#OccupyWallStreet
  • Update: Sorry folks, looks like another disappointment. Per the WSJ's Tamer El-Ghobashy, "#Radiohead spokesperson: “we can officially say its not happening” re: #occupywallstreet performance."



    http://www.zerohedge.com/news/radiohead-play-occupywallstreat-event-4-pm

  • btw, that last pepper spraying thing, wasn't too smart. now everybody is in it.


    Occupy Wall Street gets support from MoveOn, trade unions, community groups

    Signs and chants will likely call for an extension of the so-called
    millionaires' tax and a roll-back of state budget cuts. They will also
    likely show support for New York Attorney General Eric Schneiderman's
    position that a proposed settlement between banks and attorneys general
    over troubled mortgage pools is too lenient.


    Organizers of the march said they aren't looking to take control of the
    Occupy Wall Street protest, which has captured headlines since it began
    nearly two weeks ago, but add to it.


    “We're not trying to grab the steering wheel or to control it,” said
    Michael Kink, executive director of the Strong Economy For All
    coalition. “We're looking to find common cause and support the effort.
    It's the right fight at the right time and we want to be part of it.”

  • United Steelworkers union, North America's largest, joins Occupy Wall Street


    Leadership of the United Steelworkers (USW), with 1.2 million active and retired members, issued a statement on Friday in support of the Occupy Wall Street protest movement.
    "[The USW] stands in solidarity with and strongly supports Occupy Wall
    Street. The brave men and women, many of them young people without jobs,
    who have been demonstrating around-the-clock for nearly two weeks in
    New York City are speaking out for the many in our world."
  • Nurses and Laborers' unions support Occupy Wall Street


    National Nurses United:


    [T]the nation’s largest registered nurses union and
    professional association, representing 170,000 direct care RNs, stands
    in support of, and in solidarity with, the ongoing OcuppyWallStreet.org
    street protests and rallies.  

    We applaud the commitment, savvy and sacrifice exhibited by the
    multitude of students, union members, clergy, and many others from all
    walks of life who have come together to loudly and clearly place the
    blame for the nation’s pain where it belongs.  Wall Street caused the
    financial crisis and we share your demand that Wall Street pay us back.  



    And Terry O'Sullivan, president of the Laborers' International Union of America, issued a statement saying:


    Wall Street caused our economic crisis, and yet corporations are attempting to force working people to pay for it.

    The only way to turn back the assault is to strengthen unions and build movements, such as Occupy Wall Street.


    The workers who build America – the half-million men and women of
    LIUNA – are united behind the fight against corporate tyranny and for
    economic prosperity for all and stands with the Occupy Wall Street
    movement in New York City and across the United States.





  • Writing in The Nation, Allison Kilkenny offers an angry rebuttal to Ginia Bellafante's NYT
    article on the Occupy Wall Street demonstration, which paints the
    protesters as "scatterbrained, sometimes borderline-psychotic
    transients." Kilkenny attended the same demonstration, and while she
    also saw "super-loud and eye-catching" demonstrators, she mostly found
    herself talking to everyday people who'd lost everything, like Matthew, a
    40 year old father of two: "My home has been seized, I’m unemployed,
    there’s no job prospects on the horizon. I have two children and I don’t
    see a future for them. This is the only way I see to effect change.
    This isn’t a progressive issue. This is an American issue."



    While the left loses the valuable organizational mechanism of unions,
    the right has gained corporate masters like the Koch brothers to
    disseminate millions of dollars into astroturfing campaigns to organize
    and destroy on their behalf. While the left makes signs, the right has
    already deployed troupes to scream at town hall events.


    These are the kinds of massive oppositional forces activists find
    themselves facing these days: an incredibly oppressive police state and a
    corporate cash monster bearing down on them from the right. Meanwhile,
    their union support army is either in retreat or preoccupied fighting
    other battles on other fronts in Wisconsin or Ohio, or one of the other
    forty-eight states where anti-union legislation was introduced this year
    courtesy of ALEC, a front group that serves as proxy for corporate
    interests.


