The City of New York wont allow speakers at Occupy Wall Street to use amplifiers so Professor Jeffrey Sachs uses a human microphone. It is a video that ought to go viral but it's a little long, the human microphone makes it double it's proper spoken length . So if you can't spare the full fourteen minutes here's my transcription of the good prof's historic speech.
...what they said in the newspaper today. They said Wall Street Bankers , they said you're unsophisticated. You dont look unsophisticated they look pretty foolish. Here's Mr John Paulson, you know who he is, the biggest hedge fund guy, he says we should like him, he says we should be so happy. He says he created one hundred jobs in New York. Let me tell you a story about Mr Paulson. Mr Paulson went to his friends. He went to his friends at Goldman Sachs. He said let's make a derivative so we can cheat some banks, not our banks on Wall Street we'll cheat some German banks. I'll fill up that derivative with junk. And then Goldman Sachs you know how to tell lies, you go sell that junk to a state bank in Germany. So they made this little story and Goldman Sachs sold that junk and Mr Paulson bet against it and the German people lost a lot of money. And John Paulson made $5 billion ! And that's what he wants us to know. And you know what five billion dollars is ? It's 100 000 people earning $50 000 in a year. So John Paulson you created one hundred jobs, your five billion dollars should have created 100 000 jobs! And that's why people walk to your house Mr Paulson, we're not so happy with you. They think you cheated the system. And you know what so did the Securities and Exchange Commission because Goldman Sachs were charged with violating financial laws because of you. And they paid $550 million in fines because they cheated together with you. We don't like the cheats we're pretty sophisticated.
We know what you've done on Wall Street every one of the big banks here Goldman Sachs, JP Morgan, Bank of America, AIG, you all stole from the American people. You brought this economy to the brink of disaster.
I'll read you another story from the Wall Street Journal. These people are more confused than anybody on this planet. They want to know what's Occupy Wall Street, they don't understand why we're here. They say why do you go for JP Morgan it's a wonderful bank, what's your problem ? Well let's tell them.
JP Morgan hooked up with a hedge fund , they made a phony derivative, they committed the same financial fraud, they sold junk to the markets, and they ended up paying $153 million this year in fines. Why didn't you mention that Wall Street Journal ? Because your editorials are lies every day. You are propaganda. Mr Murdoch you tell us lies, you cheat ... It's a pack of lies. They also defend John Paulson. They also say why don't we go out and love the keystone pipeline because Rupert Murdoch and big oil are in bed together. The Keystone Pipeline will bring the world's dirtiest energy from Canada to the Gulf, it will help wreck this planet if it goes through. It will profit David Koch. It's all about money for these reckless billionaires.
We are the 99%. And they are wrecking this planet. And we want this planet back from David Koch. We don't want pipelines bringing dirty energy to the world. We want Rupert Murdoch to stop destroying countries with this propaganda. Rupert Murdoch we don't need you. Pack of lies the whole thing. Wall Street Journal, Fox News you're wrecking this country with your lies. That's why we're here on Wall Street. It's not 'cos we're envious. It's not 'cos we think wealth is bad. It's because we think you cheat. It's because you don't follow the law. It's because you don't pay your taxes. And then you say we have no money in this country to educate our children. We have the money. It's your money in the Cayman Islands. It's your money in the Swiss bank accounts. And if you don't bring it home we're going to bring it home because this is a country of laws, because this is a democracy . And we are the 99%. We have the votes. You may have the money, but we have the votes. And you are going to follow the law. We're going to have a decent country again, and we're going to start investing in our children again. And across America they are hearing this message. And around the world today they are hearing this message.
This is the beginning of change long overdue. Ronald Reagan put us on a path to disaster thirty years ago. He said cut the taxes to the rich, squeeze the poor, don't educate the children. And every President since him has followed in the same path because the big money pays them , and they sup with the rich and the billionaires. And it's over now. We need a new direction in this country. You don't need billions of dollars to get elected in America you just need to reach the people. Barack Obama Stop having dinners with $35 000 a plate! We don't want to see you on Wall Street. We want to see you in Queens and Brooklyn and the Bronx and Harlem where people live. We don't need to see you in the Four Seasons Restaurant, we don't need to see you dining every week with rich people. We don't need to see the whole White House staffed with Wall Street.
Why is your Chief of Staff from JP Morgan?
Why is the head of the budget office from Citigroup?
Why is your Chief Economic Advisor a former worker from Goldman Sachs?
Why is it that everyone there is from Wall Street?
We need a White House that represents the country again. You promised us this President Obama. You promised change. We are calling on you today to stop catering to the billionaires stop catering to the millionaires. You don't need a billion dollars for your campaign. Send your political advisors home. Send the people back to Wall Street. Then you'll win re-election. Because then you will have the people with you. They'll remember why they voted for you, and you have to remember why you ran for office. You ran to change this country, not to have dinner with billionaires.
This country will change when politicians understand how to get the votes in this country. When they speak to us again. Because we have the free media, because you reach people all over this country . We don't need money to do it. Just put it on You Tube and it'll spread. This is the way to do politics in America now. Young people here, you're in the lead, you know how to do this, you don't have to raise money , you just have to show the camera, put it on facebook, get it tweeted, and get it out there. Because this how news spreads in America. You don't have to buy ads on Fox cable phony news. You don't have to advertise in that junk newspaper the Wall Street Journal. People are tired of the lies. Aren't we ?
[Crowd: Yes ! Applause]
UPDATE March 11th 2012 Prof Sachs has been nominated for World bank President - You can support him by signing this petition