Biden: Wall St protests show Americans see system unfair

Reuters News
Posted: Oct 06, 2011 11:24 AM

WASHINGTON (Reuters) - The spreading protests against Wall Street show that the American people are angry about worsening economic disparities, Vice President Joe Biden said on Thursday.

"Let's be honest with each other. What is the core of that protest? The core is the bargain has been breached with the American people. The American people do not think the system is fair," Biden told the Washington Ideas Forum.

He added that the motivation behind the Occupy Wall Street protests, which moved to Washington on Thursday and has inspired some college protests, has "a lot in common with the Tea Party."

Biden also said that "banks are part of the problem in the economy."

The decision by Bank of America to improve its profits by imposing a $5 monthly fee on usage of debit cards has outraged Americans who put the financial health of their country on the line to bail out banks, he said.

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"At a minimum they are tone deaf," Biden said of Bank of America, adding that at worst they are not paying their fair share.

(Reporting by Stella Dawson and Andy Sullivan, Editing by Sandra Maler)