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September 15, 2012

Two Days In September

“Anniversary No. 1: Exactly four years ago, Lehman Brothers filed for bankruptcy protection. In the days and weeks that followed, we saw the unfolding of the dramatic — and ultimately successful — effort by the federal government to rescue the banking system. But, once the dust settled, we began to see something else: like the stock market crash of 1929, Lehman wasn’t an isolated event. Rather, it was a signal that deep problems had enveloped our economy — problems that wouldn’t be solved quickly or easily. That is why the Lehman bankruptcy still resonates. It was the moment everything changed.”

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“Anniversary No. 2: Sept. 17, 2011, was the date Occupy Wall Street took over Zuccotti Park in Lower Manhattan, which soon led to similar actions in cities across the country. The movement’s primary issue was income inequality — “We are the 99 percent,” they used to chant. Reporters swarmed into the park, interviewing Occupy protesters and speculating on whether Occupy had the potential to be a lasting force. “Can Occupy Wall Street Become the Liberal Tea Party?” asked The American Prospect magazine.”

“A year later, we know the answer: It can’t, and it isn’t. For all intents and purposes, the Occupy movement is dead, even as the Tea Party lives on. But why?”

Read the full column here.

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