Tag: Wall St.

Late Monday night police entered the park to take down the medical tent which is the only tent in the park despite Mayor Bloomberg’s characterization of Liberty Park as a tent city. The Rev. Jesse Jackson was present and participating in the park when the police arrived. Kevin Gosztola at FDL has the account of what happened:

Just before midnight, NYPD officers moved in on the southwest corner of Liberty Park, the site of Occupy Wall Street for the past month, to take down and confiscate a medical tent that had been erected during the day. A commotion immediately erupted in this section of the park. Occupiers rushed over and a human chain around the tent was formed. And, Rev. Jesse Jackson suddenly appeared to help the occupiers defend the medical tent from being forcibly removed.

Rev. Jackson told the occupiers, “I am not visiting, I’m participating.” When asked to link arms and help the occupiers defend the tent, he linked arms with them. They stood their ground and were able to convince the NYPD to back down.

Rev. Jackson was a guest on Countdown with Keith Olbermann

Marine Sgt. Shamar Thomas who stood up to 30 cops shaming their actions and those of their colleagues appeared for an extended inter view with Keith Olbermann.

As hundreds of “Occupy Wall Street” protesters marched to the Manhattan District Attorney’s office to demand prosecution of alleged police brutality in the handling of protest crowds over the past month, sources said a police officer who was seen on video using pepper spray on a protester last month violated city guidelines.

Deputy Inspector Anthony Bologna, seen above, was seen using pepper spray on a crowd during a demonstration on September 24.

According to sources, an NYPD investigation has found that Bologna violated the department’s rules on pepper spray use, and he will lose 10 paid vacation days.

Bologna can challenge the ruling, according to sources, and can have an administrative trial.

Protesters Storm Governor’s Award Ceremony

Meanwhile, after 6 p.m. other protesters began to swarm a West Village event where former Governor Mario Cuomo was scheduled to a present a “Changer of the Year Award” from the online news site The Huffington Post to his son, Governor Andrew Cuomo.

The protesters called Andrew Cuomo “Governor 1 Percent” and objected to how the governor has not extended the so-called “millionaires’ tax,” allowing for the state’s wealthiest residents to pay fewer taxes starting next year.

Demonstrators wanted the governor to speak directly to them, but it is still unknown if he will address the protesters. Their numbers at the Hudson Street event have also decreased.

Protesters are also rallying against Sotheby’s auction house over a union dispute, and the group plans on holding a vigil at Lincoln Center.

The Granny Peace Brigade is also protesting the the Koch brothers’ involvement in the center and their funding of several Republican issues.

The lack of integrity in the banking industry and Wall St. is as much of a problem for the left as it is for the right. The Obama administration is as much of the problem as were both Bush presidents, Clinton And Reagan.

Author David Degraw and Prof. William Black talk about politicians supporting the OWS movement for their own political gain as opposed to those who truly believe in the protests.

If you aren’t familiar with Professor Black, he is currently an Associate Professor of Economics and Law at the University of Missouri-Kansas City in the Department of Economics and the School of Law. He was a central figure in exposing Congressional corruption during the Savings and Loan Crisis. He is brought the Keating Five to national attention when he published the congressional notes he took during those hearings. Black authored the book The Best Way to Rob a Bank is to Own One: How Corporate Executives and Politicians Looted the S&L Industry which explains concept of “control fraud”, in which a business or national executive uses the entity he or she controls as a “weapon” to commit fraud.

David Degraw is an independent investigative journalist and author who writes for the web site Ampedstatus. He has been participating in the Occupy Wall Street protests in Liberty Park since day one and is part of the working group that helps coordinate the activity.

Besides prosecuting the banks for fraud, Robert Kuttner of the American Prospect makes a good argument for bringing back the Glass-Stiegel Act which was repealed under Clinton. Kuttner says that it would simplify banking regulation and counter the argument that there is too much regulation:

[]. It would have been far better policy to return to the simple bright line of the Glass-Steagall Act.

