The New York Times reports: Publicly, bankers say they understand the anger at Wall Street — but believe they are misunderstood by the protesters camped on their doorstep.
But when they speak privately, it is often a different story.
“Most people view it as a ragtag group looking for sex, drugs and rock ’n’ roll,” said one top hedge fund manager.
“It’s not a middle-class uprising,” adds another veteran bank executive. “It’s fringe groups. It’s people who have the time to do this.”
As the Occupy Wall Street demonstrations have grown and spread to other cities, an open question is: Do the bankers get it? Their different worldview speaks volumes about the wide chasms that have opened over who is to blame for the continuing economic malaise and what is best for the country.
Some on Wall Street viewed the protesters with disdain, and a degree of caution, as hundreds marched through the financial district on Friday. Others say they feel their pain, but are befuddled about what they are supposed to do to ease it. A few even feel personally attacked, and say the Occupy Wall Street protesters who have been in Zuccotti Park for weeks are just bitter about their own economic fate and looking for an easy target. If anything, they say, people should show some gratitude.
“Who do you think pays the taxes?” said one longtime money manager. “Financial services are one of the last things we do in this country and do it well. Let’s embrace it. If you want to keep having jobs outsourced, keep attacking financial services. This is just disgruntled people.”
He added that he was disappointed that members of Congress from New York, especially Senator Charles E. Schumer and Senator Kirsten Gillibrand, had not come out swinging for an industry that donates heavily to their campaigns. “They need to understand who their constituency is,” he said.
CNBC reports: Several employees of Goldman Sachs have said that they have been told to stay away from the Occupy Wall Street protests in Zuccotti Park.
Goldman headquarters is at 200 West Street in New York City is just about 1,000 yards from the park where protesters have been encamped since Sept. 17. Until recently, it was possible to see the square from some offices in Goldman’s headquarters. Recent construction has blocked the view.
“I was going to come down to say hello yesterday,” one of my Goldman sources wrote to me on Wednesday. He was told by his employer that he should not go to the square for any reason.
At least five others have related similar stories. Supervisors and co-workers have said that they should stay out of the park. The reasons vary. Some say it is unsafe — although there are plenty of people who look like they work in Wall Street jobs around the protest every day. Others say that it could “endanger your career.”
None of the people I spoke with knew whether their was an official policy against going to the park.
“It feels officially unofficial,” one person said.
A spokesman for Goldman declined to comment.