Tuesday, January 24, 2012

Wall Street Isn't Winning - It's Cheating

Activists demonstrate outside of the New York
Stock Exchange against Wall Street bonuses,
12/15/10. (photo: Spencer Platt/Getty Images)
By Matt Taibbi, Rolling Stone
26 October 11

I was at an event on the Upper East Side last Friday night when I got to talking with a salesman in the media business. The subject turned to Zucotti Park and Occupy Wall Street, and he was chuckling about something he'd heard on the news.

"I hear [Occupy Wall Street] has a CFO" he said. "I think that's funny."

"Okay, I'll bite," I said. "Why is that funny?"

"Well, I heard they're trying to decide what bank to put their money in," he said, munching on hors d'oeuvres. "It's just kind of ironic."

Oh, Christ, I thought. He's saying the protesters are hypocrites because they're using banks. I sighed.

"Listen," I said, "where else are you going to put three hundred thousand dollars? A shopping bag?"

"Well," he said, "it's just, they're protests are all about ... You know ..."

"Dude," I said. "These people aren't protesting money. They're not protesting banking. They're protesting corruption on Wall Street."

"Whatever," he said, shrugging.

These nutty criticisms of the protests are spreading like cancer. Earlier that same day, I'd taped a TV segment on CNN with Will Cain from the National Review, and we got into an argument on the air. Cain and I agreed about a lot of the problems on Wall Street, but when it came to the protesters, we disagreed on one big thing.

Cain said he believed that the protesters are driven by envy of the rich.

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