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« Memo To The Media: It’s Not 'Anti-Capitalist' To Protest An Industry That Was Saved By Trillions Of Taxpayer Dollars | Main | VIDEO - Ron Paul Speaks On The Wall Street Protests »
Sunday
Oct092011

The WSJ's Evan Newmark, A Former Goldman Sachs Executive, Thinks Wall Street Protesters Are Buffoons

Listen to this nonsense.  Newmark, a former Goldman Sachs executive, thinks Wall Street protesters are buffoons.  Surprise, surprise.  We think someone needs to slap the smug grin from Newmark's face.  In the above video, Marketwatch columnist David Weidner says that bankers, not protesters, are the ones who should have been arrested during Wall Street protests.  Newmark chuckles as he disagrees, making no effort to hide his contempt for 'Occupy Wall Street', now in its 22nd day.

This is not our first run-in with the former Goldman Sachs mangaing director, Hank-Paulson loving WSJ editorial writer.

Last year Matt Taibbi called Newmark a 'craven, bumlicking ass-goblin.'

---

Newmark is wrong on several counts in the above clip, the most egregious example being his assertion that Wall Street bears no responsibility for the massive increase in the national debt, in stark opposition to accepted fact as Simon Johnson discusses below.

From Simon Johnson Destroys The Myth Of Jamie Dimon's Bernanke Complaint:

The realized downside risks, as handed to the taxpayer, should be measured not merely as the cost of the Troubled Asset Relief Program (TARP) or Federal Reserve rescue plans, but in terms of the increase in the national debt the financial crisis caused.  According to the Congressional Budget Office, the financial crisis will end up increasing government debt by at least 40 percent of gross domestic product. (I’ve covered the details of this calculation elsewhere; this point is not controversial among fiscal experts.)

So, to turn Dimon’s question around, we know that previously low capital requirements led to social losses (those borne by taxpayers) in the trillions of dollars, as well as millions of jobs and homes lost, while the private gains were in the low billions.

Read the rest HERE...

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Look in comments below for more new stories on the protests

 

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Reader Comments (13)

The Ruinous Fiscal Impact of Big Banks

By SIMON JOHNSON

http://economix.blogs.nytimes.com/2011/02/03/the-ruinous-fiscal-impact-of-big-banks/
Oct 1, 2011 at 9:40 PM | Registered CommenterDailyBail
October 1, 2011 - TAMPA, FL - The Occupy Wall Street movement may have just received an unexpected surprise – United States Army and Marine troops are reportedly on their way to various protest locations to support the movement and to protect the protesters.

Army serviceman Ward Reilly posted the following on Facebook:

“I'm heading up there tonight in my dress blues. So far, 15 of my fellow marine buddies are meeting me there, also in Uniform.
I want to send the following message to Wall St and Congress:

I didn't fight for Wall St. I fought for America. Now it's Congress' turn.

http://1newsjunkie.blogspot.com/
Oct 1, 2011 at 10:20 PM | Registered CommenterDailyBail
Unions Vote Unanimously to Support Occupy Wall Street: Who’s Next?

http://www.deathandtaxesmag.com/147017/unions-vote-unanimously-to-support-occupy-wall-street-whos-next/
Oct 1, 2011 at 10:21 PM | Registered CommenterDailyBail
Oct 1, 2011 at 10:22 PM | Registered CommenterDailyBail
Oct 1, 2011 at 10:23 PM | Registered CommenterDailyBail
http://blog.alexanderhiggins.com/2011/10/01/breaking-police-assaults-mass-arrests-mile-long-crowd-occupywallstreet-protestors-74161/

Breaking – More Police Assaults And Mass Arrests Of Mile Long Crowd Of #OccupyWallStreet Protestors
Oct 1, 2011 at 10:24 PM | Registered CommenterDailyBail
Newmark is scum.
Oct 1, 2011 at 10:24 PM | Unregistered CommenterJay
I wonder if Evan Newmark is less of an asshole when he's not drinking on the job.
Oct 2, 2011 at 12:09 AM | Registered CommenterDr. Pitchfork
"The Occupy Wall Street movement may have just received an unexpected surprise – United States Army and Marine troops are reportedly on their way to various protest locations to support the movement and to protect the protesters."

God bless this soldiers.
Oct 2, 2011 at 2:03 AM | Unregistered CommenterS. Gompers
I meant these soldiers.
Oct 2, 2011 at 2:03 AM | Unregistered CommenterS. Gompers
Wait until the people find out that the CAFR funds stolen from the taxpayers were invested in mortgage backed securities and are now worthless. Google your Comprehensive Annual Financial Report for your area. Communities keep two sets of books, one is BS meant for public consumption, the CAFR is the truth. My small village has stolen $50 million from the taxpayers over the years, the sharks on Wall St convinced them to invest it all on worthless mortgage backed securities just like Greece. WTF!!

Soon, they will have armed protests and when they spray them with gas, the protesters will return the favor, with lead!
Oct 2, 2011 at 11:19 AM | Unregistered CommenterMiguel Grande
My God, how pathetic,....? If the revolutionary forces in the world think they are going to win any battles by sending up cannon-fodder like this gentlemen,...they are wrong,....whomever sits down with this Newmark guy has to know that it isn't going to be a fair interview,....

.....and they have to know based upon Newmarks previous style, that he'll not wait for an answer,...let alone a hesitating, thoughtful comment or response from an overly-polite guest...!

....You could see five-seconds into the "interview" that it was only a platform and excuse for the Newmark dude to unload his personal, biased thoughts.....he completely shaped the interview, and the poor "guest" did nothing to cut him off at his knees,....

....the closest he came was when he was able to start naming the personal names of the corrupt Bank and Investment Firms leadership....

.....very sad,...

...the poor author guy has to be better prepared next time,...and has to develop verbal techniques that cut off the interviewing idiot, and allows for the direct presentation of the protester's POV,....

verbal sparring is a complicated talent,...and if you are not prepared for "interviews" such as this,..it only makes the protesters appear uninformed,...

....the author should have asked Newmark how many of his friends , or even Newmark himself,....they should have asked how many of them got funds from the bailout,...how many of he and his friends took bonuses after going bankrupt and then being bailed out?

What a sham of an interview,....get someone who is prepared next time and toast his over-talking-thieving ass.....

Regards,

RJ O'Guillory
Author-
Webster Groves-The Life of an Insane Family
Oct 2, 2011 at 1:44 PM | Unregistered CommenterRJ O'Guillory
Well said RJ...+1
Oct 3, 2011 at 11:24 AM | Registered CommenterDailyBail

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