Protesters In Oakland Shut Down Port And Police Express Sympathy With Their Goals

This article proclaims that the OWS protestors succeeded beyond expectations when it closed down Oakland's port with a strike. It points out that the Financial Times reported favorably on the strike and states that this is proof of success.

It also makes the important point that the majority of OWS protestors are not anti-capitalists or envious of those who got rich by successful competition on a level playing field. They oppose crony capitalism and government policies which have enabled many to get rich by looting their stockholders and the taxpayer. The recent bankruptcy of MF Global is a case in point. Stockholders were big losers as well as creditors by the actions of management which made highly leveraged bets on risky investments in financial products. The incentive system is set up to reward those who take these kinds of risks. Winning the bet produces huge payouts for management with little downside risk to management. Moreover, this use of scarce capital does nothing to enhance the well being of others. It would be better used by investments in capital that would provide valuable new products or superior capital that would promote efficiency and sustainable growth.