupied Wall Street. In its most recent communique, the Wall Street protest umbrella group said: “On Saturday we held a general assembly, two thousand strong. ... By 8 p.m. on Monday we still held the plaza, despite constant police presence. ... We are building the world that we want to see, based on human need and sustainability, not corporate greed.”

Speaking of the tea party, Texas Gov. Rick Perry has caused a continuous fracas in the Republican presidential debates with his declaration that the U.S.’ revered Social Security system is a “Ponzi scheme.” Charles Ponzi was the con artist who swindled thousands in 1920 with a fraudulent promise for high returns on investments. A typical Ponzi scheme involves taking money from investors, then paying them off with money taken from new investors, rather than paying them from actual earnings. Social Security is actually solvent, with a trust fund of more than $2.6 trillion. The real Ponzi scheme threatening the U.S. public is the voracious greed of Wall Street banks.

I interviewed one of the “Occupy Wall Street” protest organizers. David Graeber teaches at Goldsmiths, University of London, and has authored several books, most recently “Debt: The First 5,000 Years.” Graeber points out that, in the midst of the financial crash of 2008, enormous debts between banks were renegotiated. Yet only a fraction of troubled mortgages have gotten the same treatment. He said: “Debts between the very wealthy or between governments can always be renegotiated and always have been throughout world history. ... It’s when you have debts owed by the poor to the rich that suddenly debts become a sacred obligation, more important than anything else. The idea of renegotiating them becomes unthinkable.”

Advertisement

President Barack Obama has proposed a jobs plan and further efforts to reduce the deficit. One is a so-called millionaire’s tax, endorsed by billionaire Obama supporter Warren Buffett. The Republicans call the proposed tax “class warfare.” Graeber commented: “For the last 30 years we’ve seen a political battle being waged by the super-rich against everyone else, and this is the latest move in the shadow dance, which is completely dysfunctional economically and politically. It’s the reason why young people have just abandoned any thought of appealing to politicians. We all know what’s going to happen. The tax proposals are a sort of mock populist gesture, which everyone knows will be shot down. What will actually probably happen would be more cuts to social services.”

Outside in the cold Tuesday morning, the demonstrators continued their fourth day of the protest with a march amidst a heavy police presence and the ringing of an opening bell at 9:30 a.m. for a “people’s exchange,” just as the opening bell of the New York Stock Exchange is rung. While the bankers remained secure in their bailed-out banks, outside, the police began arresting protesters. In a just world, with a just economy, we have to wonder, who would be out in the cold? Who would be getting arrested?

Denis Moynihan contributed research to this column.

Amy Goodman is the host of “Democracy Now!,” a daily international TV/radio news hour airing on more than 900 stations in North America. She is the author of “Breaking the Sound Barrier,” recently released in paperback and now a New York Times best-seller.

© 2011 Amy Goodman

Distributed by King Features Syndicate


New and Improved Comments

If you have trouble leaving a comment, review this help page. Still having problems? Let us know. If you find yourself moderated, take a moment to review our comment policy.

By GradyLeeHoward, September 21, 2011 at 5:00 am Link to this comment

Wall Street is a sideshow. It is a drive-in window
for fast-money millionaires. Where is the locus of
financial and monetary power? It is in the cabals
of international schemes and chichanery, where
national debts are calculated and where big money
games are supposedly regulated. These conspiracies
are totally secure and secret, and no reporters go
there. No one can protest what is unknown.

What is known is that at any second there are
derivatives playing out with liabilities greater
than a quadrillion dollars, a figure exceeding the
appraised value of all the assets in the world. And
what is known is that when one of these bets goes
the wrong way it is the people of Greece, the
people of Japan, the people of Italy and even the
people of Haiti who must and will pay. What is
known is that all the military might in the world,
paid for by taxpayers, is in the service of these
great cabals, and will be mobilized for debt
collection. The only way to resist is to refuse to
participate. All those 2,000 people who occupied an
intersection in south Manhattan now have their
faces in the Homeland Security databases and their
names on terrorist watch lists. If you know one of
them be prepared to hide and protect them when the
crackdown comes. Look for another 9/11, another
state enabled false-flagged death incident to set
the ball rolling. The crackdown will come when we
refuse their play money.

Report this

By Big B, September 21, 2011 at 4:54 am Link to this comment

Hit a little to close to home for “the Stranger” didn’t I.

The stranger, and narrow minded pinheads like him/her fail to realize what has happened on the religious landscape in america in the last 50 years. CORPORATE AMERICA LOVES PIOUS PEOPLE. Why? its simple really, religion teaches people to OBEY. And big business loves a pliant audience that doesn’t question authority. Its the same bullshit preached by shaman and witch doctors and kings and lords throughout our history. God chose me and my family to rule over all of you. Until we put “god” behind us, we will continue wallow in our shit, and be taken advantage of by oligarchs.

Its so easy to piss off religious people.

Report this

By VW, September 21, 2011 at 2:26 am Link to this comment
(Unregistered commenter)

Hey Nick,

They don’t pay taxes because they don’t make enough to pay taxes, unlike the corporations you probably think are “job creators”. Go troll on some FOX site. Quit mouthing Fascist statistics not grounded in reality.

