Monthly Archives: May 2010

trickling down the gilded gutters of wall street

Needless to say, there is a lot angst regarding Wall Street’s mis/management of the economy. And while the recent populist surge is puzzling to many in the finance industry, it is clear that Wall Street’s denizens are ready to fight back.

Joshua M. Brown, aka The Reformed Broker, posted an email that reportedly made its way around Wall Street last week, calling the communiqué a “hideous little piece of class warfare,” and stating that “it’s Us-Vs-Them theme is sickening.”

Here are some of the highlights:

“The government and average Joes are looking for a scapegoat …

“I didn’t hear America complaining when the market was roaring to 14,000 and everyone’s 401k doubled every 3 years. Just like gambling, it’s not a problem until you lose …

“Go ahead and continue to take us down, but you’re only going to hurt yourselves. What’s going to happen when we can’t find jobs on the Street anymore? Guess what: we’re going to take yours …

“We’re going to stop buying the new 80k car, we aren’t going to leave the 35 percent tip at our business dinners anymore. No more free rides on our backs. We’re going to landscape our own backyards, wash our cars with a garden hose in our driveways. Our money was your money. You spent it. When our money dries up, so does yours.”

Oh, where to begin?  Continue reading

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Filed under Accountable Wealth, American Dream, Economic Justice, Economic Opportunity

guest post for resource generation blog

A bit ago I attended a Resource Generation gathering in Boston. In attendance were several leaders of the accountable wealth economic justice movement. It was a great opportunity to reflect on all that has already been done in this ever-increasing area of activism, and to imagine what else could be accomplished in the months and years to come.

“In the Shadow of Luminaries” is the guest post I wrote for the Resource Generation Blog on the events of the evening.

IN THE SHADOW OF LUMINARIES

“Hi Pete. I’m Tracy.”

I nearly choke on my absolutely outstanding lemonade as I, in turn, read the nametag of the unassuming party guest in front of me: Tracy Hewat. Tracy Hewat!? The Tracy Hewat?! Founding member of Resource Generation?!

It can be odd, after years spent knowing about someone who has so positively affected your life, to finally meet that person. Like Tracy Hewat. She did not fly in through the doors from the Jamaicaway, super hero cape floating in the breeze. She did not levitate above the floor, body pretzeled in an otherworldly yogi position. She didn’t even get a sports-arena-style welcome, complete with dimmed lights, pumping techno music, and an overly-energetic announcer (“Ladies and gentlemen … put your hands together for … Tracy! … Hew-at!!!!!”) And yet, nonetheless, she somehow managed to accomplish the extraordinary, unprecedented feat of organizing young people of wealth to use their privilege for social change. Some things, I guess, are too big to fit on a Jumbotron.

Read more …

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Filed under Accountable Wealth, Economic Justice, Philanthropy, Social Change