Categories: banks

The Wealth Watch: 10 Must-Read Links

Posted by: Dan Beucke on January 15

Trip to Long Island's Gold Coast: Among the 1%, Many Variations (NY Times) The income gap: Unfair, or Are We Just Jealous? (NPR) Cost of globalization: White House Brags...

The Wealth Watch: 10 Must-Read Links

Posted by: Dan Beucke on January 08

Misreading college majors: How Art History Powers the Economy (View, Postrel) Beware narcissistic CEOs: The Ego Has Landed (WSJ) 12 years to close the gap: Shrinking Job Opportunities (Hamilton...

The Wealth Watch: 10 Must-Read Links

Posted by: Dan Beucke on January 02

The rich seek refuge: New Art Buyers Boost 2011 Sales to $1.7 Billion (Bloomberg) Occupy's Rose Parade float: 70-foot octopus of corporate greed (LA Times) Resolutions: Saving the New...

Sympathy for the Successful: Billionaires Bite Back

Posted by: Dan Beucke on December 21

A story from Bloomberg's Max Abelson yesterday noted the opening of a media counter-offensive by the 1 percent against what many of them believe are unwarranted attacks on wealth,...

The Wealth Watch: 10 Must-Read Links

Posted by: Dan Beucke on December 18

Occupy Rome: Roman Empire more equal than the U.S. (Marginal Revolution) "Story ends badly": China's Local Government Debts Dwarf Official Data (Bloomberg) Feel-good story: Anonymous donors pay off Kmart...

Welcome to the Income-Gap Capital of the U.S.A.

Posted by: Dan Beucke on December 12

At the height of the Occupy Wall Street protests, some critics pointed out that the lower-Manhattan camp was misplaced in that it missed the real seats of financial power:...

The Wealth Watch: 10 Must-Read Links

Posted by: Dan Beucke on December 10

Occupy campus recruiting: An Orange and Black Eye for 2 Banks (DealBook) From a rich American: Rich People Don't Create Jobs (Blodget, Business Insider) Post-grads' lament: Trapped by $50,000...

Tuesday Morning Wealth Watch

Posted by: Dan Beucke on December 06

Ask the birds: What makes a rogue trader? (FT, HT/The Big Picture) Hurt feelings?: It's Tone, Not Taxes, a Tycoon Tells Obama (Dealbook, NY Times) It's a Wonderful Lie:...

Weekend Wealth Watch

Posted by: Dan Beucke on December 03

Jobs and 2012: Democrats, GOP Seize on Competing Narratives (NY Times) Why 8.6%=bad news: A Note on the Unemployment Rate Drop (Brad DeLong) 8% more to go: Home Prices...

Friday Morning Wealth Watch

Posted by: Dan Beucke on December 02

Surprise: U.S. Jobless Rate Unexpectedly Declines to 8.6% (Bloomberg) Finding Community at OWS: All the Angry People (New Yorker) Don't say "capitalism": Teaching the GOP to talk about OWS...

Thursday Morning Wealth Watch

Posted by: Dan Beucke on December 01

Occupied on the inside: On Wall Street, Some Express Quiet Outrage (DealBook) Young Analyst To 99%: 'The Finance Industry Is A Complete Scam' (Business Insider) Forget job creators: The...

Wednesday Morning Wealth Watch

Posted by: Dan Beucke on November 30

Occupy LA, Philly: Police Raids Clear Camps (Bloomberg) Shadow of Assange: OWS and Advantages of a Leaderless Movement (NY Magazine) Peer pressure: At Top Colleges, Anti-Wall St. Fervor Complicates...

Tuesday Morning Wealth Watch

Posted by: Dan Beucke on November 29

$100 billion IPO: Why Greedy Stockholders Could Hurt Facebook (TechCrunch) "Crony capitalism": How Paulson Tipped Hedge Funds to GSE Plan (Bloomberg) More, please: Bloomberg Report Exposes the Fed Doing...

Judge on Citi's SEC Deal: "An engine of oppression"

Posted by: Joel Stonington on November 28

Federal Judge Jed S. Rakoff struck down a $285 million settlement between the SEC and Citigroup on Monday. To outsiders who've complained that banks have gotten away with slaps...

Monday Morning Wealth Watch

Posted by: Dan Beucke on November 28

Occupy LA: Police and Los Angeles protesters skirmish (Reuters) Secrets of the Fed: Banks Made $13B on Undisclosed Loans (Bloomberg) 2012=1968?: How OWS could consume Obama (NY Magazine) A...

