Posts tagged ows

The new Occupy Wall Street SuperPAC is more or less a joke, but it does make me wonder if a (semi)serious one would get much financial support, and if so what legislative or political causes it would use the money to promote.

ryking:

10 Biggest Banks Could Lose $185 Billion In Deposits Next Year As Customers Move Their Money

It is my opinion that most big banks don’t need those deposits in order to profit. There is somewhere in between $600 trillion and $1.4 quadrillion in derivatives, depending on how skilled banks might be at moving risk off their balance sheets. There’s no good way to prevent firms from creating more by leveraging up on risk.

So what’s $200 billion in real money matter when there’s an endless supply of pretend money? I used to write copy for a ridiculously rich hedge fund manager. He told me the one thing Wall Street is always good at is marketing its own innovation, whether or not they’re based on shit ideas.

This is a gross oversimplification of risk management, Bank Transfer Day, derivatives, and the proper role of banks in general, but I guess it’s worth putting down.

thepoliticalnotebook:

This is unbelievably wrong… Above is some intense video footage, via the Guardian, of police beating Iraq and Afghanistan war veteran Kayvan Sabehgi at Occupy Oakland. This happened on November 2nd. Subsequent to this, Sabehgi was arrested and jailed for 18 hours in agony with a lacerated spleen and other internal injuries for which he has undergone surgery. The footage was taken by Neil Rivas, an artist/photographer, and shows Sabehgi talking to police as they advance. A policeman becomes combative with Sabehgi, who hasn’t made any threatening moves, telling him to “Get the fuck out of here!” The policeman chases Sabehgi beating him with his baton as Sabehgi tries to evade him, but never tries to physically respond. You can hear Rivas in the background yelling “Stop, stop!”

Read the story at the Guardian.

joshsternberg:

newsweek:

The Communication Workers of America target #occupywallstreet & #ows searches in Twitter with promoted tweets to spread the message: ”The #99percent pay taxes. @Verizon doesn’t.”

New era of organizational messaging. “One thing about the Communications Workers; we know how to communicate.”

joshsternberg:

newsweek:

The Communication Workers of America target #occupywallstreet & #ows searches in Twitter with promoted tweets to spread the message: ”The #99percent pay taxes. @Verizon doesn’t.”

New era of organizational messaging. “One thing about the Communications Workers; we know how to communicate.”