Occupy Wall Street - An Anti-Capitalist Movement?

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Case Details:

Case Code : ECON037
Case Length : 17 Pages
Period : -
Pub. Date : 2012
Teaching Note :Not Available
Organization : -
Industry : -
Countries : -

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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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In September 2008, the US suffered an economic collapse, which many considered to be the worst financial crisis since the Great Depression of 1929. Many economists and analysts were of the view that the root cause of the crisis was the collapse of the housing market, which later triggered the collapse of the banking system and financial institutions in the US. The US Senate Permanent Subcommittee on investigation into the origins of the 2008 financial crisis, pinpointed the cause as the high risk lending by US financial institutions, regulatory failures, and the high risk poor quality financial products designed and sold by investment banks...

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Occupy Wall Street - Anti-Capitalist?

The OWC protestors argued that the US government should tax the rich and spend money on healthcare and in people's interests and not on corporate welfare and corporate interests. Critics of the US bailout package commented that the OWC protest was due to public frustration over moral hazards among financial managers and the economic hardship caused by the crisis. The OWC protestors argued that the bailout packages were anti-capitalist. In a speech to OWC, Joseph Stiglitz, economist and Nobel laureate, commented that the financial institutions had misallocated capital and created risk and their misdeeds were being borne by the main street...


Exhibit I: Social Media March on Wall Street

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