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Charles “Chuck” Feeney had one goal in mind after accumulating his billions: give it away.

And not “give it away” with much self-congratulatory hoopla advised by high-powered publicists trying to make it seem that he’s done something noble and special. No, Feeney just wanted to give it away.

He did succeed and on September 14th he shut down Atlantic Philanthropies. It took him something like forty years to shower $8 billion dollars on a wide variety of necessary campaigns: from human rights to expanded health care to scientific research (among others).

Feeney and his wife now live in a modest apartment in San Francisco happy as hell that he ain’t going to die a rich man. …


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The outcry over Con-Ed’s response — or lack thereof — to the widespread and prolonged power outages wrought by tropical storm Isaias reinforced one simple and easily comprehensible fact: Con-Edison owes its allegiance to investors looking to make a profit and not to the ratepayers that pay for the bloated salaries of Con-Ed’s senior management (John McAvoy — the current boss — took in a cool $8.9 million as compensation in 2019).

This misuse of bucks does give pause for thought.

After every windy storm that hits the New York metro area there’s much hair pulling about Con Ed’s failures; followed, quickly, by folks like McAvoy offering requisite mea culpas. After two storms that hit the area in early March, 2018, that left residents in the deep dark McAvoy’s knee jerk response was to blame “weather.” …


01/31/2012 07:06 pm ET Huffington Post

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courtesy, CNBC.com

Goldman Sachs continues to amaze and, daresay, underscores how Crony Capitalism will seek whatever advantage it can from whatever crisis to simply make a buck. This is the first of a series of articles written for Huffington Post which chronicled the aftermath of the 2008 financial crisis. The Goldman entity otherwise known as MTGLQ has continued to operate unfettered and, by extension, is listed as plaintiff in numerous on-going foreclosure cases. …


A wonderful piece with much contemporary relevance written by my sister, Cheryl Sucher, for Forward.com

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Phil & Fay Sucher, Lubeck Germany 1947

A few days ago, I texted a much beloved colleague to hear how her father was faring; he had been stricken by Covid-19 a few weeks before and had been intubated and placed into a medically-induced coma. An ebullient, vivacious whirlwind, she had recently become engaged to her soulmate and had left our store to take on a national sales position. We were thrilled for her, but we were also bereft to lose her. When the store closed in mid-March because of the pandemic, she created a fundraising page for the furloughed booksellers, most of whom would only be paid until the end of the month. That page raised a phenomenal amount of money in a short period of time. …


And we’re not talking measly Washingtons…

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Louise Linton and hubby “showing off”

…those are for Main Street rubes and those useless small businesses.

No, we’re in the realm of the big stuff — Benjamins to be exact — and they’ll be striding out of Treasury quicker than thoroughbreds out of a Triple Crown paddock and into the pockets of the needy (like my old comrades at Goldman Sachs).

Get with it America: the Quants on Wall Street and their Capitalist brainiacs have transformed the economy into one that provides hefty rewards for those who gamble — with other people’s money — for their own benefit. It’s called financialization and something my aforementioned buds at Goldman turned into high economic art during the run up and immediately after the 2008 apocalypse. …


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Steven Mnuchin trying to sound assuring as he makes his through a Covid-19 press briefing

The Boss wasn’t too pleased with the Lord of Money — Treasury Secretary Steven Mnuchin — and, reportedly, laid a tirade on the poor lad over the tanking of Wall Street in recent days.

After all, Fed Big Wig, Larry Powell, was Mnuchin’s choice to run the Fed and initially seemed to prove a minor irritant to the Boss when refusing to bow and scrape when hit with all sorts of White House demands to lower the interest rate.

That was then but now with a Covid-19 pandemic in full swing Stevie has taken the reins in an effort to quell a “sky is falling” epidemic that’s led the citizenry to look to Washington for a pat on the head and a quick murmur: “it’s all going to be ok.” …


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“I’m coming for you” Picture Credit: New York Times

Obviously, the Covid-19 has changed everything and in the massive response to a tumbled, destroyed economy Wall Street has put its faith in their faithful servant: Steven Mnuchin.

In desperation he’s trying to restore that faith and to that end is working hard to make sure that the Billionaires and their Crony Capitalist Corporations (think: Goldman Sachs, near and dear to Mnuchin’s heart) get their full share of bailout money before the ordinary folk — like you and me — get the limited share of leftovers.

It’s “let them eat cake” time for Main Street and clearly companies like Goldman Sachs believe that folk have short memories and have long since forgotten how greed — and Lloyd Blankfein — led the world down a slippery financial slope. …


Joel Sucher, Contributor. New York filmmaker/author/blogger

Authors note: Couldn’t resist updating my old Huffpo piece — a personal favorite — with this new Big Law angle. Had the distinct displeasure of facing off against Sullivan and Cromwell (one of the law firms mentioned) as they defended their primo client — Goldman Sachs — against the likes of little ‘ol me and my wife.

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Some years back I penned a piece about a meeting of Big Boy Bankers concerned that their message might not get across to voters. It was the run-up to the 2016 election.

Recently another gaggle of mobbed up Wall Street types — Big Lawyers — gathered in New York to chew the fat. This time it was all about how they might help elect the one Dem candidate who they could count on to defend the interests of their Big Boy Banking clients. …


Joel Sucher

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Tuli Molina’s home, Phoenix, Arizona (foreclosed)

It’s not surprising that the mainstream media has ignored the on-going repercussions of the foreclosure crisis; that apocalyptic displacement of millions of homeowners following the 2008 meltdown. It’s not surprising that there seems to be no acknowledgement among the current stable of Democratic Presidential hopefuls — with the notable exception of Bernie Sanders — that justice delayed is justice denied.

The Wall Street crowd did their very, very best to delay the few crumbs that were offered aggrieved homeowners; something I discussed in a Huffpo piece, The Greatest Story Never Told (So Far). It detailed the effort of Banksters — essentially window dressing — to make nice to the foreclosed via the dead-on-arrival program known as the Independent Foreclosure Reviews (“IFR’s); the other, Wall Street’s ‘Legacy’ Problem, took a look at the convenient way that Big Boy Bankers and henchfolk created a PR friendly buzzword — legacy — to shove past criminal acts into a hermetically sealed box with the note: “this was the past, let’s just move on.” …

About

Joel Sucher

Joel Sucher has been producing documentaries for some fifty years and writing about subjects like surveillance, cinema, anarchism, foreclosure (among others).

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