On Wednesday May 9, more than 1,500 people from a broad coalition of workers, seniors, families fighting foreclosure, students, the unemployed, environmentalists and more—will converge in Charlotte, the Wall Street of the South—to protest Bank of America’s annual shareholder meeting.
The 99% Power Coalition is coming to BofA to demand:
- Pay its fair share. Stop draining government of revenue. Pay the statutorily required 35 percent corporate income tax instead of gaming the system through off-shore tax shelters, loopholes and scams.
- Stabilize the housing market and revitalize the economy. Reduce principal for all underwater homeowners to current market value. This would end the foreclosure crisis, reset the housing market, pump billions of dollars back into the economy and create 1 million jobs a year.
- Fund the future—not dirty coal. Stop financing for the coal industry and shift the balance of energy financing to support renewable power generation that is less threatening to our environment and health.
- Invest in American jobs. Invest in small businesses, the main source of jobs in the U.S.
This mass mobilization comes on the heels of a string of Bank of America scandals, including the consumer uprising against debit card fees, and settlements for robo-signing and predatory lending practices. BofA is continuing this abominable record by considering new checking account fees to make even more money off the 99%. Meanwhile the foreclosure crisis they helped cause is deepening as is the environmental crisis they contribute to by being the #1 investor in the coal industry. Also on May 8, 99% Power will have actions at BofA offices across the country, including Boston, New York, Detroit, Chicago and Providence.
99% Power protests are targeting corporations including Bank of America, Wells Fargo, GE, Verizon, Sallie Mae, Wal-Mart, and Verizon—directly challenging the 1% board members and executives whose actions have expanded inequality, threatened democracy, destroyed the environment, and driven countless Americans from their homes. This spring represents the largest mobilization on shareholder meetings in U.S. history.
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