    Instead of bemoaning the fact that protesters haven’t arrived in
    matching uniforms with a coherent PowerPoint presentation, these are the
    issues we should be addressing. Of course the majority of Zuccotti Park
    occupiers are young, brash and lost. They’d have to be to do something
    like this, and risk getting hypothermia for the chance to be ignored and
    belittled by the media. Young people are always the first ones willing
    to risk comfort and security for the romantic vision of a better
    tomorrow.

    http://boingboing.net/2011/09/29/whos-occupying-wall-street-and-why-is-the-nyt-only-interested-in-the-kooks.html


    NYTimes isn't going to survive this protest. They gonna come out as stooge for the status quo after this is over.

  • 3:30 PM PT: janosnation reports as follows:


    Have been in touch with the NLG.  I was down at OWS with
    some of the legal observers. I am a NY attorney.  Obviously their phone
    lines are being overwhelmed by the people who have been arrested.  

    It's unclear what exactly will happen next.  If they are arraigned in
    the morning, I imagine they will either get summonses for November,
    like other OWS arrestees, or the charges will be dropped, so the city
    doesn't have a repeat of the 2004 convention fiasco.  


    I just got home, so I won't have new info for a while, but hope this helps.

    http://www.dailykos.com/story/2011/10/01/1021925/-Brooklyn-Bridge-Arrests:-Lawyers,-its-now-on-us-?via=siderecent


    • Brooklyn Bridge occupied. Protesters marched to the Brooklyn Bridge, occupied car lanes and shut down all traffic:

      (@jopauca/Twitpic)


    • Mass police arrests in response. Police made, and are
      continuing to make, mass arrests on the bridge in response to this
      occupation. One of the arrests appears to have been of an underage girl.
      From the Gothamist:
      Update 4:26 p.m.: Police have no arrived on the scene and have started arresting protesters en masse [...]

      Update 4:40 p.m.: Protesters are chanting "Let us go" as police seem
      to be going around arresting people at random. Police could be seen
      arresting a very young looking girl (15-17 from what we can tell), and
      people are screaming that they are arresting a "little girl" for no
      reason.



      Here's a screencap. The girl in question is in the yellow hat:


    http://www.dailykos.com/story/2011/10/01/1021936/-Occupy-Wall-Street:-Brooklyn-Bridge-occupied,-mass-arrests,-solidarity-events?via=blog_1
  • The core of internet left is now squarely behind occupywallstreet.  It'll be hard to unstick the net now.

    next are SUNY, NYU and Columbia U students. If they join, specially Columbia U, then it will snowball very quickly. After that it's all about Boston. Those wall street crooks better start thinking where they stashed their loot and think about paying back all of them.
  • NYTimes get cought working for the man.

    http://www.dailykos.com/story/2011/10/02/1022016/-New-York-Times-changes-its-story-on-blame-for-Brooklyn-Bridge-arrests?via=siderec

    FreakOutNation has posted a couple of screen shots
    to show that the New York Times has changed its story about the
    Brooklyn Bridge arrests in a subtle but important way to shift the blame
    to protesters:


    image


    After allowing them onto the bridge, police cut off and arrested dozens of Occupy Wall Street protesters.

    became
    In a tense showdown over the East River, police arrested
    hundreds of Occupy Wall Street demonstrators after they marched onto the
    bridge's Brooklyn=bound roadway.



    That change (and at least one other) took place over the course of 20 minutes. Check out the original story.

  • New York Times’ Andrew Ross Sorkin Sneers At Wall Street Protesters, Estimates Only 80 There

    The Occupy Wall Street protests have grown every day since they began two weeks ago. In the past 24 hours, they have expanded to Chicago, Boston, Los Angeles, and other major cities as thousands have gathered to demand economic justice
    and an end to big bank dominated politics. But according to a top Wall
    Street reporter at the New York Times, the protests don’t appear to
    really exist — and if they do exist, perhaps only 80 people have shown
    up.



  • At one stage 500 protesters were blocked off by police on the bridge. At
    least one journalist, freelancer Natasha Lennard for the New York
    Times, was among those arrested. "About half way across the group of
    people who wanted to occupy the bridge launched their action and stepped
    into the road. They wanted to get arrested. It was sort of the idea,"
    said Yaier Heber, one of the marchers.


