Wall Street

Will unregulated, debt-based financial products destroy the world? Bloomberg reports that the funneling of capital into instruments of so-called “shadow banking” continues to balloon to unimaginably large proportions: The shadow banking industry…

A year after it all began, the Occupy protests returned to the New York Stock Exchange this morning, with more than a hundred arrests notched by the early afternoon. Raw Story reported a few hours ago:

A New York University professor and an artist featured in The Nation magazine this month were among more than 90 people arrested early Monday morning as Occupy Wall Street marked its first anniversary with various demonstrations in New York City. “Just grabbed off sidewalk, along with everyone else,” artist Molly Crabapple said on Twitter shortly after being picked up by police.

Elsewhere, Jacobin magazine founding editor Bhaskar Sunkara reported that NYU Social and Cultural Analysis professor Andrew Ross, was arrested as part of a demonstration in the lobby of the JP Morgan Chase building on Park Avenue. “Cops are never friendly, but these cops aren’t cops,” Sunkara said. “They’re militarized beyond comprehension.”

If the small number of protesters this weekend is anything to go by, Monday’s planned first anniversary action around New York’s financial district won’t cause too many banksters to be afraid to…

Impose Magazine‘s Gretchen Robinette has a very thorough photo treatment of yesterday’s May Day activities in lower and mid-Manhattan. Parks and major thoroughfares such as Broadway north of Union Square were filled…

If you work on Wall Street it’s time to take Bill’s Hicks’ advice for advertising and marketers … because this will never happen. Sheila Bair writes in the Washington Post: Are you…

Don’t you love it when pop culture reflects real life? From the Wall Street Journal:

In addition to the morally ambiguous Catwoman and the enhanced strongman Bane, it appears the new Batman movie will tackle income inequality, according to the below trailer.

In the clip, a whispering Anne Hathaway (Catwoman) can be seen telling Bruce Wayne, Batman’s billionaire alter-ego: “There’s a storm coming, Mr. Wayne… when it hits, you’re all going to wonder how you ever thought you could live so large and leave so little for the rest of us.”…

With a story about prosecuting Wall Street featured on the most mainstream of TV news shows, CBS’s Sixty Minutes, might there finally be enough momentum for some banking executives go to jail?

In this segment, two high-ranking financial whistleblowers say they tried to warn their superiors about defective and even fraudulent mortgages. Reporter Steve Kroft questions why the companies and their executives haven’t been prosecuted.

Confused about what has unfolded since 2008? The sublime absurdity of bank bailouts and what we have(n’t) gotten in return, laid out in adorable animated form:

Radio host Jay Smooth shares some interesting thoughts on the meaning of Occupy Wall Street — that observing the way different media and political figures have reacted is educational in itself:

Occupy Wall Street is every bit as specific as it needs to be, and every bit as non-specific as it needs to be. It’s just specific enough to capture that basic sentiment that so many people share, and just vague enough to let many different people come to it. And as it keeps growing and coalescing, if certain people keep professing not to get it, those are probably the people who weren’t supposed to get it.

I love this whole spectacle of everyone scrambling and scraping for ways to pretend that something serious isn’t happening. It’s not only fun to watch, it provides a valuable service, because it reveals to us all who the ringers are at Wall Street’s three-card monte table.