Report this
Robespierre115's avatar

By Robespierre115, September 20, 2011 at 9:13 pm Link to this comment

Good to see SOME people speaking out. But as long as it’s just a bunch of kids with postmodern mindsets nothing much will happen except venting. As Slavoj Zizek wrote when analyzing the recent protests in Europe:

http://www.lrb.co.uk/2011/08/19/slavoj-zizek/shoplifters-of-the-world-unite

“Today’s left faces the problem of ‘determinate negation’: what new order should replace the old one after the uprising, when the sublime enthusiasm of the first moment is over? In this context, the manifesto of the Spanish indignados, issued after their demonstrations in May, is revealing. The first thing that meets the eye is the pointedly apolitical tone: ‘Some of us consider ourselves progressive, others conservative. Some of us are believers, some not. Some of us have clearly defined ideologies, others are apolitical, but we are all concerned and angry about the political, economic and social outlook that we see around us: corruption among politicians, businessmen, bankers, leaving us helpless, without a voice.’ They make their protest on behalf of the ‘inalienable truths that we should abide by in our society: the right to housing, employment, culture, health, education, political participation, free personal development and consumer rights for a healthy and happy life.’ Rejecting violence, they call for an ‘ethical revolution. Instead of placing money above human beings, we shall put it back to our service. We are people, not products. I am not a product of what I buy, why I buy and who I buy from.’ Who will be the agents of this revolution? The indignados dismiss the entire political class, right and left, as corrupt and controlled by a lust for power, yet the manifesto nevertheless consists of a series of demands addressed at – whom? Not the people themselves: the indignados do not (yet) claim that no one else will do it for them, that they themselves have to be the change they want to see. And this is the fatal weakness of recent protests: they express an authentic rage which is not able to transform itself into a positive programme of sociopolitical change. They express a spirit of revolt without revolution.”

Report this

By glider, September 20, 2011 at 8:59 pm Link to this comment

Fantastic to see young people understanding the politics of America and responding with protests over what these Corporatist “leaders” are doing to their future.  Theirs is an uphill battle compared to the 60’s and 70’s which had more of a people’s press to help carry the message.  Now the press are largely Corporate stooges, and part of the problem rather than part of the solution.

Report this

By Nick, September 20, 2011 at 8:56 pm Link to this comment
(Unregistered commenter)

Amy, first off….get the facts straight…it was 2,000 protesters, it was about 200-300 protesters.

And they arent the 99 percenters…. they are the bottom 50% who dont pay any income taxes.

Report this

By The Stranger, September 20, 2011 at 8:20 pm Link to this comment
(Unregistered commenter)

Big B’s comment sets a frightening precedence here and should be removed for promoting unjust violence and hatred.  Its blatant violent, anti-Christian, persecution and terror has NOTHING TO DO WITH occupy wall street or its goals.  What do mega churches have to do with corporate influence on politics???  Churches are BARRED FROM FREE SPEECH in the US if they want to keep their “tax-exempt” status.  They are DISALLOWED from speaking into the political arena or promoting candidates.  NOT SO WITH UNIONS or CORPORATIONS.  Unions, by the way, do NOT represent WORKERS.  They represent the greed of union leadership only.  Destroying the innocent only HURTS a cause.
Big B is most likely a government/corporate TROLL attempting to undermine the occupation.
Liberty!

Report this

By Litl Bludot, September 20, 2011 at 8:12 pm Link to this comment

So, here’s where to start to get someone other than the covert corporate fascist Obama, and the overt fascists of the Republican party.

http://www.singlepayeraction.org/blog/?p=3032

Report this

By Anna, September 20, 2011 at 6:31 pm Link to this comment
(Unregistered commenter)

Did you get your interview with David Graeber on video?  His viewpoints on this protest could probably fill a small book, and I bet it would be interesting.

Report this

By Big B, September 20, 2011 at 6:03 pm Link to this comment

while I am avid believer in peaceful, non-violent protest, one must remember that it took Ghandi and his followers nearly 40 years to end british rule. Full well knowing that americans have the attention spans of mayflys, what are the odds that any amount of protests would be successful in bringing down our corporate oligarchs?

Besides, we as a nation, and the world as a people, don’t have 40 years this time. With the coming climate crisis and resource depletion, we are about 15 to 20 years from a major upheaval.

My point is simple, we need radical change, NOW. That radical change may have to include the occasional act of civil disobedience, and it will probably have to include a few corporate headquarters set ablaze. And a mega church or two.  Make no mistake, the corporations and their well paid minions are in this to win it. Its time liberals realize that.

Report this

By Doug, September 20, 2011 at 5:56 pm Link to this comment
(Unregistered commenter)

I respect these people who are there in this demonstration. Unfortunately, nothing is going to change..the rich will just keep getting richer, and the poor poorer. The middle will tread water at best. The banks control our government. The government forgave the banks, even helped them out, then the banks went out and foreclosed on those who were struggling. The strong will always prey on the weak, whether it’s on the plains of Africa, the streets of Los Angeles, the jails and prisons, or our friends on Wall Street. Our 401Ks are about as safe with them as Bambi is in the serengeti.

Good article though, it is nice to be able to read an article which tells the truth, even though it is grossly unfair.

Report this

Page 2 of 2 pages  <  1 2

Newsletter

sign up to get updates


 
 
 
 
Join the Liberal Blog Advertising Network
 
 
 
 
 
 
 

A Progressive Journal of News and Opinion. Editor, Robert Scheer. Publisher, Zuade Kaufman.
© 2013 Truthdig, LLC. All rights reserved.