    But others said the sit-down protest appeared to happen only after the
    protesters were deliberately blocked off by police after actually being
    allowed onto the roadway. "They met the police line and ended up being
    arrested one by one," said Damon Eris, another protester.


    The march ended in chaotic scenes with police buses driving up the
    bridge to be filled with arrested marchers. The packed buses then drove
    off to central booking. Meanwhile, other marchers waited at the bottom
    of the bridge's Manhattan side and cheered as some released protesters,
    or those who had escaped being blocked off, came back down. "Let them
    go! Let them go!" was a frequent chant.

    http://boingboing.net/2011/10/01/more-than-700-occupy-wall-street-protesters-arrested-on-brooklyn-bridge.html

  • These people obviously still doesn't grasp the basic method and strategy, which is to make sure  how the  coopted and broken system is exposed. That the public will notice the degree of corruption. Can't wait until they finally figure out these type of protest will last months if not years.

    Bloomberg can play the game, but he will have no say how it will end.

    http://www.businessinsider.com/video-of-police-walking-in-front-of-protesters-on-the-brooklyn-bridge-2011-10

    So far we've seen no evidence of police actually encouraging protesters to go on the road, but there are videos that show police walking in front of the protesters, as they go up onto the road.


    This isn't the same as encouraging them to go on the road, but on the
    other hand, you could see why people in a crowd would think that going
    on a bridge is kosher if the police are calmly walking in front of the
    crowd as they go up the road.


    Here are two videos. The first, via Andrew Krucoff, is very short and shows the police clearly leading the way at the very start of the protesters entering the bridge.


  • The Marines are about to Occupy Wall Street

    From a friend of a friend on Facebook:



    "The Marines are coming to Wall St...(to PROTECT the protestors) "I'm
    heading up there tonight in my dress blues. So far, 15 of my fellow
    marine buddies are meeting me there, also in Uniform. I want to send the
    following message to Wall St and Congress: I didn't fight for Wall St. I
    fought for America. Now it's Congress' turn. My true hope, though, is
    that we Veterans can act as first line of defense between the police and
    the protester. If they want to get to some protesters so they can mace
    them, they will have to get through the Fucking Marine Corps first.
    Let's see a cop mace a bunch of decorated war vets. I apologize now for
    typos and errors. Typing this on iPhone whilst heading to NYC. We can
    organize once we're there. That's what we do best. If you see someone in
    uniform, gather together. A formation will be held tonight at 10PM. We
    all took an oath to uphold, protect and defend the constitution of this
    country. That's what we will be doing. Hope to see you there!!"



  • I have to say *hat tip* to the marines for that - good plan.
    I'm impressed by the movement in general actually - it isn't often you see decent mobilisation in a (normally) prosperous country. I hope they get somewhere. 
  • Well, the unemployment rate never been as high and so long as this since the 60's. (Rock n' Roll, Woodstock. era)  Most of the unemployed are the 20's. And this is the most globally aware and informed group of people ever coming out of school. The primary new group on the ground in last election. So, nobody takes political bullshit for an answer.

    Right now it's still a copy of egyptian protest which is really a standard freedom house/regime change crap. Only initial opening. Primarily by people who see how bad things are on the ground. But soon basic true political narrative will emerge once the A-brain type see that the current system fail to adapt, in fact fairly thuggish. They conclude massive protest is the only solution and decide to join the crowd. So watch what's coming out of congress. See if the idiots get the message or not. I think they will keep aggravating the public with piecemeal/petty bickering legislative move ...

    In NYC, it's probably pretty standard, CUNY, SUNY, NYU and finally Columbia U. That's pretty much everybody with functioning brain/who is who in NY.

    I for one think, if the crowd on the street can keep it peaceful for few more weeks longer, the NY police Union will finally caves and join the crowd. Being called 'pig' and laugh at by even corner drugstore kids for next 30 yrs are not going to be pleasant. Then Bloomberg will really have to start worrying what he gonna do next...(probably start yapping on fox News)

    This is last winter before election is coming, once election season hit full force, everybody know it's all Television bullshit and mud slinging. Full retard clown show.

    By January 2013 or so, people are going to start protesting on congress steps and ready to take over the building and kick out every assholes in there.
  • garg, i can't stand this part. Won't somebody stop manual method of transmitting audio in large crowd for complicated speeches?

