Earlier today on Wall Street, a group of individuals stripped naked as part of their demand for transparency in the financial world. “I’m trying to illuminate a dark cranny in the financial world,” performance artist Zefrey Throwell, whose mother “her entire life savings in the stock market crash of 2008,” told Metro. “Its been three years and nothing has changed. It’s still mysterious.” A dark cranny of the financial world wasn’t the only thing that got illuminated, as the group’s “commentary against the financial industry” apparently involved some intense nude lunging. (Probably NSFW, unless you work for Ron Jeremy’s new consulting firm or at SAC.) Read more »
It was probably only a matter of time until the call for “blood, damnit, and, frankly, anyone’s blood will do” got loud enough that being a customer of a particularly unpopular organization started to get dangerous. That time is at hand. Between calls to out the names of every U.S. customer of a given foreign bank, demands that AIGs counterparties be disclosed, salary and bonus figures for employees of organizations that, today, happen bear the ire of the public, and the customer of the Fed’s discount window (or customers of any other of the Fed’s wide ranging products for a modern financial world), it is quickly looking like there might not be a private transaction left in the country after July 2010. It is worth mentioning that, with the exception of depositors in Swiss banks, none of the people about to be exposed as involved in perfectly legal transactions, have even been indicted, much less convicted of committing any crime. Much as Goldman Sachs might make my toenails itch, the fact that they bought credit default swaps from AIG doesn’t make them evil. (Well, not only that, anyhow). Nor is it particularly useful to know that a given AIG CDS customer is French. (Well, it’s useful to us, but we make fun of the French for a living).