Counterpunch has an excellent piece up on the New York City police and wall street’s cozy relationship / revolving door.
Especially regarding ‘white shirts’.
And, especially something called the “PDU” – the Paid Detail Unit.
The corporations pay an average of $37 an hour (no medical, no pension benefit, no overtime pay) for a member of the NYPD, with gun, handcuffs and the ability to arrest. The officer is indemnified by the taxpayer, not the corporation.
New York City gets a 10 percent administrative fee on top of the $37 per hour paid to the police. The City’s 2011 budget called for $1,184,000 in Paid Detail fees, meaning private corporations were paying wages of $11.8 million to police participating in the Paid Detail Unit. The program has more than doubled in revenue to the city since 2002.
Read the whole thing here:
It’s an amazing piece. Note also the bio of the author: she worked on wall street for more than 2 decades.