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Wall Street protests to target NYC millionaires

2011-10-12 06:09:46

By MEGHAN BARR - Associated Press

NEW YORK (AP) The national Occupy Wall Street movement has been heating up

again resulting in about 50 arrests in Boston early Tuesday and plans for a

Manhattan "Millionaires March" to the homes of some of New York City's

wealthiest residents.

The protesters from the Occupy Boston movement were arrested after they ignored

warnings to move from a downtown greenway near where they have been camped out

for more than a week, police said.

Police spokesman Jamie Kenneally said the arrests began about 1:30 a.m. Tuesday

and were mostly for trespassing. A conservancy group recently planted $150,000

worth of shrubs along the greenway and officials said they were concerned about

damage.

Related: 5 facts about the Occupy Wall Street movement

Hundreds of college students marched through downtown Boston on Monday and

gathered on Boston Common, holding signs that read "Fund education, not

corporations." The protesters are angry with an education system they say

mimics "irresponsible, unaccountable, and unethical financial practices" of

Wall Street.

During the York City march on Tuesday afternoon, protesters will bear oversize

checks, intended to symbolize how much less the wealthy will pay when New

York's 2 percent "millionaires' tax" expires in December.

The marchers plan to visit the homes of News Corp. CEO Rupert Murdoch, JP

Morgan Chase CEO Jamie Dimon and oil tycoon David Koch, among others. They

don't have a permit, but will walk in a narrow column so they don't block

sidewalks, according to Doug Forand, a protest leader.

Forand, citing budget cuts affecting schools and senior citizens, said the

state's plan to end the "millionaires' tax" is "unconscionable" and urged

lawmakers to extend it.

Asked if he thought any of the millionaires would be home, Forand replied,

"They don't share their schedules with me, but probably not."

On Tuesday, several hundred protesters marched around the Financial District in

Lower Manhattan.

The police presence is constant, and comes with a price tag. The New York

Police Department already has spent $1.9 million, mostly in overtime pay, to

patrol the area near Zuccotti Park, where hundreds of protesters have camped

out for several weeks. Though cold weather is on the way, they're prepared to

stay put for the long haul.

The expense comes at a time when Mayor Michael Bloomberg has ordered citywide

budget cuts.

"The bottom line is that people want to express themselves, and as long as they

obey the laws, we allow them to," Bloomberg told reporters Monday when asked

about the protesters' staying power. "If they break the laws, then we're going

to do what we're supposed to do enforce the laws."

Last week, Bloomberg ordered all agencies to prepare to cut expenses by a total

of $2 billion during the next 18 months. Police Commissioner Raymond Kelly said

the budget cuts may cause the cancellation of a new class of police officers

entering the academy in January.

Police officials would not comment Monday on whether the Occupy Wall Street

protest would have any bearing on how the budget cuts would play out. A

spokesman for Bloomberg declined to comment on any financial issues.

"We always prefer to not spend overtime, but again, this is a big, complex

city, lots of things going on," Kelly said last week, describing the

protesters' effect on the NYPD. "And we have to spend overtime for unplanned

operations."

The protesters say they're fighting for the "99 percent," or the vast majority

of Americans who do not fall into the wealthiest 1 percent of the population;

their causes range from bringing down Wall Street to fighting global warming.

The movement gained traction through social media, and protests have taken

place in several other cities nationwide.

___

Associated Press writers Laura Crimaldi in Boston, and Kiley Armstrong, Deepti

Hajela, Colleen Long in New York, contributed to this report.