In his weekly radio interview on the John Gambling show on Friday, New York City Mayor Michael Bloomberg said he believes the Occupy Wall Street protesters are misguided for targeting banks.

"The protesters are protesting against people who make $40-50,000 a year and are struggling to make ends meet. That's the bottom line," he said.

"And people in this day and age need support for their employers. If the banks don't go out and make loans we will not come out of our economic problems, we will not have jobs so anything we can do that's responsible to help the banks do that is what we need."

Asked by Gambling how long the city would allow the protests to continue, Bloomberg said, "We'll see."

"You know people have a right to protest but we also have to make sure that people who don't want to protest can go down the streets unmolested. We have to make sure that while you can say what you want to say, people who want to say something very different have a right to say that as well. That's what's great about this country."

On the same program last month, the billionaire mayor predicted that if the nation's economic situation did not improve then it could face riots.

Listen to the full radio show here (his remarks on the protests come at about the 24:00 mark):