Chicago Indymedia :
Chicago Indymedia

Commentary :: Labor

Five Things That #Occupty Wall Street Did Right

"Few institutions in our society are more in need of condemnation than the big banks and stockbrokers based where the critics are now camped. “Why are people protesting Wall Street?” For anyone who has lived through the recent economic collapse and the ongoing crises of foreclosure and unemployment, this question almost answers itself."
"Notably, young protesters have been able to convey the idea that their generation, in particular, has been betrayed by our economy. This idea was picked up in remarkably hard-hitting commentary at, which reads like more like something you’d expect to find in the socialist press than on a business website:

[A]sk yourself how you might act if you were in school or fresh out of it or young and unemployed. What future has Wall Street, the heart and brain of our capitalist country, promised you? How does it feel to be the sons, daughters and grand kids of a “me” generation that’s run up the debt and run down the economy?

Unemployment is between 13% and 25% for people under 25. Student loans are defaulting at about 15% at a time when more young people have no alternative but to borrow to pay for school.

Meanwhile, Wall Street bonuses continue to be paid at close to all-time highs. Lloyd Blankfein, the chief executive of Goldman Sachs Group Inc. (NYSE:GS), took home $13.2 million last year, including a $3.2 million raise.

Such a message resonates with many, and protesters did something important to attract them..."

to read Mark Engler's article published in: Dissent magazine, September 29, 2011, click on



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