Trader Talk

Occupy Wall Street Bar and Grill?

Opening soon: The Occupy Wall StreetBar and Grill? You know the cultural zeitgeist is getting thrown in a blender when stock traders in midtown call me up and say, "Hey Bob, I'm coming downtown tonight...wanna grab a beer and hang out with the protesters?"

Jack Andersen | FoodPix | Getty Images

Huh? These are the same guys who were critical of the Occupy Wall Street movement initially, calling out the unfocused nature of the movement. "How will they know when they've won? How do they know when it's time to go home?" was a common theme I heard.

  • Maybe it's just curiosity, but attitudes seem to have softened somewhat in the past week, when much of the country has realized that — unfocused or not — the protestors are at least partially tapping into the vague angst that has gripped the country, the sense that something is wrong.

Most of the trading community still does not agree with the nature of the demonstrations, but there's no doubt they are getting more respect.

The press has certainly caught on. Walking by Liberty Park one week ago at 7am ET, when most protesters were asleep, there was not a single visible TV reporter on site.

But this morning (Tuesday) at 7am, there was a small army of TV trucks and several reporters — with lights! — gearing up for the 7am broadcast.


Hello, Slovakia! Keep voting, until you get a yes. I noted this morning that Slovakia, voting to approve the expansion of the EFSFthis morning, is under enormous pressure to vote yes as it is the last country to approve the expansion.

The vote is ongoing, and there is a fairly high probability it will not pass, since one of the junior members of the government coalition (we are talking about a country with 5 million people) have been adamantly opposed to voting yes.

But that doesn't end the vote. The government is already threatening a general election and a no-vote confidence in the government. There may well be some kind of modified early election agreement that will reshuffle power. At that point — in a couple days — another vote will be held.

In other words, keep voting until you get a yes.

All of this, of course, points to the utterly unwieldy nature of the approval process. The only rational solution relies on rewriting the treaty agreements (along with hundreds of millions of euros in aid).

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