“It makes me ill how callously people still talk about ripping off clients,” the Goldman Sachs whistleblower, Greg Smith, wrote in his March 14th public resignation letter. The 33-year-old executive who quit the company’s London office where he ran its derivatives shop reinforces the public perception of Goldman Sachs less as a venerable Wall...
In an admirable bit of reporting, Nelson Schwartz and Eric Dash of the New York Times did us all a favor by asking bankers, hedge fund and money managers what they think about the Occupy Wall Street protesters. Said one top hedge fund director who wished to remain anonymous: “Most people view it as...
In 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown, Simon Johnson and James Kwak point out that in September 2008 the high-flying masters of the universe were at their weakest point and had no choice but to do whatever the government demanded of them. Never mind the supreme irony of Wall...
Martin Luther King, Jr. and Municipal Workers
Martin Luther King, Jr. gave his life fighting for the collective bargaining rights of municipal workers in the city of Memphis. The garbage collectors who were striking were responding to unsafe conditions (a worker was crushed by a truck), a sub-minimum wage, non-existent benefits, zero bargaining rights. Mayor Henry Loeb beat the workers down...
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