Sunday, October 23, 2011

Why Occupy Wall Street? Here's Why...

Elizabeth Warren, Democratic challenger to Senator Scott Brown (R-MA), provides introductory comments in the following powerful video on factors that gave rise to Occupy Wall Street. Warren first speaks about the regulations that gave us 50 years of relative financial stability: Glass-Steagall, FDIC Insurance and SEC regulations. She then recounts the crises that should have warned us that the deregulation initiated by Reagan was a huge mistake. The video continues with excerpts from hearings exposing the dangers of speculative financial activity, plus comments on the Supreme Court's lifting of limits on corporate campaign contributions. After all of these inequities, a new movement took to the streets across the nation. Watch:

2 comments:

Michael The Molar Maven said...

According to Wall Street, there is no social contract becuase "greed is good".

Jeff Tone said...

Since corporations are amoral, we should not deregulate them under the assumption that no controls will result in the common good.