The fifth story on the "Countdown" -- Wall Street is not trembling, not yet, certainly. Though one banker did ask Times columnist Aaron Ross Sorkin if Occupy Wall Street was going to turn into "a personal safety problem."
And GOP presidential contender Mitt Romney, the one-time chief of private equity firm Bain Capital, told an audience at a Florida retirement community today, "I think it's dangerous, this class warfare." That's a job-killing venture capitalist talking about class warfare, as if he didn't practice it every day of his adult life. Trying to scare Social Security and Medicare-dependent Americans who don't realize his party would happily cut up their safety net and frame the souvenir pieces and hang them on their walls.
Meanwhile in Washington, Federal Reserve Chair Ben Bernanke testifying before the Joint Economic Committee about the Wall Street excesses that that made Occupy Wall Street possible, necessary. With my guest in a few moments, Vermont Senator Bernie Sanders.
(Excerpt from video clip) SANDERS: There are people demonstrating against Wall Street in New York City -- and other cities around the country -- and I think the perception on the part of these demonstrators, and millions of other Americans is that, as a result of the greed, the recklessness and the illegal behavior on Wall Street, we were plunged in into this horrendous recession we're currently in. Do you agree with that assessment?
(Excerpt from video clip) BERNANKE: It had -- excessive risk taking on Wall Street had a lot to do with it. And so did some failures on the part of regulators.
OLBERMANN: Texas Republican congressman Michael Burgess wanted to know more about how Bernanke saw the movement.
(Excerpt from video clip) MICHAEL BURGRESS: What does that protest say to you? What are you hearing from that activity in New York right now?
(Excerpt from video clip) BERNANKE: People are quite unhappy with the state of the economy and what's happening. They blame, with some justification, the problems in the financial sector for getting us into this mess. And they are dissatisfied with policy response here in Washington. And at some level, I can't blame them.
OLBERMANN: As for Occupy Wall Street, it plans to keep clear of any direct political affiliations, tweeting today, "We don't want to be the Democratic tea party or Liberal tea party. We want to be our own movement separate of any political affiliation."
Separate or not, Congressional Progressive Caucus co-chairs, Representatives Keith Ellison of Minnesota and Raul Grijalva of Arizona today applauded the movement, and its calls for corporate accountability and expanded middle class opportunity.
While back in Zuccotti Park, Occupy Wall Street protesters planned a major march for tomorrow with student and labor support. A national student walkout has been planned for tomorrow as a component of Occupy Wall Street. Noon, 1:00 P.M., basically whenever you can do it. And unions, including the transport workers local 100, 1199, SEIU Health Care Workers Union -- with more than 300,000 members in the Northeast -- and National Nurses United, with more than 170,000 workers nationwide, will take part in the march. Protesters "Countdown" spoke to were thrilled.
(Excerpt from video clip) BOBBY MORENO: I think that's amazing. I think this is ultimately -- it's a movement for the workers.
(Excerpt from video clip) MAN: Bringing in these organizations with people from different backgrounds, different class, ethnic, racial backgrounds, gives us all types of new voices, advice, structural support.
OLBERMANN: Jill Furillo of National Nurses United will join me in a few minutes. With plans for Wednesday's march in New York moving forward, protests continue around the country, though some are now having problems with local police.
Occupy Chicago has been asked to move its tents and placards off the sidewalk at its location between the Federal Reserve Bank and the Bank of America there. And Occupy Seattle has posted that the mayor asked them to move or face arrest. The protestors say they are not moving. Occupy San Francisco, however, says it will march on the Federal Reserve building in that city tomorrow. And Occupy Los Angeles plans to collect trash from abandoned, foreclosed homes and deliver it to the doorsteps of the banks responsible. And my guest last night, Michael Moore, says there is more to come.
(Excerpt from video clip) MICHAEL MOORE: I mean, this is -- this is only going to spread. And it's all kinds of people. It is the 99 percent who had a boot on their neck by the one percent that occupy these buildings that are surrounding this plaza.
OLBERMANN: And for more on the extraordinary growth of the Occupy Wall Street movement and its impact on the national debate in Washington, I'm joined, as promised, by Senator Bernie Sanders, the Independent of Vermont. Good evening, Senator.
SANDERS: Good evening, Keith.
