Demanding a real investigation of reckless Wall St. banks

Local Residents Hold Protest at Bank of America; Mark Anniversary of Citizens United Decision and Demand President Obama Stand Up to the Big Banks and Order a Federal Investigation

On Thursday, January 19, over 40 supporters of Penn Action and MoveOn.org rallied at the Bank of America in Newtown, PA to mark the one year anniversary of the Citizens United decision and demand that President Obama hold the big banks accountable for the foreclosure crisis by ordering a federal investigation opposing a sweetheart deal that would give them immunity from investigation.

Dozens of Bucks County residents held signs reminding passers by that “Corporations are Not People,” asking for the end of “Corporate Welfare” and demanding an investigation of the financial sector’s role in the country’s foreclosure crisis.  “Corporations are not people.  Corporations have used their status as people to use the amendments from the Bill of Rights to pursue their own selfish interests and this has got to stop,” said Bob Mason ofLevittown.  The event was part of a national day of action called “Yes He Can” taking place across the country at Obama for America (OFA) campaign offices in all 50 states and at local offices of some of the biggest banks. Participants called on President Obama to stand strong with the 99% and make sure the big banks are held accountable.

Sally Witt, coordinator of the Bucks County Move On council shared her personal story of foreclosure.  “Foreclosure, like losing your job, has an emotional impact as well as an economic one.  It’s not easy to get over.”

“Millions of American jobs and homes have been lost, but the president has yet to hold the banks accountable for the fraudulent foreclosure practices that nearly torpedoed the economy,” said Robin Stelly, organizer with Penn Action. “President Obama has the power to order a federal investigation and start the year with a real win for the 99% movement. It’s far past time to hold the big banks responsible for the havoc they wreaked on homeowners and the economy.  The one year anniversary of Citizens United decision, which allows corporations like Bank of America to pour unlimited resources into federal elections, is the perfect time to raise these issues again.”
The rally comes after the State Attorneys General have temporarily blocked a sweetheart deal that would have given broad immunity to the banks for their role in the housing crisis.  The president now has the power to decide whether or not to move forward with a full federal investigation that would finally hold the banks accountable.
Advertisements
This entry was published on January 19, 2012 at 2:45 am and is filed under Federal Budget, MoveOn Council of Bucks County. Bookmark the permalink. Follow any comments here with the RSS feed for this post.

One thought on “Demanding a real investigation of reckless Wall St. banks

  1. Pingback: It’s not about envy the the 99 percent, but greed by the 1 percent | Penn Action: At Issue

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: