Bernanke says Occupy Wall Street misunderstands Fed - Nov. 3. Fed Chairman Ben Bernanke, at Wednesday's news conference, says Occupy Wall Street protesters have "misconceptions" about the central bank. NEW YORK (CNNMoney) -- America's top central banker "sympathizes" with the Occupy Wall Street protesters and thinks many of their frustrations with the sluggish economy are "understandable.
" But there's one complaint Ben Bernanke does take issue with: the backlash against the Federal Reserve. "I think that the concerns about the Fed are based on misconceptions," he said at his news conference Wednesday. The Occupy Wall Street protests, which started in New York in September and have since spread around the world, are known for their ever-evolving and diverse list of grievances. Among them are the common themes of distaste for the banking system and frustration with government. With that in mind, the Fed is perfectly situated as a whipping boy for the Occupy demonstrations.
Protestors have other issues with the Fed besides the bailouts. Sen. Let Them Eat Cake: An Observation on Occupy Wall Street | Pantheon. The Occupy Occupy Wall Street Movement: The 1 Percent Fights Back, Tavis Smiley Responds [PHOTOS] Peter Schiff Speaks for 1 Percent at Occupy Wall Street. Occupy Wall Street Protests Rankle the Rich. In the 5th week of the Occupy Wall St. movement, with protests now having spread now to 150 U.S. cities and even to Europe, the apparent objects of that protest—the richest 1 percent—are starting to push back. The grumbling from the wealthy took off with a sign posted in the windows of the Chicago Board of Trade last week, in a place where street protesters easily could see it, which proclaimed: "We Are The 1%. " No one is sure who put up the sign, but plenty of folks in the building could be included in the 1 percent.
If a joke, it was one many protesters didn't get. "I thought [the sign] was extremely disrespectful," a special education teacher named Corey, 35, told TimeOut Chicago. Mike Polski, 53, from Joliet, disagreed, telling TimeOut, "These people wish they were the 1 percent! The 1 percent are billionaires. " He's wrong. Whoever posted the sign, trader Eric Wilkinkson says he is in sympathy with it. Says Wilkinson, "It's capitol hill and Obama that are the culprits. Wall Street Mocks Protesters By Drinking Champagne 2011.