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New York’s Citibike, a Two-Wheeled Tank
bloombergbusinessweek, 17.05.12.
Protesters dressed as suited eagles on Barclays cycle hire bikes demonstrate outside the Royal Festival Hall, which is hosting the Barclays bank AGM on 27 April 2012 in London, England. It has been reported that Barclays will apologise to angry share holders over multi-million bonus pay deals for senior management. Protesters also demonstrated outside the annual general meeting of Barclays to complain against their financial speculation on world food prices and to demand a financial transaction tax.
» City Of Berkeley Plans To Pull $300M Out Of Wells Fargo

In what may be the most damaging blow to Big Banks since the overwhelming success of Bank Transfer Day in late 2011, the City of Berkeley recently announced its intention to withdraw all financial assets from Wells Fargo.

On Tuesday night, the City Council voted unanimously to find a more socially-minded institution to hold approximately $300 million in city assets. Council members said that they hoped the decision would send a very strong message to the Big Banks ultimately responsible for the housing crisis that sent the economy spiraling…

As might be expected, the local Wells Fargo branch was shocked and somewhat defensive following the City Council’s announcement.

“Over the past three years, Wells Fargo has donated more than $3 million to 89 nonprofits in Berkeley… And less than two percent of homeowner-occupied loans in our servicing portfolio have proceeded to foreclosure sale,” said Wells Fargo spokesman Ruben Pulido.

While that may be true on a local level, there is no denying the dubious actions of the Wells Fargo corporation:

  • Wells Fargo was a significant player in the subprime crisis. In 2006, the last year before the subprime bubble started to burst, Wells originated or co-issued $74.2 billion worth of subprime loans, making it one of the top subprime lenders in the country.
  • As recently as September 2008, Wells still held $48 billion worth of subprime mortgages in its servicing portfolio, making it the nation’s sixth largest subprime servicer.
  • Despite its large portfolio of at risk mortgages, Wells Fargo has started trial mortgage modifications for only 11% of its 292,515 borrowers who are eligible for the Obama Administration’s Making Home Affordable Program (and are at least 60 days past due). At Wachovia, which Wells Fargo acquired in 2008, the number is even lower, 2% of 74,231 eligible borrowers.
  • Wells Fargo put taxpayers on the hook for up to $36.9 billion in bailout funds and programs plus an unknown amount from the Federal Reserve’s $8 trillion in emergency programs. This money was supposed to help the banks get the economy going again. But little of this money has gone to relieve struggling homeowners and increase the flow of credit to small businesses (bullet points sourced via SEIU).

In my opinion, the City of Berkeley is to be applauded for its decision to take bold action against the Big Banks, many of which have yet to face any significant consequences for their negligent and often illegal actions. Let the politicians form their task forces and sub committees. In the mean time, intelligent citizens like those on the Berkeley City Council will continue to take action in the most powerful manner possible: voting with their dollars.

care2, 02.02.12.

Go Berkeley!

the nice little neighborhood Wells Fargo branch that I used to go down to with my mom in the Elmwood.

Occupy Oakland x Bank Transfer Day, 05.11.11.

» Occupy San Diego Riders Bike Raid — fri. 09.dec

OSDR Weekly Friday Bike Raid! Meet at 11:30 AM @ the Balboa Park Fountain. We will leave at noon. We will protest banks and big business. We will head to various banks in Hillcrest, North Park, etc. Then head to Mission Valley to protest big business and bloated consumerism. At Mission/Fashion Valley Malls. Bring signs and anything for visibility. And of course positive vibes. Occupyyrcorner has awesome signs you can print out.

occupy san diego bike riders

» Occupy Our Homes National Day of Action: dec.06th

Defremery Park, 16th & Adeline St. (Map)
West Oakland, CA 94607 
Tuesday, December 6th, 12:00 PM

Big Banks tried to kick a 103-year-old woman out of her home—that’s how low Wall Street will go to make a buck.

But decent people understand that you just don’t do that, and the police officers and movers Deutsche Bank sent to evict 103-year-old Vita Lee and her 84-year-old daughter form their home refused to do it.1

Vita remains in her home for now, but more are being evicted and foreclosed upon every day. The 1% is to blame for the housing crisis, but it’s the 99% who are losing our homes.

But more and more families and communities are fighting back. We’re joining with allies and the Occupy movement for a critical campaign: the liberation of vacant bank-owned homes for those in need, and the defense of families under threat of foreclosure and eviction. We’ll kick it off on December 6 by rallying with homeowners facing foreclosure at their homes, courthouses, and city centers to demand the banks halt the foreclosures they profit from and modify loans.

Thousands of families are facing the holiday season without a place to call home, even though there are so many foreclosed homes sitting vacant. With this day of action, we’ll rally together and kick off a campaign to take back our homes and our power—demonstrating to the banks that we won’t sit back and let them put these families on the streets. 

Click here to stand with the 99% on December 6 for a national day of action to kick off a campaign based on the simple premise the banks caused the economic crisis, and it’s their responsibility to fix it. And until they fix the problems they created, we’re not giving up our homes.

Let’s take back our country, one home at a time.


occupy sd bike riders.
aha.. I think these might have been the guys I saw cycling a block ahead of me on Friday east on University Ave. a group of riders! of course I wanna join! but was headed to downtown so had to turn right :/
also read: Occupy San Diego Riders: Cavalry Arm of Occupation. sdreader, 29.11.11.

Transfer your funds out of large commercial banks to a credit union
on the fifth of november. (or earlier!)

Closed my Bank of America account a few days ago!
» What I tell people when they ask my why I go to the protests.
  1. I remind them of the world financial collapse that took place in 2008. And that it was caused by intentional fraud on many layers of the banking system aided and abetted by the government.

  2. I point out that the ex head of Goldman Sachs was the treasury secretary when it happened.

  3. I point out that the current treasury secretary was the head of the NY fed when the fraud collapsed.

  4. I point out that the bankers were bailed out by their cronies. I point out that the money came from taxpayers.

  5. I then point out that the same bankers involved in the fraud and collapse then gave themselves huge bonuses. And the same banks are withholding credit from small businesses.

  6. I then point out that GE paid no taxes, is sitting on 80 billion dollars and is a big friend of the current president. They obviously don’t need a tax cut to raise revenue to create jobs.

  7. I then point out that we are fighting wars and borrowing from china to pay for them. Rather than raise taxes.

  8. I then point out that the government is now asking the middle class and the working class to suffer all of the financial pain (no new taxes for the rich) thus robbing them twice. Once with the bailout and also with cuts to pell grants and other programs that aid the middle class.

  9. I then point out that this is exactly the problem and they should join in rather than listen to the MSM [?] which is owned by the very criminals who rob us blind and get bonuses for it.

reddit, 16.10.11.

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