Archive for the ‘ Background ’ Category


This is Obama, Pelosi and the left’s movement. Obama is expressing sympathy in his desperate attempt to shift blame for his unprecedented debt crisis. Obama has racked up more debt in three years than all previous presidents combined.

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Blaming the Jews would be entirely consistent with a Frank Marshall-mentored, twenty-year Jeremiah Wright disciple like Barack Hussein. "Jewish bankers" and such sounds eerily like pre-war Germany.

NEW YORK (CBSNewYork) — “Blame the Jews.”

That’s the message one Wall Street protester was trying to spread in Lower Manhattan to anyone that would listen.

A new video posted to YouTube shows the protester loudly and aggressively proclaiming “the Jews control Wall Street.”

In the nearly 6-minute video, the man is seen standing in Zuccotti Park ranting against Israel and Jews while holding a sign reading “Hitler’s Bankers – Wall St.”

The protestor, who would not give his name to those gathered around him, is also seen arguing with members of the public who took offense to his choice of words.

A number of others also ask the protester if Fox News had paid him to stand and display his sign to which he responded: “[expletive] Fox News, that’s [expletive]. [Expletive] Jew made that up.”

Rush LImbaugh here:

Occupier, Occupy Wall Street Now.  I’ve often said, I said last week he who controls the definition of words, the meaning of words, controls the debate.  He who controls the language controls the debate.  There’s a lot of interesting stuff here.  Occupy Wall Street Now, 99%, that leaves 1%, roughly the percentage of Jews in the population, too.  And Wall Street and bankers have been anti-Semitic code for Jews in this country going back quite a while. 

Now, what’s happening here is that the Democrats… This is where Brooks may be on to something. It’s too early to tell. But the Democrats are embracing this group of people. They are embracing them big time. The Democrats — Jan Schakowsky in Illinois, members of Congress — cannot help themselves. They are embracing this group and encourages this group. Celebrities are showing up now. Kanye West shows up with Russell Simmons, and he was wearing his big gold chains, and he hung around for a while. He did a perp walk, signed some autographs and had to get out of there because he was mobbed by these people. But this Adbusters bunch has a history of anti-Semitism, proud anti-Semitism. (interruption) The article about Jewish "neocons" was just one of their pieces, Snerdley, that you mentioned here, along those lines.

And a lot of people, a lot of people like to think that Wall Street’s all made up of Jewish people. We’re the ones that mentioned this last week. We’re the first to tell you that Adbusters was deeply involved in this. I wouldn’t be surprised if Brooks got the idea from this program. I’m gonna do a content search and I’m gonna go back and I’m gonna get the exact thing I said about Adbusters last week or the week before, whenever it was ’cause now people are starting to pick up on this. So here’s the point: If this group is being organized and paid for by a bunch of anti-Semites and the Democrat Party goes overboard in embracing this group of people, then this could be problem for the Democrat coalition, not to mention the fact that they could unleash a bunch of anti-Jewish racism down there if they’re not careful with this, ’cause there’s much more going on here than you just see at the surface.



In the final episode of Meltdown, we hear about the sheikh who says the crash never happened; a Wall Street king charged with fraud; a congresswoman who wants to jail the bankers; and the world leaders who want a re-think of capitalism.

The financial crash of September 2008 brought the largest bankruptcies in world history, pushing over 30 million people into unemployment and bringing many countries to the brink of insolvency.

Sheikh Mohammed Bin Rashid al Maktoum calls himself Dubai’s CEO. He claims to run his government according to strict business principles, but now many are quietly questioning his judgement and his leadership.

In depth coverage of US financial crisis protests

In the years before the meltdown, Dubai had the biggest real-estate bonanza in the world. During the crash, the market tumbled, losing 50 per cent of its value, leaving Dubai virtually insolvent. But this did not deter the sheikh.

In January 2010, Sheikh Mohammed threw a massive party to mark the opening of the world’s tallest building – the Burj Khalifa – using PR strategies to suggest that the real estate crash was a good thing for the emirate.

As one world leader handles the crisis through denial, other leaders try to re-think capitalism. Even though the causes of the 2008 meltdown are now clear, there is no magic formula to stop it from happening again.

The world has to start planning for the next crisis, even as we recognise that this one is not over yet.

Own the Media own the democracy

The OccupyWallstreet protest has been three weeks old. At the very start there was no media coverage of OccupyWallstreet, None whatsoever. All major news outlets refused to acknowledge if there was protest on Wall Street.

American public had no idea that a massive movement was unfolding right in Media’s own backyard here in New York City. Within blocks from their offices, they could hear the sounds of marching, charging feet, and the roll of drums. A determined group of youth were about to start what has now become a full fledged national conversation and a movement touching the lives of millions of Americans, weighed in by the President and the members of Congress.


We have been covering Occupywallstreet from day one. So how do we know where to find what is happening in our country apart from the traditional assist from our media ? It is called Social Media. It is made up via Social contacts, where no one controls anything, and there are no limits, on any conversation. There are no gate keepers and Inkwell owners and print press owners, to hold back the truth.


What started on September 17 , 2011 in New York City has now become a national movement. From the start the Media deliberately ignored the events. But with the star powers of Michael Moore and Susan Sarandon, they had to report it and they did it in a very muted fashion.

You wonder if there is a protest or gathering in far off Arab lands like Tahrir Square, Tripoli or Tunisia the media is all over the Arab world and imprints every little detail, and throws a gauntlet of news stream around you so you can’t escape it. But when the events unfold in our own country ,and in our own backyard, and in New York City and Lower Manhattan, where the media is hunkered down, you don’t hear a thing ? Why? Because the gatekeepers decide you don’t need to know about Wall Street’s corruption and Greed and the imbalance of Wealth and Social inequality in America. They want to block your mind set like they have done numerous other times, and mold your opinions in a democracy, which will suit their own interests, and their own people. These are thoughts and ideas, that can dislodge a powerful elite in America and change the social structure forever.


