Greek contagion is spreading across the Atlantic. Not in the form of widening yield spreads and plunging bank stocks but in the form of protests.

On Saturday, a splinter group of Occupy Wall Street, Occupy LA gathered outside City hall. Their beef? Bank bailouts, bonuses and unemployment. They are "the 99%": those that will "no longer tolerate the greed and corruption of the 1%".

Ana Kasparian, co-host of the Young Turks, an online news show with over a million views, posted on twitter, "Time to end corporate greed."

I have sympathy for the girl in the picture above but my response to a lot of these protests is: "Let he who has no credit card cast the first stone."

We live under the edicts of capitalism, with the ups comes the downs. Many of the general public are as guilty as the big corporates of  taking advantage of easy credit when it was free-flowing and no questions were asked.

As Allister Heath wrote in City AM: "Capitalism is a great system when it is allowed to work properly – and that means big rewards when things go well and big losses when things go badly. We are now in a latter scenario – and yet once again the establishment wants to socialise losses and prevent a natural correction."