marvelous!Achieve our sixth goal, enter our seventh goal: more original reports

If you don’t need to be persuaded to donate, but you just don’t get it, please visit our fundraising page directly Cut in!

Thanks to your generosity and rapid response, we have achieved our first six goals: investment in basic IT infrastructure, bonuses to our loyal guest writers, additional staff to provide continuous expansion of links; support the comment area; Power our 24/7 coverage without really draining your energy, and provide funds to expand our coverage.

Let’s pause here so that I apologize for not sending a personal thank you. We mentioned at the beginning that our streamlined staffing means sending letters during fundraising activities means fewer posts. Therefore, we thank you for your tolerance, and apologize for not being smart enough to find a way to automatically generate a gratitude.

Our seventh goal is to provide funding for more original reports. It seems strange to make this our ultimate goal. Shouldn’t we ask earlier?

The reality is that all previous goals are critical to keeping the site running. For example, rewarding our average writers is more than just acknowledging their dedication beyond their duties; it also helps attract new writers to join. Many of you have said that Links and Water Cooler are “must have” features.

Readers tell us that one of the things they value “naked capitalism” especially is its unlimited coverage of financial and economic news, and the increasing power dynamics that drive them.

From Bonita:

NC is my most trusted news source. In an era when most news has an agenda, NC is priceless. Please accept my sincere thanks to the NC staff for their work.

And in vain:

I don’t know how I found NC anymore, but I am very grateful that I did it sometime after GFC, after I got a very good job in R&D for a large hard drive manufacturer in the United States I was fired (GFC brought cash flow problems to the company, and R&D was always the first to go) and decided to return to my home country, Germany. The crook who was still waiting for the bank to be thrown into jail…but I didn’t hold my breath.

I learned a lot about MMT in North Carolina, the endless political and economic propaganda surrounding us, fair information about the coronavirus, Uber, the “gig economy”, and many other topics that I didn’t know before. Checking the daily links section is the first thing I do in the morning (however, the number of them is increasing recently). Reading reviews is always instructive. I often find other incisive information about poems and songs, good books It can be added to the (already too long) list of books to get, or link to other valuable articles on other websites.

Just finished my donation! Thank you very much for the great team of NC, this is one of the few sane places on the Internet!

And Thomas H:

About 3 years ago, Cory Doctorow introduced me to the site when he promoted the NC post on Boing-Boing. Over time, it has become a valuable source of information, and I am very grateful to you, Lambert, Jerri-Lynn, Nick, Jules, and others. Because of your hard work. Comments are a feature, not an error, and I learned a lot from the entire package. NC is a bright and shining beacon, clear and complete in an otherwise untrustworthy hyper-hype and super-commercial network.

And Dave D:

Thank you, Lambert and Jerry Lynn for everything. Without this website, I don’t know how I would survive the past two years with my sanity in place.

One of the reasons we are able to surpass our weight is that we receive a large amount of extremely high-quality input from this community.

However, although the site has made important contributions by analyzing news reports and adding expert insights, our greatest influence comes from the original reports. For example, we force all officials to be removed, Andrew Bowden of the US Securities and Exchange Commission seeks jobs for his son from people he oversees, scandal-ridden trusted advisor Robert Klausner makes CalPERS his client, and more recently, CalPERS Charles Asubonten, the former chief financial officer of China, and Ben Meng, the chief investment officer of CalPERS this year, are stories we broke.

We also humiliated CalPERS by disclosing the amount it paid through one of the largest fees (the so-called holding fee), forcing private equity to change across the industry. The changes in CalPERS are widely described as a milestone. Even a CalPERS speaker said that the fees and costs that CalPERS only disclosed under duress have shaken other public pension funds and have become more serious in trying to contain them. Hubert Horan’s Uber series allowed reporters to finally question the fundamentals of the ride-sharing company.

We wanted to report more, but we discovered why reporters are angry with bloggers: a story originally reported requires about four to ten times as many comments and analysis as a blog post.Consider this example we posted last year An example of Columbia News Review :

In this economic environment, time-consuming, in-depth reports that may get less traffic than lightweight articles become less and less. In a recent report by Mother Jones, a senior reporter served as a correctional officer for four months. This is an example of this tension. This huge 35,000-word report exposed the corruption in private prisons, but conservatively speaking, the production cost was 350,000 US dollars, and the banner ads only brought in 5,000 US dollars.

Now we undeniably have the upper hand in tasting richer content for readers of naked capitalism. But even so, original reporting requires more than just the work of criminal police than news analysis. It also involves finding potential customers who would normally not be successful. It may also require a lot of hard expenses, such as paying attorneys’ fees to pursue FOIA when government agencies provide apparently false excuses for withholding documents. Even one or two rounds of legal rattling can cost thousands of dollars.

Therefore, this is a lengthy statement. The cost of original reporting is high, but as mainstream media both encounter budget constraints and generally become less brave, it becomes more and more important.

Our original reported goal was $45,000. We have already paid $3,670 for this goal.

In addition to continuing our piecemeal work in the financial services industry, we will also let Lambert delve deeper into Covid and healthcare. We also hope that Jerri-Lynn Scofield will continue to analyze important legal decisions and let her and Lambert continue to pursue our “code is law.” Swearing will only get worse.

So those who have already contributed, thank you again for your generous support, and we look forward to those NC fans who have just discovered the fundraising activities to help make the site more successful.

There are many ways to give. The first one is on the blog, Tip jar, Which will take you to PayPal. You can use a debit card, credit card or PayPal account there (the fee will be charged in the name of Aurora Advisors).

You can also send checks in the name of Aurora Advisors Incorporated (we like checks! No processing fees!)

Aurora Consultants
164 Peach Tree Circle
Mountain Creek, AL 35213

Please also send an email to [email protected] with the subject “Check in the mail” (and just the US dollars in the mail) so that your donation can be included in the total donation.

Now donate to Naked Capitalism, whether it’s $5, $50 or $5000. If you can’t afford it, do your best. If you can afford more, give more. If you can give a lot, then give a lot. It will pay for itself, I assure you. This is not just about giving, but showing that you want a different debate, a different society, and a different culture. As one reader wrote, “Together make a small investment for our future.”

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