The media in the US is made up of few giant sized news outlets. They are top down. Executives and editors decide what is good and whats bad for you in advance. But those were the days when cigar chomping fat cats would dictate a copy, place an order, and shout down your days worth of news.

But not anymore in this day and age. With the proliferation of Internet, it is at it’s best, degraded from it’s former glory. Now there is a thing called the Web and there are web sites like this one, that you are reading, who have just as much control on the news as they have. The proverbial inkwell is now replaced by the mighty Internet. It’s funny to see how these cigar chomping, aging, Media moguls are sitting like bewildered rabbits in this fast moving digital divide. They are completely out of their wits ! Some of them don’t even know how to operate laptops and computers. What has replaced them and degraded them into such antiquity ? Twitter, Face book, You Tube and Iphone and the newly emerging technologies plus the growing population of Americans.

Now there is no need to have a paid camera men shooting film for the evening news cast. Anyone with a cell phone can just shoot a segment and upload it on You tube where it will be picked up by millions without any royalties or hassles. It is all free to access and use. The video attached here is an example of this brand of Journalism that is free and open and knows no bounds.


The Unions have been demonstrating against Wall Street’s greed for the last three years. You probably never heard about or did you? Every time they will come in New York and demonstrate the Media will ignore them flat out. They will picket and demonstrate the old fashioned way. The old crowd was totally ineffective against the owners of democracy the traditional US Media .The media has protected Wall Street for three long years and the Unions have failed to make a dent themselves and their voices heard.

This is what the Media did to the OccupyWallstreet movement. Ignored them flat out and completely- just like the Unions. But here comes America’s elite from Ivy League schools, students from Fordham, Columbia and Harvard and other places, who have been dealt a severe blow in this economic downturn. They had nowhere to go. They had nothing to lose. They were young. They knew their way around Internet. They had the technology on their side. They had the Media in their own hands. Twitter, Face book and You tube. It didn’t take long for the conversation and awareness to spread like wild fire. Live stream broadcasts gave viewers minute by minute updates. A movement was born out of nowhere puzzling the traditional gatekeepers as it spread to nationally just under three weeks.

It was only when the news became too big to ignore, than the US media got involved. Their own credibility took a hit, and they reported it with condescending attitude and ridicule. You can see in this video, how they get treated as the crowd chants and ridicules back.


The media does not wants you to know there is a protest against big banks. As always the media has protected the rich and powerful elite. They are cut from the same cloth as the rich Wall Street Barron and Institutions. They are their mouth pieces. They hardly have any sympathy to the poor in America or those who have suffered long and hard in this economic distress. They have no reason to be on the side of those who have lost jobs, homes and the American Dream.

They will continue to muddle the waters and shine the spotlight somewhere else. The only thing you can do is peel yourself off their grip and create your own media and enjoy the benefits like we do.


Distressed homeowners join anti- corporate movement

Published: 11 October, 2011, 01:15


The Occupy demonstrations we are seeing in cities throughout the US have encouraged diverse groups to march in the streets.

In Los Angeles, homeowners facing foreclosure loudly expressed their shared grievances of the Occupy Wall Street movement and are planning to fight back.

Ten protesters took over the lobby of a Bank of America branch in Los Angeles and were willing to get arrested in order to send a clear message to Wall Street.

“We’re here to let the banksters know, you’ve stolen all the money from the land and we want it back,” said Peggy Mears, a protester yelling through a microphone.

More than a thousand people took to the streets of Los Angeles to speak out against the nation’s biggest banks and the role they played in the financial crisis.  Protesters from Occupy Los Angeles joined the demonstration in solidarity with foreclosed homeowners and union workers, demanding that banks pay up.

Dozens of police officers, many in riot gear, were called to keep the crowd under control.

The anti corporate mobilizations, which started in New York, are spreading and now some of those most affected by the nation’s economic crisis are joining in.

Rose Gudiel received an eviction notice after falling behind on her mortgage payments.

“I’m a state worker and due to that I was furloughed and they lowered my hours so they also lowered my pay,” said Gudiel.

Gudiel also had a death in her family, which caused further financial hardship. She claims her bank refused to deal with her when she tried to renegotiate her mortgage.Gudiel was arrested during a peaceful sit in earlier in the week, but she believes that this type of political action will bring results.

“They’ve been governing our lives, our money, and just taking it,” said Gudiel. “There has to be a stand and this is the stand that you’re seeing at this point,” Gudiel added.

From struggling homeowners to the unemployed, people of all walks of life are becoming emboldened by the recent street demonstrations.

“Two years ago I lost my job due to the economic meltdown that the banks created,” said Javier Sarmiento, an unemployed homeowner.

Sarmiento used to work at an auto parts plant.  He is part of the 4.5 million people who have been unemployed for more than a year. Now, this father of two is struggling to hold on to his home.

“Wall Street created this mess and they should be held accountable,” Sarmiento said.

Diverse groups have made up the mobilizations in cities across America in recent weeks as more people become inspired to vent their frustration with our financial and political institutions.

“Dissent is the highest form of patriotism,” said Dr. Cornell West to demonstrators in downtown Los Angeles.

There is still uncertainty about whether these protests will cause direct change or whether other self-interested groups will try to capitalize on the popularity. But it appears that the financial state of the nation, has helped motivate Americans to take democracy to the streets.