    Complex speech can't happen using this method. Just let the man speak, record it fully and spread it digitally on the net. ffs. Every single schmo out there has digital media player (go to J&R and got yourself a mini video player for $50 already)

    Make each speech with 10minute pause per video.

    Create digitizing group, responsible for making, loading and archiving as many speech and event electronically.
  • Like watching theater of fools. Why does everything look the same everywhere?

    Let's see how quickly they bring out the tear gas. Then in NYC, fatal shooting.

    I for one am counting on the protest keep being peaceful, and NYC police finally breaking down after getting massive bad rap from public. Few more of this, even they can't stand it themselves.



    http://www.dailykos.com/story/2011/10/05/1023257/-Video-of-Baton-Beatings-1-Hour-Ago-OccupyWallStreet-UPDATE:-Officer-Connolly-is-The-Cop?via=siderec

    http://www.businessinsider.com/wild-footage-of-cop-swinging-billy-club-at-protesters-at-occupy-wall-street-2011-10


  • Friends in San Francisco, Los Angeles, New York, and other cities around
    the U.S. are sharing tweets, photos, and texts with me today about Occupy Wall Street and spinoff demonstrations. I was on IM with Boing Boing pal Joe Sabia in New York City, who co-curates Boing Boing's in-flight video channel on Virgin America airlines, and he abruptly signed off: "GTG. JOINING THE PROTEST."


    Moments later he texts me from his phone, out in the streets: "A
    protest just came by, and I spontaneously joined. Kind of amazing. About
    a thousand NYU and New School students coming in from Washington Square
    Park to Wall Street." And a few minutes after that, "This is definitely
    more than a thousand."



    The New York Observer reports on numbers at nearby Foley Square:



    Union members representing the AFL-CIO (AFSCME), TWU
    Local 100, and SEIU 1199, among others, were scheduled to join the
    protesters, and it’s an older crowd than previous marches. Occupy Wall
    Street organizers are estimating the crowd to be 10,000 people.



    Filmmaker Michael Moore tweets: "#OccupyWallStreet has shut down Broadway. Wow. NYPD prohibiting traffic."


    Meanwhile, I see friends Doc Pop and Quinn Norton
    live-tweeting protests in San Francisco. "Today's #occupywallstreet
    protest in SF is surprisingly big," Doc Pop writes, with the photo
    above, "A solid group about 3 blocks long."

    http://boingboing.net/2011/10/05/occupy-everywhere.html

  • It’s brutally important that we, as members of the Democratic Wing of
    the Democratic Party, speak up about these “bipartisan” travesties.
    Otherwise, at the end of the day, we’re just another bunch of
    hypocrites—doing exactly what the wingers and the MSM do—spewing forth
    political propaganda.


    As Bill Moyers recently noted it, "America Can't Deal With Reality -- We Must Be Exposed to the Truth, Even If It Hurts.

    http://www.dailykos.com/story/2011/10/06/1023345/-NYT’s-Editors,-Yves-Smith,-et-al:-It’s-Time-For-Democrats-To-Take-A-Good-Look-In-The-Mirror?via=siderecent

    And make no mistake about the role of Third Way. Third Way
    runs the policy apparatus of the Democratic Party. In Congress, staffers
    attend regular Third Way policy briefings, where the group hands out
    pre-packaged legislative amendments in legal form, generic press
    releases, polling around those policy ideas, and talking points. It’s a
    soup-to-nuts policy apparatus. Most of these ideas are harmless – like
    increased volunteerism – but some are not, like various tax proposals.

    The group has enormous juice. On the Congressional side, it has six honorary Senate co-Chairs,
    and seven House-side co-Chairs. Jim Clyburn, a co-Chair, is in the
    House Democratic leadership. Two current cabinet members are former
    co-Chairs. Steny Hoyer, the House minority whip, held regular briefings
    for the freshmen member staff in the last Congress.


    On the administration side, former Third Way board member Bill Daley
    is now White House chief of staff. Ron Klain, who was Biden’s Chief of
    Staff, is now with Third Way. The White House is pretty much full of Third Way-style apparatchiks.


