Thursday, May 12, 2011

PROTEST AT BANK OF AMERICA

Bank of America is GUILTY
Sentence will be delivered May 14
Rally – Saturday, May 14
Copley Sq. – 10 am
Protest at Bank of America branch
Demand that Wall St. banks:
vReduce Principal owed
vStop post foreclosure evictions
Deliver sentence to Bank of America
 
Sponsored by Bank Tenant Association formations at 8 sites in Massachussetts and Rhode Island –
City Life Bank Tenants Association, meeting in JP
City Life Northside Bank Tenants Assoc., meeting in E. Boston
Chelsea Collaborative City-wide tenants association
Lynn United for Change
Merrimack Valley Project
Worcester Anti-Foreclosure Team
Springfield No One Leaves Campaign
Direct Action for Rights and Equality (DARE - Providence)
 
For more information: City Life contacts
            Melonie Griffiths 617-524-3541 x315 – cell: 857-203-2580
            Steve Meacham 617-524-3541 x310 – cell: 617-909-6182
            Dominic Desiata cell: 857-203-2393
Bank tenants dealing with Bank of America will testify at rally.  Interviews available upon request.
 
Background: We have been fighting for these demands for 4 years:
v     Stop post-foreclosure no-fault evictions.  Wall St. Banks received billions in bailouts.  Why should these same banks evict families in foreclosed buildings who are willing to pay rent?  This causes homelessness, disrupts neighborhoods, and drives down values.
v     Reduce principal to current real value as part of loan modifications or after foreclosure sell back to occupants at current real value.  Millions of homeowners who can’t afford their mortgages at the bubble price of their loan can afford a mortgage at the real value of their home.  Banks can get a percentage of equity appreciation that would be more profitable than foreclosure.  Wall St. Banks produced the bubble.  They are responsible when it burst. 
Principal reduction is now being debated at a national level.  The 50 Attorneys General asked for principal reduction in order to settle their law suit against the major banks.  The Banks are resisting this call.  Bank of America rejected principal reduction and has been urging Attorneys General to back off the demand.
V2 Cigs electronic cigarettes