On Thursday afternoon,
thousands of workers and labor leaders marched on Wall Street for a massive
protest of financial sector greed and lending practices by big banks.
About 10,000 AFL-CIO members
gathered on the streets of downtown Manhattan forcefully calling out for major
changes Wall Street's culture of greed.
The rally, one of the largest
in recent memory to take place at the center of the financial world, was
timed to begin at 4:00 p.m. the close of trading. Dozens of individual unions were in attendance, with a march down a
six-block route to the iconic bull at the corner of Wall and Broad Streets, followed
by a speech from AFL-CIO President Richard Trumka.
"Sisters and brothers,
our history and our heritage teach us that America is about more than making
easy money and looking out for number one. Our lives and our livelihoods are
all bound together. And we are all paying the price for those who knew no
limits on their greed," Trumka was prepared to say, according to advance
remarks. "Eight and a half million lost jobs -- that's the price of greed
-- that's the real cost of bankers' bonuses and private jets and cute tricks
like the one that got Goldman Sachs in trouble last week."
Regulatory reform is now
going to be debated in the US Senate after Democrats broke a three-day long Republican
filibuster and brought legislation to the floor. The legislation comes up short
of many of the AFL-CIO's goals, but Trumka has been supportive of the bill nonetheless
and is likely to cheer progress in the Senate as a sign of where the political
winds are blowing.
Many believe that Republicans
finally dropped their opposition because they finally sensed they were on the wrong
side of a divisive argument. According to national polls the conservative base is
just as enraged as the unions with the favoritism Wall Street enjoys in
Washington D.C.
As
the AFL-CIO was out on Wall Street demanding tougher rules for the financial
industry, the Tea Baggers were nowhere to be found. The progressive blog The Huffington
Post is reported to have contacted to two official Tea Bagger organizations to
see if they would send individuals to the Wall Street march. Neither Tea New
York nor the Tea Party Express would be in attendance, said their
representatives. What a surprise!
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