Even bad news has a way of turning around fast for Goldman Sachs. The financial giant was forced to concede Tuesday that it did not, for once, defy the laws of market physics as it has done even in the throes of the ongoing recession (you can keep your sketchy recession timeline, New York Times), and that it had ... (more)
Occupy TVNY has this interview with Chris Hedges, who, during the major global protests on Saturday, compared Occupy Wall Street to the other movements he’s covered around the world, from Eastern Europe to the Middle East.
“Defend Wall Street” is not likely to be a winning campaign slogan in 2012. For Republicans, this is an obvious problem. For President Obama and the Democrats, it’s a golden—if largely undeserved—opportunity.
It’s easy to see that apathy among a subset of middle-class youth is turning to politicization, and the natural form of this politicization is protest against the neoliberal state’s slashing of the social benefits that created the modern middle class in the first place.
Nicholas Kristof writes in The New York Times that, although there are parallels between the revolutionary protests in Egypt and the occupation of Wall Street, Americans actually experience worse income inequality than Egyptians.
Thousands of people of all ages, races and creeds gathered beneath the jumbo-size screens and billboards in Times Square on Saturday night to demand a participatory role in American democracy, while similar protests occurred in cities throughout the world. (more)
The nationwide demonstrations against Wall Street are physical manifestations of broad dissatisfaction with a colossal market power that exists and functions in the abstract—that is, apart from the rest of society. And protesters have organized accordingly, with an occupation of the virtual space of social media. (more)
Christopher Ketcham’s essay “The Reign of the One Percenters,” which we linked to a few weeks ago, shows how long-standing American individual and group behavior visible nationwide is profoundly determined by inequitable consumer capitalism. With the occupation of Wall Street gaining momentum, Ketcham revisits the subject to offer protesters some historical perspective. (more)
Long before Occupy Wall Street took form, and long before the corporate media caught on, two of our top columnists at Truthdig foresaw the economic calamity that still grips our country. Chris Hedges devoted his time and energy warning Americans about the disastrous symbiosis between big business and our government, both in his columns and in the streets. Meanwhile, Truthdig Editor in Chief Robert Scheer covered the buildup to the meltdown for over a decade, naming names and taking no prisoners in his latest book, in his own columns and in his zinger of an acceptance speech at the 2010 Webby Awards -- held, as it happened, in the heart of Wall Street.