Occupy protests flaring up across US

Former Navy SEAL Scott Taylor reacts


This is a rush transcript from "Your World," May 1, 2012. This copy may not be in its final form and may be updated.

NEIL CAVUTO, HOST OF "YOUR WORLD": Well, in this environment, it is getting ugly out there, police facing off with Occupiers across the country, this video coming in to us moments ago from Oakland.

One of the protesters' big gripes, big banks, but they might want to be very careful what they wish for -- reports out today that Bank of America wants to get rid of 2,000 more workers.

John Tabacco has been telling these protesters from the start, start occupying a job. And he even offered them jobs.

How did that go, by the way?

JOHN TABACCO, CEO, LOCATESTOCK.COM: Well, we had a -- from my perspective, a very successful day when we held the occupy a desk job fest. We accomplished one...

CAVUTO: It was you and your brother went out, right?

TABACCO: My brother and went out there. And we had 10 small companies that had job opportunities.

And I think it went fantastic, because the point we were really trying to prove was, hey, you guys are complaining about income inequality, you guys are complaining about lack of jobs out there for college students. We are going to bring a whole bunch of jobs right to you. Being that you are occupying and you can't get out there and interview, we will bring some jobs right to the park.

And the point we wanted to make was, even when we bring the jobs right into their own kitchen, they scattered, Neil. And after...

CAVUTO: So, no one was hired?

TABACCO: No one was hired. We did have a few -- not Occupiers, but a few other people who came down and they did get interviews. And I have not followed up on whether or not they got hired.

But the main thing was...


CAVUTO: ... your predecessor here on this very show, did hire a woman.

TABACCO: That's right.

CAVUTO: Right.

TABACCO: And I have been down Zuccotti Park. I have been getting involved and talking to people, trying to figure out if the message is a real message.

And some of the people down there have a good sense. They have a good message. But if you ask me, Neil, what started out as good, energetic, organic movement has changed into a fragmented kind of message that has been hijacked by the left and unions.

CAVUTO: No, I agree with that. It's all over the map.

And you argued in the beginning when they were saying, hey, these institutions that are too big presumably to fail, big banks, and we will always rescue them, that was astounding when you believed that. But then it became sort of like potpourri, right?

TABACCO: Yes. No, I believe that what started as a too-big-to-fail message was a great message.

But the idea was they took this movement that had a great deal of energy, that a whole bunch of kind of intellectual people behind it that were organizing it, and rather than focus it in a spear and point it at federal policies that were supporting too-big-to-fail, they let it get fragmented.

And what they really should be talking about is changing the federal policies and helping the small business man, because large banks and large institutions can go to Uncle Sam and borrow money for zero, but small business men like myself, if we go into the bank, try to get a small business loan, we can't get one, Neil. And we are the people that are creating jobs.

CAVUTO: All right, now, it was relatively calm in New York, as it has been thus far today. Not so in Oakland San Francisco, some of these other places.

But a lot of people say we are going to see a French Revolution-type deal in this country. In other words, what has been going on in Greece, and Italy, and Portugal is coming to our shores.

Does that -- as one of the 0.1 of 1 percenters yourself does that worry you?


TABACCO: Well, if I'm 0.1, then you are even lower than that. There's another zero in there.


TABACCO: But I -- it doesn't worry me.

In fact, when I look at the movement and where it is today, Neil, I feel like the whole movement is now blowing up in their face like one of those trick cigars in the Bugs Bunny cartoons, because what they are out there doing is, they are creating negative sentiment against the banks.

They're asking people not to do business with the banks. And like you said in your opening, Bank of America announced today that they are cutting 2,000 jobs. Most of those jobs that are being cut are mid-level positions. And those mid-level positions are people that are in the 99 percent.

So, their efforts have actually turned the gun back at themselves and they are kind of shooting themselves in the foot, because the more they hurt the banks and the financial institutions, the more these banks and institutions have to cut jobs. And most of the jobs that are getting cut are 99 percenters.

CAVUTO: Amazing.

One of the gutsiest things I have ever seen through this whole protest movement was you and your brother stepping out in the middle of this throng, very nasty, often violent folks, and saying, come on up, we are taking applications.



By the way, your brother is going to be on with me tonight on Fox Business.

TABACCO: Yes. I can't wait to see him. It's his first time on Fox Business. Go easy on him. But let me tell you, that day when we stepped out there, the good men and women of the NYPD were standing right behind us, and we were not scared a minute.

CAVUTO: I wouldn't have come out. But God bless you.


CAVUTO: All right, John Tabacco.

TABACCO: Thank you.

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