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In New York City arrested more than 700 demonstrators PDF Print E-mail
Sunday, 02 October 2011 11:58

According to news agency Reuters, the New York Police on Saturday detained more than 700 people, which tried to block traffic on the Brooklyn Bridge to protest the actions of major U.S. financial institutions, which, according to demonstrators, led the U.S. to the economic crisis.

As reported the representative of the New York police, the demonstrators were arrested for obstruction of road transport on the Brooklyn Bridge, disturbing public order in the streets of New York, as well as resistance to the New York Police arrest since demonstrators did not obey the demands of the New York Police remain in a pedestrian area near the bridge and stay on the roadway. As a result of the actions of the protesters, traffic on the Brooklyn Bridge was blocked for several hours, and more than 700 demonstrators on the Brooklyn Bridge received a summons and notice. Received judicial notice, which was the majority, soon after arrest were released.

According to eyewitnesses, the protest in front of the demonstrators were seen actress SUSAn Sarandon and filmmaker Michael Moore, expressing their sympathy for the demonstrators. Thus, this time can say, that the protests joined by prominent public figures, whose participation in these actions can serve as an occasion to spread more information about the aims and objectives of the "Occupywallstreet".

Also during this time, the size of the protests began to increase, a protest demonstration was also held in Boston in front of the Bank of America, where 24 demonstrators were also detained by local police for disturbing the road transport on the roadway and disorderly conduct.

Since mid-September 2011, protesters created a tented camp near the New York Stock Exchange and since then regularly demonstrate and opposing of the "financial terrorism" of the leading U.S. financial institutions. According to the demonstrators, they represent 99% of Americans and unite people of different races.

Currently, the demonstrators are on the streets of New York with the slogan "Money for public health, not for corporations" and "Taxes for the rich". The main protesters are young men, shouting their slogan: "Occupy Wall Street all day, all week."

The "Occupywallstreet" first became known from the publication in the newspaper «Adbusters» on June 13, 2011, which began gathering of protesters in New York following the example of 15M in Spain, which were previously "occupied" Sol square in Madrid.

«Adbusters» - is a newspaper whose headquarters is located in Vancouver, Canada. In recent years, the publications in the newspaper «Adbusters» attracted public attention with his articles and satirical commercials against the cult of consumption. Among other requirements of the newspaper «Adbusters»: the U.S. refUSAl of most of its military bases, stationed around the globe, restoration of Glass-Steagall Act, the organization of the fight against Wall Street, referred to as "financial Gomorrah of America." Although other actions of protesters from Occupywallstreet are largely nature of propaganda, special attention should be given their demand for restoration of the law Glass-Steagall Act, which is far thirties already helped the U.S. to cope with a major financial crisis.

Glass-Steagall Act (Glass-Steagall Act of 1932), which was adopted in February 27, 1932 in the form of making the temporary amendment to Section 16 of the U.S. Federal Reserve, required separation of investment operations of banks with deposit and lending operations of banks. After entering into force of this Act, U.S. banks engaged in securities trading, it was forbidden to engage in their placement. The authors of the law believes, that it is the investment activities of U.S. banks in 1920 and caused the stock market collapse and the Great Depression in the United States.
And for the opinions of the authors, there is good reason, since before the Glass-Steagall Act, banks in the speculative fever, invest their assets in securities that significantly increases the risk for commercial and savings depositors of these banks in case of sharp declines in stock market.
After the Glass-Steagall Act, U.S. banks were deprived of the possibility of "blow bubbles", so can say, that it is the Glass-Steagall Act provided the solution of the crisis in America's real economy by redirecting investment flows from the sphere of financial speculation in the manufacturing sector of the U.S. economy.

However, on November 12, 1999, U.S. President Bill Clinton signed Grammy-Leach-Bliley Act, who filmed all the significant limitations that Glass-Steagall Act imposed on U.S. financial institutions.

Therefore, the main purpose of the protesters are right, only it is unlikely that they will be able to change something, as reported in the U.S. press, the largest U.S. banks spent more than U.S. $ 10 billion to lobby for the removal of restrictions imposed by Glass-Steagall Act.
 


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