Source: Russia Today

Who are THE 1%? See this complete list of the 200 Richest American


Rank Name Net Worth Age Residence Source
1 Bill Gates

Bill Gates

$59 B 55 Medina, Washington Microsoft
2 Warren Buffett

Warren Buffett

$39 B 81 Omaha, Nebraska Berkshire Hathaway
3 Larry Ellison

Larry Ellison

$33 B 67 Woodside, California Oracle
4 Charles Koch

Charles Koch

$25 B 75 Wichita, Kansas diversified
4 David Koch

David Koch

$25 B 71 New York, New York diversified
6 Christy Walton

Christy Walton

$24.5 B 56 Jackson, Wyoming Wal-Mart
7 George Soros

George Soros

$22 B 81 Katonah, New York hedge funds
8 Sheldon Adelson

Sheldon Adelson

$21.5 B 78 Las Vegas, Nevada casinos
9 Jim Walton

Jim Walton

$21.1 B 63 Bentonville, Arkansas Wal-Mart
10 Alice Walton

Alice Walton

$20.9 B 61 Fort Worth, Texas Wal-Mart
11 S. Robson Walton

S. Robson Walton

$20.5 B 67 Bentonville, Arkansas Wal-Mart
12 Michael Bloomberg

Michael Bloomberg

$19.5 B 69 New York, New York Bloomberg LP
13 Jeff Bezos

Jeff Bezos

$19.1 B 47 Seattle, Washington
14 Mark Zuckerberg

Mark Zuckerberg

$17.5 B 27 Palo Alto, California Facebook
15 Sergey Brin

Sergey Brin

$16.7 B 38 Los Altos, California Google
15 Larry Page

Larry Page

$16.7 B 38 Palo Alto, California Google
17 John Paulson

John Paulson

$15.5 B 55 New York, New York hedge funds
18 Michael Dell

Michael Dell

$15 B 46 Austin, Texas Dell
19 Steve Ballmer

Steve Ballmer

$13.9 B 55 Hunts Point, Washington Microsoft
20 Forrest Mars

Forrest Mars

$13.8 B 80 Big Horn, Wyoming candy
20 Jacqueline Mars

Jacqueline Mars

$13.8 B 71 The Plains, Virginia candy
20 John Mars

John Mars

$13.8 B 75 Jackson, Wyoming candy, pet food
23 Paul Allen

Paul Allen

$13.2 B 58 Mercer Island, Washington Microsoft, investments
24 Phil Knight

Phil Knight

$13.1 B 73 Hillsboro, Oregon Nike
25 Carl Icahn

Carl Icahn

$13 B 75 New York, New York leveraged buyouts
26 Donald Bren

Donald Bren

$12 B 79 Newport Beach, California real estate
26 Anne Cox Chambers

Anne Cox Chambers

$12 B 91 Atlanta, Georgia media
26 Ronald Perelman

Ronald Perelman

$12 B 68 New York, New York leveraged buyouts
29 Abigail Johnson

Abigail Johnson

$11.7 B 49 Milton, Massachusetts Fidelity
30 James Simons

James Simons

$10.6 B 73 East Setauket, New York hedge funds
31 George Kaiser

George Kaiser

$10 B 69 Tulsa, Oklahoma oil & gas, banking
32 Len Blavatnik

Len Blavatnik

$9.5 B 54 London, N/A diversified
33 Harold Simmons

Harold Simmons

$9.3 B 80 Dallas, Texas investments
34 Jack Taylor

Jack Taylor

$9 B 89 St. Louis, Missouri Enterprise Rent-A-Car
35 Steve Cohen

Steve Cohen

$8.3 B 55 Greenwich, Connecticut hedge funds
36 Harold Hamm

Harold Hamm

$7.5 B 65 Oklahoma City, Oklahoma oil & natural gas
37 Rupert Murdoch

Rupert Murdoch

$7.4 B 80 New York, New York News Corp
38 James Goodnight

James Goodnight

$7.1 B 68 Cary, North Carolina SAS Institute
39 Philip Anschutz

Philip Anschutz

$7 B 71 Denver, Colorado investments
39 Andrew Beal

Andrew Beal

$7 B 58 Dallas, Texas banks, real estate
39 Steve Jobs

Steve Jobs

$7 B 56 Palo Alto, California Apple, Pixar
39 Patrick Soon-Shiong

Patrick Soon-Shiong

$7 B 59 Los Angeles, California generic drugs
43 Samuel Newhouse

Samuel Newhouse

$6.6 B 83 New York, New York Conde Nast
44 Ray Dalio

Ray Dalio

$6.5 B 62 Greenwich, Connecticut hedge funds
44 Edward Johnson

Edward Johnson

$6.5 B 81 Boston, Massachusetts Fidelity
46 Charles Ergen

Charles Ergen

$6.4 B 58 Denver, Colorado EchoStar
46 Richard Kinder

Richard Kinder

$6.4 B 66 Houston, Texas pipelines
48 Eli Broad

Eli Broad

$6.3 B 78 Los Angeles, California investments
48 Leonard Lauder

Leonard Lauder

$6.3 B 78 New York, New York Estee Lauder
50 Pierre Omidyar

Pierre Omidyar

$6.2 B 44 Honolulu, Hawaii Ebay
50 Eric Schmidt

Eric Schmidt

$6.2 B 56 Atherton, California Google
52 Ralph Lauren

Ralph Lauren

$6.1 B 71 New York, New York Ralph Lauren
53 Jim Kennedy

Jim Kennedy

$6 B 63 Atlanta, Georgia media
53 Blair Parry-Okeden

Blair Parry-Okeden

$6 B 60 Scone, N/A media
55 Donald Newhouse

Donald Newhouse

$5.9 B 81 Somerset County, New Jersey Conde Nast
55 Ira Rennert

Ira Rennert

$5.9 B 77 Sagaponack, New York investments
57 Charles Butt

Charles Butt

$5.7 B 73 San Antonio, Texas supermarkets
58 David Geffen

David Geffen