If you want to be a commercial bank, with federal deposit insurance, access to Federal Reserve advances, and a Good Housekeeping seal from regulators, great. You will have to follow closely policed rules. Alternatively, if you want to trade and speculate with your own money, go to it. But don’t grow so big that you can bring down the whole system, stay out of the commercial lending business, and don’t expect the government to bail out your bad bets.

That system worked very nicely. It was almost impossible to evade, and it didn’t require 298-page regulations, with legions of regulators to police the creative evasions and gray areas.

The discussion of prosecuting fraud, making the banks responsible for it, not the victims and finding easier solutions to regulating the industry is what the Occupy Wall Street movement should be sparking for the politicians, all of them.

There is no danger that the protesters who have occupied squares, parks and plazas across the nation in defiance of the corporate state will be co-opted by the Democratic Party or groups like MoveOn. The faux liberal reformers, whose abject failure to stand up for the rights of the poor and the working class, have signed on to this movement because they fear becoming irrelevant. Union leaders, who pull down salaries five times that of the rank and file as they bargain away rights and benefits, know the foundations are shaking. So do Democratic politicians from Barack Obama to Nancy Pelosi. So do the array of “liberal” groups and institutions, including the press, that have worked to funnel discontented voters back into the swamp of electoral politics and mocked those who called for profound structural reform.

Resistance, real resistance, to the corporate state was displayed when a couple of thousand protesters, clutching mops and brooms, early Friday morning forced the owners of Zuccotti Park and the New York City police to back down from a proposed attempt to expel them in order to “clean” the premises. These protesters in that one glorious moment did what the traditional “liberal” establishment has steadily refused to do-fight back. And it was deeply moving to watch the corporate rats scamper back to their holes on Wall Street. It lent a whole new meaning to the phrase “too big to fail.”

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What took place early Friday morning in Zuccotti Park was the first salvo in a long struggle for justice. It signaled a step backward by the corporate state in the face of popular pressure. And it was carried out by ordinary men and women who sleep at night on concrete, get soaked in rainstorms, eat donated food and have nothing as weapons but their dignity, resilience and courage. It is they, and they alone, who hold out the possibility of salvation. And if we join them we might have a chance.

Pulitzer Prize winner Chris Hedges column appears Mondays on Truthdig.

United States Marine Corps. Sgt. Shamar Thomas from Roosevelt, NY went toe to toe with the New York Police Department. An activist in the Occupy Wall Street movement, Thomas voiced his opinions of the NYPD police brutality that had and has been plaguing the #OWS movement.

Thomas is a 24-year-old Marine Veteran (2 tours in Iraq), he currently plays amateur football and is in college.

Thomas comes from a long line of people who sacrifice for their country: Mother, Army Veteran (Iraq), Step father, Army, active duty (Afghanistan), Grand father, Air Force veteran (Vietnam), Great Grand Father Navy veteran (World War II).

Thank you, SGT. Thomas, for your service in defense of this country and most of all your voice in support of the Constitutional right to peaceful assembly.

Wall Street has been occupied by protestors for a month now, and the movement is showing no signs of slowing. And New Yorkers are apparently just fine with that.

A Quinnipiac poll released on Monday found that residents of the financial capital of the world are unfazed by the presence of the protestors, who have been mostly in the financial district’s Zuccotti Park but also made their way to Times Square on Saturday night, and that two thirds of New Yorkers agree with the views of Occupy Wall Street.

Oct. 17 (Bloomberg) — Hundreds of Occupy Wall Street protesters arrested for demonstrating Oct. 1 on the Brooklyn Bridge may demand trials if charges against them aren’t dropped and some demonstrators are seeking the arrest of police officers, a month into the New York protest against economic inequality.

Manhattan District Attorney Cyrus Vance Jr.’s office is considering a request to drop charges, National Lawyers Guild attorney Martin Stolar said today outside the DA’s office after a meeting. Stolar said he hopes for a response in a few days.

