Rosalie Rosenfeld’s Oct. 8 letter passionately defending corporations was quite over the top! She claims the Occupy Wall Street protesters are demanding the demise of corporations, and finds herself smiling at their naivety or ignorance.
These protests are nothing to smile about! They may be just the beginning of worse things to come.
The French Revolution was spawned by the abuses of the rich. The American Revolution was precipitated by the abuses of the king and the British parliament. The seeds of a social revolution in our country are blowing about and have been fertilized by the tremendous social and economic inequities currently existing in our country.
These protesters are not demanding the demise of corporations. They are protesting the criminal abuses of Wall Street for which none of those responsible have been prosecuted. They are protesting the abuses of large corporations who export American jobs overseas and are now sitting on trillions of job-creating dollars.
They are protesting the outrageous salaries of CEOs which average $11.4 million a year, according to the 2010 Standard & Poors 500 index. They are protesting the abuses of the huge banks, which, according to Forbes.com, are paying their top executives anywhere from $19.4 million a year (Citibank) to $71.5 million (Goldman Sachs) in total compensation while imposing unnecessary fees on the very Americans who bailed them out.
They are protesting the increasing decline of the middle class and the record number of Americans living below the poverty line, 15.1 percent in 2010 (New York Times).These protesters are only seeking the equal opportunity for all, promised to them in the Constitution but currently denied them in the current economic climate of our country.