Ilya Marritz
Ilya Marritz covers business for WNYC.
Wall Street Protests Target City's Millionaires
Tuesday, October 11, 2011 - 09:44 AM
Hundreds of protesters demonstrating against Wall Street headed uptown and staged a "Millionaires March" to the homes of capitalists in Manhattan.
Protesters swarmed the entrance of a Fifth Avenue high-rise — the purported home of News Corp. CEO Rupert Murdoch — on Tuesday afternoon as they marched north along the avenue chanting "We are the 99 percent!"
They then headed to Park Avenue and stopped at the home of oil tycoon David Koch then onto the home of financier Howard Milstein. Protesters made their way to JP Morgan Chase CEO Jamie Dimon holding aloft over-sized checks for $5 billion made out to the wealthy.
Mayor Michael Bloomberg, whose townhouse was not visited by protesters, defended Dimon, saying he was a good banker.
"To go and to picket him — I don't know what that achieves," Bloomberg said. "Jamie Dimon's an honorable person, works very hard, pays his taxes."
They don't have a permit, but will walk in a narrow column so they don't block sidewalks, according to Doug Forand, a protest leader.
Forand, citing budget cuts affecting schools and senior citizens, said the state's plan to end the "millionaires' tax" is "unconscionable" and urged lawmakers to extend it.
With the Associated Press
Comments [11]
Paraphrasing, the Mayor says Dimon is a good man, and pays his taxes. But Mike, that misses the point: a) his tax bracket is unfairly lower than that of most people; and b) Chase shares great responsibility, along with other financial institutions, for creating "financial instruments" that brought on the "banking scandal", housing collapse and ongoing breakdown in the world economy.
The Corporate Class has been given the pass as far as personal responsibility is concerned. But the Teflon is wearing thin. Not only is the Emperor not wearing any cloths, there shouldn't be an Emperor.
Hobbies for all!!
Mayor Bloomberg, criticizing the protestors, said something like: "...wall street taxes pay for schools, teachers, policemen...all sort of workers...the protestors are misdirected..." BS!!! Why are teachers being layed off and schools being closed?! I'll tell you why -- because the taxes the top 1% fat cats pay aren't enough. Raise taxes on top 1% and stop laying off teachers and police. Simple solutions are usually the best.
Don't forget to stop by Gracie Mansion, Forest City Ratner HQ, Yankee Stadium and Jay Z's house. They're all rich pigs in cahoots giving and receiving tax breaks and ripping off the city, i.e. us "little people".
Capitalism means you take a RISK at possible failure with your OWN MONEY. But not in today's world.
I'm pretty sure that they are not dirty hippies but dirty college students with too much time on their hands.
You show those dirty hippies what real compassion is.
Frank Talk-Don't be so presumtive. I have a mutt who I adopted from a shelter as an adult.
The only movement worthy of the attention of UpperWestSideMom is her Golden Retriever's.
Hundreds of people? Proof that this is not a movement.
Power to the people, right on, these guys and gals have the right idea, and are on target. They have a right to be heard, and more
Great. It will be a sign of focus and coordination if it's pulled off without arrests.
I live a couple of doors away from what was once a notorious crack and prostitute hotel. Our neighborhood organized a bus trip to the owner's home in a wealthy Westchester town. We marched around his street, and held signs and chanted to let his neighbors know how he made his living.
Within a year he was out of business. Now the building is a wonderful youth hostel.
Our demonstration wasn't the only factor in shutting him down, but I'm sure the press we got contributed to the pressure on police, the DA and local politicians.
Maybe these demonstrators will be lucky and some members of the press will take a closer look at the political protections that are enjoyed by Murdoch, Dimon, Koch, etc.
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