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Bank Protesters Too Young To Comprehend Economy, Says Romney

Bank Protesters Too Young To Comprehend Economy, Says Romney

Last week, hundreds of peaceful protesters demonstrated outside of Bank of America’s shareholder meeting in Charlotte, North Carolina, a move presidential candidate Mitt Romney summarily dismissed as ignorant and youthful, reports the NationalJournal.

“Unfortunately, a lot of young folks haven’t had the opportunity to really understand how the economy works,” Romney said in response to the protesters. Oh, and in case you’re wondering, Romney, age 65, is plenty old enough to understand the economy, evidently. “This is a time for new direction for America, and for someone who understands how to get the economy going again – and I do,” Romney added.

Romney believes that it takes age and experience to understand “why we have banks, and what banks do.” Perhaps, then, Romney would agree that the shareholders themselves have a better comprehension of how Bank of America operates. After all, who would better understand a corporation than its investors? In that case, Romney might be surprised by The Washington Post’s report that the protests were not restricted to the streets:

Inside the auditorium at the company’s headquarters, the protests continued. Shareholder after shareholder took the microphone to berate the bank for its handling of foreclosures, its investments in payday lenders, and also investments in the coal industry. On stage, CEO Brian Moynihan’s attempts at sidestepping hard questions or deflecting answers were met with loud jeers. Attendees shouted “amen” after anti-Bank of America statements were made by other shareholders.

Romney’s comments bring up some important questions: how old does someone have to be before they can confidently condemn banks for illegally foreclosing on American families? At what age can you begin to criticize an institution that makes record profits yet pays no taxes? And would a teenager be incorrect for thinking something’s wrong with a bank that needed a federal bailout almost immediately rewarding its executives with multimillion bonuses?

Besides, although Occupy has largely been credited as a movement spurred by a younger generation, attendees of this Bank of America protest represented a wide range of ages from children to the elderly. Does Maria Reyes (who Care2 reporter Aaron Krager interviewed at this protest) seem too young to know what she’s talking about? One thing is for sure: almost all of the protesters are not too young to vote, and most are bound to remember Romney’s condescending attitude come Election Day.

If protesters are indeed too young to “understand how the economy works,” then might it be fair to similarly suggest that Romney is too rich to understand the economy? Surely a multi-billionaire has a vastly different perspective on the economy than the majority of America.

More than likely, all parties involved – regardless of their ages – have an understanding of the economy, with the difference coming in how they apply this knowledge. While the protesters are calling for an economy that works for more than just the 1%, the bankers are using this same understanding to maximize their profits at the expense of others.

Ultimately, Romney’s statements yet again show him siding with the interests of corporations over the people. Why politicians are so quick to dismiss opposition rather than listening to its merits, I’ll never understand. Then again, maybe I will when I’m older.

Related Stories:

99 Power Movement Pushes Back on Bank of America

Romney’s Tax Plan – Rich Get Richer

Protests Target Wells Fargo’s Shareholders Meeting

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Photo Credit: lewisha1990

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71 comments

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6:07PM PDT on Aug 26, 2012

ROBME is old enough to know how to use the loopholes in the tax code to avoid paying his fair share of taxes. RMoney should be disqualified as a presidential candidate as there should be transparency in the finances of a man who is bidding to be the nation's leader. Surely he is old enough to understand lack of accountability is enough for him to be scrapped from the GOP ticket.

1:35PM PDT on May 17, 2012

Beth the only thing they really know how to do is how to get our tax dollars while they are destroying our economy.

1:33PM PDT on May 17, 2012

You can not currently send David K a star because you have already sent him one this week.

1:31PM PDT on May 17, 2012

I suppose Romney said the same thing to all those factory workers that he and Bain destroyed . You just don't understand how the economy works if I'm to make my millions and millions of dollars you must be destroyed.

12:23PM PDT on May 17, 2012

This is another example of Romney's disconnect with the American people. Of course he loves the present system. He sits near the top of the heap of economic bodies on which it is built. In fact, his record shows where the corpses are buried. It is time that the GOP learn that, if they wish us to take them seriously, they should stop spinning, lying, cheating, messing with civil and human rights, and tend to the business of Liberty and Justice for ALL, instead of the Romney Mob.

10:24AM PDT on May 17, 2012

Funny! Judging from the last few years it doesn't seem that the supposedly experienced older 'financial experts' have much understanding of the economy either. Whats' their excuse?

10:23AM PDT on May 17, 2012

Funny! Judging from the last few years it doesn't seem that the supposedly experienced older 'financial experts' have much understanding of the economy either. Whats' their excuse?

9:12AM PDT on May 17, 2012

con't.

social or political awareness or understanding at all.

9:11AM PDT on May 17, 2012

Yet another example of the simplistic dictatorial nature of Romney and the Republicans. Dismiss OWS as insignificant youth in a paternalistic holier than thou conservative upper class attitude, then fire them, because Romney loves to fire people. Maybe we could all ride on the top of his car, because we are not yet human enough to understand what it means to ride with the big boys. Perhaps he is saying the we should not trouble our pretty little heads over the economy and let the real men (bankers) take care of everything.

I am Romney's age, and I want to say that this guy's lack of real intelligence scares me. He is one dimensional corporate. A corporate life does not translate into a social

7:22AM PDT on May 17, 2012

Part I
Quick test to determine whether young people understand the economy:

Fence two small playgrounds, side-by-side, with a small, lockable, gate between them. Put 115 boys’ and 85 girls’ toys in each playground. (Girls’ toys are 75% of boys’ toys.)

Put 49 boys and 51 girls, all of them 5 years old, in each playground. Arbitrarily choose one boy from only one playground (Toy-Boy), and give him 180 of that playground’s toys. Tell the children to play nice, and leave them alone.

Replace the mangled Toy-Boy that had all the toys with a new 5-year-old boy. Give the new Toy-Boy 190 of the toys, and surround him with a bunch of 8-year old boys with nightsticks. Tell the 8 year olds it’s okay to thump anyone who tries to get a toy.

Open the playground-connecting gate. Let the 5 year-old Toy-Boy send as many armed 8 year olds as he wants, or feels he needs, to the other playground to collect toys and bring them back to the Toy-Boy.

If any child on either playground complains about fairness to one of the research observers, tell that child that life isn’t fair, that they just need to “Play harder,” so they can be like the Toy-Boy. Tell the whining complainer that each child has equal access to the toys on the playground; they just have to show initiative.
(Continue to Part II)

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