The Blame GameOctober 13, 2011 —
I am all for action. I believe in standing up and attempting to do all I can to enact change when I see something wrong. In fact the writers of the Declaration of Independence entreated us to throw off the mantle of an overbearing government or leaders. It is the responsibility of all those able to change a government that no longer serves the people it governs.
So why are we occupying Wall Street? Wall Street, really just a symbol for the financial industry, did exactly what it was supposed to. At its base the financial industry is a group of men investing for a profit. Banks are for profit ventures designed to make as much money as possible just like any other company or industry. In fact with the religious devotion to capitalism and the demonization of socialism in this country, shouldn’t we be praising the financial industry’s ability to make outrageous amounts of money? They did what capitalists are supposed to and that is to make money assuming that through competition their success would lead to success for all. Does this increase the gini coefficient of the United States? Are the rich getting richer and the poor getting poorer? Yes, but correcting that is not the responsibility of the financial industry. Their job is to make money.
The body usually charged with creating a semblance of equality and preventing one group from exploiting the other is the government. They are handicapped though in that anyone who proposes more regulation is labeled a socialist and against economic expansion and therefore unelectable. So the government is handicapped by the voters. So Wall Street is doing what it’s supposed to because they are not regulated by the government; the government can’t regulate to allow for equality because of the backlash from the voters. So who is really to blame for the problems with Wall Street?
Writers Note: This represents somewhat of an oversimplification but I believe its fundamentally sound. More about this later.