Why the Occupy Movement is More Important than Goldman Sachs

Here is what is commendable about the people who support and run the Occupy Movement: they try to inform themselves of important world events; they take a keen interest in collecting factual evidence; they teach others about what is going on the the world of politics and finance; and they have empathy for those who are suffering because of the financial crisis brought on by the banks.

Occupy has written intelligently about the Volcker Rule and the CFPB rules that are being written to correct the self-regulation enjoyed by banks like Goldman Sachs. The following article may have a few small errors in it but it is a fine example of the manner in which Occupy works.

Why Greece Matters to the Occupy movement and the Occupy SF Greece Rally
By Beth Seligman, J.D. - OccupySF.org

Summary: A small but informative OccupySF rally on February 17 was held in solidarity with the sovereignty of the people of Greece highlighting the importance of their economic situation to the Occupy community, the United States, and the world as a whole. SF Occupiers, with green signs dotting the sidewalk, called for the IMF to leave Greece, noting that the austerity measures were designed to benefit the banks but enslave the people, and pointing out that Greece should follow the example of Iceland, default on its debt, and arrest the bankers involved in the fraudulent derivative agreements that helped bring down the economy.

Former international bankers with ties to such private banks as Goldman Sachs have been bolstered to the helm of Greece and Italy, much like what’s happened in the United States when the Bush and Obama economic teams pushed through the massive bank bail-outs and began calling for “budget cuts”, aka: austerity. And many states and municipalities in the United States are burdened with debt to private bankers stemming from interest-rate swaps that private bankers pushed on them, much like the debt that Greece faces.

Greece has a choice: it can continue on this path of austerity agreements which will contract their economies even more, and lead to the sell-off of their state assets and resources to international banks and corporations, or it can follow the example of Iceland and default on its debt and use its tax revenues to invest in a green energy infrastructure, a localized productive economy, and its own people while setting an example for Italy, Spain, Ireland, and yes, the United States.

Please read the whole article to get the tenor of it here