    Third Way also echoes, nearly entirely, the White House’s political
    line (though it is slightly ahead on gay rights). Here’s Third Way
    praising the Gang of 6 talks, opposing cut, cap, and balance, encouraging entitlement cuts, pushing various free trade agreements.


    Finally, most of the Board members are from the FIRE Sector (Wall Street and real estate), including the head of equity trading for Goldman Sachs and one of the heads of investment banking for Morgan Stanley.


    It’s a highly optimized political operation for the White House and
    Congressional Democrats, with PR muscle, elite validators, access, and
    policy-making infrastructure.



    By Stuart Zechman, an entrepreneur and technologist, co-founder
    with Jay Ackroyd of the blog “Political Lagoon, and a frequent commenter
    at TIME Magazine’s political blog “Swampland”.


    Well, well, well.

    It seems as if some of you purists out there have been grumbling again about the President’s latest “jobs legislation,” even though his recent speech to Congress contained some cautiously populist rhetoric designed to get you to clap, vote and give your hard-earned money to his re-election campaign. How predictable of you movement liberals, never giving Our President credit for anything. What exactly do you people want, a Works Progress Administration, or something equally rife with New Deal orthodoxy?

    Don’t you movement liberals understand that our neoliberal, Third Way program is the least rightist agenda that can ever be achieved in the United States? Haven’t you been listening to Dem-leaning pundits? Are you still insisting that there could actually be a separate, distinct, movement liberal, political-economic philosophy than what is currently held by the “center-left coalition” that runs the Democratic Party and its associated message shops and think tanks? Don’t you get that, if you’re anywhere left of movement conservatives, we’re all there is?

    What is wrong with you magical-thinkers? Why can’t you accept that political reality dictates that you not exist!
  • The youth behind the original movement are organized into factions or committees,
    including legal, medical, and finance, and they are pulling away from
    association with the union protest movement now. The people behind the
    original movement recognize that their strength is in their youth, and
    we found little evidence to confirm reports that they're not organized.


    They now have $40,000 in the bank, in an account at Amalgamated Bank.


    "At first, Victoria [Sobel, one of the movement's unofficial leaders]
    was sleeping with $10,000 in the park," says Darrell Prince, who works
    on the finance team. He and others on the team wear a gold "$" sign as
    an elbow patch to identify themselves.

    http://www.businessinsider.com/the-occupy-wall-street-protesters-have-40000-in-the-bank-2011-10

  • ryan_meets_wall 4 points 54 minutes ago

    I
    think what is making me angry is the people lambasting this movement.
    Because God knows I am tired of hearing about how Americans don't care,
    we're ignorant, etc etc. We finally decide to start standing up and
    there are idiots saying "whatre you doing sit back down."



    This is significant, if for no other reason than the fact that hey,
    there is life out there. Americans are not quite as stupid as they seem.
    More importantly, they are from all walks off life, which says
    something else too. If you don't want in, then get out of the way, that
    is what I say.


  • Discipline Needed


    It isn’t hard to see what Republican-controlled
    legislatures are trying to do. They want to make sure that the kind of
    free-floating anger expressed by Occupy Wall Street doesn’t end up
    helping Obama’s reelection. The claim that the purpose of the new
    election laws is to prevent voter fraud is itself a fraud, given that
    there’s no widespread evidence of ballots cast under assumed identities.


    To make something lasting of this movement, the
    left must move from legitimate moral outrage to a disciplined approach
    for electing candidates who want to make Wall Street more answerable for
    the mess we’re in. Even as they’re outspent by the Koch brothers and
    their corporate ilk, the 99 percenters will make 2012 a helluva lot more
    compelling.

    http://www.businessweek.com/news/2011-10-06/why-occupy-wall-street-should-scare-republicans-jonathan-alter.html


    yadda yadda bla bla... (The TV people still can't figure out why they can't find coherent message. heh. keep looking and print it all out... )

