rabble on wall street

Before I go on this rant against occupy wall street i’d like to note that I believe that the protestors are correct in the spirit of the protest, that there needs to be a change in wall street, I just don’t agree with how they are going about it.

draw attention to a problem you see [x]

show that you are committed to the protest [x]

have a united goal and solve anything [ ]

For the past couple of weeks there has been a movement to occupy wall street in an effort to change the way wall street works. All over the country there has been ows protest groups popping up to show that the american people are united on this front and are serious about making an effort to reform the economy so that the effort of a few can’t impact the whole economy.

Their biggest problem, like anyone who has the credentials to come up with a solution has found out, is that they don’t have an answer. Without a uniform end goal the protest looks like a bunch of uneducated people who are just complaining and are looking for a handout. Yes the investment bankers on wall street gambled away our economy. Yes the organizations that were supposed to correctly assess the risks failed to do so. Yes there is a very small percentage of people who are making an extraordinary amount of money. But no, sitting on wall street won’t solve the problem. I’m going to take a guess and say that the organizations on wall street don’t really care about the normal person, if they did they wouldn’t make a market selling derivatives. They care about their bottom line. If the protestors made wall street less profitable than they would start to notice.

As a student who knows a little about what goes on in the business world I can’t help but laugh at what some of the protestors are saying. I am sure that those working on wall street are doing the same thing.



This entry was posted in Business, Cases (Real World), Class, Equality, Ethics, For Fun, Government, Social Science, Society and tagged , , , , , , , , , , , , . Bookmark the permalink.

10 Responses to rabble on wall street

  1. ChrisB says:

    I would agree that, besides for the overarching theme of not liking the current economic situation, the protestors don’t seem to have goals or specific issues they want addressed. It seems to me that the protestors haven’t been able to do much except be noise in the background. Business has been moving on as usual and the media doesn’t seem to be pushing the story anymore. I think if the protestors want to make any change then they need to change tact. Continuing to demonstrate in front of Wall Street won’t do anything. After a while it just becomes part of the norm and people start to ignore them. To give an example, I live in nyc and when I went back home for fall break neither of my parents even mentioned the protestors. Protesting doesn’t do much if no one is listening.

  2. katiebaum13 says:

    I agree with both of you. The video clearly showed that many of the protestors don’t really know much about what they are protesting about and are doing it just to protest. A protest will not be successful unless all protestors have common beliefs and a common goal on how to change things. Because no one is really knows why they are protesting and don’t have a solution to change things, people are not listening anymore and their efforts to change things are not going to help.

  3. mike cardinute says:

    It’s easy for people to follow the herd and jump on board to anything that gets national exposure. Whether they no the reasons why doesn’t matter to them; they just know that everyone else is protesting so why shouldn’t I. Maybe they think if they protest, their voices might be heard. Why weren’t there any major protests in 2008 after that huge collapse in the economy? If anything, the economy today is better then back in 2008. I think it is hilarious, especially after the interviewer made that guy feel senseless.

  4. jwhite17 says:

    I completely agree. There should be a reform in the banking system of this country, but I don’t believe that these people have any idea of what that reform should entail. They have no unifying philosophy or educated criticism of the current system. In my view, they are doing what is “cool” at the moment. This is not to say that the spirit of occupy Wall Street is completely out of line, its just that they are going about reform in the wrong manner if they want anything substantive.

  5. Jordi says:

    I don’t really see the connection between the video and the post… were you inspired by it?

  6. Jordi says:

    What would have been a better answer for the student as to why his education should be paid for? Maybe: “Look, we finance debt for future earnings. Wall Street is using government guarantees to finance nothing; they have effectively a 0% borrowing rate. Me and my family can not afford my productive investment in my education. Why is it fair to invest in the banks, but not in our future workers and professionals?” Just an idea.

  7. Jordi says:

    Social movements are always messy and inchoate at times. Inchoate. Look it up. I am not sure it is their job to “have the answer.” Especially at this time. Their role is to draw attention to a problem and mobilize other actors to generate solutions. Like you, oh, educated one. :<)

  8. mnickels says:

    I think the occupy wall street movement is really interesting. I think it’s great that people are taking a stand against what happened with our economy, but I do agree that there doesn’t seem to be an end goal that the protesters really have. If they want to accomplish something, there has to be a realistic goal. Maybe some people are protesting because they just want Wall Street to know that there are unhappy people out there?

  9. JWitty says:

    I’m really glad I found this post. My roommate is very well-informed on the current happenings of Occupy Wall Street. The other day I asked him, “So are they just going to protest and protest and protest? Or is someone going to present a solution?” He laughed me off and made some vague reference to similar protests in the past. While I may be in the wrong here, I would love for someone to stand up and propose an actual solution to the distribution of wealth in the U.S. Saying “Ma! Ma! We’re out of Milk!” doesn’t get you a new jug of milk, after all.

  10. Cander says:

    I thought the video was interesting to hear here in the U.S. When I was in London last fall, there was a huge debate (and protests) about Parliament wanting to raise the tuition for universities (http://goo.gl/FJt3c for some backround). My flatmates and I actually caught a TV debate between MP’s and students and one of the Conservative PM’s flat out asked a student if they wanted the government to pay for their entire education, which the student eventually admitted to.

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