Who can occupy Wall Street?

December 10, 2011
By MichaelZhang PLATINUM, Guildford, Other
MichaelZhang PLATINUM, Guildford, Other
29 articles 1 photo 7 comments

Favorite Quote:
The purpose of competition is to eliminate the competition.

So many people have been eager to occupy Wall Street.But indeed,many people are occupied by Wall Street.

The angry citizens in USA have been fighting for their fortune and rights in full swing for weeks,denouncing the huge investment banks in Wall Street.As I am in China,and I have little time to study the details of this campaign,what I have known is that the genius of financial math in the banks have carried out a numerous of complex financial models and put forward a great number of financial derivatives to the public,attracting them to make loans to consume.However,crisis came,the banks,which have squeezed so much money from the citizens,began to request the debts.But at the time,the people who were over-consuming had insufficient ability to pay off,how could they repaid the whole loans?

People blame the greed of Wall Street.Actually,it is a truth.The greed of financial power has given Wall Street the most powerful strength to rule the world's market and economy.The investment banks bought the shares of mining companies in Latin America,handled the price of oil, interfered the debt in EU and controlled the price of the produced manufactured by the countries like China which are located in the low position of the global industry chain.There is no doubt that Wall Street is greedy.

Nevertheless, What if people occupy Wall Street, eliminating this greedy empire? Just because of Wall Street and its outstanding ability of capital management,USA became the leader in economy of this world,the consumption of the citizens in USA has grown a lot and the wonder of technology Silicon Valley can be created. What's more,Wall Street helped Europe went out of the damage of WW2 and let Japan up, and it assist new countries like China in gathering capital for investment.

This is a fact that Wall Street is guity for its horrible power and greed. However, who can actually occupy Wall Street? Who can take the place of Wall Street?

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