Weekend Wealth Watch

Posted by: Dan Beucke on November 27

To leave or stay in LA: Some vow civil disobedience at midnight (LA Times) 5 PM deadline: Occupy Philadelphia weighs options (Philly Inquirer) Protest becomes performance: The Man Behind...

Friday Morning Wealth Watch

Posted by: Dan Beucke on November 25

Cuff loan approvers?: America's Modern-Day Debtor's Prison (McArdle, Atlantic) Big plans: Protesters Look for Ways to Feed the Web (NY Times) Forget college: 9 Hot Blue Collar Jobs (The...

Wednesday Morning Wealth Watch

Posted by: Dan Beucke on November 23

Low value-added: What's the Contribution of the Financial Sector? (Naked Capitalism) "Homogeneously high-skilled": The Great Work Divide (McArdle, Atlantic) $30 camcorders: Stores Bow to Shoppers on Black Friday (Bloomberg)...

Finding the Humor in Occupy Wall Street

Posted by: Dan Beucke on November 22

Before "Saturday Night Live," before "Animal House," there was "Lemmings" -- a biting 1973 Off-Broadway musical satire about Woodstock and the peace movement. Written by young comic geniuses from...

Tuesday Morning Wealth Watch

Posted by: Dan Beucke on November 22

Unoccupied: Wave of Layoffs Hits Wall Street (Bloomberg) Pepper-spray apology: Angry UC Davis protesters confront chancellor (SF Chronicle) "Modern-day debtor's prison": Debtor Arrests Criticized (WSJ) Home of the 1%:...

Monday Morning Wealth Watch

Posted by: Dan Beucke on November 21

Bizarro Supercommittee: A Neverending Cycle of Dysfunction (Atlantic) Goodbye, growth: The supercommittee's real failure isn't on the deficit (Klein, WashPost) Lobbyist: Banks should "undermine" Occupy protesters (MSNBC, HT/ Business...

Weekend Wealth Watch

Posted by: Dan Beucke on November 20

UC Davis, call for restraint: Too Much Violence, Pepper Spray (Atlantic) UC Davis reactions: The Moral Power of an Image (Fallows, Atlantic) The near-poor: Older, Suburban and Struggling (NY...

OccupyTheInternet.com*: The OWS Digital Land Grab

Posted by: Suzanne Woolley on November 18

While Occupy[fill-in-the-blank]ers are being rousted from camps in the U.S. and abroad, there's a digital land grab underway. Godaddy.com has sold 5,200 domain names with "occupy" in them from September...

Friday Morning Wealth Watch

Posted by: Dan Beucke on November 18

March on Wall Street: Clashes, 240 Arrests Mark 'Day of Action' (NY Times) Going mobile: Occupy Wall Street's new tactics (NY Magazine) "The consumer is an income stream": Why...

Occupy Wall Street After 2 Months: A Scorecard

Posted by: Dan Beucke on November 17

It began on Sept. 17 with a few hundred people gathering in lower Manhattan. The protest -- against banks, moneyed influence in Washington, corporate power, and a host of...

Thursday Morning Wealth Watch

Posted by: Dan Beucke on November 17

Live coverage: Occupy Wall Street's day of action (Guardian) Subways, stock exchange: New York City Protesters on the March (Bloomberg) Dennis Gartman: God bless income disparity (FT Alphaville) Tick:...

OWS: Simple as You Want It to Be

Posted by: Dan Beucke on November 16

At the tail end of a long interview with Betty Liu on Bloomberg TV today, AIG Chairman Steve Miller was asked what he thought of Occupy Wall Street's criticism...

Wednesday Morning Wealth Watch

Posted by: Dan Beucke on November 16

Now what?: Occupy Wall Street's Eviction Was a Lucky Break (Atlantic) Hold the pepper spray: After an Earlier Misstep, a Minutely Planned Raid (NY Times) Heard on the street:...

Tuesday Morning Wealth Watch

Posted by: Dan Beucke on November 15

NYC cracks down: Police Clear Zuccotti Park of Protesters (NY Times) What's next: Mayor speaks, protesters plan next move (NY Times, City Room blog) Prelude to the crackdown: Protesters...

Monday Morning Wealth Watch

Posted by: Dan Beucke on November 14

Perfect timing: Is Congress trading stock on inside information? (60 Minutes, CBS) Capitol gains: Congress and stocks: Does it matter? (Atlantic) Fee for all: Banks Quietly Ramping Up Costs...

