Tired of bank greed, Missouri protesters say

BOAAction2

ST. LOUIS - "We're tired of corporate America and the CEOs taking all our money," Ashli Bolden said as over 100 people protested inside the Bank of America tower here on March 24.

Bolden, an organizer for the Missouri Progressive Vote Coalition, added, "Corporate bonuses and golden parachutes have got to go. They are the ones that got us into this mess, and now they're using our tax dollars for bonuses!"

Last year Bank of America received $45 billion in federal funding, while its CEO, Kenneth Lewis, received $10 million in bonuses in 2008, 400 times what the average Bank of America teller is paid. Since 2001, Lewis has received over $136 million in pay, bonuses, stock options and pension contributions.

Johnathan McFarland, from the grassroots organization MORE (Missourians Organized for Reform and Empowerment), said, "It's not just about bonuses. Bank of America is aggressively foreclosing on people's homes. All they care about is profit."

As part of the action, protesters set up a tent inside of the Bank of America lobby, demanding to meet with Jack Schakett, BOA's loss mitigation executive. Loss mitigators are supposed to negotiate terms for homeowners to prevent foreclosures.

Protester Richard Monroe fell behind on his mortgage while his wife was fighting cancer. "I've been trying to re-modify my loan for a year," he told protesters.

"And all I want to do is keep my home," he added. "I will pay everything I owe. Just re-modify this loan for me, get it taken care of and then I'll pay everything off when the economy turns around."

Robin Acree, from rural Missouri-based Grass Roots Organizing (GRO), said, "Bank of America is bad for America. They are bad for our economy, bad for business and bad for home owners."

Video from the lively St. Louis rally:

Photo: PW/Tony Pecinovsky

 

Post your comment

Comments are moderated. See guidelines here.

Comments

  • Hay comrades,
    IM in a county where there is 25% unemployment
    I work from 11-7. I make $10 a day. It seems no one cares about the working poor! Please help!!

    Posted by Garon Foxx, 02/15/2011 9:37pm (4 years ago)

  • Great job showing action in the Show-Me state!

    Posted by kd, 03/27/2010 4:01pm (4 years ago)

  • Where one finds righteous protests,against usurious fees,discrimination in lending and hiring,training and redlining,you'll find the united peoples' movement-so it is here in Missouri.
    Part and parcel of this movement,you find the MO/KAN district of the CPUSA.
    Big greed,unearned riches,is what banks like the Bank of America and U.S. Bank count as pelf and people and their organizations protest.
    With the focus in the U.S. Congress on finance reform, peoples'movements here and all over the country will grow and unite for justice and an end to racism in financial practices,affecting all working people and especially people of color.
    Through our Congress,we expect all representatives in MO to support justice in this critical area of financial reform and relief.
    Unity in all neighborhoods for financial relief and fairness in lending and hiring,in line with the Civil Rights Act of 1964, is a good rallying point.
    Here,on the 1964 Civil Rights Act,we cannot ignore the set back at the hands of the Supreme Court,last year,that allowed racist practices continue,affecting equality in the New Haven Fire Department,having implications in St. Louis,in what many activists say was a racist firing of Sherman George in St. Louis.

    Thank you for this article,brother Tony Pecinovsky.

    Posted by E.E.W. Clay, 03/26/2010 3:31pm (4 years ago)

RSS feed for comments on this page | RSS feed for all comments