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Occupy Wall Street’s crony capitalism

Occupy Wall Street’s crony capitalism
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First Published: Mon, Oct 17 2011. 11 19 PM IST

Wall Street (Bloomberg)
Wall Street (Bloomberg)
Updated: Mon, Oct 17 2011. 11 19 PM IST
The “Occupy Wall Street” movement, now in its fourth week, has plenty to brag about. Its occasionally published newspaper, the Occupied Wall Street Journal, proclaims: “In the great cathedral of capitalism, the dispossessed have liberated territory from the financial overlords and their police army.”
Wall Street (Bloomberg)
How did protesters manage to take over Zuccotti Park, a half-acre plot a few blocks from Wall Street? It turns out that this land grab is not due to the power of social media. Instead, the main force letting protesters stay in the park is old-fashioned crony capitalism.
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L. Gordon Crovitz is a columnist for The Wall Street Journal
The Wall Street Journal
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First Published: Mon, Oct 17 2011. 11 19 PM IST