More than 700 “Occupy Wall Street” demonstrators were arrested and handcuffed as they tried to cross the Brooklyn Bridge in New York on Saturday, October 1. The arrests, mostly for disorderly conduct, were videotaped and broadcast on the internet. The NYPD allegedly pepper-sprayed a group of demonstrators earlier in the week, and an investigation was opened.
The protestors have garnered support from celebrities, labor unions, and community organizations, and a visit from New York Governor David Paterson. The demonstrators say they will stay as long as needed to get their message across. According to a New York Times article (“Wall Street Occupiers, Protesting Till Whenever”), while “[t]heir politics zigzag wildly,” the common thread is revulsion against Wall Street greed and corruption, including the undue political influence of Wall Street money.
More demonstrations have sprung up in several cities across the country, including Denver, Chicago and Los Angeles. The protestors, mostly young, many of whom camped out for days, danced on buses with “peace” written on the side, held placards saying “Jobs Not Cuts,” and chanted “Occupy the street.” The scenes are reminiscent of the beginning of the 1960s “David versus Goliath” movement that eventually had a real impact on politics and society. While their effect on financial markets is unknown at this time, they bear watching.
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