Wall Street

Democratic Debate: Alan Greenspan’s Spouse Should Not Have Co-Hosted

January 21, 2016 Pam Martens and Russ Martens, www.wallstreetonparade.com Educate! Debates, presidential elections, Wall Street

By Pam Martens and Russ Martens for Wall Street on Parade - Leave it to NBC to remind us that corporate media is tone deaf when it comes to facing up to outrageous conflicts of interest. The final presidential debate before the Iowa caucuses and New Hampshire primary aired last night on NBC and was co-moderated by Lester Holt and Andrea Mitchell. Given the public focus on Hillary Clinton’s financial ties to Wall Street, it was clear that hard-hitting policy questions on reforming Wall Street would need to be asked during the debate.

Acronym TV: Greed Is Not Good

January 9, 2016 Dennis Trainor, Jr., www.acronymtv.com Resistance Report Barack Obama, Bernie Sanders, Gun Control, TransCanada, Wall Street

By Dennis Trainor, Jr. for Acronym TV. TransCanada lost its bid to build the Keystone XL pipeline. Now it is using NAFTA and the US Federal courts to seek $15 billion damages – and they way I understand NAFTA, they just might win. All the more reason to make one final push to defeat NAFTA’s big brother in waiting: that Trojan Horse gently knocking at the wall that will usher in a global corporate coup: that is right people, it is time once again to take action against the Trans-Pacific Partnership.

A Message Of Hope For The New Year

January 6, 2016 Jack Balkwill, www.dissidentvoice.org Strategize! #BlackLiveMatter, Antarctica, Banks, Bolivia, BXE, Capitalism, China, Climate Change, Cooperatives, Democracy, Ecuador, Elections, Empire, Energy, Environment, Finance and the Economy, Greece, Kurds, Marijuana, Media, militarism, Occupy, Portugal, Russia, sHellNo!, Spain, TPP, Ukraine, Venezuela, Wall Street, Zapatistas

By Jack Balkwill for Dissident Voice. There have been many victories and we need to celebrate them. Among the victories was stopping the northern portion of the KXL pipeline, various new laws in 24 states to prevent police violence and an increase inprosecutions of police who commit violence, and the increase in wages across the country and winning the critically important battle for net neutrality. These were people-powered victories that showed when we act together we have the power to defeat corporate interests. Another ongoing series of victories is seeing local people, who have not been involved in activism, working along with experienced, often young, energy activists, taking on big energy companies in an aggressive way. This is a victory.

Wall Street Taking Over Nonprofit Sector

January 5, 2016 Dan Wright, www.shadowproof.com Educate! Finance and the Economy, Nonprofits, Wall Street

By Dan Wright for Shadow Proof - While there has traditionally been a close relationship between Wall Street donors and nonprofit organizations like charities and universities, a new study from the Stanford Social Innovation Review (SSIR) reveals a growing Wall Street takeover of nonprofit boards of directors. Using data from what are referred to in the study as major private research universities, elite small liberal arts colleges, and prominent New York City cultural and health institutions, SSIR calculates that “[T]he percentage of people from finance on the boards virtually doubled at all three types of nonprofits between 1989 and 2014.”

2016 Crash Begins – This Time Isn’t Different

January 4, 2016 Tyler Durden, www.zerohedge.com Educate! Finanace and the Economy, Globalization, Recession, Wall Street

By Tyler Durden for Zero Hedge. The reckless herd has been in control for the last few years, but their recklessness is going to get them slaughtered. Corporate profits are plunging. Labor participation continues to fall. A global recession is in progress. The strong U.S. dollar is crushing exports and profits of international corporations. Real household income remains stagnant, while healthcare, rent, home prices, education, and a myriad of other daily living expenses relentlessly rises. The world is a powder keg, with tensions rising ever higher in the Middle East, Ukraine, Europe, and China. The lessons of history scream for caution at this moment in time, not recklessness. 2016 will be a year of reckoning for the reckless herd.