“We are prepared to try every single case,” said Stolar, whose organization has offered to represent the protesters. ‘For any clients who want to take the option of, ‘I’m innocent — I’m not pleading guilty,’ we’re prepared to provide them with pro bono counsel to exercise their right to go to trial.”

If the cases all are tried, they will tie up resources of New York’s courts, Stolar said. He said 765 people were arrested at the bridge. The DA’s office said it was 267 and all but 17 got desk appearance tickets.

ALBANY, N.Y. – The push for a higher tax on New Yorkers making more than $1 million a year is getting fresh life with a new poll showing overwhelming support, a high-profile rally on Monday and the strengthening Occupy Wall Street protest in New York City.

The Siena College poll found 72% of New York voters support the tax to avoid further budget cuts. Just 26% oppose the proposal by powerful Assembly Speaker Sheldon Silver.

Also Monday, the union-backed “99 New York” rally supported extending the current so-called “millionaire’s tax” on New Yorkers with incomes over $200,000. It’s due to expire Dec. 31.

Standing in the way of renewing the current surcharge on the wealthy and Silver’s millionaire tax plan are Democratic Gov. Andrew Cuomo and his fiscal ally, the Republican majority of the Senate.

Cuomo says taxing wealthier New Yorkers at higher levels would likely send the rich to Connecticut and New Jersey, taking their income tax revenue and jobs with them.

The argument against continuing the millionaire’s tax by Cuomo and Mayor Michael Bloomberg has no basis in reality. Except for the Republican Golisano and a Trump’s unsubstantiated claims about his friends, no evidence has been given that while the tax has been in effect that millionaires and jobs have left New York State.

Deputy inspector Johnny Cardona faces inquiry over alleged assault amid questions over NYPD’s policing of protests

A second senior New York police officer is being formally investigated over allegations that he assaulted an Occupy Wall Street protester, raising fresh questions over the NYPD’s deployment of supervisors on the front line in volatile public order situations.

The officer, who has been named in news reports as deputy inspector Johnny Cardona, was filmed on Friday grabbing the protester from behind, spinning him round and appearing to punch him in the face so hard that he fell to the ground.

The New York Civilian Complaint Review Board, an independent mayoral agency that deals with allegations of excessive or unnecessary force against police, is now investigating the incident, along with a number of other complaints over policing of the protests.

This is the second inquiry the board has launched in the last month into an alleged assault by a senior NYPD officer on Occupy Wall Street protesters. It is also investigating the use of pepper spray on peaceful female protesters by another deputy inspector, Anthony Bologna, who is also the subject of an internal NYPD inquiry.

Tens of Thousands Flood the Streets of Global Financial Centers, Capitol Cities and Small Towns to “Occupy Together” Against Wall Street Mid-Town Manhattan Jammed as Marches Converge in Times Square

New York, NY — After triumphing in a standoff with the city over the continued protest of Wall Street at Liberty Square in Manhattan’s financial district, the Occupy Wall Street movement has spread world wide today with demonstrations in over 1,500 cities globally and over 100 US cities from coast to coast. In New York, thousands marched in various protests by trade unions, students, environmentalists, and community groups. As occupiers flocked to Washington Square Park, two dozen participants were arrested at a nearby Citibank while attempting to withdraw their accounts from the global banking giant.

“I am occupying Wall Street because it is my future, my generations’ future, that is at stake,” said Linnea Palmer Paton, 23, a student at New York University. “Inspired by the peaceful occupation of Tahrir Square in Cairo, tonight we are are coming together in Times Square to show the world that the power of the people is an unstoppable force of global change. Today, we are fighting back against the dictators of our country – the Wall Street banks – and we are winning.”

The Occupy London and Wall Street protests reflect deep anger that no one has been called to account for the financial crisis

The only surprise about Saturday’s occupation of the London Stock Exchange is that it took so long to happen. No doubt the government and banking lobby was hoping that the final report of the Vickers commission last month would draw a line under so-called banker bashing in the UK. As Basil Fawlty might have put it: “I crashed the global economy once, but I think I got away with it.”

