Occupy Wall Street

Being that my dad works on Wall Street, this topic is something I can relate to on more of a personal level. I asked my dad for his reaction to what was happening and he responded with this -

"Many people throughout the world and the country are frustrated.  There are many people who are unemployed or underemployed.  Wall Street has been vilified by many politicians (mainly Democrats) blaming the actions of the banks and investment banks as completely responsible for the global economic woes the world faces today.  While Wall Street clearly deserves its share of blame, poor political policies (encouraging everyone to own a home), central bank policies and irrational decisions on the part of many individuals (buying homes and other large ticket items when it was clear their income could not possibly support those purchases) are equally responsible.  The problem with society today, is everyone wants a scapegoat or someone else to blame.  No one wants to admit to their own mistakes or focus on developing solutions.  It is easier that way.  For the protesters - "Wall Street" is an easy, convenient target.  However, What will their protesting achieve?  Will it result in additional regulations that are already costing the banks billions and billions of dollars in additional costs and hampering their efforts to increase lending? Notice how Bank of America as a result of these increased costs plans to lay off tens of thousands of workers.  Ask those people who are now newly without jobs if protests such as these are helpful.
What the country needs right now is not protests crying about yesterday.  Today, we need political leadership to work together to help figure a way out of this mess.  Better the protestors sit in front of the White House or Congress and protest the political establishment for failing to overcome paritsan views and start crafting solutions for a meaningful way forward."

It's hard for someone who sees these effects take place and knows that these actions can effect them directly.   I remember when this recession first started, my dad was working at a company called Bear Sterns.  When that business completely went under everyone was left unemployed.  My dad was lucky enough, (extremely lucky) to have found a job else where.  Now working at JP Morgan, my dad was able to respond to this "occupy Wall Street" from his own experience.  I agree with my dad when he said that people are looking for a way out, or someone else to blame.

Especially now, money is mostly a sore subject for most people, leaving people in a lot of tough situations and no one wants to be blamed for being in that situation.  As my dad said though, the protest has already caused tens of thousands of people to lose their jobs so it is obvious that this protest is not being responded to in the way people had hoped it would be.  It is a tough situation all around and I just think that within time we will find our way out of it.