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Forum Post: Historical Perspective

Posted 10 years ago on Dec. 6, 2011, 2:31 p.m. EST by ciahat (0)
This content is user submitted and not an official statement

It's well known that – for more than two centuries – Wall Street has been repeatedly swept by financial panics, and that the American economy has repeatedly crumpled into recession or depression. It's less well known that virtually each collapse has been met by outraged protest, particularly in New York City, Wall Street's home town.

Pultizer Prize-winning historian and Gotham Center founder Mike Wallace puts the current surge of popular anger into historical perspective, describing the crises and protests of 1792, 1837, 1857, 1874, and 1930. While there are no "lessons" to be learned here -- history never does repeat itself -- it might nevertheless be interesting for Occupy Wall Street participants and supporters to know that our protest is not without precedent.




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[-] 1 points by OccupyCentre (263) 10 years ago

O dear. When is the next crisis? The last one was the one starting in 1930, as you mention. However, many big 1%ers were ruined then. The banksters seem to have improved the model so that the 1% were untouched or made more, as the 99% lost their life savings in many case.