Banks Don’t Always Win Anymore, Are On The Defensive

January 3, 2016 Zach Carter, www.huffingtonpost.com Educate! Banks, Finance and the Economy, Government, Wall Street

By Zach Carter for Huffington Post. Washington, DC - Banks started the year with a long Washington wish list. They wanted to tie up the Consumer Financial Protection Bureau with reams of red tape. They wanted to charge high hidden fees on auto loans -- a practice that disproportionately hits the pocketbooks of people of color. They wanted to poke a big hole in the Volcker Rule, which bans banks from placing speculative securities bets with taxpayer-backed money. They wanted to let banks with assets measured in 12 figures operate with thinner capital cushions and larger amounts of risky borrowed money. They wanted to kill a new rule that would require financial advisers to act in the best interests of their clients (amazingly, this is not already the law). The banks lost every one of these fights.

Not Even Wal-Mart Is Ruthless Enough For Wall Street

October 24, 2015 Pete Dolack, www.systemicdisorder.wordpress.com Educate! Wall Street, Walmart

By Pete Dolack for Systemic Disorder - As ruthless as Wal-Mart is, Wall Street has decided the retailer is not ruthless enough. Incredible though it might seem, financiers have been punishing Wal-Mart in part because the company has raised its minimum wage to $9 an hour. Plans to increase slightly abysmally low pay and invest more money on Internet operations have Wall Street in an ornery mood because profits might be hurt. Is Wal-Mart Stores Inc. about to cease being a going concern? Hardly. For the first three quarters of this year, Wal-Mart has racked up a net income of US$11.8 billion — and the holiday season isn’t here yet. For the five previous fiscal years, the retailer reported a composite net income of $80.2 billion.

Whistleblow Wall Street: Platform To Expose Corruption

October 11, 2015 Staff, www.whistleblowwallstreet.com Resist! Corruption, Finance and the Economy, Wall Street, Whistleblowers

By Staff of Whistleblow Wallstreet - Whistleblow Wall Street provides a platform for banking and financial sector employees to blow the whistle on unfair practices and corruption. From call center workers that aren’t allowed to go to the bathroom, to bank tellers forced to sell predatory products because of unreasonable sales goals, to high level executives that are pressured and rewarded for engaging in illegal practices, Whistleblow Wall Street aims to help financial sector employees root out the worst practices in the financial industry. As we all now know, Wall Street banks wrecked the economy and brought the world to the brink of financial collapse. Meanwhile federal regulators were nowhere to be found, media organizations had already dismantled their investigative units, corporate compliance departments did not dare to question the profit centers, and the creators of highly leveraged securities stole billions of dollars. At WhistleblowWallStreet we are saying, “Never again!”

Message From Plea Deal: Criminal Behavior Rampant On Wall St.

May 21, 2015 Robert Weissman, www.citizen.org Educate! Capitalism, Criminal Justice, Law, Wall Street

There are two messages in today’s plea deal: First, criminality is rampant on Wall Street. Second, the era of too-big-to-jail is alive and well. Even as they beat their chests announcing how tough they are, government regulators refuse to apply to the giant banks the same rules that apply to everyone else. The illegal acts to which the five banks have admitted wrongdoing weren’t accidents or technical violations. They were intentional violations of the law. They were conducted in concert with purported competitors. And they were hidden through use of code words. Many of the five banks are repeat lawbreakers, and the Department of Justice deserves credit for revisiting a prior non-prosecution agreement, and now prosecuting prior crimes at the giant company UBS.

Occupy Revisted: Wall Street Used The FBI To Crush Occupy

April 22, 2015 Redacted Tonight, www.youtube.com Resistance Report Criminal Justice, FBI, Inequality, Occupy, Wall Street

Text: Redacted Tonight’s Lee Camp celebrates Occupy and recent people’s protests like Black Lives Matter and Fight For 15. Three years after Occupy he looks back on the event and calls it a success for changing the conversation to inequality and the unfair economy. The success of Occupy can also be seen in the reaction of the power structure to the protests. Freedom of Information documents show that Wall Street, federal and local law enforcement worked together to put an end it. Populist movements that give a voice to the masses scare the richest one-percenters. A large-scale uprising could undermine our corrupt economic system- so it makes sense for Wall Street, the government and FBI to team up to crush the Occupy.

