Chris Hedges’ Speech in Front of Goldman Sachs Leads to Arrest
Published: Friday 4 November 2011

“Since the formal mechanisms of power refuse to restore the rule of law, then we, the 99 percent, will have to see that justice is done.”

Chris Hedges made this state­ment in New York City’s Zuc­cotti Park on Thurs­day morn­ing dur­ing the Peo­ple’s Hear­ing on Gold­man Sachs, which he chaired with Dr. Cor­nel West. The ac­tivist and Truthdig colum­nist then joined a march of sev­eral hun­dred pro­test­ers to the nearby cor­po­rate head­quar­ters of Gold­man Sachs, where he was ar­rested with 16 oth­ers.

Gold­man Sachs, which re­ceived more sub­si­dies and bailout-re­lated funds than any other in­vest­ment bank be­cause the Fed­eral Re­serve per­mit­ted it to be­come a bank hold­ing com­pany under its “emer­gency sit­u­a­tion,” has used bil­lions in tax­payer money to en­rich it­self and re­ward its top ex­ec­u­tives. It handed its se­nior em­ploy­ees a stag­ger­ing $18 bil­lion in 2009, $16 bil­lion in 2010 and $10 bil­lion in 2011 in mega-bonuses. This mas­sive trans­fer of wealth up­wards by the Bush and Obama ad­min­is­tra­tions, now es­ti­mated at $13 tril­lion to $14 tril­lion, went into the pock­ets of those who car­ried out fraud and crim­i­nal ac­tiv­ity rather than the vic­tims who lost their jobs, their sav­ings and often their homes.

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