  • Come and see the violence inherent in the system

  • The protestors aren’t necessarily anti-capitalist or anti-corporation
    per se.  They are anti the current system.  The system that they have no
    influence over and yet controls their lives.  The system that has seen
    average real wages remain flat for decades while inflation slowly exacts
    its insidious costs.  The system that pushes forward fake politicians
    with movie star smiles, populist rhetoric and polished speaking styles,
    whose sole mission once elected is to maintain the status quo for the
    wealthy individuals and corporations that got them elected.  The system
    that prints out of thin air and borrows from third world China and
    elsewhere trillions of dollars to bail out the wealthy while sending the
    bill the average taxpayer.  The system that will produce, for the first
    time in the history of the United States of America, a current
    generation of young citizens who will be worse off than their parents
    were before them.

    http://www.zerohedge.com/news/guest-post-economic-punctuated-equilibrium
  • It will be fairly standard co--intelpro type of stuff at the opening. That's why at the opening, it is useful to have establishment think this movement can give them political gain of some sort.

    next... it is  important to have as many people with camera and point it at "media" when they start manufacturing story. ... This will start soon. (The guy who start acting funny, and the media who manufacture narrative.)

    http://my.firedoglake.com/spocko/2011/10/06/techniques-the-corporate-powers-will-use-to-destroy-the-ows-movement/

    Yesterday morning a retired military officer friend (RMOF) and I were
    conversing about what might happen next with the Occupy Wall Street
    movement. Since Michael Westen of Burn Notice or Annie Walker from
    Covert Affairs weren’t available, he offered some thoughts from the
    point of view of a non-fictional character who studies this stuff. I,
    as a media watcher and activist wanted to talk about how the media and
    power players will deal with the various actions and what we can do to
    predict the media’s actions so we can get ahead of news and prepare. I
    also have delusions of influencing the narrative, but I’m afraid that
    shuttle craft might have left the ship.


    Here are a few of his thoughts and some of my questions, predictions and suggestions.


    RMOF:    I expect “trouble” soon. I don’t expect it from the protestors, but plants put in by the plutocrats or by violent individuals.


    Spocko:    Definitely. The media LOVE plants because they will create the kind of action that makes for good TV.
    What they are not good at is tracking down who has started the action
    and just how connected they really are to the movement. Today our new
    media can help. We already identified Deputy Inspector Anthony Bologna,
    the cop who pepper sprayed the penned in girls. I doubt the MSM have
    diligently tracked him down if only they had the footage. Even if they
    did it would be days later and they would have had to go though official
    channels.


  • Bank profits are highest since before the recession…: According to the Federal Deposit Insurance Corp., bank profits in the first quarter of this year were “the best for the industry since the $36.8 billion earned in the second quarter of 2007.” JP Morgan Chase is currently pulling in record profits.


    …even as the banks plan thousands of layoffs: Banks, including Bank of America, Barclays, Goldman Sachs, and Credit Suisse, are planning to lay off tens of thousands of workers.


    Banks make nearly one-third of total corporate profits: The financial sector accounts for about 30 percent of total corporate profits, which is actually down from before the financial crisis, when they made closer to 40 percent.


    Since 2008, the biggest banks have gotten bigger:
    Due to the failure of small competitors and mergers facilitated during
    the 2008 crisis, the nation’s biggest banks — including Bank of America,
    JP Morgan Chase, and Wells Fargo — are now bigger than they were pre-recession. Pre-crisis, the four biggest banks held 32 percent of total deposits; now they hold nearly 40 percent.


    The four biggest banks issue 50 percent of mortgages and 66 percent of credit cards: Bank of America, JP Morgan Chase, Wells Fargo and Citigroup issue one out of every two mortgages and nearly two out of every three credit cards in America.


    The 10 biggest banks hold 60 percent of bank assets: In the 1980s, the 10 biggest banks controlled 22 percent of total bank assets. Today, they control 60 percent.


    The six biggest banks hold assets equal to 63 percent of the country’s GDP:
    In 1995, the six biggest banks in the country held assets equal to
    about 17 percent of the country’s Gross Domestic Product. Now their
    assets equal 63 percent of GDP.


    The five biggest banks hold 95 percent of derivatives:
    Nearly the entire market in derivatives — the credit instruments that
    helped blow up some of the nation’s biggest banks as well as
    mega-insurer AIG — is dominated by just five firms: JP Morgan Chase, Goldman Sachs, Bank of America, Citibank, and Wells Fargo.


