Oh dear, here we go again: “Wall Street is a meritocracy, for the most part,” an irate but of course unnamed onetime Citigroup executive confides to junior father confessor Gabriel Sherman in this week’s hallucinatory New York magazine cover story, “The Emasculation of Wall Street.” “If someone has a bonus, it’s because they’ve created value for their institution.”
In the jumpy, suggestible universe of Gabe Sherman, Wall Street sleuth, things really are that simple: The beleaguered financial overclass creates value, in a rationally ordered system of maximally awarded talent. And the clueless public sector, intoxicated on post-meltdown regulatory prerogative, meddles with the primal forces of nature, skews executive [...]
A column dedicated to explaining Britain's manufactured celebrities to an American audience.
Heartening news for those unjaded souls who, in the face of relentless evidence to the contrary, hold dear the notion of Great Britain as a bastion of civility: a new research study has debunked “the common perception of a Rude Britannia.” Apparently, in between drunken fisticuffs, sticking pins into crudely formed likenesses of Kate Winslet and casting votes on reality shows, the denizens of Her Majesty’s Kingdom are quite polite to one another.
Through my shock, I ponder the possible impetus behind this investigation, and thus call to mind a display of decency and breeding such [...]
April of 1992 seems like paradise now, in certain ways. The economy was bouncing back nicely, thank you, even if it wasn't yet fully obvious. We users of Prodigy, Compuserve and AOL were all yapping incessantly on our BBSes, and we were about to try out that newfangled "e-mail" thing. "Are you on e-mail?" people would soon be saying. Bill Clinton had only just clinched the Democratic nomination. (That Arkansas governor! Did you know he was a Rhodes Scholar, too?)
But the year before, in March, a man named Rodney King had been tasered twice and then beaten half to death by a pack of Los Angeles police officers. The [...]
And now we enter phase three of massive social unrest, in which the media wonders: who are "the looters" and why might they be "upset"? Literally: "The crowds involved in violence and looting are drawn from a complex mix of social and racial backgrounds." Oh I see. And: "Two girls who took part in Monday night's riots in Croydon have boasted that they were showing police and 'the rich' that 'we can do what we want.'" Why didn't anyone tell the media before that England was populated with a huge resentful underclass? WHY WAS THERE NOT A PRESS RELEASE ABOUT THIS?
Tonight, at PowerHouse Arena, it is the Brooklyn Launch Party for Tom Scocca's Beijing Welcomes You, a nonfiction chronicle of what Beijing has so recently become. As China is now (well, as usual) so much in the news, we asked him some questions!
Choire Sicha: Tom Scocca, as you have written a book called Beijing Welcomes You: Unveiling the Capital City of the Future, which is brand new and good and also a book I have read, you are the only expert on China.* (*That I personally know.) Is this a great week for China or what?
Tom Scocca: If you set aside the fact that all [...]
After Mark Duggan was shot by police in North London, in Tottenham, four days ago, the family conducted a peaceful vigil and march to the police station (as one does in black communities around the world; standard practice in Oakland, East New York, etc.). There were discrepancies in the account of Duggan's death, as usual. (Police said he'd shot an officer; instead, as usual, an officer apparently shot an officer.) Family and friends waited outside the police station for hours and were ignored. Later that night, a different kind of demonstration emerged, and 26 police were injured in what ensued. Over the weekend, riots and mini-riots "broke out" from [...]
As lead-ups to fortieth birthdays go, I recommend steering clear of subway preachers who forecast the Rapture for the very day you're most dreading. For 18 months now, End-Timers have been gathering daily, at the top of the stairway to the train I take home from work, to press “Judgment Day” tracts on unsuspecting commuters. I'm sure someone else, someone who lacked my fundamentalist baggage, would've laughed at the coincidence and shaken it off, but to me it felt personal when the men turned up there, with their pamphlets and placards and dire predictions, as though the God I grew up fearing and eventually turned my back on [...]
Full disclosure, my darlings! Not only am I reading Stephen Davis' SHOCKINGLY RAD Hammer of the Gods: The Led Zeppelin Saga for the very first time (at the behest/demand of the dissipated-yet-charming Alex Balk), but my initial Led Zeppelin knowledge base was as follows: they are not the same people as Def Leppard, whose music was featured in the recent art film Balls of Fury. (I also have "Kashmir" and "Whole Lotta Love" on my iPod, and, although I would have been unwilling to swear to it in a court of law prior to reading this book, I could probably have identified them as the "Stairway To Heaven" guys.) I'm [...]
