We’ve had 792 of you give our fundraiser, and are close to reaching our goal of 1000 donations. So far, your contributors have paid for boosts to site speed and service, a travel budget for our writers, meaningful “thank yous” to the regular guest bloggers, and vacation support to keep the site vibrant while I get some badly needed downtime. Thanks to your speedy responses, we’ve going to be getting some advice on micro coding and tweaks that will help us with
Darth Vader Google, since being featured properly in searches is important to extending our reach.
Our final target is $8,500 for an intern and other research support. For instance, we’d like to do some serious analytical work on private equity fund returns, since the funds’ claim to superior performance is why investors continue to shovel money at them with too few questions asked. And that’s before we get to the wee problem that too often they achieve these results by levering up the companies they acquire and paying huge special dividends rather than invest in the business, and then slash headcount to enable them to meet the interest payments. The worst aspect of this picture is that the private equity fund managers like Blackstone, Bain, and KKR profit even when they drive companies into bankruptcy (note that the investors in the funds don’t fare as well).
We’ve learned that while volunteers can be enormously helpful, by nature we can’t count on them to be there when we need them. We have a highly qualified mathematician, our Andrew Dittmer, who could perform the private equity analysis. And we’d like to keep our 2012 intern Jessica assisting us from Spain, where we hope she can give some on the ground reports. Given that we publish every day and many of the things we cover have short windows in which we can influence perceptions, we need resources we can rely on, and we can’t ask people to make that sort of commitment without paying for that commitment.
The goal here is to build a culture where we pay for truth, instead of being lied to for free. We got confirmation last weekend, when in its op-ed section, the New York Times asked Academy-Award winning documentary filmmaker Alex Gibney about his tastes:
FOLLOWING The Naked Capitalism blog gives you a very unvarnished look at the political economy. You find out things that don’t show up in the news until weeks later. Also, the Center on National Security Web site, which every day publishes a roundup of articles about national security issues.
Similarly, Brad Miller told you how this site was part of a critical infrastructure that educates and provides independent analysis on finance and economics to people on the Hill, Congressmen as well as staffers. Neil Barofsky wrote how Naked Capitalism has become a counterweight to the forces that work to shape public perceptions about finance: powerful megabanks, government officials, and a captured media. Bill Black exhorted readers to join this effort to change the corroded thinking in the halls of power.
Here is what some of you have said:
This is about impact. I don’t know of another place where the donation would make more difference. And thanks for helping me make sense of the world around me.
You work so hard and I learn so much!
Few things are indispensable. NC is one.
I cannot thank you enough Yves, Lambert, and all the unknown folks who make this blog what is due to your genuinely meaningful work.
It’s difficult for me to express my gratitude for your work. Because of your site, I know I’m not alone and I know I’m not crazy. I often disagree with you, but that’s not the point; the point is that you have created a space where people can talk about the truth, where facts, reason, and logic are prized. NC is a clear example that another world is possible. It’s not perfect, not a utopia, and it doesn’t solve all our problems. It is, however, a community outside the Main stream media. And that fact gives me tremendous hope.
To join us, you can use the Tip Jar in the upper right column, WePay further down in the right column, or by check made out to Aurora Advisors Incorporated to Aurora Advisors Incorporated, 903 Park Avenue, 8th Floor, New York, NY 10075
I’m deeply grateful for how many of you have supported us over the years in the various ways you can. Today is the last chance for this 2013 fundraiser. So give now to Naked Capitalism. If you can’t afford much, give what you can. If you can afford more, give more. If you can give a lot, give a lot. This isn’t just giving, it’s a statement that you are want a different debate, a different society, and a different culture. It’s time to join us as we make sure this site can do an even better job of debunking the lies that prop up a diseased power structure and promoting a more just social order.