OLBERMANN: You asked chairman Bernanke about Occupy Wall Street and its connection to the great recession today. And Congressman Burgess of Texas did so. What did you think about Bernanke's answers? And were you surprised at that one part of it in which he said, "At some level, I can't blame them"?
SANDERS: Yeah, I was. But I think what he said was accurate. I think these demonstrators are touching a nerve. And the nerve is that people all over this country understand that the middle class is collapsing, poverty is increasing and that this horrendous recession which has caused so much pain -- so many millions of people have lost their jobs, their homes, their life savings -- was caused by the greed on Wall Street. And now, three years later, how -- what kind of punishment have we seen for the crooks that caused this recession? Well, you know what? Keith, they're making more money than they ever made before. So, I think what the demonstrators are saying is "Enough is enough. Wall Street has got to be accountable to the American people. We cannot continue the status quo, and we need some change."
OLBERMANN: Mitt Romney today called Occupy Wall Street as I quoted, "dangerous" and "class warfare." On the campaign trail, I guess a little hyperbole is always appropriate. But were you surprised to hear that, given what it seems that that one percent has been doing to the 99 percent for the last 30, 40 years?
SANDERS: Exactly. I mean, the reality is that, in a sense, Romney is right. Class warfare is being waged in America today. The problem is that the wrong side is winning. I mean, what we have seen in recent years -- and actually for the last several decades -- is the middle class is disappearing, we've got millions more people who are falling into poverty and yet the people on top are doing phenomenally well.
So that in America now, you have the most unequal distribution of income and wealth of any major country on Earth with the top 400 wealthiest people owning more wealth than the bottom 150 million Americans. And with that wealth, these economic royalists, if you'd like -- which is what FDR called them -- exercise enormous political power. And that is, they make incredible campaign contributions. They have lobbyists. They are going to use Citizens United to elect their friends and defeat their enemies. So, that is what class warfare is about, a few people on the top exercising enormous power and enormous amounts of money in order to push down the rest of the population.
OLBERMANN: Ten days ago, Occupy Wall Street looked like something that was coming to an end, that had been successful, but a fairly small ripple in the vast the ocean of money that the area both represents physically and symbolically. And then something changed. Do you have any idea what's happened? Why it has -- why it has rolled out further? Why are there unions involved now? Why there's going to be student walkout tomorrow? What nerve was touched and how much further can they be touched?
SANDERS: Well, I think what happened, Keith, is -- people are really, really hurting. I mean, not just economically, they're hurting emotionally. People know that something is wrong, but they're not seeing the manifestation of what they're feeling out there in the public. They're not certainly hearing Congress or the president addressing these issues. And now you see a bunch of people standing out there and saying, "Hey, you know, Wall Street are the people who caused this problem. We've got to start addressing it. And I think people are saying, "Yeah, that's right."
What we have to do though, I think, Keith, is not only demonstrate -- these guys -- the demonstrators are pointing a finger at the problem, we're gonna have to come up with some specific solutions to the problem.
Among many other things, you got the six largest financial institutions in this country, who have assets equal to 60 percent of the GDP of the United States of America. Some $7 trillion. Well, what do you do about that reality? That enormous concentration of economic power? I think you got to start breaking these guys up.
You have the Fed -- that provided $16 trillion in low interest loans to every Wall Street company and many others around the world during the financial collapse. Well, what should The Fed be doing now when real unemployment is 16 percent? Maybe it has got to respond with equal vigor, equal urgency and help small businesses with low-interest loans so that they can create the millions of jobs we need. Maybe we've got to lower the outrageously high interest rates on credit cards that Wall Street is charging us.
OLBERMANN: Do think Washington is reacting to this -- taking this seriously at this point? Do you have any sense that Occupy Wall Street has made an impact on the political game?
SANDERS: I think -- I think that, you know, politicians are getting a little bit nervous that maybe the American people are waking up, and they want Congress to stand up to the big-money interest and protect working families here. I think that consciousness may be creeping up even on Capitol Hill.
OLBERMANN: All right. When you see the ones that are still asleep, poke them in the side for us. Senator Bernie Sanders, Independent of Vermont, as always, our great pleasure and honor to have you here, sir.
SANDERS: Thank you, Keith.
