President Obama’s ACORN/SEIU bussed in 100s of union protesters from across the country to stage 2 days’ worth of media events outside of the 2009 American Bankers Association meeting in Chicago.
SEIU leaders Andy Stern and Thomas Balanoff (DSA member) joined with Jesse Jackson and others, demanding that members of the American Bankers Association stop using taxpayer bailout funds to lobby against Progressive banking “reforms.”
From the SEIU website:
Chicago, IL–In the largest taxpayer mobilization since the economic crisis began, thousands of Americans from 20 cities will converge on the American Bankers Association (ABA) conference in Chicago from October 25 to 27 to demand banks stop spending millions in taxpayer dollars to lobby against reforms that would protect Americans from the next economic crisis.
Below are some clips which have been posted to YouTube.
Something to keep in mind while watching these clips: SEIU is in debt to some of these very same bankers to the tune of more than $100 million, creating the appearance of a potential conflict of interests.
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These protesters are being bussed in (carbon footprint??) from as far away as North Carolina, and are organized by the ACORN’s red shirt brigade.
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Here is Andy Stern revving up the crowd before marching on the gathering of bankers.
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Here the angry mob (at least by Pelosi standards) takes over the Wells Fargo lobby.
It’s odd to see the ACORN/SEIU Pitchfork Brigade protesting the very banks they at one time helped usher into the sub-prime market, with the help of Uncle Sam.
From a 2000 report published by Fannie Mae, highlighting successful case studies of banks and community groups reaching the sub-prime market:
As of 1998, the nation’s largest originator and second-largest servicer of residential mortgages. Vertically integrated mortgage subsidiary of Wells Fargo & Company
The nation’s top mortgage originator to minorities and LMI consumers. Offers integrated initiatives to reach underserved populations and neighborhoods.
Also from the same report, praise for ACORN and Wells Fargo subsidiary Norwest:
Nonprofit-facilitated instruction
(often with lender partnership)BofA partners in counseling with National Council of La Raza and other community groups. People’s refers home seekers to the counseling services offered by ACORN (Association of Community Organizations for Reform Now)
Telecounseling
Potential borrowers can work with a counselor from the Norwest Mortgage HomeBuyers Club via telephone and mail contact. Countrywide’s HACC provides centralized homeownership counseling via a toll-free number.
Perhaps ACORN and SEIU just want a closer and more profitable relationship with Wells Fargo, but can you really blame Wells Fargo for wanting nothing to do with ACORN and their friends?
The larger issue here is that ACORN and SEIU, aided by the government, coerced banks into making risky loans by threatening bad PR in the form of embarrassing marches and campaigns accusing them of greed and racism. Now that the money has run out, ACORN and SEIU are protesting anyway, calling them greedy racists. You can’t win for losing!
The potential irony here is if ACORN is using government money to lobby on behalf of Progressive reforms by organizing these marches. What exactly would be the difference between that and what ACORN claims to be outraged about?
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