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Occupying Democracy: Spitzer, Wilde on Confronting Inequality

Tuesday, November 01, 2011

In a special event at the Greene Space, Brian Lehrer hosted former New York Governor Eliot Spitzer, Crain's business journalist Greg David, President and CEO of the Partnership for New York City Kathryn Wylde, and Occupy Wall Street organizer Jesse LaGreca for a dialogue (not diatribe) about the direction of the Occupy protests and the country at large.

The discussion, held in front a live audience, often turned contentious between Spitzer and Wylde, as well as LaGreca and David, who disagreed about root causes of the financial crisis, the nature of Occupy as compared with the Tea Party, and what were the long-term solutions to our economic woes.

"The idea that if we cut wages to the bone, cut spending to the bone, if we just don't invest anything else and just trust these 'job creators' to do the jobs for us, it just hasn't happened," LaGreca said. "It's not going to happen, and we really need to shift away from that paradigm."

LaGreca's bottom line was that trickle-down economics, as he saw it, hadn't served the country well for the past 25 years. Concessions made to "job creators" in the form of bailouts, deregulation, and lower taxes have not done much to create jobs.

Occupy Wall Street sees corporate greed, but Greg David is hesitant to call it that.

"The purpose of a corporation is to make a lot of money," David said, "and by making a lot of money, by maximizing its profits, many good things happen in the economy."

Eliot Spitzer agreed that the purpose of a corporation is profit, but pointed out that government policy over the past few decades, which has been heavily influenced by business interests, often favors the profit margins of those interests above all else. "When we also let corporations then dictate the rules of society by which they operate, then crisis occurs," Spitzer said.

Kathryn Wylde noticed a tension between the positive historic impact Wall Street has had on the national economy—as well as the tax revenue governments enjoy—and the course correction sought by protesters like LaGreca. 

"Wall Street has been the goose that laid the golden egg, not just for New York, but for the country," Wylde said. "There's a threat that if we do too much, we increase the unemployment problem in the country, we increase the wealth disparity, because people won't get the beneifts of support services paid for by these profits."

Wylde wasn't sure how you punish Wall Street for financial crises without shaking up the American economy for the worse. But there was one area of regulation that should Wylde said should be tapped—if anyone could figure out how to make it happen.

"Clearly the biggest failure in financial regulation was the failure to deal with outrageous compensation," Wylde said. "It's a real failing and I think it's because nobody in this country knows how to do it."

For his part, former Governor Eliot Spitzer said he would raise taxes on the highest earners if he were still in office, but everyone on the panel agreed you have to do more than just raise taxes.

"You do tax the wealthy," Spitzer said, "you do try to lift the bottom, you do invest in education, you do invest in infrastructure...It requires capital. The problem is, the same [business] interests, they lobby vociferously against the very expenditures that would make this possible."

Spitzer lumped David and Wylde into this lobbying group of corporate "interests" that block spending on infrastructure. Wylde vehemently denied the accusation.

"You love to stereotype," Wylde said.

"I'm not stereotyping, I'm talking fact," Spitzer retorted. "F-A-C-T, fact."

What does Occupy Wall Street say? What's their list of demands? Higher taxes, more spending, debt forgiveness—we hear a lot of ideas from protesters that they don't necessarily all agree upon, but what's one that they can all rally around?

LaGreca kept coming back to the Citizens United Supreme Court decision.

"One of the things I did not see in the Constitution was corporate personhood," LaGreca said. "I saw welfare, I saw taxation, I saw tariffs. I didn't see corporate personhood anywhere."

In an ironic turn, LaGreca said the Court's decision, which treats money as speech, was inconsistent with the way city officials and police have tried to remove protesters from Zuccotti Park. "I can buy a tent with money, so how come my tent doesn't count as speech?"

Brian Lehrer asked LaGreca straight up if Occupy Wall Street, as their number one demand, could get behind a constitutional amendment repealing the Citizens United ruling. LeGreca said it wasn't for him to choose a primary directive for the movement, but that it was definitely something they could all agree on.

Watch the full video of the morning's event below.

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Comments [135]

Marie from Oneida

After supporting Mr. Spitzer, I remain dismayed at his core duplicity values. As Attorney General, he led opposition to the same social crime, prostitution, that he later was shown to have personally supported. Whie sexual misconduct gets many appalled (and I do value marriage vows personally), Mr. Spitzer's intelligent and productive speech cannot outweigh his lack of integrity towards the people. In some, it would be classed as stupid, but I regard this as his serious character flaw, not fit for elected office.

Nov. 28 2011 06:09 AM
Alexander Smith

It appears to me that former governor Spitzer is making a real come back from his fall from grace. I hope that he will again take a leadership role in the "occupiers" reform movement against Wall Street tycoons and their cronie bank enablers.

Nov. 03 2011 12:51 PM
david ores from Lower East Side

Everyone petition NPR and WNYC to call it a "Financial Crime" and stop using the inaccurate and FALSE phrase... "Financial Crisis". It was and is a CRIME FINANCIAL CRIME. People have been prosecuted and found guilty and fined millions in court. They commited FRAUD! They STOLE all the money with forethought and intent. Crime!

If four men rob a bank at gun point for 2 million in cash... is that a financial crisis? No it is not. It is a financial crime. Corporation sold these fraudulent securites as triple AAA (lying) AND shorted their OWN position at the same time. They bet against themselves KNOWING they were selling GARBAGE as GOLD! That was and is a crime! All of it was and still is a crime!

A huricane is a crisis. Or an earthquake. Those are a "crisis". Flat out fraud and stealing and is a CRIME. NOT a crisis.

All good people of America. Please start calling it what it is! A Financial Crime! Not the blameless, soft ball financial crisis as if it were an act of God and no human being is repsonsible. They made BILLIONS!! Many BILLIONS of dollars and then the government GAVE THEM over a TRILLION dollars for their effort. WTF.

Stop insulting all of regualr working people America. Don't call it a crisis.

Please forward this to ALL media outlets, ALL your friends and people who are Occupying anything. We need to make the MEDIA and the politicians start calling it what it was and still is..... a FINANCIAL CRIME!

dr dave / NYC / NOV 2011

Nov. 02 2011 02:41 PM
ph

Why does Greg David remind me of the human version of Mr Burns from the Simpsons?

Nov. 02 2011 02:24 PM
Amy from Manhattan

The real problem w/"trickle-down" economics is not only that the wealth doesn't trickle down but that working- & middle-class people need & deserve more than a trickle!

Nov. 02 2011 12:30 AM
Tom Dowd

Mr. Spitzer was a wonderful guest and hopefully he can come back to public office. A man who knows what he speaks about.

