Perhaps $150,00 is not that much compared to the avalanche of corporate millions that pour into the so-called “Tea Party” and other right-wing organizations.

But it’s a start — and more importantly, it’s indicative of the Occupy Wall Street/Occupy Together movement’s momentum.

Increasingly, more of us reach the breaking point and are no longer willing to tolerate plutocratic rule. This movement is the expression of public will to change.

This is good news.

Occupy Wall Street raises over $150,000

by Logan Burruss

As the Occupy Wall Street protests gain momentum, the money starts pouring in. The group says it has raised more than $150,000.

NEW YORK (CNN) — After 26 days of protests in New York’s financial center, the Occupy Wall Street movement has raised over $150,000 in donations, according to Pete Dutro, a member of the protest’s financial arm.

This massive fundraising was made through donations via mail, two websites — occupywallst.org and nycga.cc — and in person to members of what the movement calls its “Finance Working Group.”

Separately, four days ago, “Occupy Wall Street Media” successfully raised over $75,000 worth of donation pledges to be used toward the protest’s official publication, The Occupy Wall Street Journal, according to the online funding platform Kickstarter.

In addition to overseeing fundraising, members of the Finance Working Group, distinguishable by their gold dollar sign armbands, are also charged with disbursing funds to the other groups within the movement. These groups, which range from more permanent teams like Security and Media, to temporary teams assigned to isolated tasks, become eligible for funding upon approval by the general assembly.

“It’s been chaotic,” Dutro told CNN. “It’s kind of like doing an office job inside of a mosh pit.”

The group is made up of 12 individuals, many of whom have backgrounds in business and finance. As money keeps pouring in, Dutro says, the group is scrambling to find additional qualified people to help with finances.

The team has had its hands full, Dutro explained. “As far as expenses so far, I think we’ve spent between $30,000 and $40,000.”

However, the sudden financial gain has not been without setbacks.

Occupy Wall Street teamed up with the Alliance For Global Justice, a Washington, D.C.-based nonprofit group, to receive tax-deductible donations.

Unfortunately, the initial influx in funding was so large it exceeded the limit the credit card processor, e-onlinedata, had on the AFGJ’s account, freezing it for 48 hours. The result: roughly $144,000 worth of rejected donations, according to AFGJ National Co-Coordinator, Chuck Kaufman.

“The timing could not have been worse,” Kaufman said. The account froze, “just at the time when potential donations spiked.”

But since the account was reactivated late in the day Friday, tax-deductible funding has continued to pour in. After going through the AFGJ, the money is being deposited into Occupy Wall Street’s accounts at the Lower East Side Credit Union and Amalgamated Bank.

These are the Occupy Wall Street protesters

The significance of these sudden increases in bankroll has not been lost on the protesters.

“I think that obviously it’s going to influence what we’re capable of doing, in terms of whether it’s getting the newspaper out more often or supplying enough sleeping bags and blankets for people here,” said Tyler Combelic, a member of the protest’s media group.

Other protest participants have expressed interest in larger long-term goals.

“We are looking for some facilities to help maintain infrastructure,” Dutro said. “We’re in negotiations for getting a storefront close to the site.” In addition, efforts are underway to find a commercial kitchen to feed participants in a more cost-efficient manner, Dutro said.

Managing over $150,000 for all non-media expenses — amid the high-profile protests and even arrests — has placed increased responsibility and leadership in the hands of the Finance Working Group.

Dutro describes the Finance Working Group as a “passive entity.” But the team’s assistance with and potential influence over other groups’ budgets, as well as its powerful impact in shaping the overall process, may place it in a position of leadership that has not yet been seen within the Occupy Wall Street movement.

Currently, Occupy Wall Street groups that need money must communicate with this financial team, which is permitted to give them up to $100 assuming the proper paperwork is provided. However, any funding exceeding $100 must go through a General Assembly vote, which has created what Dutro describes as “a bottleneck.”

In order to expedite this process, the financial team is proposing that budgets be created for every recognized group. The result, Dutro said, would be more efficient and autonomous groups.

