home » connecting » events & gatherings » Wall Street Money Drop

Wall Street Money Drop

Some of us have worked on Wall Street and some of us have slept on Wall Street. We are a community of struggle. Some of us are rich people trying to escape our loneliness. Some of us are poor folks trying to escape the cold. Some of us are addicted to drugs and others are addicted to money. We are a broken people who need each other and God… for we have come to recognize the mess that we have created of our world and how deeply we suffer from that mess—now we are working together to give birth to a society within the shell of the old.

The money for this Jubilee Celebration was formerly invested in the Stock Market.
Over $10,000 has been set free, poured out—
To be shared with our sisters and brothers in need.
This money belongs to the the poor, the workers, the refugees, the homeless…
to all those who have suffered most from the wreckage of the current system.
May we return it with joy, with our heads bowed in repentance,
And with our hearts lifted in Jubilee. The Mess We’ve Created

Press release to Indymedia (Philly & NYC)

At approximately 8.27AM Monday morning (October 21, 2002) on the steps in front of the statue of our first president taking his oath of office, a man dressed in black, holding a megaphone, stepped out. He proclaimed news of another way of doing life, in stark contrast to the example shown on Wall St. As he proclaimed, “Let the Celebration begin!”, a Shofar, or ram’s horn, was blown, ushering in the ancient Torah tradition of Jubilee. Seemingly out of nowhere, bills began to fall and three banners were unfurled reading: “Love.” “Stop Terrorism… Share” and quoting the forefather of the nonviolence and alternative economics movements, Gandhi, “There is enough for everyone’s NEED, but not enough for everyone’s GREED”. At the same time, about two-dozen pedestrians emptied their pockets and bags of thousands of dollars of coins. Both homeless and professionals alike scrambled for nickels, dimes and quarters while others stood back and watched astonished that thousands of dollars were littering the corners of Broad and Wall Streets.

Soon songs broke out amongst shouts of celebration and posters began to appear, echoing the statements of the banners. The source of the money was hard to pin down, from the briefcases of business folks to the handbags of older women to the thermoses of sporty tourists and the shoulder bags of bike messengers, all types of people from different walks of life joined in the redistribution. The entire street between corners was filled with coins and bills. As one area would clear up, another load was dropped somewhere else. People walked away with bulging pockets, listening to the intermittent jingle of change.

Even before the event, homeless individuals began exercising their first amendment right to assemble. This increased presence of the homeless garnered the attention of security and police officers. The police approached the homeless and ordered them to move on, stating the event was, “a hoax” and “probably illegal”. Many homeless had flyers that they showed the police. The yellow flyers stated that there was a court victory over the unlawful arrests of homeless people in New York City during then-mayor Giuliani’s crackdown on the homeless population. Ten thousand was won in that settlement and the flyers contained a dollar from that lawsuit. The police held another flyer, leaked before the event, that said the currency to be redistributed was donated money that had been invested in the Stock Exchange. Early Monday morning teams carrying hundreds in two-dollar bills stashed them in the area around lower Manhattan. This redistribution was meant for everyone.

After the initial money drop, the police called for backup and formed a line that confronted the merry-makers, pushing them east down Wall St., away from the Stock Exchange. One organizer was arrested and taken to the 1st police precinct. He was not charged and released in a matter of minutes. Songs and chants, bubbles and flyers filled the air as a curious Wall St looked on. With increasing pressure from the police, organizers decided to stage the second wave of redistribution of change at a different entrance of the Stock Exchange. With a cry of, “Let the celebration continue!” hundreds more in change stopped traders from entering the building until after they picked up a pocketful. The beauty was in the secrecy. No one could distinguish who was dropping the money, or who was in charge. As the money was dropped, all participated in gathering up the change. One man remarked to passer’s by that he could now “get his prescription filled.”

With the message of sharing and liberation on their lips, organizers decided to declare a victory of Jubilee and leave the area. Many people voiced their support as people entered the subway and side streets. One woman was so overcome, that she bought a bag of bagels and started handing them out to whoever was hungry.

In all, the organizers were happy with the outcome. “The thought of ten thousand dollars with ‘LOVE.’ written on them circulating throughout New York City is exciting to me,” one organizer claimed. Many people were overcome by the amount of sharing and the proclamation of a different way of life. It truly was a contrast to the way in which those on Wall St. act and behave. “Building a new society in the shell of the old.”

Video by Jamie Moffett