Nobel-winning economist supports ‘Occupy Wall Street’

By Stephen C. Webster
Tuesday, October 4, 2011

Nobel Prize winning economist Joseph Stiglitz showed up at “Occupy Wall Street” this week to show his support for the protest and clearly outline what he sees as the worst crimes of the American financial sector.
In a brief speech amplified by an “echo chamber” of protesters (who shouted Stiglitz’s own words as a group because they’re banned from using megaphones), the Colombia University professor said that Wall Street had become wealthy by “socializing losses and privatizing gain,” calling it a scheme that’s “not capitalism.”