Occupy Wall Street and Other Cities

There is a movement going on that started on Wall Street.  Wall Street was the scene of some of the biggest bailouts in U.S. history with Bear Stearns being one of the beneficiaries of a government handout.  It seems as though the financial situation must be a little rosier as stimulus money is being repaid.  There was an article in the Philadelphia Inquirer today which referenced the racial diversity of the protesters that are occupying the business districts of various cities. 

In Philadelphia, the movement started with some fanfare but the protesters now need handouts and tents.  I know that there are retirees and seventy somethings that are proud of the current movement.  I am wondering about the intended end result.  Economic change will not come about with just protests.  In a nation of consumers, those that provide services reap the benefits.  Something must be done about the growing wealth gap though.  Some city budgets are beginning to feel the strain of providing extra police protection.  Good luck to the protesters and hopefully their goals of an equitable redistribution of wealth will be accomplished.

In retrospect (October 2012) not much changed as a result of the protests.  Homeless people are still being fed along Ben Franklin Parkway.  The Philadelphia Business Journal's Book of Lists still do not contain may minority firms.  The economy is still in a mini-recession.  The Occupy protesters were talking about getting back together again.  Economic reality dictates that a job might be a more pressing need.

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