$5.5 B 68 Malibu, California movies, music
59 Jeffrey Hildebrand

Jeffrey Hildebrand

$5.3 B 52 Houston, Texas Oil
60 Richard DeVos

Richard DeVos

$5 B 85 Holland, Michigan Amway
60 Richard LeFrak

Richard LeFrak

$5 B 66 New York, New York real estate
60 Frederik G.H. Meijer

Frederik G.H. Meijer

$5 B 91 Grand Rapids, Michigan supermarkets
60 Thomas Peterffy

Thomas Peterffy

$5 B 67 Greenwich, Connecticut discount brokerage
60 David Tepper

David Tepper

$5 B 54 Livingston, New Jersey hedge funds
60 Dennis Washington

Dennis Washington

$5 B 77 Missoula, Montana construction, mining
66 Robert Rowling

Robert Rowling

$4.7 B 57 Dallas, Texas investments
66 Stephen Schwarzman

Stephen Schwarzman

$4.7 B 64 New York, New York investments
66 Sam Zell

Sam Zell

$4.7 B 69 Chicago, Illinois real estate, private equity
69 Rupert Johnson

Rupert Johnson

$4.5 B 70 Burlingame, California Franklin Resources
69 John Malone

John Malone

$4.5 B 70 Elizabeth, Colorado cable television
69 John Menard

John Menard

$4.5 B 71 Eau Claire, Wisconsin Retail
72 Charles Johnson

Charles Johnson

$4.4 B 78 Hillsborough, California financial services
73 Ray Lee Hunt

Ray Lee Hunt

$4.3 B 68 Dallas, Texas oil, real estate
73 Bruce Kovner

Bruce Kovner

$4.3 B 66 New York, New York hedge funds
75 Micky Arison

Micky Arison

$4.2 B 62 Bal Harbour, Florida Carnival Cruises
75 Leonard Stern

Leonard Stern

$4.2 B 73 New York, New York real estate
75 Daniel Ziff

Daniel Ziff

$4.2 B 39 New York, New York investments
75 Dirk Ziff

Dirk Ziff

$4.2 B 47 North Palm Beach, Florida investments
75 Robert Ziff

Robert Ziff

$4.2 B 45 New York, New York investments
80 Sumner Redstone

Sumner Redstone

$4.1 B 88 Beverly Hills, California Viacom
81 John Paul DeJoria

John Paul DeJoria

$4 B 67 Austin, Texas hair products, tequila
81 David Green

David Green

$4 B 69 Oklahoma City, Oklahoma Hobby Lobby
81 William Koch

William Koch

$4 B 71 Palm Beach, Florida oil, investments
81 Roger Wang

Roger Wang

$4 B 62 Nanjing, Jiangsu retail
85 Leslie Wexner

Leslie Wexner

$3.8 B 74 New Albany, Ohio retail
86 Henry Kravis

Henry Kravis

$3.7 B 67 New York, New York leveraged buyouts
86 Gordon Moore

Gordon Moore

$3.7 B 82 Woodside, California Intel
88 Robert Bass

Robert Bass

$3.6 B 63 Fort Worth, Texas oil, investments
88 Jin Sook & Do Won Chang

Jin Sook & Do Won Chang

$3.6 B 56 Beverly Hills, California retail
88 Trevor Rees-Jones

Trevor Rees-Jones

$3.6 B 60 Dallas, Texas Oil & Gas
91 John Arnold

John Arnold

$3.5 B 37 Houston, Texas hedge funds
91 Dustin Moskovitz

Dustin Moskovitz

$3.5 B 27 San Francisco, California Facebook
91 Henry Ross Perot

Henry Ross Perot

$3.5 B 81 Dallas, Texas computer services, real estate
91 John Sall

John Sall

$3.5 B 63 Cary, North Carolina SAS Institute
91 Charles Schwab

Charles Schwab

$3.5 B 74 Atherton, California discount brokerage
96 Dannine Avara

Dannine Avara

$3.4 B 47 Houston, Texas pipelines
96 Gayle Cook

Gayle Cook

$3.4 B 77 Bloomington, Indiana medical devices
96 Scott Duncan

Scott Duncan

$3.4 B 28 Houston, Texas Pipelines
96 Milane Frantz

Milane Frantz

$3.4 B 42 Houston, Texas Pipelines
96 Bruce Halle

Bruce Halle

$3.4 B 81 Paradise Valley, Arizona Discount Tire

96 George Roberts

George Roberts

$3.4 B 68 Atherton, California leveraged buyouts
96 Randa Williams

Randa Williams

$3.4 B 50 Houston, Texas Pipelines
103 Ann Walton Kroenke

Ann Walton Kroenke

$3.3 B 62 Columbia, Missouri Wal-Mart
103 Ronald Lauder

Ronald Lauder

$3.3 B 67 New York, New York Estee Lauder
103 Ted Lerner

Ted Lerner

$3.3 B 85 Chevy Chase, Maryland real estate
103 Patrick McGovern

Patrick McGovern

$3.3 B 74 Hollis, New Hampshire media
107 Leon Black

Leon Black

$3.2 B 60 New York, New York private equity
107 Ron Burkle

Ron Burkle

$3.2 B 58 London, N/A supermarkets, investments
107 Paul Tudor Jones

Paul Tudor Jones

$3.2 B 56 Greenwich, Connecticut hedge funds
107 Stanley Kroenke

Stanley Kroenke

$3.2 B 64 Columbia, Missouri sports, real estate
107 George Lucas

George Lucas

$3.2 B 67 San Anselmo, California Star Wars
107 John A. Sobrato

John A. Sobrato

$3.2 B 72 Atherton, California real estate
107 Steven Udvar-Hazy

Steven Udvar-Hazy

$3.2 B 65 Beverly Hills, California aircraft leasing
114 Barbara Piasecka Johnson