Nov. 01 2011 10:26 PM
V ic from .

A great show...
But just another "Clown Show"
Keep talking...( )

& don't buy this patronizing, arschloch, journalist's book.

Take a good first step >
Dismantle the Federal Reserve.
Why do we need to live in DEBT ?

Nov. 01 2011 09:04 PM
Vic from .


The Movement, OCCUPY WALL STREET (God Save Them), is a sad & desperate (wake state!) reaction to our deLuSiOnAl American DReAm.

“Better be confused than depressed”

The Truth Is…The American Capitalist System has always been based on inequality, & [[DEBT]].
This present day, “Flash” & “Party”, Controversial ZOOM, is but a precursor to another phase of, “GLITTER & DOOM”.

You Stand UP Now ! & PROTEST.-_-._-._-
“Down With The Federal Reserve” !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
& nothing is resolved……………………………………………………………………………………………
Your children will suffer later.
That’s the way the game is played.

Nov. 01 2011 08:48 PM

Ah... ol' Kathryn S. Wylde... can you trust much farther than you can throw her???

http://www.ritholtz.com/blog/2011/08/call-for-resignation-kathryn-s-wylde/

http://www.nytimes.com/2011/08/22/business/schneiderman-is-said-to-face-pressure-to-back-bank-deal.html

Nov. 01 2011 07:14 PM

Hopefully Elliot Spitzer will be able to resurrect his political career -- there are 2nd acts and everyone should be forgiven.

Nov. 01 2011 05:40 PM

This was such an enlightening discussion -- people should listen to it again without the heat of the moment. It exposed the intellectually bankrupt positions of those who defend Wall Street and the economic status quo. Also their revisionist history of how we got here over the last 30 years. And how they have no new ideas or ways of thinking for how to move forward. It's just more of the same and somehow the result will be different. Isn't that the definition of insanity?

Nov. 01 2011 05:39 PM

As a person living in Greenwich Village, here is a single profound example of the forces that foment cynicism: NYU 2031 plan.

The idea that our public officials would consider letting NYU have control of public land and change zoning to give them control of our light and air as they build structures completely out of scale to our neighborhood is what keeps people home from the polls. Why vote when your most basic needs are ignored by those who would be your representatives?

Nov. 01 2011 11:59 AM
The Truth from Becky

Should be mandatory for all tax paying Americans. Commericals for the voting dates for each City, State, County should run as often as the geico commercials!!!

Nov. 01 2011 11:57 AM
Mark from NJ

Did you know about it???

Bank of America forecloses on a home, send people to the street and then send a bulldozer to erase the home.

This is what current laws do to people, why people would vote to support system like this?

Why people would vote for the congress of the greed that enact laws favorable to the greedy?

Nov. 01 2011 11:56 AM
Leanne from Manhattan

What is our vote worth, when over and over again polls demonstrate that policies that Americans, democrat and republican alike, support particular polices or legislative initiatives and elected representatives persist in voting them down and ignoring our will?

A vote doesn't seem to be worth anything much anymore - certainly not enough to support healthy democracy.

Nov. 01 2011 11:53 AM
Bill from Mamaroneck

Armand, I thought you & I were on the same page through your 1st 5 paragraphs, but you lost me by starting in about the Fed. If anything this is an arm of the hydra, not the body.

The body, "the real problem orchestrating all other problems," is that our corporations are not owned and managed democratically by their employees. All other decisions and structures flow from that fundamental injustice. Change that and you change the nature of the decisions and structures.

Nov. 01 2011 11:45 AM
Carla from Chelsea

In Cuba, where they have a very high voter participation rate, the children in each neighborhood get out the vote. They man the ballot box and go out and bring in the voters. Perhaps if we involved children in elections we would get higher turn outs in the future.

Nov. 01 2011 11:45 AM
Nico from Crown Heights

@Carol Teitelbaum, station44025, jenliu3 and anyone else questioning Greg David's objectivity

Carol Teitelbaum, I've been feeling the same way for some time. And, as you can see from the thread, David's conflicts of interest are even worse than you think -- in addition to being employed by Crain's Business, he's also employed by the City University of New York. He runs the business journalism program there (and we wonder why the media never noticed the housing bubble...).

Like station44025 suggests, it's worth examining WNYC's policy more closely, especially after the firing of the freelancer at The Takeaway. Wasn't she fired because she was expressing political views in public? Doesn't David do that all the time?

Nov. 01 2011 11:42 AM
Mark from NJ

Republican Party and Democratic Party are two side of the same coin. They both are party of the supper rich. 99% of Americans have no party of their own, hence no party to vote for.

There is a need for party that will represent 99% percent of Americans. Then 99% will go to vote.

Why 30,000 earners would vote for millionaires and wall street speculators.

You should not ask question why only 30% vote.
The questions should how come that 30% vote and why they do vote, are the 30% so rich?

Nov. 01 2011 11:39 AM
Fuva from Harlemworld

John A -- Well thanks so much. And feel free. Whatever it takes to move discourse forward.

Nov. 01 2011 11:32 AM
Kevin Burke from Jersey City, NJ

If you want to motivate and stir the imagination of voters change the name of Election Day to Firing Day.

Nov. 01 2011 11:32 AM
Carol Markel from Lower East Side, NYC

You are all being so politically correct. When I was in high school some 50 years ago, we never had a democracy course. We had history and social studies. We became involved in politics because we cared and it was exciting. The kids that you see walking around with their pants down and their underwear sticking out only know enough to get to the local MacDonald's. It's the dumbing down of our society, that's what!

Nov. 01 2011 11:31 AM
Dan from Manhattan

We have a lot of percieved voter fraud in Hoboken (for instance, paying 'campaign workers' for $40 a person and then all of them submitting absentee ballots, a known tool of voter fraud). This leaves a very bad taste in the honest, responsible voters and leaves them feeling powerless and frustrated.

Until we eliminate election fraud at ALL levels, voters will feel that their vote doesn't make a difference.

Nov. 01 2011 11:30 AM
Chris from Westchester

The League of Women Voters (www.lwv.org) puts out a great voting guide.

Nov. 01 2011 11:29 AM
Vern from Harlem

These twitters are twits.

Electioneering was ever thus-- complex, disingenuous, duplicitous, mendacious and empowering.

Bring back high school civics!

Nov. 01 2011 11:28 AM
Howard from The Bronx

The goal of a business is to invent, something, create something, produce and sell something useful. It is not just to make money. Corporations have been distorted by quarterly earnings for investors. Corporations that are multinational have no loyalty to anyone except those at the top and investors who are looking for 90 day earnings. Shifting retirement money to 401(k)s has made money managers, who are looking for bonuses, the guiding force for trillions of dollars.

