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“Occupy Wall Street” Picks Up Where The Tea Party Sold Out

The federal bank bailout masterminded by  President George W. Bush and his Treasury Secretary Henry Paulson ignited the  grassroots anger that created the Tea Party. But the populist group betrayed  its roots when it went corporate in 2009 after the friendly takeover by  Rupert Murdoch and the Koch brothers. The Tea Party sellout may be the reason  why the group’s negative ratings have doubled in national polls in the last year.

The Tea Party had every right  to be angry in the fall of 2008. The  finance industry spent $64 million  lobbying Washington in 2008, and  the bankers and hedge fund managers got a  great return on their  investment. The feds came up with $770 billion dollars to  bail out the  bankers and billionaires who created the economic meltdown that led  to  millions of Americans losing their jobs and then their homes.

Americans were justifiability horrified at the  single biggest  federal welfare payment of all time. Not only did the feds bailout out  Wall Street  but they failed to do anything to help the millions of  Americans who lost  everything they had because of corporate wrongdoing.  Meanwhile, Citibank used  $15 million of their fed bailout bucks to buy  the naming rights to the new stadium built for the New York Mets.

National surveys show that large majorities of  Americans favor  ending federal tax freebies for bankers, billionaires, hedge  fund  managers, and corporate jet setters. The public also wants to end tax   giveaways for the oil companies and the Benedict Arnold corporations  that send  American jobs overseas. But few people in Washington listen,  the Tea Party  punted, and thousands of courageous Americans are taking  to the streets.

To add fuel to the fire, the Bank of America  announced this week  that it would charge consumers $5 a month to use their own  debit cards.  After the Tea Party became a subsidiary of corporate America, it  was  just a matter of time until somebody rushed into the vacuum to channel  the  hostility that exists towards big business.

By: Brad Bannon, U. S. News and World Report, October 6, 2011

October 6, 2011 - Posted by raemd95 | Big Business, Class Warfare, Congress, Conservatives, Democrats, Economy, Elections, GOP, Ideologues, Jobs, Middle Class, Republicans, Right Wing, Taxes, Voters | Banks, Corporations, Koch Brothers, Occupy Wall Street, Politics, Rupert Murdoch, Teaparty, Wall Street