Discover Yahoo! With Your Friends

Explore news, videos, and much more based on what your friends are reading and watching. Publish your own activity and retain full control.

To get started, first

YOUR FRIENDS' ACTIVITY

    The Week

    What the Wall Street protests will accomplish: 3 theories

    Demonstrators try to call attention to bankers' misdeeds with a sit-in at the heart of the financial world. Will anyone listen to them?

    The "Occupy Wall Street" protest entered its third day on Monday, with organizers at the counterculture website Adbusters saying the demonstrators represent "the 99 percent that will no longer tolerate the greed and corruption of the 1 percent." A heavy police presence kept the protesters, who numbered several thousand at the peak of the weekend's rally, off Wall Street itself. Instead, demonstrators gathered in a nearby park demanding reforms to keep a financial meltdown from happening again. What will they accomplish? Here, three theories:

    1. Nothing. This is utterly meaningless theater
    Thanks to strategically placed barricades and "a solid wall of NYPD officers," this rag-tag group of "Marxist-Anarchist protesters" didn't come close to occupying Wall Street, says LaborUnionReport at RedState. Indeed, "there were nearly as many tourists gawking as there were protesters." This "non-event was more akin to a concert in the park" than a watershed protest.

    2.The protests are bringing the world's attention back to Wall Street reform
    "Bravo to those courageous souls in the encampment on New York's Liberty Street," say Micah White and Adbusters editor Kalle Lasn at Britain's Guardian. Their message resonated far beyond Lower Manhattan. "There is a shared feeling on the streets around the world that the global economy is a Ponzi scheme run by and for Big Finance," and if politicians don't start doing something, expect more and more of these tent cities of protesters to pop up.

    3. This is a test of how Arab Spring tactics work in the U.S.
    Many of the protesters took their inspiration from the Arab Spring, says Sarah Lai Stirland at Talking Points Memo. "They say that they plan on camping out around Wall Street for months until President Obama forms a commission to address their concerns," and they're using Twitter to summon more demonstrators in lower Manhattan and in cities around the world. Time will tell whether these Tahrir Square methods are effective stateside.

    View this article on TheWeek.com Get 4 Free Issues of The Week

    Other stories from this topic:

    Like on Facebook - Follow on Twitter - Sign-up for Daily Newsletter

     

    24 comments

    • sally  •  8 mths ago
      Protest the same way you would fight on Okinawa or Tora Bora-communications,masks,cs filters,helmets,boots,bayonets fixed,backup on the roofs,and under the streets-do it right or stay home.
    • John  •  8 mths ago
      If you really want to protest Wall Street do it with your money. Put your money in credit unions and buy insurance from mutual insurance companies where you are the owner. Take their money away and you take their power away.
    • Don  •  8 mths ago
      Too much lobby money going to Washington for anything to change. We need to make lobbying illegal then Washington can get on with reform.
      • CitationX_N7V11C 8 mths ago
        If you make lobbying illegal than say good-bye to any representation in the Federal government. The AARP, AOPA, NRA, and other organizations that work for the American public that they represent would be unable to help enact any change at all. Our government would be run by selfish and arrogant politicians unaccountable to anyone. We need lobbyists to voice our views.
      • Gary 8 mths ago
        Unfortunately, the only people who can make lobbying illegal are the ones who benefit the most from it. As for representation, may I suggest the such organizations (several of which I am a member of), simply ask their constituents to contact Congress?
    • Harryo  •  8 mths ago
      People know things aren't kosher on wall street, the meltdown should have never happen if the Feds were during their job. Many people should be in prison for what happen but if you know the right people nothing will happen. The system runs on trust and if you can't trust anybody the system will collapse.
    • RALPH W  •  8 mths ago
      What do you call 100 dead Wall Street traders? A good start.
    • Dr. Detroit  •  8 mths ago
      God Bless the protestors! Wall Street has gone far enough. LONG LIVE DEMOCRACY!
    • Gordon  •  8 mths ago
      The only answer is:#1
    • Connect the dots  •  8 mths ago
      I think what they are going is GREAT ! Most americans have such short memories of the trillions of dollars Wall Street bilked out of every retirement fund in america and around the globe that Wall Street will absolutely do it again when they think the timing is right. Remember......."Money doesn't just disapear, it changes hands." And in the case of the financial meltdown the money went from your pockets into their's. Why do you think there are so many mult- multi- millionairs and billionairs made since Bush went into office in 2000, while everybody else flatlined or fell into poverty, lost their home, or job. it wasn't tax cuts alone that surged the money to the top. Republicans say the liesure class's top 1% pay 95% of all the taxes whereas the truth is the top 1% OWN 90% of all the wealth in the country. Somethings wrong with this picture, you know it and so do I.
    • AndrewH  •  8 mths ago
      Wall Street just hired the cops to clear them out.
      • Smegma Santorum 8 mths ago
        at least they pay taxes, unlike the unemployed protesters
    • Doug S  •  8 mths ago
      If this is a test on how Arab Spring protests will work in the U.S., it will be a dismal failure. U.S. authorities will not shoot protesters in the streets, thereby creating martyrs and boosting the protesters' cause.
    • cha cha bling bling  •  8 mths ago
      Arab spring not! Ghandi, 60's anti-war protests, sit-ins all aver the South for civil rights
    • Gary  •  8 mths ago
      Ooooo, a commission! I tremble!
    • DJM  •  8 mths ago
      Hopefully this will lead to some concrete changes in the banking and investment industry.
      • A Yahoo! User 8 mths ago
        Silly and naive.......you will have a hard life
    • Jedi Master Mhathan  •  8 mths ago
      May the Force be with you.
    • Why  •  8 mths ago
      Cuba tells America don’t tell me what to do; your government is worse than ours. In Cuba the Castro family runs the Government. In America a greedy Wall Street runs the government.
    • frank  •  8 mths ago
      By not enforcing regulation and providing stringent oversight, congress (all of them) are complicit to fraud and criminal acts. Congress will, of course, deny responsibility and offer up political excuses. But the truth remains that not enough of our representatives are doing their jobs. There should be a strict no tolerence attitude with serious consequences. The Wall Street demonstration was misdirected and reflects poorly on the miniscule group of wannabe commies ...as evidenced by the small crowd. People saw right through the charade.
    • Larry Dickson  •  8 mths ago
      Gwawr, the plan to reform it is in John Medaille's book "Toward a Truly Free Market." The runaway abstraction and concentration of ownership that Wall Street calls "capitalism" is really the same as socialism.
    • gwawr  •  8 mths ago
      Protest is all fine and good BUT unless these protestors actually some kind of plan to help reform it, it won't do any good. Okay, protest that it's wrong, unfair, corrupt, etc, but without some kind of plan to help reform it, what good is it then?
    • A Yahoo! User  •  8 mths ago
      Protesters without AK 47s will accomplish nothing
    • Elle  •  8 mths ago
      The only thing they are accomplishing is trashing my neighborhood. I hope they leave the FiDi soon.