Nov. 01 2011 11:27 AM
Armand Green-Wade from New Jersey

A many headed hydra was exactly correct, however you cannot kill a hydra by cutting off any of it's heads, you must attack it at it's body.

This is where I'm finding much dodging and avoidance of the real problem orchestrating all other problems. This is where doing a little historical research comes in very handy.

Wall St., and Corporate Greed, seem to be the main focus, but at what point to we begin to look at who OWNS, or has majority control of these institutions, and with whom else do they have cozy relationships?

The extremely wealthy Leaders of finance, and Corporate interest seem to have much ease with switching in and out of Government as of late. Funny how they can do this with little resistance. Who pays attention to this? they also seem to operate on their own plane of existence.

"Give me control of a nations money supply, and I care not who makes it’s laws."
Mater Amschel Rothschild, founder of the Rothschild banking dynasty.

I wonder why although the Federal Reserve comes into the argument here and there, nobody seems to bring up the point that the Current Federal Reserve system in the United States, is the 3rd attempt to set up central banking in our country. It was tried twice before under different naming and found to be a choker on economy, rather than a help. Also, it is not an actual part of our government. it is not FEDERAL at all, although it gets it's power from it's association with the Government.

Our Treasury has the ability to print money "Interest Free" on it's own. That's how the United States flourished without the instillation of a foreign owned Central Banking entity. Currently we pay interest on every dollar printed by the Federal Reserve, and that interest is paid by the entity that was founded at the same time as the Federal Reserve - Federal Income Tax!

Who has ultimate control of the Federal Reserve, and what else do they have control over? IMF possibly? World bank maybe? Why is there such a push for Globalization Right Now? Wasn't a crisis used as the excuse to establish the Federal Reserve in the early 1900's? What banking interests worked together to make that a reality? What interest could have worked together to make this current crisis a reality, and thus used as an excuse to support the idea of the establishment of one central world bank?

We need to start asking these questions if we wish to come to the core of this corruption..

Nov. 01 2011 11:26 AM
John A.

Fuva from Harlemworld,
'One thing that does "trickle down" {in our economic system}.. is the depravity and hedonism.'
-
I would like to use your quote(ed), Fuva, in the future if it's OK. That is brilliant and deserves to be a "viral meme".

Nov. 01 2011 11:23 AM

Does it come as any surprise that both Kathryn Wylde and Timothy Geithner have a history at The New York Fed???

Nov. 01 2011 11:23 AM
Armand Green-Wade from New Jersey

A many headed hydra was exactly correct, however you cannot kill a hydra by cutting off any of it's heads, you must attack it at it's body.

This is where I'm finding much dodging and avoidance of the real problem orchestrating all other problems. This is where doing a little historical research comes in very handy.

Wall St., and Corporate Greed, seem to be the main focus, but at what point to we begin to look at who OWNS, or has majority control of these institutions, and with whom else do they have cozy relationships?

The extremely wealthy Leaders of finance, and Corporate interest seem to have much ease with switching in and out of Government as of late. Funny how they can do this with little resistance. Who pays attention to this? they also seem to operate on their own plane of existence.

"Give me control of a nations money supply, and I care not who makes it’s laws."
Mater Amschel Rothschild, founder of the Rothschild banking dynasty.

I wonder why although the Federal Reserve comes into the argument here and there, nobody seems to bring up the point that the Current Federal Reserve system in the United States, is the 3rd attempt to set up central banking in our country. It was tried twice before under different naming and found to be a choker on economy, rather than a help. Also, it is not an actual part of our government. it is not FEDERAL at all, although it gets it's power from it's association with the Government.

Our Treasury has the ability to print money "Interest Free" on it's own. That's how the United States flourished without the instillation of a foreign owned Central Banking entity. Currently we pay interest on every dollar printed by the Federal Reserve, and that interest is paid by the entity that was founded at the same time as the Federal Reserve - Federal Income Tax!

Who has ultimate control of the Federal Reserve, and what else do they have control over? IMF possibly? World bank maybe? Why is there such a push for Globalization Right Now? Wasn't a crisis used as the excuse to establish the Federal Reserve in the early 1900's? What banking interests worked together to make that a reality? What interest could have worked together to make this current crisis a reality, and thus used as an excuse to support the idea of the establishment of one central world bank?

We need to start asking these questions if we wish to come to the core of this corruption..

Nov. 01 2011 11:23 AM
Luke

Gov. Spitzer Rocks!

Nov. 01 2011 11:21 AM
liza

Citizens United is the Dred Scott of our time.

Nov. 01 2011 11:19 AM
tony from Richmond,VA

Why don't we address one of the core issues,in my opinion that,is when we are allowed to vote, a workday ,that penalizes & diminishes the voter turnout. Why not a national election holiday to enable all to vote without economic penalties to the working people in this country . I believe the system is stacked & rigged to control the vote amount .

Nov. 01 2011 11:18 AM

In a CLEAR plutocracy who/what are you really voting for???

Nov. 01 2011 11:17 AM
John McG from Staten Island

The statistic that Wall St comprises a third of the NYC economy and a quarter of the tax receipts blew by, without any one commenting. If a sector of the economy (especially the highest paid sector) comprises a third of the economy, how are they paying less than a third of the taxes? Answer, by manipulating the political system. For example hedge fund managers pay 0% in taxes on a majority of their income because of loopholes. Also all of the big banks get hundred of millions of dollars in tax breaks for job creation, even while they repeatedly cut jobs.

Nov. 01 2011 11:16 AM

@jenliu3

Which one??

Nov. 01 2011 11:16 AM
Diane Reynolds from Queens

This panel show was excellent and very needed! Thanks so much for hosting this talk. Also, Eliot Spitzer is awesome -- so glad he's back in the conversation.

Nov. 01 2011 11:15 AM
Xtina

What's the point of voting if the politicians are bought off by rich lobbyists.

Nov. 01 2011 11:15 AM

Ready to join the Greg David Anti-Fan Club.

Nov. 01 2011 11:13 AM
amalgam from NYC by day, NJ by night

Vigorous discussion, if not always informative. Let's hope we will have Elizabeth Warren in Senate - someone who has spent her CAREER working on the inequality of American socio-economic issues - to expertly navigate the rhetoric thrown her way by people like Greg David, who issued only that in maintaining the unequal status quo.

Nov. 01 2011 11:13 AM
muriel from NYC

Two things would radically enable voters: We should be able to vote anywhere; at home, our bank, the mall, at work by online secure login. This would prevent the consistent efforts of some to disenfranchise certain groups like students, or absentee voters and various partisan pockets of voters. Second voting day should be a national holiday so workers can get there or it should be scheduled over the entire weekend so that everyone can find time to vote.

