Book Reviews | Gordon Campbell | News Flashes | Scoop Features | Scoop Video | Strange & Bizarre | Search

 


How Does the 1 Percent Exploit America? Find Out in 1 Minute

How Does the 1 Percent Exploit America? Find Out in One Minute (Video)

by Robert Greenwald, Brave New Foundation
17 February 2012

Even in an Occupy world, most Americans don’t know exactly how the 1% does what it does. The mainstream media hasn’t explained it, and the 1% likes things that way.

That’s why we’ve created a new video series unmasking those in the 1% who are exploiting the 99%—name by name, fact by fact. Each short video—one minute apiece—lays out the truth about a different tycoon. These aren’t opinions; these are facts, condensed into bite-sized chunks. Occupy has already revealed the country’s widespread outrage at the 1%; now it’s time for the plutocracy’s dirty deeds to be common knowledge.

The best part? Brave New Foundation’s audience chose the people we’re highlighting. We solicited suggestions on nominees, narrowed them down to 30, and let our audience vote on which ones they thought deserved to be exposed. The new videos represent five of the top vote-getters, with more videos below for the rest. Here’s one:

Rob Walton, Chairman of Walmart

Of course, the 1% would like to keep its activities shrouded in secrecy. Hiding behind complicated phraseology like “collateralized debt obligation” makes it hard for the public to bust you. But you don’t have to be a financier to understand how these guys operate. Our first set of videos (below) gives it straight on Rob Walton of Walmart, Lloyd Blankfein of Goldman Sachs, Pete Peterson of the Blackstone Group, Jamie Dimon of JPMorgan Chase, and Rupert Murdoch of News Corp.

Little by little, the 99% is chipping away at the 1%’s power. Watch the video series to get the basics on how that power is being wielded.

Lloyd Blankfein, Goldman Sachs

Pete Peterson, Co-Founder of the Blackstone Group

Jamie Dimon, CEO of JPMorgan Chase

Rupert Murdoch, President of News Corp

KNOW THE FACTS

• In just the last generation, the richest 1% almost quadrupled their incomes.
• The average wealth of the 1% is 225 times bigger than the wealth of the typical household – the highest it’s ever been.
• Three decades ago, CEOs made about 40 times as much as an average worker – now CEOs make almost 200 times as much as regular employees.
• Last year, half of Americans earned less than $26,000 while CEOs at top 500 companies raked in an average of $11 million.
• Over the past decade, earnings for middle-class Americans actually fell. In fact, working Americans’ wages are now a lower percentage of our economy than they’ve ever been.
• The divide between the richest and the poorest is worse in America than it is in nearly all of Europe and Asia and much of Africa. It’s about as bad as in Rwanda and Serbia – and it’s bad for our economy.
• The 1% is not an accident – it is the result of policies our government chose to pursue.

ENDS

© Scoop Media

 
 
 
 
 
Top Scoops Headlines

 

Scoop Is Crowd Funding: Help Scoop.co.nz To Fly In 2015

Scoop is NZ's oldest and largest independent online news service. We have described ourselves as fiercely independent for more than a decade and we would like to stay that way... By making Scoop’s connection to the public and contributors more explicit we hope to achieve the level of support and sustainability that will enable Scoop to fly as a community asset. More>>

ALSO:

Greek Riddles: Gordon Campbell On The Recent Smackdown Over Greece

There had been a fortnight of fevered buildup. Yet here we are in the aftermath of the February 28 showdown between the new Syriza government in Greece and the European Union “troika” and… no-one seems entirely sure what happened. Did the asteroid miss Earth? More>>

ALSO:

McBeth On The Cricket World Cup: It's How They Handle Fan Pressure

Brendon McCullum's team has achieved impressive results in the lengthy buildup to the contest and they deserve to be among the favoured teams, but... Their results need to be kept in perspective and fans should get a much better idea of the Black Caps chances when they face England in the capital on Friday. More>>

Keith Rankin: Contribution Through Innovation

The economic contribution of businesses and people is often quite unrelated to their taxable incomes. EHome, as a relatively new company, may have never earned any taxable income. Its successors almost certainly will earn income and pay tax. Yet it was eHome itself who made the biggest contribution by starting the venture in the first place. More>>

ALSO:

A Public Conversation: Reinventing News As A Public Right

Alastair Thompson: Oh how the mighty have fallen. Once journalism was possibly a noble profession, though that is certainly now, to quote our Prime Minister, a 'contestable' notion. It certainly seemed at least a little noble when I joined the ranks of reporters in 1989 . But ... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
Top Scoops
Search Scoop  
 
 
Powered by Vodafone
NZ independent news