Occupy Wall Street: Economics and the First Amendment

The Occupy Wall Street folks are tremendously naive. They believe Wall Street is responsible for the collapse. Partly, but the U.S. government is more culpable. It started with federal legislation encouraging banks to make home loans to very high risk borrowers. It was exacerbated by a lack of investor confidence in the government and economy because of a federal debt that was out of control and an ObamaCare plan which would cost billions and jobs. Yes, there was criminality and corruption on Wall Street and it needs to be dealt with. However, bailing out obviously mismanaged firms sent the wrong message. They think some kind of socialism is the cure. (See Economist Walter Williams recent column) They haven't been doing much reading about the crisis in Greece and the EEU. They don't get it that there is no such thing as a free lunch or pie in the sky. However, I respect their First Amendment right to protest peacefully.