Naked Capitalism

Naked Capitalism is an American financial news and analysis blog that "chronicles the large scale, concerted campaign to reduce the bargaining power and pay of ordinary workers relative to investors and elite technocrats".[1]

Naked Capitalism
Homepage dated November 1, 2014
Type of site
Financial news and analysis
Available inEnglish
OwnerAurora Advisors Incorporated
Created byYves Smith
URLwww.nakedcapitalism.com
Alexa rank 12,591 (US 11/2014)
CommercialYes
RegistrationNone
Launched1 January 2005 (2005-01-01)
Current statusOnline

Susan Webber, the principal of Aurora Advisors Incorporated and author of ECONned and using the pen name 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 of the banking industry and the mortgage foreclosure process, the worldwide effects of the banking crisis of 2008, the 2007–2012 global financial crisis, 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".[2]

Background

Webber graduated from Harvard College and Harvard Business School. She had 20 years of experience in the financial services industry with Goldman Sachs, McKinsey & Co., and Sumitomo Bank.[3] She has written articles for the New York Times, Bloomberg, and the Roosevelt Institute.[4][5] In 2006, Webber started writing because,[6]

...there was an obvious underreporting in the US of the severity and extent of the underpricing of risk in all credit instruments.

— Yves Smith, Naked Capitalism, About section

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.[7][8]

Impact

The New York Times financial reporter Gretchen Morgenson cited Naked Capitalism as one of the "must-read financial blogs" she read regularly.[9] Since 2010, Yves Smith has been a repeat guest on Le Show hosted by Harry Shearer.[10][11][12][13] In 2013, Naked Capitalism released an e-book titled "Naked Capitalism Whistleblower Report on Bank of America Foreclosure Reviews".[14]

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, 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.
gollark: If it errors it'll return `false` so it'll stop the loop.
gollark: No, don't do that.
gollark: `while true do xpcall(loop) end`
gollark: `adduser` or whatever it is lets you only allow specific people access to the computer and screen and whatever, which... kind of obsoletes passwords?
gollark: With `adduser` or something.

References
  1. Smith, Yves. "About Naked Capitalism". Naked Capitalism. Retrieved 2 November 2014.
  2. Carney, John (27 January 2012). "The Best Alternative Financial Blogs". CNBC. Retrieved 2 November 2014.
  3. "Speaker's Biography: Yves Smith, Blogger, "Naked Capitalism"". Milken Institute. Retrieved 5 November 2014.
  4. "Yves Smith". Bloomberg View. Retrieved 5 November 2014.
  5. "Guest Post from Yves Smith: Goldman Sachs' Glass Ceiling Remains Intact". Roosevelt Institute. Retrieved 5 November 2014.
  6. Smith, Yves, "About", Naked Capitalism
  7. Davis, Charlie. "Naked Capitalism". false dichotomy by charles davis. Retrieved 5 November 2014.
  8. Strether, Lambert. "2-for-1 Links Split". Naked Capitalism. Retrieved 5 November 2014.
  9. "Follow the Money: Gretchen Morgenson on Wall Street". The New York Times. Retrieved 2 November 2014.
  10. "Yves Smith Interview #1". HarryShearer.com. 12 September 2010. Retrieved 5 November 2014.
  11. "Interview with Yves Smith #2". HarryShearer.com. 10 October 2011. Retrieved 5 November 2014.
  12. "Interview with Yves Smith #3". HarryShearer.com. 9 February 2012. Retrieved 5 November 2014.
  13. "Transcript: Yves Smith Interview, HARRY SHEARER INTERVIEWS YVES SMITH". HarryShearer.com. 28 April 2013. Retrieved 5 November 2014.
  14. Naked Capitalism Whistleblower Report on Bank of America Foreclosure Reviews
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