Stock Market Rigging Is No Longer A ‘Conspiracy Theory’

April 20, 2015 John Crudele, www.nypost.com Educate! Finance and the Economy, Wall Street

The stock market is rigged. When I started making that claim years ago — and provided solid evidence — people scoffed. Some called it a conspiracy theory, tinfoil hats and that sort of stuff. Most people just ignored me. But that’s not happening anymore. The dirty secret is out. With stock prices rushing far ahead of economic reality over the last six or so years, more experts in the financial markets are coming to the same conclusion — even if they don’t fully understand how it’s being rigged or the consequences. Ed Yardeni, a longtime Wall Street guru who isn’t one of the clowns of the bunch, said flat out last week that the market was being propped up. “These markets are all rigged, and I don’t say that critically. I just say that factually,” he asserted on CNBC.

Protesters Slam Wall Street Elites: Profit Off ‘Misery Of Workers’

April 15, 2015 Nadia Prupis, www.commondreams.org Resist! Capitalism, Living Wage, Poverty Wage, Wall Street, Wall Street Journal

A union-supported activist group known as the Hedge Clippers disrupted a hedge fund conference in Manhattan on Monday to call out financial investors they say support poverty wages. The Hedge Clippers describe themselves as "working to expose the mechanisms hedge funds and billionaires use to influence government and politics in order to expand their wealth, influence and power." Roughly 20 protesters entered the main room of the Active-Passive Investor Summit, where a panel on shareholder activists was taking place, and marched in front of the stage for about 20 minutes, chanting, "Hedge fund billionaires, pay your fair share!" "Bill Ackman, show me $15!" the protesters shouted, referring to the billionaire founder and CEO of Pershing Square Capital, who was not present during the panel.

Wall Street Bonuses Rise As Profits Fall

March 16, 2015 Suzanne McGee, www.theguardian.com Educate! Capitalism, Wall Street

With all the changes that have taken place on Wall Street since the financial crisis hit – the mergers, the new regulations and the lawsuits that continue to take a toll on banks’ bottom lines, not to mention the Federal Reserve’s demands that they continue to prove their health via regular “stress tests” – one thing remains unaltered. It’s the ritual of the annual bonus check handed out to those lucky folks who have survived the job cuts and who continue to endure the Hobbesian life – nasty, brutish and short – on trading desks and in investment banking groups across Wall Street. Given the banking industry’s reputation for ruthlessness and its emphasis on the “buyer beware” philosophy, you might expect a difficult environment to be reflected in the size of those bonuses. Well, not so fast. This is Wall Street, after all.

Wall St. Drove Oil Drilling Boom That Turned Into Disaster

January 14, 2015 Wolf Ritcher, www.wolfstreet.com Educate! Oil & Gas, Wall Street

Wall Street spent years hyping, propagating, and funding the oil and gas drilling boom in the US. It handled the bonds and loans issued by often junk-rated companies. It instigated the waves of mergers & acquisitions, profiting every step along the way – advisory fees, bridge loans, syndication of loans, underwriting of bonds, etc. At the very tippy-top of the market, it pushed in the opposite direction and instigated spinoffs, creating independent publicly-traded companies that didn’t have a chance and cost unsuspecting investors in their shares and junk bonds a barrel of money. It orchestrated a series of similarly misbegotten energy IPOs. Wall Street made money off the entire spectrum of companies associated directly or indirectly with oil and gas. It was one heck of a party.

Plutocrats On The Defensive Against Social Justice Movements

October 25, 2014 Joshua Hoffman and Keyan Bliss, www.occupy.com Organize! Capitalism, Poverty, Wall Street, Wealth Ineqaulity

What is it like to be a billionaire in the United States? According to billionaire venture capitalist Tom Perkins, wealth is a burden made "unbearable" by people of lesser incomes when they demand equality. That was the narrative published by the corporate news machine at the Wall Street Journal. Taking time away from maintaining the world's largest luxury yacht, Perkins compared progressive movements seeking social and economic justice to the horrific persecution of Jews by Nazi Germany. Sensible people were quick to denounce such ludicrous comparisons with the Holocaust. But Perkins's fellow oligarchs continue endorsing the narrative of a "hard-working" class of wealthy people "under siege" by a "lazy" class of poor people. According to billionaires like Sam Zell and Wilbur Ross, they are being targeted by poor people jealous of what they have and incapable of working as hard as they do.

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