Saturday, October 8, 2011

The NYPD, now sponsored by Wall Street

Occupy Wall Street

Friday, Oct 7, 2011 1:02 PM EDT

The NYPD, now sponsored by Wall Street

Financial firms have given millions of dollars to the department, raising the ire of Occupy Wall St. protesters

NYPD Wall St

(Credit: AP/Shannon Stapleton/Salon)

“NYPD! NYPD! JP Morgan doesn’t give a f*ck about you!”

That was the chant of a crowd of protesters during one of the tenser moments Wednesday evening as police tried to corral the occupiers of Wall Street and force them to stay in the confines of Liberty Square. It is a reference to one of the rumors I’ve heard again and again at the protests: That JPMorgan Chase gave a multi-million dollar donation to the NYPD as the protests were starting in mid-September as a kind of incentive for the police to aggressively crack down on the occupiers.

As it turns out, that version of the rumor isn’t quite correct. But Wall Street finance firms have funnelled millions of dollars into the police department, in an arrangement that critics say compromises the NYPD.

Here’s what we know:

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Justin Elliott

Justin Elliott is a Salon reporter. Reach him by email at jelliott@salon.com and follow him on Twitter @ElliottJustin More Justin Elliott

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