Posts tagged ows
Too Big to Jail

More than two decades ago, during the savings and loan crisis, Bill Black exposed the Keating Five, senators who took big campaign contributions from the most infamous of the savings and loan executives and then tried to hide their crimes by stopping bank examiners from doing their job. 

The scandal ended the careers of three of those senators. One of them—John McCain—went on to run for president. Black also helped prosecutors convict more than 3,000 crooked bankers, a third of them high-level executives. He also trained bank examiners and FBI agents in what to look for and showed prosecutors how to frame charges and present complicated evidence to juries in a compelling manner. 

After that, Black, a lawyer, got a doctorate in criminology and developed a theory he calls “control fraud” to describe how corrupt bankers turn legitimate institutions into criminal enterprises. He devised techniques to help bank regulators quickly spot crooked banking practices, and rolled all this into a book,The Best Way to Rob a Bank Is to Own One. 

With a track record like that, you might think Black would have been the first person President Barack Obama called when he took office five years ago as the economy was being gutted because of reckless and rapacious banking practices that plundered profits through subprime mortgages and devilish derivatives. A second Great Depression was stalking America, as the stock market was tanking and businesses small and large were hemorrhaging jobs. 

BUT

Too Big to Jail

More than two decades ago, during the savings and loan crisis, Bill Black exposed the Keating Five, senators who took big campaign contributions from the most infamous of the savings and loan executives and then tried to hide their crimes by stopping bank examiners from doing their job.

The scandal ended the careers of three of those senators. One of them—John McCain—went on to run for president. Black also helped prosecutors convict more than 3,000 crooked bankers, a third of them high-level executives. He also trained bank examiners and FBI agents in what to look for and showed prosecutors how to frame charges and present complicated evidence to juries in a compelling manner.

After that, Black, a lawyer, got a doctorate in criminology and developed a theory he calls “control fraud” to describe how corrupt bankers turn legitimate institutions into criminal enterprises. He devised techniques to help bank regulators quickly spot crooked banking practices, and rolled all this into a book,The Best Way to Rob a Bank Is to Own One.

With a track record like that, you might think Black would have been the first person President Barack Obama called when he took office five years ago as the economy was being gutted because of reckless and rapacious banking practices that plundered profits through subprime mortgages and devilish derivatives. A second Great Depression was stalking America, as the stock market was tanking and businesses small and large were hemorrhaging jobs.

BUT

We’ve got Thomas Frank stopping by momentarily to talk about how a buncha billionaries brought about the collapse of the American financial system as we knew it “are putting capitalism and democracy in chains.” Five minutes or so. Taking questions now. Come join us—you can sign in w/ Facebook, Twitter, or email.

We’ve got Thomas Frank stopping by momentarily to talk about how a buncha billionaries brought about the collapse of the American financial system as we knew it “are putting capitalism and democracy in chains.” Five minutes or so. Taking questions now. Come join us—you can sign in w/ Facebook, Twitter, or email.

picturedept:

From ART BEAST:

As we approach the first anniversary of the Occupy Wall Street movement, on Sept. 17, the International Center of Photography in New York is marking it with a suitably open-armed exhibition called simply “Occupy!” It will be on view each weekend through Sept. 30 in a reclaimed barracks on Governor’s Island. ICP curators have held an open call for submissions, and will be hanging every Occupy image that came in before Aug. 15—a few of which are shown here. “There’s an incredibly wide range of pictures, of surprisingly high quality,” says Brian Wallis, chief curator at ICP. He gives the credit to new digital technologies, which put photography within reach of more people than ever. He also notes that this same technology was crucial to Occupy’s success, and to spreading news of its actions.
—Blake Gopnik

SEE THE FULL GALLERY HERE

picturedept:

From ART BEAST:

As we approach the first anniversary of the Occupy Wall Street movement, on Sept. 17, the International Center of Photography in New York is marking it with a suitably open-armed exhibition called simply “Occupy!” It will be on view each weekend through Sept. 30 in a reclaimed barracks on Governor’s Island. ICP curators have held an open call for submissions, and will be hanging every Occupy image that came in before Aug. 15—a few of which are shown here. “There’s an incredibly wide range of pictures, of surprisingly high quality,” says Brian Wallis, chief curator at ICP. He gives the credit to new digital technologies, which put photography within reach of more people than ever. He also notes that this same technology was crucial to Occupy’s success, and to spreading news of its actions.

—Blake Gopnik

SEE THE FULL GALLERY HERE

What are you doing at 1pm (et)? If “nuthin much,” check out our Google Hangout with awesome people Tim Pool (live-streamer of Occupy Wall St), Alexis Ohanian (Reddit co-founder), and Mary Joyce (badass digital activist)! Your tumblr will be the host. We’ll be talking about the Internet, this crazy thing. To watch, just load up our Google+ page and refresh around 1pm ET. We’ll also try and embed it here.

