actionnow.org

Action Now, along with thousands of others from labor and community organizations, marched and rallied at The Sheraton Hotel in Chicago where The American Bankers Association Conference was being held. Why? Well the same financial institutions that drove a record foreclosure crisis, sent our economy into a deep recession, and took billions upon billions in taxpayer bailouts are refusing to work with homeowners to prevent foreclosures and establish affordable loan modifications. Banks are also using their bailout money to lobby politicians and stop any foreclosure prevention or financial reform legislation from passing. They shouldn’t be using our tax dollars to force us out of our own homes!

Let’s compare how ordinary working Americans are doing to how banks are doing in this recession:

• The American people have lost 7.6 million jobs and trillions of dollars in retirement savings.

• There have been 2 million foreclosures this year alone. Every 13 seconds there is another foreclosure filing.

• Wall Street bankers have taken $17.8 trillion of our tax dollars through bailouts and turned them into massive bonuses for themselves. Goldman Sachs alone is expected to pay more than $23 billion just in bonuses this year; that's more than $43,000 a minute, every minute.

• The nation's four largest banks are back to raking in billions in profits. Here are the numbers through the first three quarters of 2009: Wells Fargo - $8.8 billion; JP Morgan Chase - $8.4 billion; Bank of America - $6.4 billion; Citigroup - $6 billion  

Foreclosure has had such a devastating impact on our communities. Banks who created the housing crisis by selling unfair subprime predatory loans are now making huge profits and getting massive bonuses. There have been no consequences for them because no one is holding banks accountable … except for us! We can’t let banks destroy our families, our communities, and our economy and then profit from it! Enough is Enough!

For news coverage of the rally at the American Bankers Association Conference, click below:

Action Now member Bonita Williamson interviewed in "Rally Held Outside Bankers Convention"

  Action Now member Bonita Williamson interviewed again in "Protests Aimed at Bankers' Convention"

  Action Now Executive Director Denise Dixon quoted in "5,000 Converge On American Bankers Association Conference"

Watch Denise Dixon's Full Speech Here

  "Bank Protesters Converge Downtown"

"Bank Protesters Descend on Downtown Chicago"

"Protesters Call For Banking Reform"

  "Demonstrators Protest at Chicago Banker's Meeting"

  "Showdown in Chicago"

NBC Nightly News: "Banks In Race Against Time On Rate Hikes

·                                          

Comments

Name *
Email (For verification & Replies)
URL
Code   
ChronoComments by Joomla Professional Solutions

Submit Comment