Archive for Wall St.
Newtonomics
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Even cartoonists know old inefficient businesses need to be destroyed to make way for new and better things. Otherwise we’d be drawing on cave walls instead of computers.
Port Authority
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Dockworkers and truckers on the west coast were largely ungracious about the Occupy movement’s efforts on their behalf. Protesters attempted to disrupt capitalism by shutting down ports from San Diego to Anchorage, causing workers to be sent home without pay.
The president, who disrupted the the Keystone Pipeline and the jobs that go with it, has previously said of the protesters, “you are the reason I ran for office“.
Watch Your Step
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Jon Stewart explores inequality inside Occupy Wall Street. OWS didn’t quite achieve a classes society but it can point with pride to a few classless people. You can watch one here but it’s kind of gross.
Real Scandal
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Politico had over 90 stories last week about the Herman Cain sexual harassment allegations. It’s still unclear just what is being alleged but it doesn’t appear to include pulling down his pants and ordering a subordinate to “kiss it”. That would be the charge against President Bill Clinton from about the same era.
Oddly, women’s groups swarmed to the defense of the “lovable rogue” and, after being impeached, he weathered the storm – minus his Arkansas law license.
None of us, however (at least not the 99%), weathered the storm caused by another scandal with racial overtones. Paul Sperry reported in IBD, how Clinton pressured financial institutions to make home loans to the un-creditworthy. Meanwhile, MSN Money quotes David Weidner, of Marketwatch, saying Clinton’s biggest mistake was the repeal of Glass-Steagall.
Business Week reported this week that, after stating a $4.4 billion loss for the third quarter, Freddie Mac will seek an additional 6 billion dollar bail-out from taxpayers.
One Percent Pander
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In an ABC interview with Jake Tapper last night, Obama reached out to the Occupy Wall Street crowd and called for a more “egalitarian” society.
No word yet on a bail-out for Wall Street’s investment in Obama.
Update: It turns out the president is still raking The Street.
President’s in Glass White Houses Shouldn’t Throw Bricks
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Continuing to lead from behind, Obama followed the examples of Dick Durbin and the Occupy Wall Street Teatotalitarians (your totalitarian alternative to the Tea Party) by taking a whack at the banks. True, banks are greedy. I think it’s in their mission statements. They maximize bail-out dollars for pension fund shareholders.
Still, there was no mention of the gal who made it all possible – Fannie Mae.
Occupation on Wall Street
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A Wall Street Occupation ain’t what it used the be.
The Occupy Wall Street crowd in New York (and some other cities that don’t even have a Wall Street) is said by some to be a left wing version of the Tea Party. That may be. Their goals are certainly less focused than the Tea Party’s. Tim Stanley in The Telegraph thinks they should join the Tea Party. Other’s say OWS is sort of an Arab Spring in America, in the fall. Whatever that means. Rich Lowry calls it a “Woolly Headed Hoard”.
Here’s a story in the Atlantic with lots of pictures.