So why won’t popular protests go away? Here’s why: there has been no public inquiry into the causes of the crash. No calling to account of those who drove the ship on to the rocks. No assertion of the public interest over financial markets. No subordination of banks to the needs of the real economy. No politician who dares face down global finance. No challenging of the defunct dogmas of neoliberal economics. No attempt to reverse the breathtaking wealth grab by the 1% at the expense of the rest.

Why should we be surprised that these protests are springing up, and why should we expect them to dissipate until these failures are addressed?

We Don’t Need No Permits To March

October 15 Times Sq.

Oct. 15 (Bloomberg) — Occupy Wall Street demonstrations in New York City today culminated with a Times Square rally that drew thousands opposed to economic inequality, echoed by protests from London to Tokyo.

Participants in the month-old movement marched past a JPMorgan Chase & Co. branch early in the day to urge clients to close accounts. Twenty-four were arrested later at a Citigroup Inc. office, the police said, and about 6,000 gathered in Times Square, the organizers estimated.

Hong Kong, Sydney, Toronto and other cities also saw protests, which turned violent in Rome, in what organizers called a “global day of action against Wall Street greed.” Backers say they represent “the 99 percent,” a nod to Nobel Prize-winning economist Joseph Stiglitz’s study showing the top 1 percent of Americans control 40 percent of U.S. wealth.

“The world will rise up as one and say, ‘We have had enough,'” Patrick Bruner, an Occupy Wall Street spokesman, said in an e-mail. A news release from the organization said there were demonstrations in 1,500 cities worldwide, including 100 in the U.S.

NYC Live Updates:

   8:50 p.m. 700 reported in Washington Square Park. Music and food there.

   8:30 p.m. Scanner says riot cops in full gear, nets out, headed to the crowd, 47th and 6th.

   8:11 p.m. White shirt just ordered #NYPD line AWAY from barricades. Crowd ROARS

   8:08 p.m. Tension escalating, police ordering protesters to step away from barricades.

   8:02 p.m. Mario: 4 paddy wagons and arrests at 46 and 6th ave.

   8:00 p.m. Police are arresting occupiers at 46th and 6th.

   7:30 p.m. Unconfirmed estimates ranging as high as 50,000 people in Times Square.

   6:45 p.m. Police have trapped people in times square with barricades.

   6:35 p.m. A horse just went down. Crowd is going wild. NYPD says anyone near barricade is going to jail. This is is inexcusable. (Source)

   6:22 p.m. Police on horseback arrive. Police pulling people out of crowd and attacking them. Protesters are rushing barricades.

   6:10 p.m. Police in riot gear retreat.

   6:05 p.m. Police are in riot gear.

   6:00 p.m. Backup has arrived. Estimated 15,000 in Times Square

   5:49 p.m. Orange nets along Broadway.

   5:45 p.m. Five thousand more on their way from Liberty Square and other locations.

   5:30 p.m. Thousands arrive in Time Square. Now livestreaming: http://www.livestream.com/occu…

Greg Mitchel at The Nation has a great running account of the event in Times Square and from around the world with links: The OccupyUSA Blog: Special Weekend Edition!

Over 3,000 people gathered at Liberty Plaza in the pre-dawn hours this morning to defend the peaceful Occupation near Wall Street. The crowd cheered at the news that multinational real estate firm Brookfield Properties will postpone its so-called ‘cleanup’ of the park and that Mayor Bloomberg has told the NYPD to stand down on orders to remove protesters. On the eve of the October 15 global day of action against Wall Street greed, this development has emboldened the movement and sent a clear message that the power of the people has prevailed against Wall Street. …

On October 15th, Occupy Wall Street will demonstrate in concert over 951 cities in 82 countries and counting as people around the globe protest in an international day of solidarity against the greed and corruption of the 1%.

