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October2011.org Protests Foreclosures at Wells Fargo Urges End to Foreclosure and Support for Affordable Housing


Washington, DC:–(ENEWSPF)–October 13, 2011.  Occupiers of October2011.org will be leaving Freedom Plaza at 11:00 AM to go to the Wells Fargo Bank at 9th And Pennsylvania Ave., NW  to protest the foreclosure practices of Wells Fargo.
 
“We are seeking an end to foreclosures, which are putting Americans out of their homes and dragging down the economy,” said Rev. Bruce Wright of October2011.org and a board member of the national Poor Peoples Economic Human Rights Campaign.  “Wells Fargo also needs to provide loans for affordable housing for working Americans. Wells Fargo was bailed out by the taxpayer and needs to act in the public interest.”  Wright plans to burn his Wells Fargo checking account at the bank.
 
Kevin Zeese, another organizer of October2011.org and co-director of It’s Our Economy added “More than 28% of homes in the United States are underwater — with mortgages larger than the value of their homes. Banks need to refinance mortgages to reflect the real value of homes.  The banking industry created a massive housing bubble which they are still profiting from.  It is time for the government to require them to reduce mortgages to reflect the real value of homes and extend mortgages or take other action to ensure people can stay in their homes.  Between the Treasury Department and the Federal Reserve big banks received more than $16 trillion in financial assistance that comes from the U.S. taxpayer either directly or in a de-valued dollar.  The banks should be required to act in the public interest, since the public was forced to save them from their casino gambling which they call investing. Failure to act on mortgages will continue to ensure the collapse of the economy.”

Source: www.october2011.org



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