Thoughts on the Occupation
I like to think of myself as a social democrat and capitalist. In practical terms, this means that while I like to watch CNBC and read the Wall Street Journal, I also recognize that people power needs to balance the influence of corporate interests for social democracy and capitalism to coexist. Thus, I am all in favor of the Occupy Wall Street movement. While I suspect that Goldman Sachs is far from surrendering, it’s a good thing for the captains of finance who brought us the financial crisis of 2008-? to see some menacing looking folks who look like they wouldn’t mind hanging the Lords of Finance from their ties off the Brooklyn Bridge.
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I agree Barak and its nice to read your thoughts on the issue. To a degree I think that just about any civil show of displeasure in the US is a good thing.
Well, it’s been there in the Tea Party. What stands out in the US is that unlike in Europe where protests have been coming from the left and the right over the past few years, in recent US history, only the latter has been protesting.
In my mind the most compelling argument in support of the movement is that our government socialized the financial losses while continuing to allow the industry to privatize the financial gains. If our society, through taxation, is put in the position of being collectively responsible for ensuring an operational financial industry, we are also then responsible for holding that industry to account.
Well said. It is reasonable to understand why I might object to covering your gambling losses if you get to keep the gains.