New York's Bloomberg says protesters trying to destroy jobs

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NEW YORK | Fri Oct 7, 2011 8:59pm EDT

NEW YORK (Reuters) - New York Mayor Michael Bloomberg accused anti-Wall Street protesters on Friday of trying to destroy jobs in the city, even as he said he was sympathetic to some of their complaints.

Protesters complaining about what they view as corporate greed have been camped out in Zuccotti Park in Manhattan since last month, staging rallies and marches that have mostly proceeded peacefully but sometimes resulted in confrontations with police.

"What they're trying to do is take the jobs away from people working in this city," Bloomberg said on his weekly radio show, adding that the protests "aren't productive" and weren't good for tourism.

"If the jobs they are trying to get rid of in this city -- the people that work in finance, which is a big part of our economy -- go away, we're not going to have any money to pay our municipal employees or clean our parks or anything else."

The protests have since expanded to other U.S. cities from Tampa to Seattle, picking up support from unions eliciting the sympathy of some senior political and financial officials.

On Wednesday, about 5,000 people marched on New York's financial district, the biggest rally so far, swelled by nurses, transit workers and other union members. Dozens of people were arrested and police used pepper spray on some protesters.

Wall Street is the pillar of the New York state economy, making up 13 percent of tax contributions.

"The protests that are trying to destroy the jobs of working people in this city aren't productive," Bloomberg said. "At the same time I'm sympathetic to some of their complaints." "There are some people with legitimate complaints."

The protesters are angry about the 2008 Wall Street bailout that critics say let banks enjoy huge profits while average Americans suffered high unemployment and job insecurity.

In addition to the bailout, protesters have raged against corporate greed and influence over American life, the gap between rich and poor, and what they see as hapless, corrupt politicians.

Bloomberg's comments came a day after President Barack Obama and Vice President Joe Biden acknowledged the frustration and anger of the protesters.

New York Governor Andrew Cuomo has also said he understood the anger being felt by the protesters but had to balance that with the economic importance of Wall Street to the state.

(Reporting by Barbara Goldberg; Writing by Cynthia Johnston; Editing by Greg McCune)

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Comments (16)
TommyAD wrote:
Whether we like it or not, the finance industry is is 35% of Manhattan’s economy. It directly employs almost 300,000 people, and indirectly almost as many again. Over a half million people depend on the finance business for their livelihood in New York City. Over 90% of those people aren’t “fat cat” bankers. They’re just secretaries, bookkeepers, computer techs, analysts, clerks, and janitorial. Anything that damages the US finance industry turns Manhattan into Detroit.

Oct 07, 2011 9:18pm EDT  --  Report as abuse
Alexander_Sr wrote:
Mayor Bloomberg has it just alittle backwards. His buddies down on Wall Street are the one’s that destroyed jobs because of their greed in the earlier years before 2008.

Oct 07, 2011 9:35pm EDT  --  Report as abuse
DrBilly wrote:
Bloomberg exemplifies the very problem that is being protested—the arrogance of the 1 percent. The mayor cannot see that it’s the over-entitlement of people like him that is being protested—not the jobs. Talk about arrogance, traders themselves protest if they don’t make as much money in a day as average person makes in a year. Bloomberg makes that much every ten minutes! It’s the same lesson from Rome: the rich get richer until the system collapses. So, ask yourself, mister, how many jobs you going to have in N.Y after the whole system collapses? I know. Your money is already going overseas, so why should you care?

Oct 07, 2011 9:56pm EDT  --  Report as abuse
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