Barbara Piasecka Johnson

$3.1 B 74 Monte Carlo, N/A Johnson & Johnson
114 Terrence Pegula

Terrence Pegula

$3.1 B 60 Boca Raton, Florida natural gas
114 Stephen Ross

Stephen Ross

$3.1 B 71 New York, New York real estate
117 Riley Bechtel

Riley Bechtel

$3 B 59 San Francisco, California engineering, construction
117 Stephen Bechtel

Stephen Bechtel

$3 B 86 San Francisco, California engineering, construction
117 Barbara Carlson Gage

Barbara Carlson Gage

$3 B 69 Long Lake, Minnesota hotels, restaurants
117 Martha Ingram

Martha Ingram

$3 B 76 Nashville, Tennessee book distribution, transportation
117 James Jannard

James Jannard

$3 B 62 San Juan Islands, Washington sunglasses
117 Kirk Kerkorian

Kirk Kerkorian

$3 B 94 Beverly Hills, California casinos, investments
117 Edward Lampert

Edward Lampert

$3 B 48 Greenwich, Connecticut investments
117 Marilyn Carlson Nelson

Marilyn Carlson Nelson

$3 B 72 Long Lake, Minnesota hotels, restaurants
117 Mitchell Rales

Mitchell Rales

$3 B 55 Potomac, Maryland manufacturing
117 Lynn Schusterman

Lynn Schusterman

$3 B 72 Tulsa, Oklahoma oil & gas, investments
117 Steven Spielberg

Steven Spielberg

$3 B 64 Pacific Palisades, California movies
128 Haim Saban

Haim Saban

$2.9 B 66 Beverly Hills, California television
128 Donald Trump

Donald Trump

$2.9 B 65 New York, New York television, real estate
130 Robert Friedland

Robert Friedland

$2.8 B 61 Singapore, N/A mining
130 Thomas Frist

Thomas Frist

$2.8 B 73 Nashville, Tennessee health care
130 Victor Fung

Victor Fung

$2.8 B 65 Hong Kong, N/A Retail
130 Rodney Lewis

Rodney Lewis

$2.8 B 57 San Antonio, Texas natural gas
130 Warren Stephens

Warren Stephens

$2.8 B 54 Little Rock, Arkansas investment banking
130 David Sun

David Sun

$2.8 B 59 Irvine, California information technology
130 Joan Tisch

Joan Tisch

$2.8 B 85 New York, New York diversified
130 John Tu

John Tu

$2.8 B 70 Rolling Hills, California information technology
130 Steve Wynn

Steve Wynn

$2.8 B 69 Las Vegas, Nevada casinos, hotels
139 William Conway

William Conway

$2.7 B 62 McLean, Virginia leveraged buyouts
139 Daniel D'Aniello

Daniel D’Aniello

$2.7 B 65 Vienna, Virginia leveraged buyouts
139 Malcolm Glazer

Malcolm Glazer

$2.7 B 83 Palm Beach, Florida sports teams, real estate
139 Timothy Headington

Timothy Headington

$2.7 B 61 Dallas, Texas oil & gas, investments
139 Nancy Walton Laurie

Nancy Walton Laurie

$2.7 B 60 Henderson, Nevada Wal-Mart
139 James Leprino

James Leprino

$2.7 B 73 Indian Hills, Colorado cheese
139 David Murdock

David Murdock

$2.7 B 88 Los Angeles, California Dole, real estate
139 Steven Rales

Steven Rales

$2.7 B 60 Washington, District of Columbia manufacturing
139 David Rubenstein

David Rubenstein

$2.7 B 62 Bethesda, Maryland leveraged buyouts
139 Jeffrey Skoll

Jeffrey Skoll

$2.7 B 46 Los Altos, California Ebay
139 Oprah Winfrey

Oprah Winfrey

$2.7 B 57 Chicago, Illinois Television
150 Charles Dolan

Charles Dolan

$2.6 B 84 Oyster Bay, New York cable television
150 Archie Aldis Emmerson

Archie Aldis Emmerson

$2.6 B 82 Redding, California timberland, lumber mills
150 Robert Holding

Robert Holding

$2.6 B 84 Sun Valley, Idaho oil, resorts
150 Pauline MacMillan Keinath

Pauline MacMillan Keinath

$2.6 B 77 St. Louis, Missouri Cargill Inc.
150 Cargill MacMillan

Cargill MacMillan

$2.6 B 84 Indian Wells, California Cargill Inc.
150 Whitney MacMillan

Whitney MacMillan

$2.6 B 82 Minneapolis, Minnesota Cargill Inc.
150 Daniel Och

Daniel Och

$2.6 B 50 New York, New York hedge funds
150 Igor Olenicoff

Igor Olenicoff

$2.6 B 69 Lighthouse Point, Florida real estate
150 Marion MacMillan Pictet

Marion MacMillan Pictet

$2.6 B Hamilton, N/A Cargill Inc.
159 Stanley Druckenmiller

Stanley Druckenmiller

$2.5 B 58 New York, New York hedge funds
159 Tom Gores

Tom Gores

$2.5 B 47 Beverly Hills, California private equity
159 Anthony Pritzker

Anthony Pritzker

$2.5 B 50 Los Angeles, California hotels, investments
159 Jay Robert (J.B.) Pritzker

