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Carl Schweser, Former Finance Department Chair, Joins Occupy Wall Street Movement

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Huey P. Long Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-23-11 11:42 AM
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Carl Schweser, Former Finance Department Chair, Joins Occupy Wall Street Movement
http://youtu.be/rl52iOb5qng

Carl Schweser, Former Finance Department Chair, Joins Occupy Wall Street Movement
First Posted: 12/21/11 01:30 PM ET

Carl Schweser made his money teaching people how to be a part of Wall Street. Now he's spending his retirement fighting against it.

The 68-year-old former chair of the University of Iowa's finance department said that throughout his career he began to see evidence that financial institutions had stopped doing their job and that government regulators weren't doing enough to keep them in check. But it wasn't until the financial crisis of 2008 that he began to fully understand the magnitude of what was happening.

"I taught investments and fixed-income securities and I remembered in all the books on the first day of class it would say the function of the corporation is to maximize the wealth of the stockholder," Schweser said in an interview earlier this month. "But if you look at how everything is set up as a stock holder, you have no control. In effect the major stockholders and management are working for themselves."

Though he may not have much in common with most of the protesters who started gathering in his hometown of Iowa City shortly after the Occupy Wall Street protests began in Zuccotti Park, Schweser said their concerns resonated with him, prompting him to head down to the park in Iowa City to investigate. Schweser, who made millions as the founder of a test prep program that was ultimately bought by Kaplan, is one of many people who have joined the protesters or supported the 99 percent in some fashion.


full-
http://www.huffingtonpost.com/2011/12/19/occupy-wall-st...


http://www.youtube.com/watch?v=rl52iOb5qng&feature=play...
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me b zola Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-23-11 12:34 PM
Response to Original message
1. Very powerful
Thank you for sharing that
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freshwest Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-23-11 09:44 PM
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2. Interesting. Hope he can make a difference.
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lbrtbell Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-24-11 12:28 AM
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3. Thanks for sharing this - n/t
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Enthusiast Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-24-11 05:02 AM
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4. Kicked and recommended.
Thank you for sharing that. On behalf of those remaining on DU2 we appreciate your efforts.
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