Economic inequality protests spread across US
Source: Agencies |
October 8, 2011, Saturday
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Print Edition
Print Edition
PROTESTS that began in New York against US economic inequality spread across America on Thursday as the growing movement found unlikely support from a top official of one of its targets - the Federal Reserve.
The Occupy Wall Street movement was sparking rallies in Austin, and Houston, Texas; Tampa, Florida; Washington; Trenton and Jersey City, New Jersey; Los Angeles, California; Las Vegas, Nevada; and Philadelphia.
Protesters gained some support from Dallas Fed President Richard Fisher, who told a business group in Fort Worth, Texas, "I am somewhat sympathetic - that will shock you."
The Fed played a key role in a protest target, the 2008 Wall Street bailout that critics say let banks enjoy huge profits while average Americans suffered high unemployment and job insecurity.
"We have too many people out of work," Fisher said. "We have a very uneven distribution of income. We have a very frustrated people, and I can understand their frustration."
US President Barack Obama also acknowledged the frustration of the protesters on Thursday.
"People are frustrated and, you know, the protesters are giving voice to a more broad-based frustration about how our financial system works," Obama said at a news conference in Washington.
"This is the beginning," said John Preston in Philadelphia, business manager for Teamsters Local 929. "Teamsters will support the movement city to city."
Up to 1,000 people gathered to protest in Philadelphia, and hundreds turned out in Washington and Houston. Rallies in Chicago, San Antonio and Austin attracted dozens of people.
In Philadelphia, protesters chanted and waved placards reading: "I did not think 'By the People, For the People' meant 1 percent," a reference to their argument the country's top few have too much wealth and political power.
Tim Lucas, 49, vice president of a software company who was protesting in Austin, said: "I'm fed up with the government, I'm fed up with the bailouts. If I fail at my job, I don't get a bonus - I get fired."
In Los Angeles, 200 protesters squeezed into the lobby of a Bank of America building.
About 5,000 people marched on New York's financial district on Wednesday. Dozens of people were arrested. On Thursday, a few hundred protesters milled about near Wall Street, but there were no apparent plans for another march.
In Washington, protesters carried signs that read: "Human Needs, Not Corporate Greed" and "Stop the War on Workers."
The Occupy Wall Street movement was sparking rallies in Austin, and Houston, Texas; Tampa, Florida; Washington; Trenton and Jersey City, New Jersey; Los Angeles, California; Las Vegas, Nevada; and Philadelphia.
Protesters gained some support from Dallas Fed President Richard Fisher, who told a business group in Fort Worth, Texas, "I am somewhat sympathetic - that will shock you."
The Fed played a key role in a protest target, the 2008 Wall Street bailout that critics say let banks enjoy huge profits while average Americans suffered high unemployment and job insecurity.
"We have too many people out of work," Fisher said. "We have a very uneven distribution of income. We have a very frustrated people, and I can understand their frustration."
US President Barack Obama also acknowledged the frustration of the protesters on Thursday.
"People are frustrated and, you know, the protesters are giving voice to a more broad-based frustration about how our financial system works," Obama said at a news conference in Washington.
"This is the beginning," said John Preston in Philadelphia, business manager for Teamsters Local 929. "Teamsters will support the movement city to city."
Up to 1,000 people gathered to protest in Philadelphia, and hundreds turned out in Washington and Houston. Rallies in Chicago, San Antonio and Austin attracted dozens of people.
In Philadelphia, protesters chanted and waved placards reading: "I did not think 'By the People, For the People' meant 1 percent," a reference to their argument the country's top few have too much wealth and political power.
Tim Lucas, 49, vice president of a software company who was protesting in Austin, said: "I'm fed up with the government, I'm fed up with the bailouts. If I fail at my job, I don't get a bonus - I get fired."
In Los Angeles, 200 protesters squeezed into the lobby of a Bank of America building.
About 5,000 people marched on New York's financial district on Wednesday. Dozens of people were arrested. On Thursday, a few hundred protesters milled about near Wall Street, but there were no apparent plans for another march.
In Washington, protesters carried signs that read: "Human Needs, Not Corporate Greed" and "Stop the War on Workers."
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