The Wall Street Movement

Yuli Paula

Social welfare programs & policies

Class # 5307

Instructor: Catherine Minh Doan Vu

2/20/2012The Wall Street Movement

Introduction

The enduring confidence of the American people has been one of this country's defining traits. This confidence had been fueled by the American dream, a philosophy which suggested that everyone in this country could afford an equal chance at attaining success; one need only to work hard and persevere to achieve their dreams. However, recent events have challenged this romantic perception of the country and many Americans now find themselves frightened, frustrated and at a loss about what to do with their lives. The root of this disenchantment comes from a pervasive sense of inequality and lack of social mobility. Americans always believed that the core promise of opportunity provides a chance to anyone committed to improving their station in life. Unfortunately, they now believe that there is a system in place that grants opportunity and wealth only to those who are already wealthy and have the social connections to maintain their status. I believe that it is a system which intertwines the representatives of our government with corporate interests, and in the process denies the ordinary man and women the opportunity to air their concerns. The economic crisis of 2008 perfectly illustrated this lopsided level of influence, when the American government bailed out failed financial institutions to tune of hundreds of billions of dollars but, provided little to no aid for struggling homeowners who were the ones to suffer most from the housing crisis. This failure to protect the interests of the American people touched the wall street occupy movement which protested the gross abuse of trust by those who hold the reins of power in this country. At their core, this movement is protesting against the concentration of power in the hands of the few, but at their core, they represent a serious challenge to the current political order and very well change the way politics were conducted in America.

Discussion

The Occupy Wall Street movement's origin can be traced back to the Canadian magazine called Adbusters. On July 13, 2011, taking note of the lack of accountability for the heads of the large financial institutions for their involvement in the recent global financial crisis, and the growing disparity in wealth between the rich and the poor they called for a peaceful occupation of Wall Street. They sought to harness the energy that had manifested worldwide in the form of the Arab Spring and the anti-austerity protests in Europe, and channel it toward acknowledging, challenging and reforming a deeply corrupt system at home. (Chappel, 2011)

By September of 2011, fledgling protests started to take shape in lower Manhattan, and videos of these demonstrations appeared on the internet. Initial videos showed videos pictures of protesters being harassed by police, one particularly shocking video showed a NY city police officer using pepper spray on a group of young ladies; this only served to engender support and sympathy for the nascent movement. The protests reached critical ...