And Jimmy Weinstein told me years ago about the (unnamed--- maybe apocryphal) party member in whose name the party stockmarket investments were held... who left in 1956 (with 'his' investments)./m ps. the blacklisted party member who did well in the market may have been Lionel Stander--- cf Buhle's wonderful 'Tender Comrades' about leftists in Hollywood. You can read about Frank Sinatra and 'Capital'.
At 16:26 10/12/2004, you wrote:
Devine, James wrote:
BTW, I've been told that a lot of folks who left the CPUSA and other leftist parties (or were purged from labor unions) in the 1940s and 1950s went to Wall Street and applied Marxian political economy to play the market. I don't know if that's true or not, but part of the story is some got rich that way. (As far as I can tell, Marxian theory can't be used for that purpose, but what the heck.)
If this rumor is true, I'd like to know.
Victor Navasky once told me about a friend of his who did exactly this - blacklisted for being a Party member, he went to Wall Street and made a ton of money. He required his clients to contribute some percentage of the profits to political causes he suggested.
Doug
Michael A. Lebowitz Professor Emeritus Economics Department Simon Fraser University Burnaby, B.C., Canada V5A 1S6
Currently based in Venezuela. Can be reached at Residencias Anauco Suites Departamento 601 Parque Central, Zona Postal 1010, Oficina 1 Caracas, Venezuela (58-212) 573-4111 fax: (58-212) 573-7724
