By Michael Collins
“The problems we are facing were not created by us, but we deign to shed light on them and so we are blamed for them. The truth is, every person at our protest is there because the system is broken.” Samuel Rutledge, Open Newswire, Portland Indymedia
The fascist financiers of the Money Party are growing restless. Occupy Wall Street began with a call to action from the activist online group Anonymous in August. It was barely featured in the mainstream or alternate media. Instead of a small crowd that could easily be ignored then disbursed, fifty thousand citizens showed up at the headquarters for the world financial system, Wall Street. Despite the best efforts of Mayor Bloomberg and NYPD, the Occupy Wall Street continues. The message went out to the country and the world. Now, there are over 100 occupy events in Oakland, Kansas City, Washington, DC, and elsewhere. (Image: K. Kendall)
By Yves Smith
I suppose there is no point in being part of the 1% unless you can throw your weight around.
Greg Palast writes in the Guardian of how Goldman took a wee bit of revenge on Occupy Wall Street via the itty bitty credit union ($30 million in assets) that OWS chose for its bank account, Peoples Bank. Peoples has “a unique Federal charter”. It focuses on low income customers, meaning families with less than $38,000 in income (to get to how far that goes in the rest of the US ex maybe San Francisco, reduce that amount by at least 30%).
By Michael Franti and Spearhead
By The Economic Collapse
Most people have no idea that Wall Street has become a gigantic financial casino. The big Wall Street banks are making tens of billions of dollars a year in the derivatives market, and nobody in the financial community wants the party to end.
The word “derivatives” sounds complicated and technical, but understanding them is really not that hard. A derivative is essentially a fancy way of saying that a bet has been made. Originally, these bets were designed to hedge risk, but today the derivatives market has mushroomed into a mountain of speculation unlike anything the world has ever seen before.
Posted in Economy Economics
Tagged AIG, bailouts, Bank of America, banksters, Citigroup, Derivatives, economy, financial weapons of mass destruction, goldman sachs, JPMorgan Chase, morgan stanley, occupy wall street, ows, ponzi scheme, TARP, wall street
By Gregory M. Lemelson
The Daily Bail
On Oct. 18th, 2011 the Massachusetts Supreme Judicial Court handed down their decision in the Francis J. Bevilacqua, III vs. Pablo Rodriguez – and in a moment, essentially made foreclosure sales in the commonwealth over the last five years wholly void. However, some of the more polite headlines, undoubtedly in the interest of not causing wide spread panic simply put it “SJC puts foreclosure sales in doubt” or “Buyer Can’t Sue After Bad Foreclosure Sale”
In essence, the ruling upheld that those who had purchased foreclosure properties that had been illegally foreclosed upon (which is virtually all foreclosure sales in the last five years), did not in fact have title to those properties.
Posted in Economy Economics
Tagged AIG, banksters, Bevilacqua, class war, Eaton, goldman sachs, green tree servicing, Ibanez, massachusetts, MERS, mortage fraud, mortgage loan default, mortgage risk assessment, occupy wall street, ows, Residential Mortgage Backed Securities, RMBS, squatters, title insurance fraud
By Lewis McCrary
The American Conservative
Just before dinner time on Tuesday, the Occupy DC movement was visited by one of the establishment’s most prominent activists for change. Harvard Law professor Lawrence Lessig, who made his name as a leader of the anti-intellectual property, “free culture” movement, was in town to promote his new book on government corruption, Republic, Lost. He stopped by the occupation in McPherson Square for what was billed as a “teach-in.” While there, he gave advice that made many of the left-leaning Occupiers uncomfortable: join hands with tea partiers, or your movement is going nowhere.
By The Daily Bail
UPDATE – Chcek out regulator William Black’s blistering reaction to this story HERE.
This story from Bloomberg just hit the wires this morning. Bank of America is shifting derivatives in its Merrill investment banking unit to its depository arm, which has access to the Fed discount window and is protected by the FDIC.
This means that the investment bank’s European derivatives exposure is now backstopped by U.S. taxpayers. Bank of America didn’t get regulatory approval to do this, they just did it at the request of frightened counterparties. Now the Fed and the FDIC are fighting as to whether this was sound. The Fed wants to “give relief” to the bank holding company, which is under heavy pressure.
This is a direct transfer of risk to the taxpayer done by the bank without approval by regulators and without public input.
By Robert C. Koehler
Will Occupy Wall Street hold together long enough to cut to the deep chase?
Will it find a voice to articulate not merely the pain of the struggling middle class but the endemic unfairness and racism of inescapable poverty? “Everyone is important,” read the sign of an elderly protester. My God, what if it were true? What if we could see, in the desperate thrashing of the abandoned class, everyone’s future, that of the 99 percent and that of the 1 percent?