On Wednesday night, the first of these budgets was passed through the general assembly, which allocated $2,200 toward purchasing a new generator and $25,000 for the media group’s expenditures, Dutro explained.

He stressed that the finance team was committed to working under the framework set by the Occupy Wall Street movement. “The group itself has been trying to come up with a solution that fits our guiding principles within the protest,” he said.

Original post on money.cnn.com

47 Responses to “Occupy Wall Street Gains Financial Momentum”

  1. ploescolla lanicz says:

    To all my homies n ATL fighting against the police state Occupy < Remember End the Fed > Capitalism not Corporatism. Dont get it twisted

  2. hem cockkouan says:

    I don’t see how anything he said was relevant to the facts that I cited. I wasn’t even talking about Pinochet’s abyssmal human rights record, I was merely talking about Chile’s economic policies.

  3. seerkamous says:

    This guy knows where Obama wants to get this nation to. Listen closely! Have a look at African nations to get a clue. Obama and Washington is leading us into a banana republic.

  4. I’m for the hybrid Capitalist system that’s worked for the last 60 years & oppose the fascist corporatism Repubs now embrace

  5. vidah ober says:

    Simply without argument there can not be a democracy with Elite Corporatism buying our elected officials. No one can dispute it.

  6. shimakolan says:

    Protesters halt operations at some western
    (AP): AP – More than 1,000 Occupy Wall Street protesters blocked cargo trucks a…

  7. New York Times “2011: The Year In Pictures
    From Joplin, Mo., to the Arab Spring to Occupy Wall Street, it was a… http://t.co/2tHUSN08

  8. pichampagd brier says:

    Check this video out — Santorum rips Occupy Wall Street movement via – HE IS FOR THE RICH, HE DON’T CARE

  9. RT “Fascism should more properly be called corporatism because it is the merger of state and corporate power.”

    Benito Mussolini, il Duce

  10. US police have detained eight protesters, who had joined the nationwide anti-corporatism Occupy Wall Street (OWS) movement in the cities of Oakland and Charlotte.

  11. sabe claudry says:

    300 is an American film. 300 was directed by Zack Snyder who is also American.

    PS: If you think American women are ugly, look at Hayley Williams. She is not ugly.

    I am Filipino and most American girls I saw were very beautiful, kind and friendly. Most European women I saw were racist, rude, mean and shallow.

  12. vermandiah marek says:

    How would an independent Scotland have fared during the crash? Given that the liabilities for RBS alone represent 2,500 per cent of Scotland’s economic output, it’s a difficult question for Alex

  13. fiskidovic mad says:

    Will I am not in favor of corporatism. But that is just a facade for its more about growing an entitlement society.

  14. http://www.7s-b.com/
    Arab League observers were summoned to Damascus Central Prison in Syria to witness the mass release of protesters who were arrested for demonstrating against President Bashar al Assad’s regime. Elizabeth Palmer

    America Geraldo Fox Wall Street Lucy Kafanov Occupy Wall Street Manhattan NYC New York protests MSM mainstream media police brutality NYPD arrests Wall Street protests America US movement demo demonstration

  15. asati mori says:

    USA is NOT a democracy.

    The USA is a Constitutional republic – A constitutional republic is a state where the head of state and other officials are elected as representatives of the people and must govern according to existing constitutional law that limits the power over citizens.

    “I pledge allegiance to the flag of the United States of America, and to the Republic for which it stands: one Nation, indivisible, With and Justice for all.”

  16. sorry your of the community has a medical marijuana dispensary and you accept it so we dont give you protection yet thanks for your taxes

  17. venstamass mabecken says:

    Vision & Goals | Forum | The VISION STATEMENT of OCCUPY WALL STREET DOES ((NOT)) BELONG TO ((ONE)) AUTHOR or GROUP! –

  18. sheenestne banung says:

    “The reason and corporatism are commingled as such is because they’re one in the same. With no limits on corporations imposed by the government or through labor actions by the government, corporatism is the de facto government. As evidenced by Ludlow, Colorad; et al.”

  19. – “Seriously. He is a good source of hard info though.”

