Sunday, October 16, 2011

President Obama to co-opt Occupy Wall Street movement?

Despite missing an historic opportunity to institute real financial reform in 2009, The Washington Post is reporting that "Obama plans to turn anti-Wall Street anger on Mitt Romney, Republicans."

From the Post's article:

President Obama and his team have decided to turn public anger at Wall Street into a central tenet of their reelection strategy.

The move comes as the Occupy Wall Street protests gain momentum across the country and as polls show deep public distrust of the nation’s major financial institutions. ...

... Obama aides point to recent surveys that show anger at Wall Street spanning ideologies, including a new Washington Post-ABC News poll in which 68 percent of independents and 60 percent of Republicans say they have unfavorable impressions of the big financial institutions.

But the strategy of channeling anti-Wall Street anger carries risks. Many of Obama’s senior advisers have ties to the financial industry — a point that makes Occupy protesters wary of the president and his party. ...

... And many on the left have attacked Obama and his administration for its ties to Wall Street, arguing that the financial regulatory overhaul fell far short of an industry makeover that many critics believed necessary.

Much of his top economic team has roots in the financial services industry, and in recent months [Chief of Staff William] Daley and top campaign aides have devoted much of their time [to] improving the relationship with big-dollar donors on Wall Street. ...

To be fair, it should be noted that Republican candidates also have relationships with "big-dollar donors on Wall Street."

The Post's article notes that President Obama has been critical of Bank of America for its plan to collect $5/month for the use of a debit card; however, with or without its plan, that bank will remain a sick bank. The Democratic national convention will be held in Charlotte, North Carolina, headquarters of Bank of America.

BBC has a story about the Occupy Wall Street movement becoming a global movement: "'Occupy' protests at financial crisis go worldwide." The article notes, 'Witnesses blamed attacks on cars and businesses on a small number of masked militants, dubbed the "black blocs" because of the colour of their clothes.' This post's photo (taken in Rome) was obtained from that story.

Update: This morning, there is an AP story, "From Florida to Alaska, thousands join NYC protest against corporate greed," (via Washington Post (with slideshow)) about OWS developments.

Update: AlterNet has a story: "Andrew Breitbart's Pathetic Attempt to Smear Occupy Wall St."

Update: The Daily Beast has "Anarchists Hijack Rome Protests," which has some more information about the "black bloc."

Update: OccupyWallStreet has a definition of a "black bloc." OccupyWallStreet's website is here.


Anonymous said...

What is this about? Are you campaigning to be the next right-wing nut job site?

Please explain how/when/how the President is going to co-op OWS?

Joie Vouet said...

Sammy, OWS can not be turned into a Democratic Party movement.

See also this post's excerpt from the Washington Post about Obama's team attempting to capitalize on OWS, if not co-opt it. It isn't possible.