Posts Tagged ‘occupy’
Friday, November 11th, 2011
WBI recently ran an Instant Poll (n=230) asking if respondents “support the Occupy movement that is expressing outrage over economic inequity?” 74% said Yes. We broke support and disagreement into sub-categories. See the results below.
Wednesday, November 2nd, 2011
We’re all happy about the banks backing down from their new fees for customers, right? Bank of America decided to not charge customers the $5 fee to use their debit cards in places other than the bank. Big deal, now you have access to YOUR money. The change in the cold, cold corporate heart at B of A is considered a consumer win. But at what price?
While reversing the $5 fee made mainstream headlines, B of A, with approval and encouragement from the Federal Reserve (that exists by and for banks, not the U.S. government), moved $53 TRILLION of derivative contracts from the gambling reckless risk-taking side of the behemoth corporation (the bank holding company, investment house) to the retail consumer side Bank where funds are insured by the FDIC. That means that the massive losses by Merrill Lynch and the junk derivatives that had a Baa1 rating (the third lowest investment Moody grade) become overnight A2 rated because now the American taxpayers will cover the risk of these gambles failing. That’s you and me, the 99%-ers.
Friday, October 28th, 2011
Our Reluctance to Help the Less Fortunate Than Ourselves
Two authors of an academic paper wrote an article for non-scientists in Scientific American called the Last Place Aversion Paradox: The surprising psychology of the Occupy Wall Street protests. The authors note that since the recession began in 2008, public support for economic redistribution (raising the minimum wage) has fallen.
I describe the paradox in this Podcast.