    No. Hes not. You arent operating from a point where you assess information relevantly, in to reality. You are being completely bamboozled by one of the most effective control-systems that exists on this planet, like I was and still am- but not anymore with Jones. He is playing your emotions like the devils fiddle and you sing on cue. its pretty obvious, if you are dillligent you will see. Follow my advice.

  20. IT”S NOT OWS BUT THE SHADY 99 DECLARATION PPL MT ‘Occupy Wall Street’ announces convention in Philly for July –

  21. dyhdaroft masams says:

    Hahaha! Watching this thing about Occupy London and just got “All day, all week, occupy Wall Street!” stuck in my head

  22. />What is really disturbing to me is the comments. I think it will get worse as the election gets nearer. This looks a lot like the beginnings of Nazi Germany. What is 2013 going to be like for the faithful?

  23. Even in the First World countries, as soon as you stand up to capitalism and corporatism. There will be police brutality.

  24. etch van says:

    Occupy Wall Street has a simple message (which also accommodates multifarious voices): we are the 99% without the big wealth!

  25. ONLY RON PAUL knows the causes of our economic crisis: UNsound money, government bloat & corporatism. END THE FED! FOLLOW THE CONSTITUTION! –

  26. zuscalien furtz says:

    No one should leave being 6 figures in The federal funds this type of and it’s discouraging to young ppl.

  27. tuneiko seidell says:

    So you’re a big fan of corporatism then? You like it when corporations dictate what goes on in your house?

  28. zander says:

    Diners Came Outside Aghast As Protesters And Police Faced Off In Front Of One Of NYCs Favorite Steakhouses Last …

  29. The Letter To the Editor: While Occupy Wall Street and the Buffett tax focus on the top 1 percent, many m… – –

  30. “Fascism should more properly be called Corporatism because it is the merger of state and corporate power”-Benito Mussolini –

  31. Bill Maher has critical message for Occupy Wall Street your help is needed. Strength in numbers to beat Koch $$ –

  32. schutarama says:

    Radio DJ’s in St.Louis beating the hell out of 99%… Way to go WIL 92.3 and KTRS suck up to the Corporatism –

  33. aziegel van eyke says:

    Occupy wall street really was about the control over hoes, poor folks got hood rats, which is cool, but the rich, got hoes, they dope.

  34. The active nihilist does not care for the materialist success of wealth, money, careerism, corporatism; all these things disgust him.

  35. When it’s headed by a dictator it’s called Fascism but it’s only Corporatism as installed by Mussolini, Franco, Pinochet et al.

  36. yolleburgd brang says:

    Occupy Wall Street to Hold One Year Anniversary on Sept 17th: Video Get Off the Couch and Into the Streets:

  37. das blummerlto says:

    How bad is the economy? As of last year, more than half of SU students graduating were still looking for a job

  38. Occupy Wall Street was of obama’s plan from the beginning, is to create political, financial, and social chaos ht … –

  39. Occupy Wall Street We Are the 99% car bumper sticker decal 7″ x 3″: BRAND NEW sticker is made of highest quality…

  40. We don’t have a supply side or a demand side problem. We have a total debt, financial corruption, fraud, war and corpor …

  41. You might be a liberal if you can pitch a tent as an Occupy Wall street person but cant spend a night alone in the woods

  42. the problems we face Corporatism, and Federal Reserve, read up on Thomas Jefferson when it comes to those two problems,

  43. Senator Cruz: “Obama High On Power, Drunk the Kool-Aid”: Susanne Posel Occupy Corporatism January 18, 2013     S… … –

  44. pille fisel says:

    This song is inspired by the Occupy Wall Street Protests – Big thanks to Anonymous for providing the vocals 🙂 …

  45. That Romney would go full Atlas Shrugged on the anniversary of Occupy Wall Street… is this a performance piece? –

  46. DC Comics Releases Series Based on Occupy Wall Street – Just when we thought Occupy Wall Street was over, DC Comics…

  47. morwositzh dell says:

    And I just likened the Puebloan revolts against the Spanish to hipsters and Occupy Wall Street. /drops mic, walks out

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