Nov. 01 2011 11:13 AM

‎"Fascism should more properly be called corporatism because it is the merger of state and corporate power." -- Benito Mussolini

Nov. 01 2011 11:11 AM
Michael Stellman from NYC

I don't agree with big business positions, but Kathryn Wylde sounded the most reasonable during this debate. I was surprised. She endorsed a progressive income tax structure and talked about other solutions. I liked Jesse from OWS, too. But Greg David and Eliott Spitzer (who was just plain nasty) both sounded like cranks, repeating the old dogma that clearly isn't working.No wonder neither of them have serious jobs in media any longer.

Nov. 01 2011 11:11 AM
Nico from Crown Heights

@station44025, I agree, feudalism seems to be making a comeback.

On Greg David's claim that people don't really care about the millionaire's tax, do you think he really believes this? Initially, I thought he was lying, but maybe he's as clueless (and shameless) as Gov Cuomo? The logical and ethical contortions here are stunning: "Cuomo Compares Millionaire Tax Opposition To Father’s Death Penalty Stance"

http://www.capitaltonight.com/2011/10/cuomo-compares-millionaire-tax-opposition-to-fathers-death-penalty-stance/

Nov. 01 2011 11:10 AM
North Lawn from North Lawn

Brian says this is a dialog, not a diatribe, and yet every time Mr. Spitzer opens his mouth, I hear a lawyer's diatribe. Anyone else notice this?

Nov. 01 2011 11:08 AM
station44025 from Park Slope

So, WNYC fires a freelance employee for being photographed at an Occupy demonstration, but Greg David is their go-to guy for financial reporting? He was just attacking the character of Jesse, calling him an "eletist" and standing up for the Tea Party. What's the policy, WNYC?

Nov. 01 2011 11:06 AM

Greg David brings into question the integrity of CUNY. Not on the basis of his opinion positions but rather his capacity to defend and explain them...

Pitiful.

Nov. 01 2011 11:02 AM
sanych

Spitzer blows my socks off every time....

As far as the show is concerned, until the (endless) dialog continues nothing will change.

Nov. 01 2011 11:00 AM
Bill from Mamaroneck

The current Stalinist model of corporate governance is a product of what Marjorie Kelly calls "The Divine Right of Capital." It has no more moral legitimacy than the "Divine Right of the Anglo-Saxon Race" that justified slavery, or the "Divine Right of Kings" that justified monarchy.

Nov. 01 2011 11:00 AM
jgarbuz from Queens

Only male white property owners were allowed to vote until the "Jacksonian democracy" in the 1820s.

Nov. 01 2011 10:59 AM
JMS in BKLYN from Brooklyn

The problem isn't only that the rich aren't taxed enough, it's that they have disproportionate political power as a result of their wealth: they are buying the processes of government that result in policy shifts that are to their advantage. Corporate personhood tilts the scales even more toward inequality.

Nov. 01 2011 10:58 AM
Palisades from Westchester County

How about shifting the conversation to WHY we pay taxes and how much we get from them. We've allowed the conversation to become blameful and angry and divisive instead of seeing the value in paying taxes and the value of elevating as many people as possible. Let's celebrate the possibilities and get back to a mentality of what's for the greater good. Let's look at people who used the welfare system and then got out of it - I know many people who were so grateful to have it when they needed it, and are now self -sufficient and active citizens.

Nov. 01 2011 10:58 AM
RJ from Prospect Hts

Instead of "taxes" the poor and working classes pay "fees": higher subway costs, CUNY costs, parking taxes, fees, fees, fees ... We're called customers. Medicaid recipients pay increased Rx costs at the public hospitals.

These are all taxes, in addition to the sales taxes Eliot Spitzer listed.

Nov. 01 2011 10:58 AM
will yackulic

CAMPAIGN FINANCE REFORM NOW. Campaign finance reform will change the dialogue in this country.

Nov. 01 2011 10:57 AM
skn from Brooklyn, NY

Thank goodness someone brought up the ridiculousness of saying that 47% of people don't pay taxes.

Nov. 01 2011 10:57 AM
Ron from NJ

Why isn't anyone talking about the decline of the unions. This is what has historically raised the wages of the workers. How did manufacturing jobs become a way into the middle class? Unionizing! We should be working to unionize the workers that can't be shipped over seas....the jobs that need someone right here in the US. The corporations are not going to give up money out of the goodness of their heart.

Nov. 01 2011 10:56 AM
Zach from UWS

The fact that Greg David is pulling out the same old stupid 47%-53% faux-"statistic" should immediately disqualify him from writing for any respectable publication. What about sales taxes? What about property taxes? What about payroll taxes? Talk about class warfare. Greg David is such a shill for Wall Street. He needs to go.

Nov. 01 2011 10:56 AM
sandore from Manhattan

Could the phony debaters stop smiling please, starting with Brian.

Nov. 01 2011 10:55 AM
Chuck from Staten Isalnd

Brian

I would like to pose a question.

The GOP has called any correction of income and/or tax inequities in the US as "class warfare", isn't it the other way around?

The ACTUAK class warfare is being waged on the 99% by the GOP and the big corporate interests and not by those of us in the bottom 99%!

Nov. 01 2011 10:55 AM
station44025@gmail.com from Park Slope

OK, so Katherine just said we need Wall Street to take care of us through the taxes millionaires pay, but that the "millionaires tax" wont's solve any problems. The circular logic of these people is dizzying.

Nov. 01 2011 10:55 AM
Michael D. D. White from Brooklyn Heights

Re my prior comment about the 3 out of 4 ratio of the panel, here from Noticing New York:

For more summing up Mr. Spitzer’s lack of integrity regarding Atlantic Yards see:
Tuesday, November 16, 2010
Client 9 (Spitzer): Divided by 3, No 2 Ways About It
http://noticingnewyork.blogspot.com/2010/11/client-9-spitzer-divided-by-3-no-2-ways.html

For more about how Ms. Wylde and Columbia’s Lee Bollinger, both supporters of eminent domain abuse to seize whole neighborhoods for single politically connected entities, are both on the board of the New York Fed see:
Wednesday, October 12, 2011
Visiting Occupy Wall Street We Hear “Eliminate the Fed!”: OR Maybe Just Federal Reserve Directors Backing Mega-Monopolies For the Super-Connected?
http://noticingnewyork.blogspot.com/2011/10/visiting-occupy-wall-street-we-hear.html

Here is a critic of some of the bolderdash Greg david was putting out promoting Atlantic Yards:

Tuesday, December 22, 2009
David and the Gargantuan and Growing List of Atlantic Yards Opponents
http://noticingnewyork.blogspot.com/2009/12/david-and-gargantuan-and-growing-list.html

Nov. 01 2011 10:54 AM
Joe from Jersey

Could Kathryn Wylde possibly be any more rude and obnoxious?
Just a reflection of the people she backs- the wealthy who are so accustomed to stepping on all the rest of us underlings.

