I think it will die on the vine as well – simply because there is nothing to actually do. I support their right to protest and I don’t hate their list of demands, but I just don’t think it will accomplish anything tangible.
“Wall Street” is not a person or an organization. It’s like protesting against vapor and hoping to control it.
“Hey you wall street people – yeah, you thousands of people there. Stop that. I’m not sure what you are doing but I have no money and I think it is your fault. So, stop it – whatever it is you are doing – and everything will be OK.” I just don’t see it going anywhere.
It seems the protesters have accepted the notion that how the banks go is how our economy goes – I guess Paulson convinced them – and so they feel the need to exercise some control over the banks.
I see it this way – instead of dictating how the banks operate in order to keep our economy more stable, we really need to disassociate the health of the economy from the health of private banks so we can let them fail when they do stupid things. This way, we don’t have to spend all this time and effort manipulating the banking industry with a spiderweb of regulations, loopholes, bail-outs and closed-door meetings with federal reserve officers under the guise that that it helps the economy. We can just let the stupid banks fizzle away.
And, in the long run, keeping the stupid banks alive only results in a weaker baning system anyway.
The OWS crowd should really be protesting the federal reserve banking system but somehow it is “Wall Street’s” fault. I guess they are in bed together, though. With some luck, maybe the OWS will transform into an anti-federal-reserve movement, in which case maybe it will go somewhere useful.