This is the Live Feed of #OWS from The Guardian: Occupy Wall Street live: protesters claim victory as clear-up called off

Follow all the developments after park owners call off a clear-up of the Occupy Wall Street camp in Zuccotti Park in New York

I strongly suspect the decision to call off the cleaning is but a temporary reprieve.  Emperor Mike used some pretty harsh language yesterday accusing the City Council members of “threatening” the owners of the park

Mr. Bloomberg, speaking later in the morning on his weekly radio program on WOR-AM (710), attributed the decision to postpone the cleaning to the company that owns the park, Brookfield Properties, which he said had been pressured to back off by elected officials. Mr. Bloomberg indicated that he had some misgivings about the decision, and was not sure what would happen next.

“Yesterday, as of 8 o’clock at night, they were going ahead to do it, but as of midnight they called and said they wanted to postpone the cleaning operations to see if they could work out an agreement with the protesters,” Mr. Bloomberg said. “My understanding is that Brookfield got lots of calls from many elected officials threatening them and saying if you don’t stop this we’ll make your life more difficult.”

That is an ugly allegation.

Bloomberg and his cronies will be back with some other reason to put an end to the protest. He must protect his fellow oligarchs from the embarrassment by the masses before the world. Right now it might create an international incident.

Solidarity hero Lech Walesa [sic] is flying to New York to show his support for the Occupy Wall Street protesters. “How could I not respond,” Walesa told a Polish newspaper Wednesday. “The thousands of people gathered near Wall Street are worried about the fate of their future, the fate of their country. This is something I understand.” []

Wałęsa says he’s coming to help protest economic “unfairness.” “Union leaders and capitalists need to figure out what to do, because otherwise they will have to contend with a worldwide revolt against capitalism,” he warned.

On October 15th people from all over the world will take to the streets and squares.

From America to Asia, from Africa to Europe, people are rising up to claim their rights and demand a true democracy. Now it is time for all of us to join in a global non violent protest.

The ruling powers work for the benefit of just a few, ignoring the will of the vast majority and the human and environmental price we all have to pay. This intolerable situation must end.

United in one voice, we will let politicians, and the financial elites they serve, know it is up to us, the people, to decide our future. We are not goods in the hands of politicians and bankers who do not represent us.

On October 15th, we will meet on the streets to initiate the global change we want. We will peacefully demonstrate, talk and organize until we make it happen.

It’s time for us to unite. It’s time for them to listen.

People of the world, rise up on October 15th!

Blogger extraordinaire, Jesse LaGreca, aka MinistryOfTruth, was interviewed by Susie Madrak of Crooks & Liars. Jesse recounted at Daily Kos about being assaulted by a man who was pitching a fit and looking for a fight and discovered that James O’Keefe was lurking in Liberty Park, as well as, some right wing trolls. He warned that the “Empire” is striking back.

The Los Angeles City Council has introduced a three page resolution in support of #OccupyLA that is expected to pass today. h/t Crooks & Liars

From Kevin Gosztola , who has been indefatigable in his coverage of #OWS at FDL:

The issue of the Democratic Party trying to co-opt the growing “Occupy” movement has become a topic of establishment media conversation. It is being discussed through the lens of whether this movement will do for Democrats what the Tea Party did for Republicans in 2010. It is also being discussed in terms of how to use the broad-based anger and energy to advance Democratic policy proposals in Congress. []

Democrats may believe “people are people” but they certainly haven’t done anything to address the issue of corporate personhood in America. The passage of the Credit Cardholder’s Bill of Rights is nothing to tout. As William Greider of The Nation wrote, it basically consisted of regulatory rules that had previously been adopted by the Federal Reserve. It gave the industry nine additional months to “gouge” customers before the new rules went into effect. And, Visa and MasterCard, Citigroup and JPMorgan Chase were “free to raise future interest rates to the sky-without limit.” Additionally, Schultz must be lunatic if she thinks this group is going to coalesce behind the nomination of Richard Cordray, whom Obama picked because he didn’t want to upset his Wall Street donors and push for Elizabeth Warren to be nominated. []

The people’s ability to influence power has been neutralized by corporate and special interest money. It has been neutralized by bureaucracies whose existence in government is more important than the damage they do to liberty and justice in society. And, it has been neutralized by two parties who give Americans the illusion of choice and cite the other party’s most frightening and upsetting features to intimidate citizens into perpetuating and reinforcing the worst aspects of the system.