Nov. 01 2011 10:54 AM

Unfortunately for Kathryn Wylde and Greg David Elliot Spitzer has the only practical and cogent perspective as an actual policy maker and prosecutor who has functioned in the REAL world.

Nov. 01 2011 10:54 AM
Carol Teitelbaum

Greg David's discourse today is typical of Mr. David. I continue to be be disappointed that he is the economic "go-to" individual by the station. His responses seem formulaic, uninspired, judgmental, and tend to reflect a narrow point of view. He appears to serve his employer, Crains Business. Rather than reflect a heartfelt awareness and intelligence about economics and finance coupled with the ability to express this awareness he often whines and criticizes especially when his uber business world view comes into question. His responses to questions are simplistic and trite. This is not objective journalism and it should be stated up front that since he represents his employer he is not a standard bearer for the economic story of NYC.

Nov. 01 2011 10:54 AM
RJ from Prospect Hts

The costs of NY education reflects higher costs to live in NY. The cost of education in other areas reflect lower wages and social benefits for working people within the ed system. Living wages take taxes.

Cuomo has accomplished some things, unlike the last few legislatures, and so if he doesn't agree with one or 2 policies, that doesn't mean they can't still like some of what Cuomo has done.

Nov. 01 2011 10:52 AM
Fuva from Harlemworld

The "national conversation" on income/ wealth inequality would NEVER have happened, but for OWS and other agitators. And Kathryn Wylde and Greg David would have NEVER been participants, speaking against inequality on the record -- as they are now; these "experts" had NOTHING to say about it just weeks ago...Perhaps conscious of the historical moment, these cowards are now trying to be on the right side of history.

Nov. 01 2011 10:52 AM
Yanos from New York City

Governor Spitzer,
Given that many of the wealthiest 1% make a lot of their money outside of taxable annual income, what taxes would you recommend increasing to truly draw revenues from the wealthiest 1%? For example, how can we tax stocks and other assets more effectively?

Nov. 01 2011 10:52 AM
Bill from Mamaroneck

Inequality of wealth is not the primary problem, it's a symptom. It's a symptom of inequality of power in our corporations. It exists because American employees don't own and manage their workplaces democratically.

Nov. 01 2011 10:52 AM
emmet from brooklyn

In my 20 years in Ireland, 12 years in Germany, 5 years in the UK I've been dismayed at the value (or lack of) on American citizens by government. From the lack of health care, draconian welfare and unemployment benefits, crumbling infrastructure, to pathetic options and quality when it comes to internet and mobile phones. It really is staggering when compared to "normal" countries.

Nov. 01 2011 10:51 AM
gene from NYC

Is Greg David supposed to be trying to make a good impression?

It's _good_ that NYC has a bunch of foreign absentee landlords driving up apt. prices for their 4th homes, with no real stake in the city--or even the US??

FAIL.

Nov. 01 2011 10:51 AM
Dave K from Brooklyn, NY

Greg David way of speaking is so utterly patronizing. That must take years of practice.

Nov. 01 2011 10:50 AM
carols from Manhattan

Will hiring chancellors who have no experience in education help our system?

Nov. 01 2011 10:49 AM
Scott from Brooklyn

It suprises me that critics of OWS think they lack specificity in its concerns- when I listen to the the two-faced duplicitous remarks by Wylde and David. They say they care but you can tell they don't want to change anything.Why should OWS be more specific when SO MUCH is wrong?

Thanks OWS for finally starting the conversation.

Nov. 01 2011 10:48 AM
alan trevithick from Mamaorneck

May I say in re education that higher education is now staffed by faulty who, most of them, are job-insecure part-time contingent faculty who are near food stamp poverty. So please do no invoke education as a panacea unless you want also to talk about the reality of academic work place. Dr. Alan Trevithick, adjunct at Fordham, Westchester CC Laguardia CC, and New Faciulty Majority.

Nov. 01 2011 10:48 AM
Howard from The Bronx

The goal of a business is to invent, something, create something, produce and sell something useful. It is not just to make money. Corporations have been distorted by quarterly earnings for investors. Corporations that are multinational have no loyalty to anyone except those at the top and investors who are looking for 90 day earnings. Shifting retirement money to 401(k)s has made money managers, who are looking for bonuses, the guiding force for trillions of dollars.

Nov. 01 2011 10:48 AM
station44025 from Park Slope

@Nico: Yes! Feudalism works! The serfs pay homage to their feudal overlords, handing over the majority of their crops and gratefully accept a tiny ration in return. This has been a normal system throughout history, and it's where we're headed now.

Also:

The guy who keeps talking over and putting words in mouths is Greg David, shill for extreme Randianism.

Nov. 01 2011 10:48 AM
KG from NYC

Occupy wall street has brought the notion of inequality into mainstream discourse. Inequality is on the rise in "developing country" proportions in the United States, and it has been rarely mentioned in mainstream media prior to this movement.

Nov. 01 2011 10:43 AM
Amy from Manhattan

Brian, can you *please* stop Greg David from interrupting Jesse LaGreca? "No, I didn't miscontrue you" is not an argument, & Jesse didn't get a chance to explain what he did mean. That exchange may not have been diatribe, but it wasn't dialogue either.

Nov. 01 2011 10:42 AM
Bill from Mamaroneck

As a commuting participant in #OWS, volunteering at the People's Library, I offer a proposal for a primary agenda item to focus the agnda of #OWS: a call for the abolition of the practice of human rental, and to build a movement for the transformation of all conventional dictatorially structured corporations into employee owned and democratically managed cooperative enterprises across the nation, organized voluntarily and non-violently on a company-by-company, workplace-by- workplace basis. Can I get a response from Jesse to this idea?

Nov. 01 2011 10:42 AM
Ginzberg from Pittsburgh

I agree. This "discussion" isn't very useful. Who is the person who keeps interrupting the other speakers and putting words in their mouths? Is that Spitzer? This isn't cable TV. 'NYC and Brian are way better than that.