Jay Robert (J.B.) Pritzker

$2.5 B 46 Chicago, Illinois hotels, investments
159 David Rockefeller

David Rockefeller

$2.5 B 96 Sleepy Hollow, New York Standard Oil, banking
159 Donald Schneider

Donald Schneider

$2.5 B 75 Green Bay, Wisconsin trucking
159 Alfred Taubman

Alfred Taubman

$2.5 B 87 Bloomfield Hills, Michigan real estate
166 Ray Dolby

Ray Dolby

$2.4 B 78 San Francisco, California Dolby Laboratories
166 Randal Kirk

Randal Kirk

$2.4 B 57 Belspring, Virginia pharmaceuticals
166 Julian Robertson

Julian Robertson

$2.4 B 79 New York, New York hedge funds
166 Phillip Ruffin

Phillip Ruffin

$2.4 B 76 Las Vegas, Nevada casinos, real estate
166 Ty Warner

Ty Warner

$2.4 B 67 Oak Brook, Illinois Beanie Babies
171 Nicolas Berggruen

Nicolas Berggruen

$2.3 B 50 Beverly Hills, California investments
171 Christopher Cline

Christopher Cline

$2.3 B 53 North Palm Beach, Florida coal
171 Mark Cuban

Mark Cuban

$2.3 B 53 Dallas, Texas online media
171 John Doerr

John Doerr

$2.3 B 60 Woodside, California venture capital
171 Ken Griffin

Ken Griffin

$2.3 B 42 Chicago, Illinois hedge funds
171 Tamara Gustavson

Tamara Gustavson

$2.3 B 49 Malibu, California self storage
171 Amos Hostetter

Amos Hostetter

$2.3 B 74 Boston, Massachusetts cable television
171 H. Wayne Huizenga

H. Wayne Huizenga

$2.3 B 73 Fort Lauderdale, Florida investments
171 H. Fisk Johnson

H. Fisk Johnson

$2.3 B 53 Racine, Wisconsin SC Johnson & Sons
171 Imogene Powers Johnson

Imogene Powers Johnson

$2.3 B 81 Racine, Wisconsin SC Johnson & Sons
171 S. Curtis Johnson

S. Curtis Johnson

$2.3 B 56 Racine, Wisconsin SC Johnson & Sons
171 Helen Johnson-Leipold

Helen Johnson-Leipold

$2.3 B 54 Racine, Wisconsin SC Johnson
171 Winnie Johnson-Marquart

Winnie Johnson-Marquart

$2.3 B 52 Virginia Beach, Virginia SC Johnson & Sons
171 Peter Kellogg

Peter Kellogg

$2.3 B 69 Short Hills, New Jersey investments
171 A. Jerrold Perenchio

A. Jerrold Perenchio

$2.3 B 80 Bel Air, California television
171 Richard Rainwater

Richard Rainwater

$2.3 B 67 Fort Worth, Texas real estate, energy, insurance
171 Ronda Stryker

Ronda Stryker

$2.3 B 57 Portage, Michigan medical technology
188 Peter Buck

Peter Buck

$2.2 B 80 Danbury, Connecticut Subway Restaurants
188 Jack Dangermond

Jack Dangermond

$2.2 B 66 Redlands, California mapping software
188 Fred DeLuca

Fred DeLuca

$2.2 B 63 Fort Lauderdale, Florida Subway Restaurants
188 Philip Falcone

Philip Falcone

$2.2 B 49 New York, New York hedge funds
188 Bill Gross

Bill Gross

$2.2 B 67 Laguna Beach, California investments
188 William Randolph Hearst

William Randolph Hearst

$2.2 B 62 San Francisco, California Hearst Corp
188 Diane Hendricks

Diane Hendricks

$2.2 B 64 Afton, Wisconsin roofing
188 Henry Hillman

Henry Hillman

$2.2 B 92 Pittsburgh, Pennsylvania investments
188 Mary Alice Dorrance Malone

Mary Alice Dorrance Malone

$2.2 B 61 Coatesville, Pennsylvania Campbell Soup
188 George Mitchell

George Mitchell

$2.2 B 92 The Woodlands, Texas oil & gas
188 William Wrigley

William Wrigley

$2.2 B 47 Lake Forest, Illinois chewing gum
188 Mortimer Zuckerman

Mortimer Zuckerman

$2.2 B 74 New York, New York real estate, media
200 Lee Bass

Lee Bass

$2.1 B 55 Fort Worth, Texas oil, investments

And They Say Occupy Wall Street Has No Message: 10 Docs That Spell It Out

by Bryce J. Renninger

When the occupation of Wall Street began a few weeks ago, any acknowledgment in the mainstream media was plagued with refrains designed to suggest that they were a motley crew of 21st-century hippies: What’s the message? What are they fighting for? Do they not know that the computers and mobile phones they’re using spreading their message are owned by corporations?

True, the message is diffuse, but the effects of globalized capitalism are vast and the intricacies of capitalism are too intricate for all of the protesters’ sentiments to be encapsulated on the blank side of a pizza box. However, the documentary world has had its finger on the pulse for years.

Here’s indieWIRE’s list of 10 documentaries that provide a primer on what Occupy Wall Street is about.

“The Corporation,” Mark Achbar & Jennifer Abbott (How to Find))

Even before the Citizens United Supreme Court case solidified the legal recognition of the corporation as person when it comes to campaign contributions, Canadian filmmakers Mark Achbar and Jennifer Abbott created “The Corporation” to bring attention to the ways that corporations, with the help of the legal system are able to exploit, with little restraint, people and land in the name of profits.  The film also recognizes the corporation as a person—attempting to diagnose the corporation using the DSM-IV as if the corporation showed up to a psychologist to cure its ills.

“Enron: The Smartest Guys in the Room,” Alex Gibney (How to Find)

Alex Gibney rose to fame as a documentary master with this documentary about the practices of Enron Corp.  Formerly one of the world’s largest energy companies, Enron fell when its top executives were prosecuted for their corrupt accounting.

