BeaknEye_3_11_ISSUU
11/3/2011
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Beak ‘n’ Eye
Hunting for bear – page 8
Volume 52 Issue 3
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West High School
3505 W. Locust St. Davenport, Iowa 52804
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Friday, November 4, 2011
OCCUPY AMERICA
Photo by Craig Ruttle/Newsday/MCT
DRAWING A LINE - Demonstrators with the Occupy Wall Street movement face off with the New York City police department in Time Square on Oct. 15
Occupy Wall Street spreads throughout the country By Hieu Nguyen
The Occupy Wall Street protest that started about a month ago in New York City spread to the Quad-Cities on Oct. 22. About 200 people marched across Centennial Bridge and rallied in LeClaire Park in Davenport. Members of the Occupy Wall Street movement are protesting tax breaks for the rich and the government bail out of banks in 2008 because some bankers and brokers used citizens’ money inappropriately and faced bankruptcy. The people oppose the inequality of wealth, corporate greed, and corporate influence upon the government. There are many jobless people who have not worked for years. The protesters are liberals, libertarians, political independents, anarchists, and environmentalists. They want more social justice and to stop the lack of financial growth for lower income people compared to higher income people. That gap is widening. “We are the 99 percent” is the slogan that the protesters use, referring to the fact that most people do not belong to the wealthest one percent of U.S. citizens. There are some wealthy people who support the protest and some famous people show up and send their support. Other major cities in the United States also begin protesting like the New York protest. Around the world, over 900 cities have had their own ‘Occupy’ protests. One West teacher supports the movement. “Why attend an Occupy event? It is
history in the making...and because I am part of the 99 percent,” said Jodi Zimmerman, social studies teacher. “The last time we had such income disparity–1928–our economy did not fare very well. I am interested in restoring some balance in the power structure via stronger unions and greater enforcement of tax codes/laws.” “We all must work together to remove the stain of the Citizen United decision from our country,” she said. “Impeaching Clarence Thomas, passing an amendment, and whatever else it takes to right a wrong that imperils our nation and our future.” Last month the protesters marched on the police headquarters, Lower Manhattan, Brooklyn bridge, and Time Square recruitment, and 992 people were arrested. “The protest is interesting to follow,” said Steven Baldry, social studies teacher. “Our economy has inspired people to make their arguments more public. Concerns about our shrinking middle class are being felt by many groups including college students, union workers, and many more.” A student said she learned more about the inequalities at the QC rally. “I thought it was fun and cool. I enjoyed all stuff that I learned. I like that we’re not consumers, but people,” said junior Ashleigh Gray. “Students should care about Occupy Wall Street because they’re going to live with decisions that are being made today for most of their life,” said George Kiefer, social studies teacher. I think that they’re huge in inequalities in pay that’s quite unfair.”
Why the fuss
By Hieu Nguyen
art by Kayla Garcia
Photo by Hieu Nguyen
SIGN OF THE TIMES – This protester holds a sign that he made for the Occupy Quad-Cities rally Sept. 17 in LeClaire Park, Davenport.
The U.S. Treasury and Federal Reserve System bailed out some big banks and businesses with tax dollars in 2008 after many financial institutions lost money when the home mortgage industry failed. Banks had made loans too easy to get and when people defaulted, the banks lost money. This came after Congress deregulated banks in the late 1980’s. In 2008, Troubled Asset Relief Program (TARP) was formed through the Emergency Economic Stabilization Act passed by Congress; $700 billion were given to this program in order to help the business. In the same year, Fannie Mae/Freddie Mae was placed under conservatorship of the Federal Housing Financial Agency and the cost was $40 billion; the money must increase now. The first government bailout was in 1970. Penn Central Railroad bankrupted on June 21, 1970. Congress passed Financial Institution Reform Recovery and Enforcement Act in 1989 in order to help savings and loans from losing money. The airline industry got money to help through the Air Transportation Safety and Stabilization Act in 2001 and the cost in 2008 is $18.6 billion. In 2009, Bank of America received $45 billion through TARP.