Being there for Bloomberg News

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Tom Moroney from Bloomberg News came to camp yesterday. He didn’t understand why I giggled. Being camped at the Federal Reserve of Boston and Wall Street in NYC,  just maybe the folks have issues with the financial service sector. I think he got it. But then again Bloomberg is news – a bit different. So I regaled him with how Reuters got started. They hired people to row out to incoming sailing ships to get the news before the ships landed.  They understood that this edge in the stock market was worth money.  AkerloffSpence, and Stiglitz refer to it as asymmetic information. I’ve even heard N. Gregory Mankiw acknowledge that it exists.  The ideal classical market assumes perfect information and guarantees maximal efficiency.  Asymmetric information awards “unfair gains” to some at the expense of others. Tom kind of looked away for a bit. After all, I had impeached the character of his entire business. “That doesn’t mean I won’t talk to you.” He rebounded quickly and the interview was on.

I’m on Bloomberg News!!!

After my interview, of which you only see a part, I gave Tom a quick tour of the camp and connected him with two other occupiers Nat Jackson from the Anarchist Caucus and John Niles of Veterans for Peace. And again, you only see a portion of what Tom shot.

Tom and I spoke a bit about history.  I have to assume that his remarks were off the record since I had not identified myself as a “citizen journalist” at the time. I infer from his remarks that he was responding to my use of the word anarchist. I think the conversation would be well served if we make this public and extend it. How ’bout it Tom? I’ll give y’all a hint of what I’m thinking. I was trained as a physicist, I’ve followed the work of many of the “best in the business.” Yet my own thinking leads me back to remarks made by Danny Greenberger at City College years ago. The regularities we think we find in nNature are often more than well worth betting on, but they are never really guaranteed.  We were sure space had three dimensions and time one. If we decide on 10+1 will that be the end of it?

1I want to get Noam into this but I have to get back to camp. I shall return.

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