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Today's Top News
Wall Street Protests: Which Side Are You On?
Wall Street has long been the home of the biggest threat to American Democracy. Now it has become home to what may be our best hope for rescuing it.
For everyone who loves this country, for everyone whose heart is breaking for the growing ranks of the poor, for everyone who is seething at the unopposed demolition of America's working and middle class: the time has come to get off the fence.
A new generation has gone to the scene of the crimes committed against our future. The time has come for all people of good will to give our full-throated backing to the young people of the Occupy Wall Street movement.
The young heroes on Wall Street today baffle the world because they have issued no demands. The villains of Wall Street had their demands -- insisting upon a massive bailout for themselves in 2008, while they pocketed million dollar bonuses. The Wall Street protesters are not seeking a bailout for themselves; they are working to bail out democracy.
The American experiment in self-governance is at a moment of crisis. The political system thus far has proven itself incapable of responding to a once in a lifetime economic calamity. With income inequality and unemployment at the highest rates since the Great Depression, it's no wonder that almost 80 percent of the country thinks we're on the wrong track.
But the crisis of American Democracy did not start with the financial collapse. For at least 30 years, the system has been rigged by the wealthy and privileged to acquire more wealth and privilege. At this point, 400 families control more wealth than 180 million Americans.
This great wealth divergence has resulted in an unjust and dangerous concentration of economic and political power in the hands of the few. It has pushed millions -- especially the rising generation and communities of color -- into the shadows of our society. The middle class continues to shrink, and the ranks of the poor have swelled. The political elite has failed to take the necessary steps to provide opportunity to the majority of Americans.
A movement was born after Madison, Wisconsin, to oppose these injustices. It has now spread to every Congressional District. We call ourselves the American Dream Movement. We engaged 130,000 people to crowd-source our own jobs agenda -- the Contract for the American Dream. In August, tens of thousands demonstrated for jobs in rallies across the nation. Next week in DC, we host our first national gathering: the Take Back The American Dream conference.
The Occupation of Wall Street -- and the occupations throughout the country -- are expressions of the same spirit and dynamic. And these particular demonstrations, perhaps uniquely, contain the spark to grow into a movement that can be transformative. They are the first, small step in the creation of a movement that can restore American Democracy, and renew the American Dream.
The hundreds of young people from all five boroughs that camp out every night, in the heart of the financial district, in the rain and the cold, at risk of arrest, are providing the inspiration to draw more and more out of the shadows and into the bright light of the public square. The occupation grows larger and more diverse every day. Young people, the majority of whom are under 25 and have never before engaged in activism, are managing the arduous task of a consensus rules meeting with no sound system. The nightly general assemblies are attracting crowds in the thousands to stand amongst a group of their peers and debate our path forward as a people.
The occupation is a revival of a proud tradition of authentic, people-powered movements that have been dormant -- and that we need now more than ever. It is building into the kind of massive public demonstrations -- like those in Egypt, Madison, and Santiago -- that can shake the foundation of a system of power that has lost sight of the public good.
Now is our time to choose. Will we keep rewarding those whose financial manipulations have brought us to ruin? Or will we stand with those whose democratic innovations are breathing life into our finest ideals? Both groups are within blocks of each other in downtown Manhattan.
For the past 30 years, the country has stood behind the titans on Wall Street and their values. We listened when they said that their banks were too big too fail. Today, there is only one thing that's too big to fail: the dreams of this new generation, finding its voice in Liberty Park. All of America should now stand with them.