Reviving the hygiene and work ethic of Woodstock, the Occupy Wall Street (OWS) crowd metastasizes throughout the country. Chanting mantras “tax the rich,” decrying “corporate greed” and espousing entitlements galore; nationwide the squatters have defaced public property, disrupted traffic, blocked bridges, prompted arrests and caused increasing alarm for sanitation issues.
Citing their damaging the park and violating a city ordinance which prohibits such overnight gathering, Mayor Kasim Reed told the newfangled Atlanta chapter occupying Woodruff Park they have until Monday to leave, but just backed down.
Atlanta Journal-Constitution reports nearby residents’ reaction to OWS Atlanta:
‘It’s really annoying,’ Katelyn Caccavale, who lives across the street from Woodruff Park, told Channel 2. ‘Our walls are paper thin, so every night, we hear them screaming and yelling and banging their bongos.
Noteworthy is the rabble’s most high profile sympathizer, President Obama, who last week in a news conference said of OWS:
I think it expresses the frustrations that the American people feel. That we had the biggest financial crisis since the Great Depression. Huge collateral damage all throughout the country, all across Main Street… And yet, you’re still seeing some of the same folks who acted irresponsibly trying to fight efforts to crack down on abusive practices that got us in this problem in the first place.
If it’s Wall Street he’s vilifying, Obama conveniently omits how the financial sector donated more to him than any political candidate in the last 20 years, for his 2008 campaign. Forbes reports this money comprised 21 percent of his fundraising dollar. It’s even upped the ante for his re-election campaign; Wall Street thus far contributed one-third of the money raised for Obama 2012.
The OWS crowd could be considered “useful idiots” for the left seizing power, as already evidenced by left-wing billionaire George Soros seizing upon the OWS movement to push Obama’s tax agenda; which would protect his uber-wealthy supporters but burden the lower and middle class. Obama may pay lip service to the OWS ruffians, but behind the scenes he’ll protect his powerful backers.
Ironically but inevitably, it’s liberal policies which largely brought about the 2008 financial meltdown which trickled down to instigating these protests. As Judd Gregg writes in The Hill,
The primary driver of the fiscal disruption we experienced at the end of 2008 was not greed or excessive speculation or even fraud in the lending markets. It was not the explosion of syndications of mortgage loans or the use of derivatives to try and insure inherently unstable assets. It was not regulatory somnolence… Rather, this crisis, with its ensuing international recession and near-meltdown of our financial system, had as its root cause the social-justice agenda of Congress.
These disastrous social justice policies are a Democrat trope. It all started decades ago, with Jimmy Carter and later Bill Clinton, pressuring banks to give risky, unconventional loans to people who couldn’t afford mortgages. These dubious credit standards begat subprime mortgages which led to the housing bubble, which subsequently burst. Once rates adjusted up and buyers could no longer afford them, the foreclosure crisis ensued. These mortgages being backed by risky securities was a primary nexus in the Wall Street financial meltdown; bad loans having been bundled, sold into and spread throughout the financial markets like a cancer.
Obama himself bears direct accountability from his activism for the Association of Community Organization for Reform Now (ACORN).
Stanley Kurtz writes in National Review Online:
Obama was intimately familiar with the battle to undermine America’s credit standards, and in full philosophical sympathy with it. It took a one-two punch of Alinskyite intimidation and federal regulatory pressure to create the preconditions for the subprime crisis of 2008, and Obama was on board for all of it. Yet he managed to convince the country… that the real problem was the lack of regulation.
In a steadfast effort to prevent the impending crisis, Republicans (including then President George W. Bush) tried to impose regulation on the chief purveyor of such ill-advised lending practices, Fannie Mae and Freddie Mac. They were met by dogged resistance by Democrats. Former Senate Banking Chairman Sen. Chris Dodd (D-CT) and former House Financial Service Chair Rep. Barney Frank (D-MA) insisted that the subprime mortgage industry was going swimmingly with Fannie and Freddie at its helm. Both were in charge of overseeing ethical lending practices. Instead they looked the other way and took sweetheart deals while their own rigging helped collapse the financial markets.
Rep. Maxine Waters (D-CA) praised the “outstanding leadership” of Fannie Mae CEO (and Obama advisor) Franklin Raines, even on the cusp of Fannie and Freddie’s own massive collapse. Raines made $91.1 million over the six years he manipulated earnings at Fannie Mae.
Doubtful that Raines will be one of the millionaires whose homes have been targeted for marches by the OWS protestors. The Associated Press reports that these protestors in New York City have already racked up nearly $2 million overtime charges for police required to monitor their shenanigans.
A sliver of the OWS protestors criticize Obama, but it’s nearly impossible to imagine any of them voting GOP in 2012.
Referring to one of many big government initiatives created to respond to the crisis, (created by big government) Gregg writes:
It was structured by a group of Harvard thought police for the benefit and intellectual entertainment of the left and is led by people who do not believe in markets, entrepreneurship and especially profit as prime motivator of America’s success.
Sounds like the OWS crowd. It’s bemusing to ponder if they have any idea they carry the same mindset that brought about what they’re protesting.