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Jim Chanos Suggests New Yorkers Wake Up

Jim Chanos, founder of New York- based hedge fund Kynikos Associates, said New Yorkers don’t appreciate the impact the government bank bailouts have had on other U.S. citizens. “New York is so finance-centric that people here underappreciate the reaction of the rest of the country,” Chanos said today in an interview in New York. “People are angry, they feel the game is rigged, that they didn’t get their fair shake.” Chanos, 53, who was born in Milwaukee, said the “disjointed” nature of the Occupy Wall Street demonstration, which started last month in New York’s financial district and spread to cities such as Washington and Seattle, shouldn’t be underestimated because protests in the sixties started in a similar way. [Bloomberg]

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72 Responses to “Jim Chanos Suggests New Yorkers Wake Up”

  1. anon says:

    More than 3 shakes and you're playing with it.

  2. TOF says:

    People @ #occupywallstreet need to #occupyajob

  3. jcocktosen says:

    Good thing the author dropped "born in Milwaukee", so we know that Jim is a sincere, man of the people rather than just an opportunist who would say anything to help his wallet and/or image.

  4. D123 says:

    He has a point, but the movement is stillborn. DCCC types are co-opting, the message is lost as OWS becomes an Obama 2012 vehicle. They are going to have to shit on a lot of blacks and whites to regain momentum.

  5. Jim Chanos' Shadow says:

    Spoken like a scared 1%-er.

  6. Voice says:

    Methinks the 1%ers are getting a little nervous. They ain't seen nothing yet. Pitchforks are being sharpened

  7. MonsieurBobo says:

    I'm all for a tempering of New York solipsism, but I think it's high time that people recognize that the big bad wall street banks have paid back the bailout money. Also, I'm no tea partier, but the tea party was pretty up in arms about the bailouts. All the Occupy Wall Street apologists coming out of the woodwork now were hardly speaking up on behalf of the tea party back then.

    • Absolute Value says:

      How the fuck do you get negative points in ID?

    • jeff hoffman says:

      You hit and run somebody, the judge gives you 6 months and when you get out we're all supposed to rejoice that you did your time. Better yet, you hit and run somebody, the kid's parent's pay your bail, and when their money comes back and the judge gives you no time they're supposed to be happy and keep their mouths shut. The Teabaggers were pretty much up in arms about the bailouts well after they were handed out, and only after after Obama got elected, since they were speaking out on the part of the Republican Party ; they're not grassroots anything.

    • anon says:

      Why the fuck would the Occupy Wall Street people, whose values/wants/goals/whatever/everything stand in stark contrast to those of the tea baggers "speak up on behalf of the tea party"?

      Are you a retard or do you just play one in the comment section of the internet.

  8. jeff hoffman says:

    This is what you don't seem to get: http://judiciary.senate.gov/pdf/11-6-29%20Cox%20T

  9. Guest says:

    What happened Jim?

    One of your escorts forget to suck you off today?

  10. Guest says:

    Fair shake? The truth for most people is that being born entitles you to nothing except life, liberty, and the pursuit of happiness, but not on someone else's dime. I don’t understand, maybe I’m from a different generation. Why should the protesters demand things like the government paying for their college educations? There is no guaranteed education in this country beyond high school. As an aside, I grew up in NJ and went to the high school where BL’s father taught in the 80’s. He was my physics teacher when I was a sophomore. He is a first a first-rate teacher and a great person.

    But back to college, I didn’t want loans or to burden my parents so I worked (horrors!) night crew in a supermarket to pay for my bachelor’s degree. On the weekends I worked as a security guard in one of the worst areas of NJ (great job for a student, I got paid to do my homework). Subsequent employers, Wall Street brokerages, paid for two master’s degrees. So I owe my a good deal of my higher education to Wall Street, but it was a mutually beneficial relationship (imagine that).

    Just saying’ to the “entitled generation” that maybe there’s another way to go in all this instead of expecting other people to do for you without anything in return. Charity is NOT a way of life.

  11. guest says:

    Do like a small percentage of SMART MONEY is doing to protest this problem, buy physical bullion! The new NKI! FTW!
    You NYC banksters are GREEDY PIGS! you have EFFED UP a great system, there are too many of you sitting around on your asses doing nothing for society as a whole. You are no better than the welfare Maloofs of LBJ's great society, you will be taken down!
    Some of you are smart enough to realize this by now as you have reverted to begging for financial bailouts from the government for several years now, what next? Mega Millions EBT cards for CEOs? Keep making those electronic trades……. soon the forces of the outside world (yes there are people outside of NYC and Stamford, CT) will take you DOWN! Clock is ticking……. scramble QUICK! like a NYC cockroach does when the lights go on.

  12. MH_MH says:

    What makes you think I'm obligated to do something for "society as a whole"? Im obligated to take care of myself and my family… I don't expect society to take care of me, I take care of myself because I'm an American. If you want society to take care of you, go to Cuba.

    And by society, you mean "you". Here's a crazy idea, go get a job and earn your own keep in this world.

  13. MH_MH says:

    America was built on uncommon people working their asses off to accomplish amazing things. The Wall St class worked their ass off and works their ass off, accordingly they get paid quite a bit of money. If you're part of the 99% and want someone to blame for that, look in the mirror. I grew up in a poor immigrant family and I worked my ass off, paid/borrowed my way through college, kept working my ass off and am still working my ass off to make the money I make. So it pisses me off when a bunch of pot heads who go to college on their parents dime and spend their days smoking pot, eating mushrooms and partying (rather than working hard in school) are protesting inequality in this country. It not inequality, its hard work.

  14. MH_MH says:

    I'd love to see the education level and GPAs of all the proud 99% protesting that they are getting the short end of the stick. They will graduate from their liberal arts college with a degree in Myan Sociology, work their 30 hour weeks at a glass blowing studio/gallery and complain about the inequities in today's America. In my America, the guy/girl who busted his/her hump through high school to get into a good college, busted their ass in college to graduate in the top 5% of their class and is now working 100+ hours a week on Wall Street is EARNING (ever heard of that word?) the lifestyle they are living. And if its better than yours, thats becuase you did not earn it…. and you're not entitled to stake a claim on it or cry foul.

  15. MH_MH says:

    The thing about America is, you can choose whatever you want. If you don't value money and instead love art, go make music or paintings or poetry… if you want to work with childeren go do it. I'm not claiming to be on some moral high ground because I'm motivated to make more money, but I don't choose a path of a more balanced life with less hard work and then complain about not having the same benefits as the guy who has been working his ass off while I've been playing the fuckin bongos.

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