Someone should let those "occupying Wall Street" know that they are protesting in the wrong spot.
What caused the crisis, the indebtedness, the unemployment, the stagnation? The culprits are state agencies and enterprises, including our Federal Reserve (our government’s bank), Federal Housing Administration (FHA), Federal National Mortgage Association (Fannie Mae), and Federal Home Loan Mortgage Corporation (Freddie Mac), which jointly flooded the country with cheap credit and encouraged and subsidized unsound banking and subprime mortgages, all to encourage wider home ownership, paper prosperity, and cozy relationships with their cronies. We got a housing bubble, mountains of unpayable debt, and a financial crisis. Thanks, Uncle Sam.
The Occupiers have the wrong address. The subprime crisis was designed in Washington, not New York.
I really struggle with this Occupy Wall Street, in principal and in how it's being carried out. Our younger daughter walks by it every day in NYC on her way to work and said it's mostly a bunch of pot-smoking dirty hippies who have nothing better to do with their time. (Gosh, I raised her well!!) I realize the world needs protest - it's a good thing, but I agree with you that the energy for this is misplaced.
Posted by: EOS Redux | Tuesday, October 25, 2011 at 05:46 AM