What are you doing at 1pm (et)? If “nuthin much,” check out our Google Hangout with awesome people Tim Pool (live-streamer of Occupy Wall St), Alexis Ohanian (Reddit co-founder), and Mary Joyce (badass digital activist)! Your tumblr will be the host. We’ll be talking about the Internet, this crazy thing. To watch, just load up our Google+ page and refresh around 1pm ET. We’ll also try and embed it here.

Head’s Up! Let’s Chat About OWS, The Arab Spring, and ‘The Origins of Political Order’

Join your nwktumblr, acclaimed political scientist Francis Fukuyama, and our books editor Lucas Wittmann to discuss the Arab Spring, Occupy Wall Street, and Fukuyama’s latest book, The Origins of Political Order, newly out in paperback. We’ll be chatting live 11:30 am EDT this morning. So…in 15 minutes.

The chat will be on our site and here on tumblr. If you’re viewing this in the dashboard, visit our tumblr site at newsweek.tumblr.com to see the chat. If you’re already there, the field below will begin populating with the chat’s questions and answers around 11:30 am.

Bring some smart questions, tumblr!

aestivate:

newsweek:

Union Square is PACKED right now. Or shall we say, occupied.

okay so

i live on union square

and while i sympathize with ows i disagree with their methods

upturning cars and wreaking havoc in downtown nyc (where there are a lot of students like myself that just want some peace and quiet so we can study for finals) is not the way to go

OWS didn’t do much overturning cars or wreaking havoc yesterday. The only problems came from the so-called ‘Wildcat’ march, which was unsanctioned, and organized by people set out to cause problems. The majority of OWS marchers yesterday were pretty peaceful. As for the noise, gotta say, if you came to New York City looking for peace and quiet while you’re in school, you picked the wrong city. :)

Our reporter Matthew DeLuca, who stuck with yesterday’s “May Day” protests well into the evening, files on Occupy Wall Street’s resurgence back into the mainstream’s consciousness:

The question of course remains of what Occupy will do with whatever momentum it picked up from Tuesday’s demonstration.
For some protesters, the lack of one or two key demands and a stronger organizational structure made the day less effective than it could have been. “I think they have to state their demands along with their actions,” said Anton Alen, a student at Hunter College, adding that he thinks Occupy Wall Street has been clear on many things it would like to see changed. Alen said that the idea of trying to occupy another space Tuesday night was in the right spirit but needed to be thought out better. “I don’t think it can be so spontaneous and still be effective,” Alen said.
Sofia Gallisa of Fort Greene, Brooklyn, disagreed. “This isn’t about specific demands,” she said. “It’s never been about specific demands.” Occupy Wall Street has changed the kind of discussions Americans are having about inequality, she said, particularly around issues of class.

Did May Day Save Occupy Wall Street?, The Daily Beast
[photo by Spencer Platt / Getty Images]

Our reporter Matthew DeLuca, who stuck with yesterday’s “May Day” protests well into the evening, files on Occupy Wall Street’s resurgence back into the mainstream’s consciousness:

The question of course remains of what Occupy will do with whatever momentum it picked up from Tuesday’s demonstration.

For some protesters, the lack of one or two key demands and a stronger organizational structure made the day less effective than it could have been. “I think they have to state their demands along with their actions,” said Anton Alen, a student at Hunter College, adding that he thinks Occupy Wall Street has been clear on many things it would like to see changed. Alen said that the idea of trying to occupy another space Tuesday night was in the right spirit but needed to be thought out better. “I don’t think it can be so spontaneous and still be effective,” Alen said.

Sofia Gallisa of Fort Greene, Brooklyn, disagreed. “This isn’t about specific demands,” she said. “It’s never been about specific demands.” Occupy Wall Street has changed the kind of discussions Americans are having about inequality, she said, particularly around issues of class.

Did May Day Save Occupy Wall Street?, The Daily Beast

[photo by Spencer Platt / Getty Images]

The Communications Workers of America is America paid big dollars to get this as a promoted trend on ‘May Day.’ This is the tweet they’ve got sitting atop that hashtag.

The Communications Workers of America is America paid big dollars to get this as a promoted trend on ‘May Day.’ This is the tweet they’ve got sitting atop that hashtag.

These guys are marching near Grand Central and are currently amassed outside the Chipotle directly across from Bryant Park (42nd b/t 5th and 6th avenues).

These guys are marching near Grand Central and are currently amassed outside the Chipotle directly across from Bryant Park (42nd b/t 5th and 6th avenues).

(via supernaturalbc)