By Yoichi Shimatsu
The 4th Media
The Nazis are back on the streets of the Western world. This time, they’re not wearing swastika armbands or raising the straight-arm salute. Instead, neo-Nazi operatives are keeping a low profile, tweeting messages over iPhones, communicating with hand signals and brandishing propaganda posters from Adbusters. Despite appearances of free-for-all equality at Occupy Wall Street protests, a clandestine rightist network – allied with British intelligence agents and a far-right Swedish tycoon – secretly controls the agenda.
Press TV interviews financial journalist and broadcaster, Max Keiser from Paris to discuss the “Occupy Wall Street” protests — the campaign against corporate greed, social inequality and the banking industry has gone global.
By Alan Taylor
The Occupy Wall Street movement continues to grow and has now spread across the world, motivating thousands to voice their anger at financial and social inequality, and in some places merging with existing anti-government protests. On Saturday, a global “Day of Rage” was observed, and demonstrations took place in more than 80 countries around the world. Protesters took their messages and anger to the streets from Hong Kong to Fairbanks, from Miami to London, from Berlin to Sydney, and hundreds more cities large and small. The demonstrations were largely peaceful — with the exception of some violent clashes in Rome. Collected here are some images from the past several days as the Occupy Wall Street message continues to resonate and grow.
By Keiser Report
This week Max Keiser and co-host, Stacy Herbert, talk about Marie Antoinette’s last words on a banner at the Chicago Board of Trade, and much more.
Flint sit-down strikers celebrate their victory inside one of the occupied plants
By Sharon Smith
Today’s Occupy movement stands in a long tradition of radical struggles in the U.S. that have used similar tactics. In particular, the U.S. labor movement owes some of its greatest victories to the determination of workers that “we shall not be moved.”
In this excerpt from her book Subterranean Fire: A History of Working-Class Radicalism in the United States, Sharon Smith tells the story of the legendary Flint sit-down strike against General Motors that began 75 years ago, and how labor’s victory at GM unleashed a wave of sit-down strikes across the country. ~SW Ed.
Posted in Art, Books, Music & Film, Economy Economics, Labor, Resistance
Tagged banksters, general motors, labor history, occupy labor, occupy wall street, ows, sharon smith, Subterranean Fire: A History of Working-Class Radicalism in the United States, The Labor Wars: From the Molly Maguires to the Sit-Downs, worker strikes
By Finian Cunningham
How can financiers and speculators who are the embodiment of everything that is awry with the American economy be part of the solution? This is an example of where the movement needs to make tough political choices and to demonstrate that it understands the structural nature of the challenge that lies ahead, writes Finian Cunningham
Posted in Economy Economics, Resistance
Tagged al gore, banksters, Ben Bernanke, class war, co-opt, George Soros, Howard Buffett, occupy wall street, ows, predatory capitalism, warren buffett
By Electronic Frontier Foundation
The Occupy Wall Street movement is spreading. Protesters of all political persuasions are increasingly documenting their protests – and encounters with the police – using electronic devices like cameras and cell phones. The following tips apply to protesters in the United States who are concerned about protecting their electronic devices when questioned, detained, or arrested by police. These are general guidelines; individuals with specific concerns should talk to an attorney.
Over the past month, we have witnessed the Occupy protests grow to unbelievable strengths. 82 countries and 1000 cities are currently joining in the Occupy movement. Occupy Wall Street is currently heading into its 30th day of protest and is showing little signs of stopping.
This November the 5th, we invite you to join us, for Bank Transfer day. We invite you to remove all funds from your bank account and transfer them to a not-for-profit credit union.
Below is a call from the AFL-CIO to go to Wall Street to try to stop Mayor Bloomberg plans to evict the Occupy Wall Street protesters at 7 am Monday, Oct. 17. We urge everyone to get to Wall Street, sign the emergency petition and call New York City at 212-NEW-YORK and tell them to keep stop their attack on the Wall Street occupiers.
Can you come out to Zuccotti Park to support Occupy Wall Street?
To find Zuccotti Park on Google maps, click here.
Uploaded by CoreyOgilvie on Oct 10, 2011
This video is meant to be a warning to our leaders:
Just for the record…
10/19 Update: George Soros donated $3.5 million to Tides. (Reuters)
You may have read Adbusters’ Kalle Lasn Talks About OccupyWallStreet to The Tyee, or perhaps OccupyWallStreet Is a Church of Dissent, Not a Protest, by Matt Stoller, the former Senior Policy Advisor to Rep. Alan Grayson and a fellow at the Roosevelt Institute.
Some bloggers found that OWS is funded by the Gates Foundation, Ford Foundation and Rockefeller Foundation.