    Banks cost households nearly $20 trillion in wealth: Almost $20 trillion in wealth was destroyed by the Great Recession, and total family wealth is still down “$12.8 trillion (in 2011 dollars) from June 2007 — its last peak.”


    Big banks don’t lend to small businesses: The New Rules Project notes that the country’s 20 biggest banks “devote only 18 percent of their commercial loan portfolios to small business.”


    Big banks paid 5,000 bonuses of at least $1 million in 2008:
    According to the New York Attorney General’s office, “nine of the
    financial firms that were among the largest recipients of federal
    bailout money paid about 5,000 of their traders and bankers bonuses of more than $1 million apiece for 2008.”

    http://thinkprogress.org/economy/2011/10/07/338887/1-facts-biggest-banks/

  • http://www.reddit.com/r/politics/comments/l5fsv/peter_king_rny_says_we_have_to_be_careful_not_to/

    O no don't let the people effect policy!! That's un-american and
    undemocratic!! These right-wing politicians/pundits are absolutely
    ridiculous. This is what America is about
  • But if Occupy Wall Street coalesces into something like a real
    movement, the Democratic Party may have more difficulty digesting it
    than the GOP has had with the Tea Party.


    After all, a big share of both parties’ campaign funds comes from the
    Street and corporate board rooms. The Street and corporate America also
    have hordes of public-relations flacks and armies of lobbyists to do
    their bidding – not to mention the unfathomably deep pockets of the Koch
    Brothers and Dick Armey’s and Karl Rove’s SuperPACs. Even if the
    Occupiers have access to some union money, it’s hardly a match.


    Yet the real difficulty lies deeper. A little history is helpful here.


    In the early decades of the twentieth century, the Democratic Party
    had no trouble embracing economic populism. It charged the large
    industrial concentrations of the era – the trusts – with stifling the
    economy and poisoning democracy. In the 1912 campaign Woodrow Wilson
    promised to wage “a crusade against powers that have governed us … that
    have limited our development … that have determined our lives … that
    have set us in a straightjacket to so as they please.” The struggle to
    break up the trusts would be, in Wilson’s words, nothing less than a
    “second struggle for emancipation.”


    Wilson lived up to his words – signing into law the Clayton Antitrust
    Act (which not only strengthened antitrust laws but also exempted
    unions from their reach), establishing the Federal Trade Commission (to
    root out “unfair acts and practices in commerce”), and creating first
    national income tax.


    Years later Franklin D. Roosevelt attacked corporate and financial
    power by giving workers the right to unionize, the 40-hour workweek,
    unemployment insurance, and Social Security. FDR also instituted a high
    marginal income tax on the wealthy.


    Not surprisingly, Wall Street and big business went on the attack. In
    the 1936 campaign, Roosevelt warned against the “economic royalists”
    who had impressed the whole of society into service. “The hours men and
    women worked, the wages they received, the conditions of their labor …
    these had passed beyond the control of the people, and were imposed by
    this new industrial dictatorship,” he warned. What was at stake,
    Roosevelt thundered, was nothing less that the “survival of democracy.”
    He told the American people that big business and finance were
    determined to unseat him. “Never before, in all our history, have these
    forces been so united against one candidate as they stand today. They
    are unanimous in their hate for me, and I welcome their hatred!”


    By the 1960s, though, the Democratic Party had given up on populism.
    Gone from presidential campaigns were tales of greedy businessmen and
    unscrupulous financiers. This was partly because the economy had changed
    profoundly. Postwar prosperity grew the middle class and reduced the
    gap between rich and poor. By the mid-1950s, a third of all
    private-sector employees were unionized, and blue-collar workers got
    generous wage and benefit increases.


