Over the next several months, Virginians will gather and divest (remove the money from and close their accounts) from Wells Fargo, Bank of American and Chase to send the message that we've had enough of the big bank's bad behavior!
Beginning With Wells Fargo on Friday, Residents to Close Accounts in Protest of Bailouts, Illegal Foreclosures and Corporate Money in Politics
CHARLOTTESVILLE- Inspired by the Occupy Wall Street movement, Virginia Organizing (formerly know as Virginia Organizing Project) is kicking off a “We’ve Had Enough and We’re Taking It Back” big bank divestment campaign this Friday at 1:30pm in front of the Wells Fargo bank on the downtown mall.
In the last decade, the big banks have taken too much and given back too little in return. Through their lobbyists and huge campaign donations, they want even more power to take unfair advantage of their customers and communities.
Today is the three-year anniversary of TARP, the $700 billion bank bailout passed at the height of the financial crisis in 2008. Even though no one actually liked TARP, including the Congress who voted for it, it is credited with saving our nation from financial collapse. However, three years after the banks received their bailout, the American people never got theirs. Every day, it becomes clearer that we have not learned from the mistakes of Wall Street and the Big Banks that led to the crisis, especially as Financial Reform legislation continues to be gutted piece by piece.
As you probably know, President Obama will be in Richmond this Friday to talk about his jobs plan. Not to be outdone, Rep. Cantor announced a jobs event for the same day. Virginia Organizing members showed up at Rep. Cantor's campaign event last week to make their voice heard that we need jobs here in Richmond. Rep. Cantor and President Obama need to hear from the unemployed residents who are struggling. If you have something to say to the President or Rep. Cantor, here's your chance:
President Obama's appearance:
Last week House Majority Leader Eric Cantor released a jobs plan memo, which includes very little about actual job creation. The memo focuses on deregulation across the board and includes the destruction of the EPA and the NLRB and ends any regulations that have the nerve to tell big business that it must put the interests of the people before profit.
This is a guest post by Elisabeth Corey. Elisabeth has sixteen years of work experience in Finance and Information Technology with three major corporations. She received her Bachelor’s Degree of Commerce with a concentration in Finance from the University of Virginia and is currently seeking her Master of Social Work from Virginia Commonwealth University. She lives with her four-year-old twins in Bon Air, Virginia.
Today is Labor Day. Officially, unemployment is about 9.1 percent. The real level of unemployment and under employment is probably over 20 percent. Many of those whether unemployed or under employed have been for more than a year.