In the wake of the devastation of last week's weather—178 tornadoes in two days! Hundreds dead, many missing—states from Tennessee to Alabama to Texas are beset with looters, we hear. Seven in Ohio! Three in St. Louis! Two in North Carolina! Maybe 20 all told in Alabama! Literally, perhaps three dozens of people have been arrested for looting in the past week.
(Can we have a sidebar? "In Alabama, businesses are prohibited after disasters from increasing the price of items for sale or rent by 25 percent or more above the average price charged in the same area within the last 30 days." [...]
It's worth taking a long, slow read of this morning's Times story on lack of prosecution in general and particularly the lack of Justice Department civil or criminal cases regarding the "financial crisis." For one thing, there are at least two instances of someone directly lying to the reporters in the story (although it is unknown to us which of the parties giving conflicting accounts is lying). Elsewhere, people put the blame on regulatory inaction: "In 1995, bank regulators referred 1,837 cases to the Justice Department. In 2006, that number had fallen to 75. In the four subsequent years, a period encompassing the worst of the crisis, an average [...]
That pill-popping, boy-crazy nincompoop Ayn Rand has got a lot to answer for. Indeed, it's not too much of a stretch to say that we owe at least part of the recent economic crisis to her and her philosophy of Objectivism, since former Fed chief Alan Greenspan was a lifelong disciple of both.
The two first met in the '50s. Back then, a gang of acolytes, calling themselves the Collective, used to gather at Rand's apartment on East 36th Street every Saturday night so they could tell each other how smart they all were. Along came Greenspan one evening, shy and somber.
It took a while for Greenspan and [...]
It definitely now seems certain that the Egypt protest movement will not be petering out! It also sounds like tomorrow will be a huge, huge day. Yet still there are a couple of ways in which the protest movement there can be destroyed or damaged—and "total state crackdown" is an unlikely one. The state most likely does not have those kind of resources, and the movement has reached a state where state-sponsored violence will be met with resistance.
9/22/12 New opening bit: Who do we got out here tonight? Hold on a minute. Is that…? Is that the Road Warrior out there? Do we got Mad Max out in the audience this evening? Wait. No, that’s just Tina Turner’s weave from Beyond Thunderdome. (Start singing “We Don’t Need Another Hero” and try to get the audience to sing and clap along.) Segue into: How is Mel Gibson still racist? There’s only one skin color now—dirt—and he’s that color, too!
9/26/12 Did a show at an actual comedy club instead of some six-legged-rat-infested dump—must still be in use because of its basement location/surplus of booze they had on Doomsday—and [...]
It resonated richly, bouncing off the walls on Bainbridge Avenue: "Mierrrrrrrrrrrrrrrda." Pedro Espada, Jr., his squat frame gone tense, just received word of a massive lawsuit filed against him by Attorney General Andrew Cuomo. It was April 20th. A day later, the FBI came. At least that's how I imagine his response. The endless saga of the Bronx politico's corruption and malfeasance is so farcical, so theatrical, that it easily could be scripted by David Simon. For a moment, it appeared that Espada would evade his ethical conundrums, scot-free, just like another Democratic State Senator, Clay Davis from Maryland. But now the state's Democratic party is trying to purge [...]
"Goldman's many hats – trader, adviser, underwriter, matchmaker of buyers and sellers, and salesperson – has left some clients feeling bruised or so wary that they have sometimes avoided doing business with the bank." –
The Great Market Crash of May 6, 2010, affected everyone in different ways. With the passage of time we can look back at the events of that day from a historical standpoint. In three separate interviews we got the perspective of a trio of bloggers from The Awl, a semi-popular website of that era.
This is very strange, this fall/winter 10/11 line of all-over print duotone wear with, um, face masks. The face-hoodies (I guess?) are practical in case you need to go looting. But my favorite part of the McQueen show in Milan is the DEAD EYES and listless walks on all the models. How do you explain to models how to do that? "We're going for very recently dead."