“Food, Inc.,” Robert Kenner (How to Find)

Building off of two popular examinations of the food industry—Michael Pollan’s “The Omnivore’s Dilemma” and Eric Schlosser’s “Fast Food Nation”—Kenner’s doc examines the effect of a corporate food culture from various aspects of the food chain. The doc takes a look at the effects of the Monsanto corporation’s ownership of patents on soybean strains on local farmers, the effects of shifting food prices on low-income families and elicits hope from the local and organic food movement.

“Inside Job,” Charles Ferguson (How to Find)

Last year’s Best Documentary Oscar winner, “Inside Job” is like a college lecture—a really entertaining, illuminating, shocking college lecture. Ferguson, director of the Oscar-nominated “No End in Sight,” was able to get incredible interviews with members of the financial elite—especially top professors in the nation’s top business schools, who don’t end up looking so reputable. Provides an invaluable look at the political conspiracy that allowed the financial crisis—especially through an easy-to-understand explanation of the subprime mortgage crisis—to occur unpunished.

“Iraq for Sale: The War Profiteers,” Robert Greenwald (How to Find)

In his farewell address to the nation, President Dwight D. Eisenhower coined the term “military-industrial complex” to describe the dangerous collusion between corporate institutions and the military. His concerns have been compounded by the expansion of corporations’ role in the execution of war. The contemporary state of the military-industrial complex in the early years of the Iraq War is the heart of Greenwald’s doc.

“Roger & Me,” Michael Moore (How to Find)

Though he is a polarizing figure even in progressive circles, Michael Moore’s 1989 love letter to populism in his hometown of Flint, Michigan, “Roger & Me” remains a striking indictment of US corporate culture and the potential vibrancy of a powerful workers’ movement.

“The Shock Doctrine,” Mat Whitecross & Michael Winterbottom (How to Find)

Naomi Klein has already taken a strong stance on the Occupy Wall Street mission, calling it “the most important thing in the world now” at The Nation. The sentiments of her words about the mechanisms with which corporations are able to garner the policies that most benefit them—which made up her bestseller “The Shock Doctrine”—are available to view in this doc co-directed by Michael Winterbottom.

“Sicko,” Michael Moore (How to Find)

One of Moore’s most measured documentaries (though it does include a stunt where 9/11 workers who cannot afford care in the US are taken to Cuba to receive free care), “Sicko” uses examples of universal health care success across the world to make the case that it’s not the scary prospect as the insurance industry—and the politicians that receive campaign contributions from them—want you to believe.

“Wal-Mart: The Cost of Low Price,” Robert Greenwald (How to Find)

Robert Greenwald’s documentary profiles the most direct example of the self-perpetuating system of capitalism—where cheap prices justify sub-par working conditions, benefits and pay for many.

“The Yes Men Fix the World,” Andy Bichlbaum & Mike Bonanno (How to Find)

The Yes Men, the anti-globalization performance duo behind the “good news” New York Times, which announced the end of the Iraq War, have documented their hijinks in two films, and in this 2009 documentary, they show what happens when they apologize for the Bhopal disaster on behalf of Dow Chemical and garner applause at corporate events with their outlandish presentations that make explicit corporate greed and indifference to certain human lives.

The Financial Panic of 1907: Running from History

Just over 100 years ago, Americans panicked as brokerage firms went bankrupt and investors pulled their money out of banks, instigating a nation-wide crisis

By Abigail Tucker

Robert F. Bruner is the dean of the University of Virginia’s Darden Graduate School of Business Administration. Last year, he and Sean D. Carr, the Director of Corporate Innovation Programs at the Darden Schools’ Batten Institute, published "The Panic of 1907: Lessons Learned From the Market’s Perfect Storm," detailing a historic financial crisis eerily similar to the one now gripping Wall Street.

J.P. Morgan was a successful financier and organized the rescue of several major institutions during the panic of 1907.

What was the Panic of 1907, and what caused it?
The Panic of 1907 was a six-week stretch of runs on banks in New York City and other American cities in October and early November of 1907. It was triggered by a failed speculation that caused the bankruptcy of two brokerage firms. But the shock that set in motion the events to create the Panic was the earthquake in San Francisco in 1906. The devastation of that city drew gold out of the world’s major money centers. This created a liquidity crunch that created a recession starting in June of 1907.

In 2008 , is the housing market the culprit this time?
Today’s panic was triggered by the surprising discovery of higher defaults on subprime mortgages than anybody expected. This discovery occurred in late 2006 and early 2007. A panic always follows a real economic shock; panics are not random occurrences of market emotions. They are responses to unambiguous, surprising, costly events that spook investors.

But the first cause of a panic is the boom that precedes the panic. Every panic has been preceded by a very buoyant period of growth in the economy. This was true in 1907 and it was true in advance of 2007.

What are the differences between the panic of 1907 and the crisis of 2008?
Three factors stand out: higher complexity, faster speed and greater scale.

The complexity of markets today is magnitudes higher than a century ago. We have subprime loans that even the experts aren’t sure how to value. We have trading positions, very complicated combinations of securities held by major institutions, on which the exposure is not clear. And we have the institutions themselves that are so complicated that it’s hard to tell who among them is solvent and who is failing.

Then there is greater speed: we enjoy Internet banking and wire transfers that allow funds to move instantaneously across institutions across borders. And news now travels at the speed of light. Markets react immediately and this accelerates the pace of the panic.

The third element is scale. We’ve just past the TARP, the Troubled Asset Relief Program, funded at $ 700 billion. There may be another $500 billion in credit default swaps that will need to be covered. And there are billions more in other exposures. We could be looking at a cost in trillions. In current dollars, these amounts may well dwarf any other financial crisis in history. In terms of sheer human misery,the Crash of 1929 and the Great Depression still overshadow other financial crises, even today’s. But we aren’t done with the current crisis; surely it already stands out as one of the largest crises in all of financial history.

