Today's LA Times: Can Occupy Wall Street turn protests into policy changes?

[CaliforniaPeggy]

This is a long, but very worth-while read from Michael Hiltzig. A lot of historical perspective along with what's happening on Wall Street and elsewhere, today.

By Michael Hiltzik

October 12, 2011
How do you know when a protest movement is starting to scare the pants off the establishment?

One clue is when the protesters are casually dismissed as hippies or rabble, or their principles redefined as class envy or as (that all-purpose insult) "un-American."

Nothing shows that as powerfully as the reaction to the Occupy Wall Street protests that have spread from the financial district in lower Manhattan to cities nationwide, including Los Angeles. Conservative politicians have condemned the Occupy Wall Street protesters as "mobs" supporting the "pitting of Americans against Americans" (Rep. Eric Cantor, R-Va.) and proponents of "class warfare" (GOP Presidential hopeful Herman Cain, who also hung on them the "anti-American" label).

On the other side of the aisle, Democrats are expressing support, if gingerly thus far, for the anger against the financial industry underlying the new protests: "People are frustrated, and the protesters are giving voice to a more broad-based frustration about how our financial system works" (President Obama) or "I support the message to the establishment…that change has to happen" (House Minority Leader Nancy Pelosi, D-San Francisco).

Progressives plainly hope that Occupy Wall Street will help give concrete form to a political narrative that so far has remained abstract in the public mind: That the financial industry has so far gotten a pass on its responsibility for the 2008 crash and escaped sufficiently stringent regulation, while government assistance to banks and Wall Street firms has left consumers in the dust.

But moving from protest to policy is the hardest leap that grass-roots organizations face, akin to turning a promising patent into a billion-dollar business. Occupy Wall Street is just now entering that very difficult, and very interesting, phase.

The rest at the link:

http://www.latimes.com/business/la-fi-hiltzik-20111012,0,114761.column

[City Lights]

1. Great read. Thanks, Peggy!

Rec'd.

[CaliforniaPeggy]

2. Thank you, my dear City Lights!

I'm glad you enjoyed it.

It is so informative!

[City Lights]

3. I especially liked the paragraphs discussing how the banks created the conditions

that screwed everything up and are now squawking that the minor regulatory changes are hampering their efforts to do business, while they continue to post huge profits. I considered posting them, but didn't want to violate the copyright rules. Really paints the banks in an ugly, but truthful light!

:hi:

[CaliforniaPeggy]

4. Those were especially good!

Hiltzig really nails them.

:hi:

[gratuitous]

5. Will there be policy changes?

That is, of course, up to the folks in the corridors of power. If they don't change the policies, they may not remain in those corridors for much longer.

[CaliforniaPeggy]

6. I hope there will be.

And if not, well,then, vote the bastards out...

[leftstreet]

7. "The banks got bailed out, we got sold out."

Thanks for posting this. Well worth the read

K&R

[jwirr]

8. Democrats are going to keep pushing the jobs bill by breaking it

up into smaller bills. It would seem to me that would be a good opportunity for action from protesters to demand that congress get it together on parts of the bill. Not the whole bill because I think it is another compromise but if there is something they see that they really like maybe it is time to see how much power we the 99% actually have.

[H2O Man]

9. Recommended!

Thank you for this! It is very much appreciated ..... just as you are.

[CaliforniaPeggy]

11. What a nice thing to say, my dear H20 Man...

Thank you.

[kentuck]

10. Thanks for the link!

I was thinking along similar lines:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x2103795

[CaliforniaPeggy]

12. You're welcome, my dear kentuck!

Indeed you were. And you wrote yours...I just copied and pasted. I don't have your writing skill, alas...

I want to see your thread on the Greatest Page too...

[kentuck]

13. You do well, Peggy...

Very well, in fact. :-)

[Tierra_y_Libertad]

14. Crumbs will be thrown after the tear gas runs out and the politicians get frightened enough. K&R

[Admiral Loinpresser]

15. Thank you Peggy. And Lori says "Hi." n/t

[CaliforniaPeggy]

16. You're most welcome!

Glad you enjoyed it...

Hi back atcha both!

:hi: