Uk occupy Movement is endorsed by a senior British banker
Top Banker endorses UK Occupy Movement
Tue Oct 30, 2012 7:25PM GMT
Britain’s “Occupy Movement” has successfully attracted public support from among various ranks of the people worldwide simply because “they are right”, said a senior British banker.
Andrew Haldane, a member of the Bank of England’s financial policy committee, said the problems of the global financial system have been successfully popularized by the “Occupy Movement”, British media reported.
“The Occupy movement was both morally and intellectually right to challenge the international financial system”, Haldane said in a speech last night called Socially Useful Banking.
Haldane lauded the activists for holding sustained demonstrations in both the City of London and New York, which helped to bring about a “reformation” of the finance sector.
“Some have suggested … that Occupy’s voice has been loud but vague, long on problems, short on solutions. Others have argued that the fault-lines in the global financial system, which chasmed during the crisis, are essentially unaltered, that reform has failed,” Haldane said.
“I wish to argue that both are wrong – that Occupy’s voice has been both loud and persuasive and that policymakers have listened and are acting in ways which will close those fault-lines. In fact, I want to argue that we are in the early stages of a reformation of finance, a reformation which Occupy has helped stir”, the official added.
Speaking at an Occupy Economics event in central London, Haldane said that Occupy had been “successful in its efforts to popularise the problems of the global financial system for one very simple reason: they are right.”
Haldane’s comments were welcomed by Occupy activists. Ronan McNern, a spokesman for Occupy London Stock Exchange, said: “It’s good to hear more voices like Mr Haldane’s coming through. His comments are definitely welcome. They could have done something about this a lot faster.”
“If this is a beginning, there is a long way to go. Banking reform is only part of the problem. It’s a system-wide issue where certain people are profiting of other people”, he said.
Occupy protesters first descended on the London Stock Exchange on 15 October 2011, in a copy-cat demonstration of other protests around the world that called for action against economic inequality and corporate excess.