The people have woken up. They won’t go to sleep because they realize the last option they have for improving their lives and the greater society is public rebellion. Everything else is futile.

Included in Kevin’s great analysis of the Democrats’ attempts to co-opt the OWS movement was this segment of “Hardball” with Chris Matthews and Ron Reagan

   REAGAN: This is a movement that has a broad-based anger and the challenge it seems to me for the Democratic Party if they want to somehow join the movement or co-opt the movement, however you want to put it, is that these folks are just as mad at them as they are with the Republicans. The Republicans may be more egregiously in the hip pocket of Wall Street and the bankers but the Democrats are too. There are plenty of Democratic congressmen and senators who have staked their whole careers on providing tax loopholes for the richest 1%. They’re not the natural allies of the “Occupy Wall Street” movement.

   MATTHEWS: And, by the way, let’s not forget the Democrats controlled both Houses of Congress and the White House at numerous times in our lifetime and they didn’t fix the tax system when they had all the power in the world. []

   REAGAN:The problem is, again, that these people are angry at a system that has been rigged by both parties to serve moneyed interests. The Democrats have been complicit in that just as the Republicans have been complicit in that. Your question to Debbie Wasserman-Schultz, “What are you going to offer these people?” is exactly the question. What are the Democrats going to offer these people? Are they going to throw some bankers in jail? Are they going to close the loopholes for the richest 1%? I’m not so sure that all the Democrats are on board with that.

   MATTHEWS: I wonder if both parties aren’t hoping for colder weather to come soon because then they can say what a great demonstration of unhappiness and how wonderful it’s over because then we don’t have to worry about it anymore.

Matthews is a clueless, twit. The cold didn’t stop the protests in Madison, WI.

If you can’t beat them then try to hijack their cause.

When I first wrote in defense of the Occupy Wall Street protests a couple of weeks ago, I suggested that much of the scorn then being expressed by many progressives was “grounded in the belief that the only valid form of political activism is support for Democratic Party candidates.” Since then, even the most establishment Democrats have fundamentally changed how they talk about the protests – from condescension and hostility to respect and even support – and The New York Times today makes clear one significant factor accounting for this change:

Leading Democratic figures, including party fund-raisers and a top ally of President Obama, are embracing the spread of the anti-Wall Street protests in a clear sign that members of the Democratic establishment see the movement as a way to align disenchanted Americans with their party.

The Democratic Congressional Campaign Committee, the party’s powerful House fund-raising arm, is circulating a petition seeking 100,000 party supporters to declare that “I stand with the Occupy Wall Street protests.”

The Center for American Progress, a liberal organization run by John D. Podesta, who helped lead Mr. Obama’s 2008 transition, credits the protests with tapping into pent-up anger over a political system that it says rewards the rich over the working class – a populist theme now being emphasized by the White House and the party. The center has encouraged and sought to help coordinate protests in different cities.

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Can that scheme work? Can the Occupy Wall Street protests be transformed into a get-out-the-vote organ of Obama 2012 and the Democratic Party? To determine if this is likely, let’s review a few relevant facts.

The last and best part of Glenn’s article is the up date:

UPDATE: Here are the top recipients of campaign donations from the “securities and investment” industry from 1989 through 2010 (h/t muddy thinking):

Click on image to enlarge

Would it not be a bit odd for a protest movement to “Occupy Wall Street” while simultaneously devoting itself to keeping Wall Street’s most lavishly funded politician in power?

Former Sen. Russ Feingold, founder of Progressives United, tells Keith he both supports and is excited about the Occupy protests. Feingold is calling on Democrats to not play “cautious politics” and to join the movement, saying conservatives are attempting to mock the protests because “they’re very nervous that this might work.” Feingold adds, “My sense is that there is great fear that this sweet deal that a lot of these people have in both Washington and New York … is finally being threatened and challenged.”