Archive for October, 2011

Big Bad Bank

Before the veil of a “good” economy fell off onto an indecipherable puddle of lies and rubble, American’s had some faith left in big banks. After the Great Depression in the 20th century, we looked at implementations by the New Deal with a faint stare of hope, mixed with skepticism at the pseudo-socialist endeavors, but nevertheless, with hope.

Fender Money Clip

Then the economy crashed and the rubble of lies unveiled itself as a grotesque beast threatening the welfare of millions of Americans. Well the whole country, actually. Well…the whole globe, to be frank. But let’s not get overly dramatic here, let’s start with the little things, or big ones: BANKS. Not only were the big bad banks bailed out with American tax payer’s money, but now they’re still crying a river...

The Atlantic Wire reports that “The Wall Street Journal found that 98 banks that had received bailout funds from the Troubled Asset Relief Program are in danger of failing.” Forbes.com reports: “Last week, Bank of America shocked customers when it announced that it would begin charging $5 per month for using their (well, your) debit cards. The fee kicks in beginning 2012 and would apply to debit cards to make purchases but would not apply to ATM withdrawals (those are subject to other fees), online bill payments (also subject to other fees) or mobile phone transfers (may be subject to other fees).

Bank of America isn’t alone. Wells Fargo has made noise about a new $3 per month fee for debit card usage and J.P. Morgan Chase has signaled that they would impose a similar fee.” (ContributorKelly Phillips Erb, Contributor).

Presidential Seal Medallion Coin Money Clips

So after all of our loyalty, our bail-outs, our sympathetic but silently out-raged stares in the face of these money giants, they are asking for MORE money?? I’m sorry, but something is wrong here–definitely wrong. As a society we have moved away from the paper fixated world (this is apparent in the fad of e-books as well) and as soon as we are dependent upon “technology” for cash, we have to pay extra for it. We are forced to use our “debit” or “credit” cards for everything from making a plane reservation to ordering take-out food online. We have grown so accustomed to using plastic for everything that most Americans don’t even carry paper money around anymore.

Shredded Money Cufflinks

So we gotten with the game, so to speak, used our plastics proudly, and now we’re being charged extra for it…they’re telling you “Take out all your cash once a month, to avoid an extra $5 fee.” or simply “Use your credit card and get charged the extra APR and fees that go along with it.” For all of you non-mathematicians out there, the $5 monthly debit fee adds up to $60 per year, just to use your plastic. Not cool man, not cool. (For those of you interested in boycotting said institutions, please refer to previous Occupy Wall Street blog.)

To make a very complicated sob story short, Bank of America and others, have got us by the Ball and Chain:

Ball And Chain Cufflinks

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A Revolution is at Hand

Occupy Wall Street has been going on for weeks now (since September 17th to be precise), gaining the attention of millions through social media sites and limited National media attention. At first it seemed as if news channels scoffed at the perceived “feeble” attempts of left-wing liberals to protest the greedy corporations that led us to an economic future with no future. That’s the thing with protests: first they are ignored, then scoffed at, then finally, taken seriously. And this 20-something educated generation is now looking at their massive college debt and employment rejections and noticing…something just isn’t right.

Wall Street

The generation primarily conducting these now global protests are the so-called “apathetic” generation: the social media, internet obsessed, cell phone era, post-radical civil rights movements kids. Now it seems they’re stepping up and not backing down. What was considered (and expected) to be a short-lived attempt at protest has now gained global attention, using social media as a tool in spreading the language of non-violent protest.

“Occupy Wall Street is leaderless resistance movement with people of many colors, genders and political persuasions. The one thing we all have in common is that We Are The 99% that will no longer tolerate the greed and corruption of the 1%. We are using the revolutionary Arab Spring tactic to achieve our ends and encourage the use of nonviolence to maximize the safety of all participants.”

The Christian Science Monitor says, “As the movement spreads, political analysts and social scientists are asking whether this is the sort of social unrest that emerges only in hard economic times and recedes in better days, or is a sign of a new political movement emerging on the American landscape.”

“The movement has also attracted the attention and support of more traditional liberal organizations, such as organized labor, he notes. This group includes the United Federation of Teachers and the Transport Workers Union, some of whose members defied a New York City police request and refused to bus protesters arrested Saturday for blocking traffic on the Brooklyn Bridge.”

Nobody Can Predict The Moment Of Revolution from ivarad on Vimeo.

Nobody Can Predict The Moment Of Revolution from ivarad on Vimeo.

But it’s not always a sunny day at the protests: over 700 protesters were arrested on October 2nd, 2011 while crossing the Brooklyn Bridge. Some say it was an intentional “trap” by the NYPD to split half the march of protesters, proceed to block them in, and proceed with arrests. The rest of the protesters continued to march over the pedestrian side of the bridge with no legal repercussions.

The New York Times reports: But many protesters said they believed the police had tricked them, allowing them onto the bridge, and even escorting them partway across, only to trap them in orange netting after hundreds had entered.

“The cops watched and did nothing, indeed, seemed to guide us onto the roadway,” said Jesse A. Myerson, a media coordinator for Occupy Wall Street who marched but was not arrested.

Peace Sign Cufflinks

Currently there is a plan for a National Student Walk-Out on Wednesday, October 5th and a Community/Labor March to Wall St against Corporate Greed and the Big Banks** at 4:30pm. The labor march will take place at: NY City Hall (250 Broadway) to Zuccotti Park (map)

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