By Anthony McClean, Editor In Chief Emeritus NEW HAVEN (BASN) —...
Another White Fantasy Wall Street ‘Slave’ Market
ANOTHER WHITE FANTASY WALL STREET ‘SLAVE’ MARKET BRIAN WESTBROOK IS A FAVORITE IN THE BILLIONAIRES’ FANTASY LEAGUE
As reported in The Wall Street Journal October 17, 2008 “Wall Street’s $1 Million Fantasy League” QUESTION. What’s better than paying African Americans to play for your White owned NFL team ? ANSWER. Paying them NOTHING to play for your NFL Fantasy team. Once again FANTASY trumps Reality. Except what’s the Difference ??
Today’s Box is motivated by a story about the wealthiest fantasy football league among thousands maybe hundreds of thousands of such leagues around the USA and estimated 20 million fantasy football addicts.
It makes for a useful Allegory. Rich White guys trading and “employing” well known and lesser known African Americans players in the NFL to satisfy their Fantasies. None of the players see a penny as a result. If you want to use your imagination you could call it a Fantasy “Slave” Market. Rich White Guys PROFITING from the forced unpaid labor of African Americans who are powerless to do anything about it. Defined as Slavery.
We’ll provide you parts of the actual story you decide what’s going on here ” The financial crisis has been scorching investors around the globe. But through it all, some of the world’s wealthiest financiers still have enough money to play in one of Wall Street’s most exclusive and secretive competitions: A fantasy football league where the total purse is $1 million.”
” According to two participants and several business associates of league members, each of its 10 teams pays $100,000 to enter. The winner takes home a grand prize of $600,000, with $300,000 going to the second-place finisher and $100,000 for third place. These sums dwarf the typical pot for a fantasy football league.”
” Despite its high stakes, the Wall Street League isn’t markedly different from any other. The annual draft is usually held at one of the owners’ offices on a weeknight, usually right before the NFL season’s opening weekend. It begins right after the stock market closes, and there’s a strict one-minute time limit for each pick. (One participant says this season’s first pick was either San Diego Chargers’ running back LaDanian Tomlinson or Philadelphia running back Brian Westbrook). Owners who are out of town at the time participate by teleconference. Those who attend in person bring extensive notes and enter their draft picks on laptops while eating catered sandwiches.”
” The members of the $1 million league have not given interviews about the league or sought publicity. Participants say Mr. Druckenmiller, a rabid football fan who has attended Pittsburgh Steelers’ home games with his face painted in the team’s yellow and black colors, quit the league largely because of concerns that the size of the prize pool, if it became known, could hamper his bid to buy the Steelers. Mr. Druckenmiller declined comment.”
Who are the super-rich players in the ULTIMATE fantasy league ??
” The list of participants in the league, which has existed since at least 2002, includes Paul Tudor Jones, the legendary trader who helped build the hedge-fund industry; Raj Rajaratnam, the Sri Lanka native who founded Galleon Group, one of the world’s largest hedge funds; Chris James, the head of Partner Fund Management in San Francisco; Jim Pallotta, a former associate of Mr. Tudor’s who is part owner of the Boston Celtics; and Michael Novogratz, a former U.S. Army helicopter pilot who is president of Fortress Investment Group, the publicly traded firm that says it manages approximately $35 billion in assets.”
So if you want to make $600,000 playing Fantasy Football join this League except you can’t unless you’re very rich and White like all these guys who are getting billions of tax payer dollars to cover their losses bogus mortgage securities they traded in another “fantasy league” and they continue to “play” their Fantasy Football while the real players get NOTHING except used and abused like the rest of us down on Wall Street
” HOW MUCH FOR ….. ”