Nov. 01 2011 10:40 AM
Rick from Long Beach

I have heard enough. HOW TO I CONTRIBUTE TO THE OCCUPY MOVEMENT.
Rick

Nov. 01 2011 10:38 AM
Micahel D. D. White from Brooklyn Heights

In terms of the “balance” of the panel it should be noted that THREE of the FOUR members (Eliot Spitzer; Greg David, and Kathryn Wylde) have been prominent supporters of a classic case of depriving the 99% for a politically-connected 1%: The Atlantic Yards Forest City Ratner mega-monopoly, which through preferential government intervention, subsidies and eminent domain abuse gives the politically connected Forest City Ratner, altogether a 50+ acre monopoly over much the most precious and dense real estate in Brooklyn.

Nov. 01 2011 10:38 AM
CL from NY

This program is essentially no different from the annoying, superficial tripe we can get on network TV on any given evening. Merely throwing a handful of garrulous, uncritically minded persons together and inviting them to spout their opinions does not constitute an informative, analytical discussion of several very large, thorny subjects. The producers and the host also seem unabashedly ignorant of the dimensions of the topic. The very model of sophomorism.

Nov. 01 2011 10:37 AM
Donovan from Brooklyn

I have two questions.

Why is it so easy for corporations to move money across borders? I realize we live in a "global economy" but shouldn't we have at least some protectionist framework in place? I keep seeing lists of the ways corporations get around paying taxes (double Irish, etc) and it seems absurd to think that these things are out in the open and "legal".

Second, if corporations are "people" why do they not have a lifespan like biological people have? We could base their age on the average lifespan of an American citizen. After they reach the end of their life they would be required to have a will to leave an inheritance to G.E. jr.

Nov. 01 2011 10:36 AM
Nico from Crown Heights

Are you kidding me? Kathryn Wylde is the *public's* rep on the NY Fed?!! Thanks, RJ from Prospect Hts. The takeover of "public" institutions by private interests is something we're barely aware of (think of WNYC). Philanthrocapitalism. Then take Greg David, mouthpiece for Wall St. running the business journalism program at CUNY, the City University of New York!

And I have to admit, I wasn't surprised that it was Brian Lehrer himself who invoked the "New Yorkers and Wall St, We are One" nonsense. They loot the economy and then dangle money at firefighters and teachers, holding what's left of a public sector hostage.

Nov. 01 2011 10:35 AM
cs

OWS is tiresome because while they have gotten the conversation going, they now have nothing to offer.

Nov. 01 2011 10:34 AM
Matthew from Brooklyn

"What do we want to accomplish? I can't explain that because we are a democracy."

Are you kidding me? He just said, we don't have any goals because we are too many people to formulate any goals.

Brilliant.

Nov. 01 2011 10:34 AM
k webster from nyc

Global capitalism is just that- global. So the financial giants are not concerned with the welfare of New York or the US or anyone in the world - their sole preoccupation is profit making. Wealth is NOT created by the financial industry here - it is created by the real work of working people!!!
The insecurity of this system is now utterly evident to most everyone. Even the very wealthy get no respite from their fears - they have to keep making money in a vain effort to try to feel at ease.
But honestly this system is collapsing no matter what is said here. The beauty of OWS is that it is practicing for a new kind of society. And that is their contribution along with shifting the debate back to the theft of wealth from all other "classes".
!

Nov. 01 2011 10:33 AM
MichaelB from Morningside Heights

I always resisted what I deemed as easy cynicism, which I considered intellectually lazy.

But I am 2/3 through Matt Taibbi's "Griftopia" and the situation in this country is even worse than even the predictable cynics have declared.

Want to get really depressed about the state of the US? Read "Griftopia."

The only redeeming note in the book is that as I've always maintained, there are no saints in either camp of either the Democrats or Republicans. They are overwhelmingly lame and almost all in the pocket of big business -- Wall Street, the Insurance industry, and the rest.

Nov. 01 2011 10:31 AM
nadine from nj

I am a long time supporter, and very frustrated at the tone of the conversation that I have heard this morning. The last few minutes of talking is much too much like a raving heads talk show. I had been looking forward to hearing this conversation, but if I keep hearing what I just got before the break, I'll turn it off. What a sad comment on WNYC when the discourse becomes discord.

Nov. 01 2011 10:29 AM
station44025 from Park Slope

No one is falling for Kathryn Wylde's logic. She just said that the US can't be regulated any more than the least regulated foreign market lest we become "less competetive." Then, literally in the same breath, denies that she said there shouldn't be more regulation. The logical conclusion is that we're engaged in a race to the least regulated, most kleptocratic economy possible. That kind of doublespeak is exactly why people are in the streets and they aren't going away.

Nov. 01 2011 10:29 AM
Fuva from Harlemworld

The commitment of Wylde, David, etc. to preserving an unhealthy, unaccountable economic system overlooks the damage it does to the social contract and national morale, which affects productivity. One thing that does "trickle down" and metastasize is the depravity and hedonism.

Nov. 01 2011 10:28 AM
Sharon from LES

The Tea Party is bought and sold by the 1%!!! The are hijacked by the Koch Brothers

Nov. 01 2011 10:28 AM
john from office

What a shame Spizer is a very bright man, he threw away alot.

Nov. 01 2011 10:28 AM
RJ from Prospect Hts

* The competition charges higher taxes for a a bigger, loved social safety net

The "competition" is between multinational corporations that want a cheaper place to make greater profits via its ownership of government through campaign donations and its lesser ability in other countries.

Nov. 01 2011 10:27 AM
Liza

I think the high compensation issue is a red herring. The focus should be on the fact that losses have been socialized but gains have remained private in the whole bail out, and that is fundamentally unjust. We should have left the losses with the loss creators. Spitzer is correct in highlighting that raising the argument of the money will move overseas if we over-regulate is false. Investors like institutional pension funds and other institutional investors will not follow to what are perceived as unstable, risky markets. My biggest issue is the disproportionate influence the wealthiest .01% exert on our elected officials. Elected officials should represent all citizens not just the ones who can give them 7 figure jobs when they retire with pensions and health care for life. One fix should be closing the carried interest loop hole - it is a mistake in the tax code.

Nov. 01 2011 10:26 AM
jgarbuz from Queens

Moneylenders, a.k.a, the "financial industry," will go and lend wherever in the world they can make the most profits! And that world expanded very rapidly when communism and socialism fell in the USSR, China, India and elsewhere! No country in the world, including the US, can any longer control the game. The game is wide open to all comers, and the best and most efficient players will pull ahead, and others will lag behind.

Nov. 01 2011 10:26 AM
amalgam from NYC by day, NJ by night

@ Marc from Brooklyn -

"It's real funny that __Franklin D. Roosevelt__ aligned himself" with the poor and unemployed. "His Daddy" was part of one of the oldest, wealthiest old New York families, almost royalty.

"FDR could talk all that lefty noise 'til the cows come home, but unless FDR put poor people up for free at his fancy properties, he [was] completely full of . . . . trash."

