Lisa Simpson
Apr 29,2010
In: Finance

Colorado Residents Throwing a Challenge at Wall Street

Colorado residents throwing a challenge at Wall Street.

The residents of Colorado are throwing a challenge at Wall Street. They are tired of being steamrolled by Wall Street and are giving expression to their feelings by bringing out into the open the greed and irresponsible behaviour of Wall Street that jeopardized the lives of those on Main Street – being subjected to the fury of unemployment, foreclosures and succumbing to bankruptcy.
From 2007 to 2008 over 50,000 people of Colorado lost their jobs. Across the nation the loss was 8 million. There are entire localities cursed with foreclosure and the state is on the verge of bankruptcy.

Ironically the six mega banks of Wall Street – J.P. Morgan Chase, Citigroup, Wells Fargo, Goldman Sachs, Bank of America and Morgan Stanley gave as pay and bonuses $160 million to those very big brasses whose lust for money and reckless behaviour led to the Great Recession. These six financial entities together spent $6.9 million on lobbying only during the first quarter of this year. Coloradans feel it is time to draw the line.
Demonstrations will be held by members of Working America outside the office of Wells Fargo in Denver. The message sent to it will read “I am not your ATM!” Pictures will be taken of customers who are willing in front of the ATMs, handwritten letters will be collected and messages recorded about the need for financial reform. Over a thousand of these items (photographs, letters and recorded messages) from Colorado and other parts of the country would be handed over to the mega banks during the week and also during the meeting of shareholders. They well see, hear and read first hand recordings of the anger of Main Street. Some will be put on the Internet for all to see across the world enabling mass participation in community activity.
The fetid toxicity from Wall Street is poisoning the people of Main Street. Another group, Coloradans for Financial Reform will wrap a yellow coloured caution tape around Wells Fargo building while demonstrations will carry the message, “Toxic Wall Street banks are poisoning Main Street.”

The leaders will talk about the current financial reform bill being introduced in the Senate, the travails of ordinary folks trying to find jobs in the gloomy economic climate, the foreclosures evicting families and the various other loans (education, student) that are crushing Joe. All these loans have been unfair traps.