Friday, October 7, 2011

Occupy Wall Street protests spread as Obama weighs in

The Occupy Wall Street protests are scheduled to go on Friday as the grassroots movement continues to grow, spread to other cities and grab the attention of the president.

President Barack Obama said Thursday that the demonstrators are giving a voice to those frustrated with the financial system as protests popped up in more than a dozen American cities.

Speaking at a White House news conference, Obama also defended the country's financial sector, which appears to have taken the brunt of protester criticism, focusing on Wall Street and its regulators' purported role in widening economic disparities.

"We have to have a strong, effective financial sector in order for us to grow," the president said Thursday.