Weekend Wealth Watch

Posted by: Dan Beucke on November 12

Chef takes heat: Bankers Blast Batali; Others Say 'Leave Mario Alone!' (Bloomberg) Sandy Weill's $88 million downsizing: Occupy This, OWS (Greiff, Bloomberg View) Back at ya: Occupy Wall Street...

Occupy Wall Street, Day 56

Posted by: Dan Beucke on November 11

Margaret Brennan of Bloomberg Television provides a quick roundup of OWS news from, where else, the New York Stock Exchange floor. Here's some more context on the first two...

Friday Morning Wealth Watch

Posted by: Dan Beucke on November 11

J.C. Penney takes a stand: Thanksgiving as Day to Shop Meets Rejection (NY Times) Congrats, you made the 10Q: OWS Gets CME Group's Attention (Footnoted.org) Bad day for OWS:...

Thursday Morning Wealth Watch

Posted by: Dan Beucke on November 10

Bobby Bailout, Flash Cash: Meet OWS's Mysterious Finance Committee (NY Magazine) Down the sewer: Jefferson County in Biggest Municipal Bankruptcy (Bloomberg) Bragging rights: Ultra Wealthy in U.S. to Outnumber...

In Zuccotti Park, Supplying the Occupying Army

Posted by: Kenzie Delaine on November 10

Bloomberg reporter Kenzie Delaine and producer Annmarie Hordern go inside the Zuccotti Park donation center, where 200 to 400 boxes of supplies for the protesters arrive each day. Distributing...

Wednesday Morning Wealth Watch

Posted by: Dan Beucke on November 09

Tide turns: Ohio Turns Back a Law Limiting Unions' Rights (NY Times) Tapping energy: Occupy Movement Inspires Unions to Embrace Bold Tactics (NY Times) Economic bias: I Was Wrong,...

Tuesday Morning Wealth Watch

Posted by: Dan Beucke on November 08

The "safe" side: The Truth About Crime And Sexual Assault At OWS (Business Insider) Too big for bonuses: End Bonuses for Bankers (Taleb, NY Times) $1 million medallion: Taxi...

Even Bankers Think Bankers Are Paid Too Much

Posted by: Mark Gimein on November 07

A popular take on those who work in finance is that they don't care about the income gap and would just as soon tell the poor to shove off....

Monday Morning Wealth Watch

Posted by: Dan Beucke on November 07

Lending bubble: China Credit Squeeze Spurs Suicides, Violence (Bloomberg) What caused the crisis? The Big Lie goes viral (The Big Picture) Do I hear 10 years?: The Trials of...

Weekend Wealth Watch

Posted by: Dan Beucke on November 05

How long?: Occupy Wall Street Protest Reaches a Crossroads (NY Times) Occupy My Wallet: Moving Money Off Wall Street (Bloomberg PF) Plight of the puppeteer: Not From the Onion...

Friday Morning Wealth Watch

Posted by: Dan Beucke on November 04

Residents' revolt: Calls grow for Mayor Bloomberg to act on protest camp (Guardian) No $12 million severance: Corzine Resigns From MF Global (NY Times) Today's tepid jobs report: A...

Occupiers Put Goldman on 'Trial'

Posted by: Kenzie Delaine on November 03

Bloomberg reporter Kenzie Delaine and producer Annmarie Hordern put together this piece on the Occupy Wall Street demonstrators' mock trial today of Goldman Sachs. After "trying" Goldman for what...

Bank Fees Are a Gift for Credit Unions

Posted by: Dan Beucke on November 03

Kristen Christian, a 27-year-old Los Angeles gallery owner, came up with the idea for Bank Transfer Day after getting socked with one bank fee after another. Now that big banks...

Thursday Morning Wealth Watch

Posted by: Dan Beucke on November 03

Port shut down: Protest in Oakland Turns Violent (NY Times) Occupying Jamie Dimon: Occupy Seattle swoops in on JPMorgan CEO (LA Times) Portrait of Scott Olsen: Veteran's journey from...

MF Global: It's Not Just Corzine's Fault

Posted by: Mark Gimein on November 02

The basic storyline about MF Global seems to be solidifying: ex-Goldmanite Jon Corzine digs into a hole and blows up a company with risky bets on sovereign debt. Just another...

Wednesday Morning Wealth Watch

Posted by: Dan Beucke on November 02

Goodbye, debit-card fee: Will BofA Just Accept a $2 Billion Loss? (Atlantic) Head count: They're occupying, but who's counting? (Washington Post) Occupy London: St Paul's holy smokescreen lifts to...

Full Tilt Trading?

