Wall Street Accountable for Economic Crisis

Activists Hold Wall Street Accountable for Economic Crisis

Monday 07 March 2011

by: Mike Ludwig, t r u t h o u t | Report

Activists Hold Wall Street Accountable for Economic Crisis
At the Fairmont Hotel, hundreds of homeowners protest outside the spring meeting of the National Association of Attorneys General in Washington, DC. (Photo: National People’s Action (NPA)) (Photo: National People’s Action (NPA))

Progressive groups threw a one-two punch at the nation’s richest banks on Monday. A coalition of watchdogs and activists released a new report revealing how the wealthiest bailed-out banks have caused the current economic crisis by dodging taxes, and hundreds of demonstrators rallied in Washington, DC, to demand the attorneys general of all 50 states file criminal charges against banks that are suspected of committing foreclosure fraud during the nation’s housing crisis.

At least 600 demonstrators gathered outside the National Association of Attorneys General (NAAG) spring meeting to demand tough settlements on foreclosure fraud cases resulting from a NAAG investigation into several banks’ practice of signing foreclosure documents without checking for accuracy – a practice the NAAG calls “robo-signing.”

The demonstrators – many of them homeowners – also occupied and successfully shut down a Bank of America branch before occupying the offices of Sen. Mitch McConnell (R-Kentucky) and House Speaker John Boehner (R-Ohio). Click here for scenes from the protests.

NAAG launched the investigation in October 2010, but has yet to take action against banks like Bank of America and JP Morgan Chase that were suspected of systematically robo-signing foreclosure documents before the scandal made headlines.

Outside National Association of Attorneys General meeting.

Protesters outside  of the National Association of Attorneys General meeting in Washington, DC. (Photo: National People’s Action (NPA))

Read full article: Activists hold Wall Street accountable

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