Thanks! Achieve our sixth goal, to the seventh: more original reports

If you don’t need to be persuaded to give but haven’t yet, please go directly to our fundraising page!

Thanks to your generous responses, we’ve achieved our top six goals: Investments in our core IT infrastructure, bonuses to our loyal guest writers, staff growth to provide ongoing expanded links, support for the comments section, and our horsepower providing 24/7 coverage without burning our small team, and funding to expand our reach.

Our seventh goal is to fund more original reports. It may seem strange that this is our ultimate goal. Shouldn’t we ask sooner?

In fact, all of the above goals are necessary to keep the site going. For example, rewarding our regular writers is not just about recognizing their dedication that goes beyond the call of duty; It also helps attract new writers, as we did this year. Many of you have said that connectors and a water cooler are “must-have” features.

Readers have told us that one of the things they particularly appreciate about Naked Capitalism is its unchecked coverage of growing financial, economic, and geopolitical news, and the power dynamics that drive it.

From Janet T and Steve H:

I could write a lengthy email about how much we value bare capitalism in our family, but I’ll try to keep it short and sweet. We just made a donation, hopefully in time to meet Sarah’s challenge.

Early each morning Steve would check the news “over there,” and for a few years he would bring me my morning coffee and the news for a half hour before I got ready to go to work. I retired a year before my 45-year nursing career, so now he waits until after I wake up to discuss the morning news with me over my morning coffee. NC has been the most consistent source of information and good thinking every day for us over the past decade (maybe longer?), and for that we are grateful to both of us.

As a healthcare professional, comments from IM Doc and others at the “COVID Brain Trust” have been illuminating since the beginning of this pandemic, with accurate information not uncommon in the official MSM line. I can only hope that IM Doc and others can stay healthy and sane while still working in this current environment. It really is the most bizarre condition and disease I have ever seen in my adult life. Also, other current world events are presented, with important information and ideas discussed in NC that also do not mimic MSM’s official line(s). Putting all of these together for Links and the water cooler is a nice day-to-day job for whoever handles it.

I (and we) really appreciate the years of critical thinking and work done by all those who have made bare capitalism what it is: an invaluable resource for those of us who want to reflect on the events and circumstances that can affect our entire lives. In different ways, with information presented clearly, and great feedback adding additional depth and insights.

With many thanks and gratitude to you, Eve (brilliant intellect), Lambert (intelligence!), and all the depositors and contributors whose names I cannot remember at this moment

Eudora Welty:

donated. I can think of many reasons I appreciate: I.M. Doc reports, Jerri-Lynn’s earlier style, lectures from Michael Hudson, Eve’s sharpness (that’s a word), Lambert’s paradox, commentary. The antidote too. It is the best source for real news.

Some notes will be short and sweet. From Marsik:

:

in. Thanks for providing such an excellent site.

One of the reasons we are able to surpass our weight is the large and high quality contribution we get from this community.

But as much as this site makes an important contribution by analyzing and adding expert insights to news stories, our biggest impact has come through original reporting. For example, all the officials we’ve forced out of office, Securities and Exchange Commission member Andrew Bowden looking for a job for his son from the people he regulates, scandal-ridden credit counselor Robert Klausner who was his CalPERS client, and most recently, Charles Ospontin, former CalPERS CFO. And this year, Ben Meng, chief investment officer of CalPERS, they all stem from the stories we’ve published.

We also forced an industry-wide change in private equity by exposing CalPERS to disclose how much it was paying with one of its biggest fees, the so-called transfer fee. CalPERS’ change has been widely described as a milestone. Even a CalPERS guest speaker said its disclosure of fees and costs, which CalPERS only released under duress, has rocked other public pension funds into getting more serious about trying to contain them. Hubert Horan’s Uber streak has reporters finally wondering about the basics of the ride-sharing company.

Our reports are important in informal/social networks. Lambert’s extensive work on aerosols and ventilation helped increase the use of Corse Rosenthal boxes and strengthen the spines of readers who wear masks. His removals from the Centers for Disease Control and Prevention (CDC), and most recently his terrible advice on hospital safety, will stand the test of time.

We’d love to do more reporting, but we figured out why journalists resent bloggers: a story that was originally reported takes nearly four to ten times what happens in a blog to comment and analyze. Consider an example from Columbia Journalism:

A recent report by Mother Jones in which a senior reporter worked for four months as a corrections officer exemplifies this tension. The massive 35,000-word report exposed corruption in private prisons, but it cost $350,000 to produce, and only brought in $5,000 in banner advertising.

Now, admittedly, we have an advantage that readers of bare capitalism get a taste of more meaty content. But even so, the original reporting not only required a lot of unacceptable work from analyzing the news. It also includes following up on potential clients who often don’t succeed. It can also require expensive dollar expenditures, such as paying attorneys to pursue a Freedom of Information Act when the government agency provides a clearly false excuse to withhold documents. Even a round or two of legal saber rattling runs into the thousands of dollars.

This is a long, winding way of saying that original reporting is expensive but is becoming increasingly important as the mainstream media faces budget constraints and is generally less aggressive.

Our original reporting goal is $45,000. We’re already $520 for that goal.

In addition to continuing our work in the financial services industry, we’ve had Lambert delve deeper into Covid and healthcare. You’re really going to do a lot more work on continuing the backlash from sanctions, especially the impact on banking and trade flows. KLG is now introducing new work on acquisitions and intellectual corruption in the medical/biological sciences field, and has made it and Lambert continue to pursue ‘code as law’. The crapification is getting worse.

So those of you who have already contributed, thanks again for your generous support, and we look forward to those fans in NC who just found out about fundraising to help make the site even more successful.

There are multiple ways to donate. The first is here on the blog, Tips Jar, which takes you to PayPal. There you can use a debit card, credit card or PayPal account (the fee will be in the name of Aurora Advisors).

You can also send a check (we love checks! No processor fees!) in the name of Aurora Advisors Incorporated to

Aurora Advisors Incorporated
164 Peachtree Circle
Mountain Brook, L35213

Please also email yves@nakedcapitalism.com with the subject “Check in the Mail” (and just $ is on the way in the message) to include your contribution in the total number of donations.

Donate now to Naked Capitalism, whether it’s $5, $50 or $5,000. If you can’t afford too much, give what you can. If you can afford more, give more. If you can give a lot, give a lot. It will pay for itself, I guarantee you. This isn’t just a tender, it’s a statement that you want a different discussion, a different community, and a different culture. As one reader wrote, “A small investment in our future together.”

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