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Protests in U.S. 'giving voice' to broad-based frustration - Obama

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The Occupy Wall Street protests in the U.S. express the frustrations of the American public, U.S. President Barack Obama said on Thursday.

The Occupy Wall Street protests in the U.S. express the frustrations of the American public, U.S. President Barack Obama said on Thursday.

“The protesters are giving voice to a more broad-based frustration about how our financial system works,” Obama said at a White House news conference.

The protests began in New York on September 17. The demonstrators, encouraged by the protests in Egypt, Syria, Tunisia and other countries, condemn the big banks and corporations that reap huge profits while ordinary people lose their jobs and benefits due to the protracted crisis in the United States.

“The financial sector is very creative, and they are always looking for ways to make money,” Obama said. “That’s their job.  And if there are loopholes and rules that can be bent and arbitrage to be had, they will take advantage of it,” he added.

 

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