Hedge fund manager Eric Jackson shares the views of many in thinking that CNN’s Erin Burnett misfired when she criticised the Wall Street protestors as hypocritical.
He also says he thinks the protests are “crossing the Rubicon” in terms of starting to resonate with mainstream Americans.
Last night, Erin Burnett, appearing on her new CNN show, took aim at Occupy Wall Street in a segment she called “Seriously?!” — notice the extra “!” at the end? The clip is below:
You can see the same kind of “gotcha… you buy things… therefore, how can you protest capitalism?” journalism on display here. These yahoos buy Apple (AAPL) stuff, Lululemon (LULU) yoga pants, and cell phones. They also play banjos — implying they are less than serious.
But the Erin coup de grace is when she lays into the unemployed software developer and sets him straight on the notion that the Wall Street bank bailouts cost America money. Her crack staff ran the numbers and they determined that taxpayers have made $10 billion to date and should ultimately make $20 billion. “This was the big issue?,” she asks grinningly. “Well, we [her staff] solved it!”
You hear that, America? This economy is rocking! Go home.
Erin Burnett was way too dismissive and condescending of these protesters. Who proclaimed that only people who live in caves and don’t use bank machines can show up to protest on Wall Street?
I love capitalism. It’s better than any other alternative system in the world. But that doesn’t mean there aren’t many changes which can be made to fix it.
The protests are clearly gaining momentum, and they’re also clearly resonating with Americans. The message (and grievances) still need to be refined—there’s nothing inherently wrong with capitalism or companies, which employ the majority of the country, and individuals certainly bear plenty of responsibility for the financial crisis—but it’s no surprise that people are angry.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.