Describe J.P. Morgan and how he fit into Wall Street’s culture in 1907.
J.P. Morgan was 70 years old at the time of the Panic. He was in the twilight of his extraordinarily successful career as a financier of the boom era, the Gilded Age of American expansion from 1865 to roughly 1900. He had engineered the mergers of firms that we would recognize today as still dominant—U.S. Steel, American Telephone and Telegraph, General Electric and the like. He was widely respected. In fact, the popular press personified him as the very image of the American capitalist. The little fellow on the Monopoly box with the striped pants and the balding head looks vaguely like J.P. Morgan.

He was a remarkable person. He had deep and extensive relations throughout the financial and business communities, and this is one of the keys to the leadership he exercised in the panic. He was a man of action; he galvanized people.

What did Morgan do to stop the panic?
You quell panics by organizing collective action to rescue institutions and generally convey confidence back into the market. Morgan was called back from Richmond, Va. by his partners when the panic hit. He took the equivalent of a red-eye flight, attaching his private Pullman car to a steam engine and hurtling back to New York City overnight. He arrived on Sunday, October 20th and immediately convened a meeting of the leading financiers at his mansion on 34th Street. He chartered working groups to get the facts and then over the next several weeks deployed the information to organize successive rescues of the major institutions. He did allow some institutions to fail, because he judged that they were insolvent already. But of the institutions that he declared he would save, every one survived.

Wall Street with Trinity Church in the distance.

Was Morgan practicing a kind of "profitable patriotism"?
Nowhere in the archives could I find an expression of principles or sentiment by J.P. Morgan to suggest that he was trying to save the system because the free market is good or because capitalism is better than the alternative economic systems. But we can say that Morgan had lived through perhaps half a dozen anguishing financial crises and that he understood the extraordinary disruptions panics could cause. Morgan devoted his career to developing the industrial base of the United States and felt that destabilizing forces should be fought in order to sustain this legacy. And he felt a great sense of duty to the backers who supported this extraordinary episode of growth.


Panic erupts outside the United States Subtreasury building in New York

Is Warren Buffet the new "Jupiter" of Wall Street, as Morgan was called?
It’s an appropriate comparison and yet there are big differences. The points of similarity are obvious: two very bright individuals, widely respected, able to mobilize large sums of money on short notice. But Morgan was an anchor of the East Coast establishment and Warren Buffet rather recoils from that role. He likes living in Omaha, and he shuns some folkways of the East Coast elite.

In 1907, was the average American fonder of the Wall Street titans than "Joe Six-Pack" is today?
No. There was a growing distrust among average Americans toward the financial community in 1907—this reflected the extensive social changes in America. The Gilded Age spawned the age of Progressivism. Progressives gained traction because the incredible industrial expansion of the Gilded Age carried with it rising economic inequality, major societal changes (such as urbanization and industrialization), and shifts in political power. America saw the rise of movements involving worker safety and the new urban poor. Over a million people immigrated to the U.S. in 1907 alone, which was associated with urban crowding, problems of public health, and poverty. And of course the Gilded Age also produced extraordinary companies such as Standard Oil. John D. Rockefeller was the epitome of the monopolist who sought to corner industrial production in certain commodities. In 1907, Teddy Roosevelt gave two speeches that raised the level of hostility that the Progressives and the American public in general felt toward the financial community. In one speech Roosevelt referred to the "predatory man of wealth."

What reforms followed the 1907 panic?
Most importantly, it led to the founding of the U.S. Federal Reserve System. The act was passed in December of 1912, and is arguably the high water mark of the Progressive era. The panic was also associated with a change in the voting behavior of the American electorate, away from the Republicans who had dominated the post-Civil War era and toward the Democrats. Though Howard Taft was elected in 1908, Woodrow Wilson was elected in 1912, and fundamentally the Democratic Party dominated the first seven decades of the 20th century.

What reforms are we likely to see in the coming months?
I think we’ll see some very pointed hearings in Congress, getting the facts, finding out what’s broken down, what’s happened. In the period from 1908 to 1913 there were a series of Congressional hearings that explored whether there was a money trust on Wall Street, and whether the leaders on Wall Street had triggered the panic out of their own self-interest. We may see the same starting in 2009.

If the next few years mirror past crises, we should not be surprised to see new legislation that consolidates oversight of the financial industry within one agency or at least a much smaller set of regulators. We are likely to see legislation requiring greater transparency and heightened levels of reporting on the status and soundness of financial institutions. We’re almost certain to see limits on CEO pay and benefits for corporate leaders. We may even go so far as to see a new Bretton Woods type of meeting that would the restructure multilateral institutions, such as the World Bank and the International Monetary Fund, which were founded in 1944 and have since waned somewhat in their capacity to manage global crises.

How long will it take for investors to get their confidence back this time?
The actual panic will end with a comprehensive restoration of liquidity and lender confidence. Confidence could return in a matter of weeks. The Panic of 1907 ended in the first week of January of 1908. That was a period of about 90 days. But the recession that the panic triggered continued to worsen until June of 1908 and it wasn’t until early 1910 that the economy recovered to a level of the activity it enjoyed before the onset.

Panics can be short lived but devastating in their collateral damage on the economy. What we don’t know this very day is which companies are laying off workers or delaying or canceling investments, or which consumers are not planning to build houses or buy cars or even have children because of these difficulties. It is the impact on the "real" economy that we should fear. I believe the government and the major institutions ultimately will prevail. But it’s the collateral damage that could take a year or 18 months or 24 months to recover.

Did you anticipate the modern crisis when writing the book?
We had no premonition that there would be a panic this year but we could say with confidence that there would be a crisis someday, because crises are commonplace in market economies.

We should manage our affairs as individuals and corporations and governments to anticipate these episodes of instability.

Source: Smithsonian Media

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