WeiJia Qin's Blog

A recent post I read written by fellow Sauderite Lisa Wu (Occupy Wall Street: UNEMPLOYED, INDEBT, AND FRUSTRATED) mentioned many interesting opinions on why people are so angry with the actions of Wall Street in recent years. To provide some background: recently, there has been many protests against the coporate greed, political dominance, and immoral behaviour of Wall Street. Wall Street has been identified as a culprit of American Recession, which has widened the income gap in America and left many unemployed without a means for making ends meet.

I completely agree with Lisa’s suggestion of reducing the ridiculous amount of money paid out to higher command employees by corporate companies. In my opinion, these ‘higher-ups’ are being paid much more than they deserve. Managing entire coporations may be difficult, but there are millions of workers who are working just as hard and yet are being compensated on a much smaller scale. I feel as if people at the higher end of the corporate ladder are taking advantage of their power within the coporation for selfish reasons. Many are gaining wealth at the expense of growing unemployment and increasing debt. Moreover, the public is, in a roundabout way, forced to pay for the mistakes that Wall Street commanders are making through taxation. The government pays large bailouts for the businesses that have failed because of the excessive greed of those who run them. This is all at the expense of meeting the needs of the very citizens whose lives are most affected by these failures.

Many see the situation of the Wall Street ‘dictatorship’ as flaw of capitalism. Wealth is being taken from the poor by those who are in control of the economy, who also have enough power to influence important political decisions. I think this is a time where the government needs to step in and  ensure that basic equality within society is still being observed.

Credit and Photo Credit: http://wearethe99percent.tumblr.com/
Credit: https://blogs.ubc.ca/lisawu/2011/10/10/occupy-wall-street-unemployed-in-debt-and-frustrated/ (Lisa’s blog)
https://blogs.ubc.ca/lisawu/2011/10/10/occupy-wall-street-unemployed-in-debt-and-frustrated/

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