That goes for all you limousine liberals! (my tongue in cheek).

Nov. 01 2011 10:26 AM
Shannon

What about Jennifer Granholm's position on Singapore's regulations actually bringing business to their country? I would like Kathryn Wylde to respond to that.

Nov. 01 2011 10:25 AM
eastvillage from East Villange, NYC

It seems the all speakers agree that the heart of the problem facing America and the world is UNREGULATED GLOBAL CAPITALISM under which no corporation has loyalty to the general welfare of the citizens of the host country. True?

Nov. 01 2011 10:24 AM
d.

The panelists are not addressing the core issue: how can you regulate people from doing stupid things? Sub prime was clearly something destined to fail and yet people continued to promote them. Either they were truly ignorant and should not be in the industry, weren't thinking, or malicious.

Nov. 01 2011 10:23 AM

Kathryn Wylde -

You were spot-on when you indicated you were not the clever one!!

The only intelligent observation you've made!!

Nov. 01 2011 10:23 AM
Paul Hunchak from Syosset

But to continue the goose metaphor...we are in this mess because the financial industry created the system for them to become the golden goose. Read Kevin Phillips' book about how the financial industry forced the government to make it the force that it is.

Nov. 01 2011 10:22 AM
Al from nyc

how come no one its talking about the fact middle class Americans are running out of pursing power to move the economy!!!!!

Nov. 01 2011 10:21 AM
Amy

No, the purpose of a corporation is to serve a function through which money is earned. While making money is a by-product of that, corporate purposes are not fungible. I create a corporation to serve a purpose: create a product, furnish a service, etc. Obviously a goal is to make money since we all need money to live and for some, indeed, making money is the only purpose, something that has been promoted by business schools, which taught all their students that the ONLY purpose was to maximize shareholder wealth. Now, some are adding back a moral component to that and thank God.

I blame it all on the changes in the tax code brought about by the "tax simplification" of Ronald Reagan, which did away with our more progressive tax structure. When government says it is okay to be selfish, and this was a major institutionalization of that, and we are all selfish, then nothing holds back the increasing concentration of wealth in the few.

Nov. 01 2011 10:21 AM
John A.

This show is Christmastime (sorry, Holiday party day) for anyone who contributed last week.
-
I note that Mr. Spitzer is both a politician And Also a person who was likely brought down (backchannel politics) for trying to regulate Wall Street prior to 2008.

Nov. 01 2011 10:21 AM
Gloria from NYC

WOW!!! I"m loving this!
FINALLY THANK YOU WNYC

Nov. 01 2011 10:21 AM
Nico from Crown Heights

So there it is, from Kathryn Wylde, the manifesto for neoliberal NYC. Creating a lopsided, financialized economy that sucks money from all other sectors, and then holds up Wall Street as the savior of the Welfare State -- because naturally they're the only ones making taxable money in this lopsided economy!

Earlier Wylde seem to try to blame the problem on globalization, conceived as this unstoppable force. But for years she's been the leading cheerleader of the financial globalization of New York City's economy.

Nov. 01 2011 10:20 AM

socialism isnt evil. it strives to lift everyone up. capitalism is social darwinism without an idealogy outside of "profit"

Nov. 01 2011 10:20 AM
ryan from brooklyn

On the one hand: money skews the system to beget more money.

On the other: we demand that our corporations produce profit.

how many of us are willing to give up the ability of our own personal investments to grow?

Nov. 01 2011 10:19 AM
Fuva from Harlemworld

Focusing -- as, for instance, Greg David and jgarbuz do -- on government housing policy to decrease bank/ Wall Street responsibility is a canard that does not stand up to scrutiny. But the majority of Americans, including 99% of OWS, cannot intelligently respond to nonsense spewed by the Greg Davids and Kathryn Wyldes, because we are soooo un/underinformed. What we also NEED is an INFORMATION REVOLUTION.

Nov. 01 2011 10:18 AM

capitalism is a dog chasing it's tail, every now and then the dog catches his tails and bites down. guess what? it hurts. the mouth of the dog is big business and the tail or ass is the average joe. rarely do the top earners be it people or companies feel the pain of capitalism biting its own tail. it's a ponzi scheme and we the people who are the government and the economy are the victims, time and time again.

Nov. 01 2011 10:18 AM
carols from manhattan

What about a company like Verizon, making large profits, laying off people just becaude they can.

Nov. 01 2011 10:17 AM
FireYourBank from New York

The suggestion from Kathryn Wylde that CEO's and business leaders care about preserving American jobs is insulting.

Nov. 01 2011 10:17 AM
Jesse

If you want an excellent, detailed, specific analysis of how the power elite run this country, watch this video of Bill Domhoff from the 1980's. It's a little long, but really compelling (and relevant):

http://www.youtube.com/watch?v=K8F1OoEqbcA&feature=related

Nov. 01 2011 10:17 AM
ktbussy

Wallstreet is the goose that laid the golden egg? How typical, take your egg and sit on it.

Nov. 01 2011 10:16 AM
Lester from LES

I don't understand how any of this is new. "Global Economy" or not we have always and will ALWAYS need government regulation. In the time of American slavery we needed regulation to end it. Child labor the same thing. Corporations and those that own the gold cannot make the rules. It is fundamental.

None of this is new!

Nov. 01 2011 10:16 AM
RJ from Prospect Hts

Can someone mention that Kathryn Wilde is also the *public"s* representative on the Fed Board?

Nov. 01 2011 10:16 AM
John A.

"The purpose of a corporation is to make a product the public needs, and the profit follows." Sorry but I had to redefine Greg's statement -- I won't let it in to my Psyche.
-
Mr. Spitzer's opening statement was so cleverly worded I believe I'll be copying it down and perhaps even memorizing it. How closely held those beliefs are - To Mr. Spitzer, is the very definition of how a voter has to view a Politician.

Nov. 01 2011 10:16 AM

profits and bonus are up
the corps are not going to hire americans if they can profit with cheap chinese labor

Nov. 01 2011 10:15 AM
Nico from Crown Heights

Finally!!! The takedown of WNYC's in-house apologist for the financialization of NYC, Greg David that I've been waiting for since 2008! A PR guy for Wall Street, nothing more

Nov. 01 2011 10:13 AM
Marc from Brooklyn

It's real funny that Elliot Spitzer is aligning himself with the "99%." His daddy is one of New York's biggest real estate magnates. No one profits more than the Spitzer family from low interest rates and easy financing. Elliot can talk that lefty noise 'til the cows come home, but until he starts putting poor people up for free at his fancy properties, he's completely full of . . . . trash.