Posted by: Dan Beucke on November 01

If the collapse of MF Global wasn't enough for critics who accuse Wall Street of being one big casino, this should do it: Reports say that the big brokerage was...

OWS Does Halloween

Posted by: Kenzie Delaine on November 01

Bloomberg videographer Kenzie Delaine recorded Occupy Wall Street demonstrators dressed up as vampire bankers, bleeding bank customers, and zombie billionaires as they marched at the New York City Annual...

Tuesday Morning Wealth Watch

Posted by: Dan Beucke on November 01

Update: Banks fold: BofA Eliminates Plan for $5 Debit-Card Fee (Bloomberg) Making Volcker's point: MF Global Exposes Trading Risk (Bloomberg) Gimme shelter: Homeless Stake a Claim at Protests (NY...

Monday Morning Wealth Watch

Posted by: Dan Beucke on October 31

Update: Broker-dealer gone bust: MF Global Files for Bankruptcy Protection (Bloomberg) Arrests update: Recapping A Clash Between Denver Police and Protesters (Atlantic) Bankers as black hats: In The Halls...

Weekend Wealth Watch

Posted by: Dan Beucke on October 29

On second thought: Wells Fargo Cancels $3 Monthly Debit-Card Fee (Bloomberg) Foreclosure mill's ghoulish party: What the Costumes Reveal (NY Times) From Iran's Greens: 10 ways OWS can Excel...

Occupy Wall Street Comes to Park Avenue

Posted by: Dan Beucke on October 28

On Friday, Occupy Wall Street marched north. Long before the marchers arrived, knots of New York City police could be seen in front of just about any financial office...

MTV Explains 'True Life: I'm Occupying Wall Street'

Posted by: Dan Beucke on October 28

Stephen K. Friedman, president of MTV Networks, was on Bloomberg Television today explaining how the once-music, now reality-show network came up with the idea for its new series on...

Friday Morning Wealth Watch

Posted by: Dan Beucke on October 28

Occupy the world: Why Many in China Sympathise with Occupy Wall Street (The Atlantic) Behind the mask: David Graeber, the Anti-Leader of Occupy Wall Street (BusinessWeek) He's not alone:...

Occupy Wall Street, Kent State, and Chicago

Posted by: Dan Beucke on October 27

Depending on your point of view, the Occupy Wall Street movement may be 1968 -- or 1970 -- all over again. And this week may mark the point where the...

Thursday Morning Wealth Watch

Posted by: Dan Beucke on October 27

Oakland and elsewhere: Cities Begin Cracking Down on 'Occupy' Protests (NY Times) Casualty report: Veteran Scott Olsen Could Be First To Die At a Protest (Business Insider) Political fallout:...

60 Wall Street: The Real Headquarters Of OWS

Posted by: Mark Gimein on October 26

The scrum of Zuccotti Park defines the media image of the Wall Street protests. A maze of police barricades, signs, and the mass of tents and soup kitchens, a...

Arrested: 1 Ex-Goldman Director, 2,511 Protesters

Posted by: Mark Gimein on October 26

The world is calling for the heads of bankers, and the FBI has delivered them Rajat Gupta. He's not precisely a banker, but Gupta did sit on the board...

NYC Restaurant Struggles With OWS Barricades

Posted by: Dan Beucke on October 26

Wednesday Morning Wealth Watch

Posted by: Dan Beucke on October 26

'It sounded like bombs': Police Fire Tear Gas at Protesters in Oakland (NY Times, The Lede) Where the jobs are: Earn $2,000 a night as a boomtown stripper (CNN...

Occupy Wall Street and the Housing Crisis

Posted by: Dan Beucke on October 25

Can Occupy Las Vegas tap into homeowner anger? It's an intriguing question that gets to how sustainable the OWS movement can be as it spreads out of downtown New York...

Will A Robin Hood Tax Fix The World Economy?

Posted by: Mark Gimein on October 25

The Robin Hood Tax is a levy on financial transactions that would be charged on trading in instruments from stocks to exotic derivatives. The tax (RHT for short, or,...

Tuesday Morning Wealth Watch

Posted by: Dan Beucke on October 25

Links from across the income gap: The 20 percent plan: Perry calls for major spending and tax cuts (Washington Post)No tax break left behind: The Little Bit of Big Government...

Did We Come To Report Earnings? Or To Bury Them?

Posted by: Mark Gimein on October 24

Last week, as Occupy Wall Street was occupied with Wall Street's misdeeds, Wall Street itself was occupied with earnings. These have proved so opaque that if the financial press ended...