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In praise of Occupy


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As Occupy gets such a bad press on here, I just thought I'd share with the naysayers the comments of Andy Haldane, much respected Director of the Bank of England, who says;

 

'The Occupy movement has performed a valuable service, both morally and intellectually, in its protests about the economic crisis. There is something wrong with a system that encourages speculation and huge inequalities of wealth that then lead to rescue operations financed by the hardpressed taxpayer - rescues which remove the moral hazard that normally restrains rash lending. Occupy has been fundamental in raising public awareness.'

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As Occupy gets such a bad press on here, I just thought I'd share with the naysayers the comments of Andy Haldane, much respected Director of the Bank of England, who says;

 

'The Occupy movement has performed a valuable service, both morally and intellectually, in its protests about the economic crisis. There is something wrong with a system that encourages speculation and huge inequalities of wealth that then lead to rescue operations financed by the hardpressed taxpayer - rescues which remove the moral hazard that normally restrains rash lending. Occupy has been fundamental in raising public awareness.'

 

I think the public were already fully aware and all occupy achieved was to cause an additional problem for the public.

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As Occupy gets such a bad press on here, I just thought I'd share with the naysayers the comments of Andy Haldane, much respected Director of the Bank of England, who says;

 

'The Occupy movement has performed a valuable service, both morally and intellectually, in its protests about the economic crisis. There is something wrong with a system that encourages speculation and huge inequalities of wealth that then lead to rescue operations financed by the hardpressed taxpayer - rescues which remove the moral hazard that normally restrains rash lending. Occupy has been fundamental in raising public awareness.'

 

Thats rich,coming from a banker who helped to cause all the mayhem in the first place.

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