LA City Council supports Occupy LA crowds


The protests have been going on for nearly two weeks.

One Occupy L.A. protester vented his anger at the down economy with a song for nearly three hours. The rest of the demonstrators urged the city council to pass a resolution supporting them and to pass a responsible banking ordinance that was attached to the resolution. One by one, the demonstrators blamed banks for the down economy.

"The reason we are worried that our politicians are so corrupt is because we can make the connections. We understand the way your campaign coffers, your electoral bids get financed by these financial lobbyists," said demonstrator Peter Thottam.

The responsible banking ordinance the city council looked at would set up a report card of how well banks that do business with the city of Los Angeles deal with issues such as foreclosures, loans to small businesses and philanthropy. Banking and business representatives urged the council not to pass it.

"This proposed ordinance will not halt one foreclosure. It will cost the city money to enforce and a new bureaucracy to enforce it," said Carol Schatz of Central City Association.

The city council passed a resolution supporting the demonstrators who have been camped outside City Hall for 10 days.

In New York Wednesday, Occupy Wall Street protesters marched across the Brooklyn Bridge. There have been scores of arrests there and in other similar demonstrations across the country.

Occupy L.A. has been allowed to camp out on the north and south lawns of City Hall as long as they're peaceful.

"We believe that the frustration that the American people are experiencing with this economy is exactly what is at the core of the Occupy movement," said Los Angeles Councilman Richard Alarcon.

See photos of Occupy L.A. protesters outside City Hall.

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