Naked Capitalism is an American financial news and analysis
blog
A blog (a truncation of "weblog") is a discussion or informational website published on the World Wide Web consisting of discrete, often informal diary-style text entries (posts). Posts are typically displayed in reverse chronological order ...
that "chronicles the large scale, concerted campaign to reduce the bargaining power and pay of ordinary workers relative to investors and elite technocrats".
[
Susan Webber, the principal of Aurora Advisors Incorporated - a management-consulting firm based in New York City - and author of ]ECONned
''ECONned: How Unenlightened Self Interest Undermined Democracy and Corrupted Capitalism'' is a 2010 non-fiction book by Yves Smith, author of the Naked Capitalism blog. The book describes how the deregulation of the financial industry and the s ...
, using the pen name
A pen name, also called a ''nom de plume'' or a literary double, is a pseudonym (or, in some cases, a variant form of a real name) adopted by an author and printed on the title page or by-line of their works in place of their real name.
A pen na ...
Yves Smith, launched the site in December 2006. She focused on finance and economic news and analysis, with an emphasis on legal and ethical issues
Ethics or moral philosophy is a branch of philosophy that "involves systematizing, defending, and recommending concepts of right and wrong behavior".''Internet Encyclopedia of Philosophy'' The field of ethics, along with aesthetics, concerns ma ...
of the banking industry and the mortgage foreclosure process, the worldwide effects of the banking crisis of 2008, the 2007–2012 global financial crisis
7 (seven) is the natural number following 6 and preceding 8. It is the only prime number preceding a cube.
As an early prime number in the series of positive integers, the number seven has greatly symbolic associations in religion, mythology, ...
, and its aftermath.
The site has had over 60 million visitors since 2007, and was cited as among CNBC's 2012 top 25 "Best Alternative Financial Blogs", calling Smith "a harsh critic of Wall Street who believes that fraud was at the center of the financial crisis".
Background
Webber graduated from Harvard College
Harvard College is the undergraduate college of Harvard University, an Ivy League research university in Cambridge, Massachusetts. Founded in 1636, Harvard College is the original school of Harvard University, the oldest institution of higher lea ...
and Harvard Business School
Harvard Business School (HBS) is the graduate business school of Harvard University, a private research university in Boston, Massachusetts. It is consistently ranked among the top business schools in the world and offers a large full-time MBA p ...
. She had 20 years of experience in the financial services industry with Goldman Sachs
Goldman Sachs () is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Warsaw, Bangalore, H ...
, McKinsey & Co., and Sumitomo Bank
was a major Japanese bank based in Osaka and a central component of the Sumitomo Group. It merged with Sakura Bank on April 1, 2001 to form Sumitomo Mitsui Banking Corporation.
History
Sumitomo Bank was established as a private enterprise in ...
.New York Times
''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid d ...
'', Bloomberg, and the Roosevelt Institute
The Roosevelt Institute is a liberal American think tank. According to the organization, it exists "to carry forward the legacy and values of Franklin and Eleanor Roosevelt by developing progressive ideas and bold leadership in the service of rest ...
.
Reporting
Naked Capitalism features a daily Links article linking to timely articles and analysis from other websites. Starting in 2014, the popularity of the daily Links article caused a daily 2:00 PM Water Cooler article to be introduced to link to same-day news to make publishing the daily Links easier by reducing the number of links.
The daily Links also features an Antidote du Jour, normally a picture of an animal. The 2:00 PM Water Cooler features plant images.[
]
Impact
''The New York Times'' financial reporter Gretchen Morgenson cited Naked Capitalism as one of the "must-read financial blogs" she read regularly.Le Show
''Le Show'' is a weekly syndicated public radio show hosted by satirist Harry Shearer.
The program is a hodgepodge of satirical news commentary, music, and sketch comedy. Shearer, an impressionist known for his voice work on ''The Simpsons'', wr ...
'' hosted by Harry Shearer.[Naked Capitalism Whistleblower Report on Bank of America Foreclosure Reviews]
Contributing writers
Naked Capitalism features Yves Smith's contributions and articles and analysis from the following current major contributors:
* David Dayen, who also contributes news and analysis to the political blog Firedoglake.
* Edward Harrison, founder of Credit Writedowns, a financial blog.
* Philip Pilkington
Philip Pilkington is an Irish economist working in investment finance. He became well-known for his critiques of neoclassical economics on his blog ''Fixing the Economists''. Since then he has written a book entitled ''The Reformation in Econom ...
, blogger at Fixing the Economists and a contributing writer for The Guardian.
* Matt Stoller, fellow at the Open Markets Institute
* Richard Smith
* Nathan Tankus
* Lambert Strether, blogger at Corrente Wire.
References
External links
Aurora Advisors Inc. bio for Susan WebberNaked Capitalism entries on the Daily Kos blog
{{Authority control
American financial news websites
Financial news agencies
News agencies based in the United States