Nov. 01 2011 10:12 AM
john from office

Brian, why do you have Mr. Spitzer on the show. He is a disgraced politician and a member of the so-called 1% who benefited from his social standing to maintain his law license and social position. Had an average person done the same, they would have been disbarred. Character and fitness are lacking.

Nov. 01 2011 10:12 AM
Fuva from Harlemworld

Hugh, thanks. Generally speaking, the media is compromised. Many of them have great jobs/ salaries/ benefits, and like schmoozing with and offering platforms to folks with more money and benefits, and are out of touch. We need to be skeptical and better informed.

Nov. 01 2011 10:12 AM
Austerity should begin at the Top. from RICO the Banksters

Austerity should begin at the TOP. It is easy for lawmakers, business leaders, tenured academics, and senior government officials to advocate austerity. They will not feel it personally. Neither will any of their well connected families and friends.
That is why it is all the more important to make sure that Austerity begins at the top, so such demands reflect genuine need and not hypocritical serf-bashing by the well off.

Some banks may be too big to fail, but their LEADERS are not.
They should lose their jobs, be banned from finance or any corporate leadership position for at least 10 years, face massive personal fines that impovrish them, and possible jail time. When individual bank leaders recognize that their personal skins are at risk, you will start to see some serious attention to preventing future malfeasance.
When the elite corportate and government leaders start to personally experience poverty, unemployment, inability to provide for their families, the humiliating loss of their social networks and friencds, and face personal austerity, we will begin to see JUSTICE for the millions of innocent hard working Americans and Europeans whose lives they have destroyed for personal gain.

Nov. 01 2011 10:11 AM

Thank you Elliot Spitzer!!!

I'm very sorry you are not my Governor!!

Nov. 01 2011 10:11 AM
jgarbuz from Queens

Look, moneylenders are in the business of lending money to those who can repay. But the government directed many of them to lend money to those who could NOT repay! So they invented "securitization" and "default swaps" and all those gimmicks that were supposed to to protect them, but the whole house of cards collapsed anyway as some of us foresaw. It never made sense to people who can think for themselves.

People are angry, blaming the money lenders, but the intent was to do good, and make everyone a property owner, and give everyone a personal stake in the economy. Alas, it doesn't work that way. There will always be "haves" and "have nots," or as Jesus put it, "The poor will always be with us." Nobody, myself included, wants to be one of them, but it is what it is,

Nov. 01 2011 10:10 AM

Greg David is an idiot!!

Cheerleader for the status quo.

Are you KIDDING!!

Nov. 01 2011 10:09 AM

Contrary to Kathryn Wylde's ignorant and blinkered view of history, the foundation for the Wall Street crimes has been under construction for thirty years. Thirty years of Reagan-Friedman-Greenspan deregulation and outright endorsement of unbridled greed.

The monstrous excess of the American financial industry was perfectly clear over twenty years ago with the Savings & Loan crisis. George Akerlof and David Romer analyzed this in a seminal paper "Looting". We can safely say that Greg David and Kathryn Wylde are utterly ignorant of this work.

Nov. 01 2011 10:07 AM
Q: for Spitzer - RICO the Banks ? from Justice for Robosigning victims


From a legal standpoint, could the government charge the banks or banksters under R..I.C.O. for the fraudulent theft of people's homes under the Robosigning scandal ?

If so, who would have to do so ?

Can private citizens sue under RICO ?

Nov. 01 2011 10:07 AM
Nick Lento from NJ

OWS is a R(E)volutionary eruption of the Zeitgeist. Once again, the "times, they are a-changin"......hope is alive, but there are no certainties....as the forces of the status quo won't simply concede power just because they've been over-reachingly greedy corrupt and utterly malignant.

The established disorder wan't to make the OWS movement into a simple conflict with the police.....they want to brutalize enough people so that a few of them might become so radicalized that there then becomes a pretext to go after "home grown terrorists"........kind of like beating up a dog until it bites you and then shooting it because it's become "vicious and dangerous".......that's how perversely messed up is the status quo. No conscious conspiracy is even required....crap rolls downhill on it's own, the individual molecules simply obey the law of entropic gravity.

OWS, at its best, can be like vegetation breaking through the concrete and reaching up to the sun and flowering into a lovely manifestation of destiny as it spreads it's seed!

One of the manifestations I hope to see OWS become is a renewal of a national ACORN like organization that can/will get very one of he 99% registered to vote, voting....and voting because they are informed, motivated and activated.

Voting is the least we must do....protesting in the street is necessary, but not sufficient. We in America, still have enough of a democracy left that we CAN, literally transform our public and private sectors into becoming centered around common human decency and away from simple greed....so long as we remain motivated and unified by love..practical tough love, there is hope!!!

Nov. 01 2011 10:06 AM
Reality Check from NYC

Hugh is absolutely right... Kathryn Wylde is a high-priced Wall Street shill and Greg David is a professional apologist for the kinds of interests she represents. I love your show Brian, but these two get way too much airtime... are there no other voices worth hearing?

Nov. 01 2011 10:05 AM
Can we R.I.C.O. the Robosigning Banks ? from Question for Spitzer


Legal Question for Spitzer :

Can Any of the DA's charge the robosigning banks or their leaders under R.I.C.O. for a systematic and intentional pattern of fraudulent and perjured theft of people's homes ? (Many people who weren't even in default still had their HOMES wrongly seized).

(One might also argue that many of these banks and their leaders also have a pattern of widespread corrupt influence (although most of it is probably legal thanks to Citizens United)).

ALSO, if NONE of the DA's will charge the banks or the bank leaders under RICO, can anyone else charge them under RICO
(for example Private civil use of RICO) ?

THANKS

Nov. 01 2011 10:03 AM

Kathryn Wylde has been accused of conflicts of interest for taking a public position as a New York Fed director while repeatedly and vocally defends Wall Street, especially Bank of America, against NY Attorney General Eric Schneiderman. Wylde follows in the footsteps of Timothy Geithner, Michael Bloomberg, and other public officials who clearly do more to slave for Wall Street than they do to fulfill their legal obligations to the people they serve. In her role as a Fed director, Wylde is a public servant.

Greg David, meanwhile, routinely does a poor job of trying to feign balance or objectivity while invariably shilling for Wall Street, as does Crain's New York Business generally (a miserable excuse for a business publication).

Nov. 01 2011 09:56 AM
john from office

Brian, why do you have Mr. Spitzer on the show. He is a disgraced politician and a member of the so-called 1% who benefited from his social standing to maintain his law license and social position. Had an average person done the same, they would have been disbarred. Character and fitness are lacking.

Nov. 01 2011 07:35 AM

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