Monday, December 5, 2011

I am Rubber. K Street's Glue: How the opponents of Occupy Wall Street will Attempt to Change the debate

As Occupy Wall Street continues to gain legitimacy with the public; Wall Street, detractors and opponents  will pull out every trick in the book to tamp down the excitement and the traction the movement is gaining. Without a doubt, the first example of the traction OWS has is the notion of the 99% vs the 1% that is now part of our American lexicon. We see this turn of phrase everywhere we go. It shows up in politicians speeches, folks joke about it in casual conversation and the 99% concept is part of comedy routines. Another sea change that is evident is how readily folks will offer disparaging remarks about financial institutions when out in public. I do not recall a time when I met more people who were dissatisfied with their banks.The Protesters' chant seems to be ringing true with the public across the spectrum:  "Banks got bailed out. We got sold out."
As those who stand to lose by Occupy Wall Streets gains scramble for the means to defeat and discredit the protesters, an emerging theme is that OWS should be focusing on K Street instead of Wall Street. This is a clever tactic because of K Street's culpability in the mess we find ourselves in: yet, it is meant to change the focus.In the next few months, I suspect we will see this concept exclaimed as a talking point by the detractors on all the cable outlets. The drum beating that the focus must be shifted to the government's culpability  has already popped up in this video where John Stumpf Chairman of the Board and CEO of Wells Fargo gets Mic checked. Notice his statement at the end of the video. " Washington has to make a decision what the laws of the land are." CEO John Stumpf
Larry Fink and bill Gross chime in the same refrain in this video on Bloomberg TV that at the same time  is surprisingly supportive of the movement.
Black Rock's Larry Fink and Pimco's Bill Gross
And, here it is as a methodology for counteracting the movement as advised by Frank Luntz:
talking points   Frank Luntz
This is not earth shattering; in fact, it is elementary politics that those who stand to lose the most are going to try to shift the focus of this raucous, debate changing movement. I simply find the thread of blame shifting that is running through interesting.

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