Monday, October 17, 2011

Occupy Wall Street

Occupy Wall Street is a movement that I support.  I believe the wealth disparity between the top 1% and the bottom 99% is partly due to the 1% having a larger role in controlling politicians.

I urged my state senators to vote against the bank bailout in 2008.  That bailout passed.  Unlike a national election, there is no way of knowing how the popular vote would have gone.  There is also no way of knowing the full repercussions of no-bailout.  I believe financial institutions would have been crushed and would have to rethink self-regulation.  The top 1% have to take some risk to get there and should no longer have the cushion of the bottom 99%.

I am also astonished by the nations two party system.  It creates stability.  However, the money involved is amazing.  Per a CNN website, Obama spent $310M on national ads while McCain spent $135M on national ads.  These ads make a difference.  That is why corporations spend what they do for a Superbowl ad.  $300M may seem like a trivial amount of money.  We spend that in Afghanistan everyday to support the troops.  However, I believe the majority of this money comes from corporations and the top 1% to push their political agendas.  Anybody should be able to spend their money how they want, but when the voice of the 99% is unheard because of a lack of campaign contributions, that is a problem.

Finally, I don’t believe in Too-Big-Too Fail.  I think people need to be responsible for a decision on whom to do business with.  If I choose to save with Lehman Brothers and they go under, I should share that risk.  If I prefer to save with my local credit union and they go under, I should share that risk.  There is a place for regulations.  That place if for the consumer.  Consumers need to be informed about the foods and medications they consume, questionable loan practices and other attempts to defraud.  If the 99% allows a monopoly to be established, then we need to live with it.  If however, we choose to buy local, and create stable local economies we can be empowered.

Occupy Wall Street is directed against corporations and wealth disparity.  I am in favor of corporations and wealth disparity.  However these symptoms expose government run amok.  The 99% is using its best voice with peaceful protests to garner free media attention which highlights symptoms that must be explained.

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