Occupy Wall Street: Who are targets of 'millionaires march'?
Occupy Wall Street protesters Tuesday marched on the residences of some of the power brokers who they say are responsible, at least in part, for the nation's economic ills.
Those were some of people targeted in a so-called "millionaires march." The Occupy Wall Street supporters have pitched their three-week-old protest as movement by "the 99 percent." This march puts a face on the "1 percent" whose powerful influence over government and financial institutions, they say, is responsible, at least in part, for the nation's economic ills.
IN PICTURES: The Occupy Wall Street protests
Where protesters in the 1960s had "the Man" to fight against, the "1 percent" may be today's equivalent code word for an establishment elite -- and those who enable or profit from it.
Hundreds of the 99-percenters marched along New York sidewalks Tuesday, pacing two-by-two because they didn't have a permit and were trying not to disrupt ordinary traffic.
Here's a look some of the people they rallied against:
Jamie Dimon of J.P. Morgan. Mr. Dimon is the banker that many Wall Streeters most admire -- the guy who could keep relatively cool even as some other big banks welcomed TARP bailout money (or wished they had access to it). As J.P. Morgan's CEO, his bank was a big one that didn't fail (like Lehman Brothers) or buy a massive pool of bad mortgage loans (as Bank of America did when it acquired the lender Countrywide Financial). He wasn't at the helm of AIG when it collapsed under all those complex "derivatives."
So why is Dimon a target of protesters?
It's not that the other bankers are wildly popular with those encamped at Zuccotti Park near Wall Street. But Dimon is a symbol of the close ties between the elites in Wall Street banks and in Washington. Dimon may have said his firm didn't need a bailout, but federal moves under Presidents Bush and Obama to aid the banking system benefited his firm immensely, many economists say.
The protesters say ordinary people are still stuck with their mortgage debts, student loans, and a dearth of jobs -- while it's business as usual for Dimon and his company.