9.24 Bank of America Quarantine

Friday, October 30, 2009
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On September 24, activists from Jobs With Justice, Mass Alliance Against Predatory Lending, SEIU, City Life/Vida Urbana and community allies put themselves at great risk of exposure to “Greedy Pig Flu” to send a message to Bank of America: “We’re sick of your toxic lending practices in our communities!”

 

Symptoms of the Bank of America Greedy Pig Flu include:

  • Receiving a $45 billion bailout from the government, and then giving CEO Ken Lewis a $24 million bonus for his hard work bankrupting the company;

  • Awarding huge bonuses to Lewis and other executives while planning to lay-off 35,000 workers due to difficult economic circumstances;

  • Convincing the government to back more than $300 billion in troubled assets but refusing to lend to customers so the funds can instead be used to raise their capital ratio for profit;

  • Foreclosing on over 700 households in Boston alone in the past 6 months;

  • Mistreating employees, fighting their attempts to form unions, and contributing millions of dollars from the bailout to kill the Employee Free Choice Act.

Bank of America? More like Bankrupting America.

 

 

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