Occupy Wall Street Moves To Paulson's House

Oct 11 2011 | 2:47pm ET

John Paulson has some unwelcome visitors at his Upper East Side home.

The protestors who have crowded New York's financial district for weeks made their way north today on a tour of the homes of some of the city's billionaires, including the Paulson & Co. founder. The NYC Billionaires Walking Tour, sponsored by Occupy Wall Street, began at 12:30 with plans to visit the city homes of JPMorgan Chase CEO Jamie Dimon and News Corp. CEO Rupert Murdoch.

"Wanna 'see how the 1% lives'?" the organization's Facebook invitation reads. "Then join us on a walking tour of the homes of some of the bank and corporate executives that don't pay taxes, cut jobs, engaged in mortgage fraud, tanked our economy… all while giving themselves record-setting bonuses!"

As they walked through the streets of the Upper East Side, the protectors chanted, "We are the 99%" and "Banks got bailed out, we got sold out."

The march was sparked by the impending lapse of New York state's 2% millionaire tax. About 450 people took part.

The march coincided with an endorsement, of sorts, from hedge fund manager James Chanos for the OWS protests.

"New York is so finance-centric that people here underappreciate the reaction of the rest of the country," the Kynikos Associates chief told Bloomberg News, warning that it would be a mistake to underestimate OWS.

"People are angry, they feel the game is rigged, that they didn't get a fair shake."


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...