    By then Keynesianism had become a widely-accepted antidote to
    economic downturns – substituting the management of aggregate demand for
    class antagonism. Even Richard Nixon purportedly claimed “we’re all
    Keynesians now.” Who needed economic populism when fiscal and monetary
    policy could even out the business cycle, and the rewards of growth were
    so widely distributed?

    http://www.businessinsider.com/the-wall-street-occupiers-and-the-democratic-party-2011-10

  • As movement spreads, NY mayor slams protesters for 'trying to destroy' jobs

    http://edition.cnn.com/2011/10/08/politics/occupy-wall-street/?hpt=ibu_c2


    In March 2009, Forbes reported Michael Bloomberg's wealth at $16
    billion, a gain of $4.5 billion over the previous year, enjoying the
    world's biggest increase in wealth in 2009

    In 1973, Bloomberg became a general partner at Salomon Brothers where he headed equity trading, and later, systems development. In 1981, he was fired from Salomon Brothers and was given a $10 million severance package.[15] Using this money, Bloomberg went on to set up a company named Innovative Market Systems. In 1982, Merrill Lynch became the new company's first customer, installing 22 of the company's Market Master terminals and investing $30 million in the company. The company was renamed Bloomberg L.P.
    in 1986. By 1987, it had installed 5,000 terminals. Within a few years,
    ancillary products including Bloomberg Tradebook (a trading platform),
    the Bloomberg Messaging Service, and the Bloomberg newswire were
    launched. As of 2009, the company had more than 250,000 terminals
    worldwide. His company also has a radio network which currently has its
    flagship station as 1130 WBBR-AM in New York City.
    He left the position of CEO to pursue a political career as the mayor
    of New York. Bloomberg was replaced as CEO by Lex Fenwick. The company
    is now led by president Daniel Doctoroff, a former deputy mayor under Bloomberg.

    http://en.wikipedia.org/wiki/Michael_Bloomberg


  • …The problem is that no one in Washington has been listening.


    At this point, protest is the message: income inequality is grinding
    down that middle class, increasing the ranks of the poor, and
    threatening to create a permanent underclass of able, willing but
    jobless people. On one level, the protesters, most of them young, are
    giving voice to a generation of lost opportunity…


    …The protests, though, are more than a youth uprising. The
    protesters’ own problems are only one illustration of the ways in which
    the economy is not working for most Americans. They are exactly right
    when they say that the financial sector, with regulators and elected
    officials in collusion, inflated and profited from a credit bubble that
    burst, costing millions of Americans their jobs, incomes, savings and
    home equity. As the bad times have endured, Americans have also lost
    their belief in redress and recovery.


    The initial outrage has been compounded by bailouts and by elected
    officials’ hunger for campaign cash from Wall Street, a toxic
    combination that has reaffirmed the economic and political power of
    banks and bankers, while ordinary Americans suffer…


    …When the protesters say they represent 99 percent of Americans, they
    are referring to the concentration of income in today’s deeply unequal
    society…


    …No wonder then that Occupy Wall Street has become a magnet for
    discontent…The country needs a shift in the emphasis of public policy
    from protecting the banks to fostering full employment, including public
    spending for job creation and development of a strong, long-term
    strategy to increase domestic manufacturing…

    http://www.dailykos.com/story/2011/10/09/1024419/-Reich,-Smith,-Dayen,-Krugman,-NYT,-et-al:-Why-OccupyWallStreet-Doesnt-Support-ObamaYet?via=siderecent


    *chuckle* The idiot at NYTimes isn't as stupid as I thought. They are changing their tune. I guess they see how this protest going to evolve...

    Stick around NYTimes. You might actually make money and restore some credibility if you keep it up.

    You have some value, in that a lot of insular uptowners think people actually still read newspaper for news. ... The street needs away to prick their bubble somehow. You are the only crappy newspaper left before reaching Murdoch tabloit.
  • The Administration’s strategy for maintaining this posture is by
    being anti-investigation and anti-transparency. As we’ve discussed, the
    stress tests were a sham. The foreclosure task force didn’t even try to
    look serious, it was a mere 8 week investigation and of 2800 cases
    chosen for review (in no scientific manner), only 100 were foreclosures. The US Trustee’s office found a level of servicing errors more than 10 times that asserted by banks and happily parroted by Federal banking regulators. We expect readers could add to this list just as readily as we can.


    There are plenty of grounds for legal action. Contrary to the Obama/Geithner position, this is a target rich environment.

    http://www.nakedcapitalism.com/2011/10/why-occupywallstreet-doesnt-support-obama-his-nothing-to-see-here-stance-on-bank-looting.html

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