Day of protest over the bailout

October 3, 2008

Rallies against the bailout drew modest crowds around the country

AS ANGER builds over Congress' attempt to pass a $700 billion bailout for Wall Street, activists in several cities held a day of action to say "No blank check for Wall Street."

Called by Jobs with Justice, and cosponsored by several unions and activist groups around the country, the rallies called for making Wall Street pay for the bailout; an economic recovery plan that includes job creation for ordinary workers; and real foreclosure and bankruptcy reform that protects homeowners and consumers.

In New York City, where the largest rally was held, approximately 300 people turned out in front of the New York Stock Exchange to hear Rev. Jesse Jackson, AFL-CIO President John Sweeney and Roger Toussaint, president of Transport Workers Union Local 100.

"The Bush administration wants us to pay the freight for a Wall Street bailout that does not even begin to address the roots of our crisis," John Sweeney told the crowd, adding, "We want our tax dollars used to provide a hand up for the millions of working people who live on Main Street, and not a handout to a privileged band of overpaid executives."

Protests called by Jobs with Justice against the Wall Street bailout drew out people around the country
Protests called by Jobs with Justice against the Wall Street bailout drew out people around the country (Joe Newman)

People who attended held signs reading "No Blank Checks For Wall Street" and "Our Hard-Earned Pensions Are Not Up For Grabs," and cheered as speakers talked about the importance of a bailout plan that takes into account the needs of ordinary people, not the bank balances of the Wall Street bankers that caused the mortgage crisis and financial meltdown in the first place.

"The bailout is a sellout unless it includes the victims of the tyranny," Rev. Jesse Jackson told reporters after the rally. "The homeowners need long-term, low interest rate loans and the restructuring of loans, not the repossession of homes."

The message was similar in other cities. In Ithaca, N.Y., approximately 60 people turned out. Speakers talked about alternatives to using $700 billion to bail out Wall Street, including providing universal health care, creating new jobs and guaranteed higher education. In Chicago, approximately 40 people came out for a Noon protest at the Federal Reserve Bank, and in Albany, N.Y., 25 people turned out to the Federal Building.

In Providence, R.I., approximately 30 people turned out for a picket at the Federal Building. Demonstrators handed out flyers urging people to call their Congressional representatives to oppose the bailout. Though small, the group included a number of organizers around various issues and from various organizations, including Jobs with Justice, the Rhode Island Mobilizing Committee to Stop the War and End Occupation, the American Friends Service Committee, the International Socialist Organization and more.

Activists are also planning a follow-up protest of House Banking Committee chairperson Rep. Barney Frank (D-Mass.), a major player in the bailout, when he speaks at an upcoming event at Brown University.

Brian Chidester, Josh Karpoff, Jake Kornegay and Héctor Tarrido-Picart contributed to this article.

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