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Saturday Walnut Creek Protesters Focus Ire on Big Banks

Demonstration on sidewalk in front of Chase bank includes Oakland woman who says she faces foreclosure by that bank.

 

A hundred protesters focused on banks, bailouts and foreclosures in a Saturday Walnut Creek demonstration at a different location: South Main Street and Newell Avenue.

This one, in contrast to the series of Wednesday protests in Walnut Creek, was organized by the Central Contra Costa Council of Moveon.org to proclaim disenchantment with large banks. It was held on the sidewalk in front of Chase bank. MoveOn.org is a national organization whose motto is "democracy in action."

One of those on the sidewalk in front of Chase bank was an Oakland woman facing a Chase foreclosure. "I've been fighting with the bank for two-and-a-half years to save my home," said Brenda Reed, who said the bank has plans to sell her foreclosed Rockridge district home shortly before Christmas.

Reed said she has been organizing protests against harsh disclosure procedures since January under the auspices of the Alliance of Californians for Community Empowerment, so it was a natural to come out for Move On and Occupy demonstrations.

Reed, who works as a federal mediator in employment discrimination cases, said she runs a bed and breakfast in the house. She refinanced in 2007.

"My loan has been securitized, diced and sliced God knows how many times," Reed said. Not long after she said that, fellow protesters chanted, "The banks love your money — not you."

Standing alongside Reed, John Frangolis of Walnut Creek said 6.37 million homes in the country face foreclosure. Banks, he said, need to be more responsive to the needs of communities.

The protest was part of MoveOn's Make Wall Street Pay Action around the country Nov. 5. Its aim was to point out that the rich are getting richer while the middle class and poor are struggling. "Meanwhile, Wall Street and the top 1 percent are getting record bonuses, earning record profits and still refusing to pay their fair share," the MoveOn website stated. 

The viral movement developed in response to announcements by Chase, Bank of America and Wells Fargo that each bank had either instituted pilot programs charging debit card users a fee or had announced plans to charge such a fee. In recent weeks, all three major banks withdrew those plans after public backlash over the proposed fees.

Protesters passed out fliers giving people local bank and credit union alternatives to Wall Street-based banks.

"There's a lot of power in people gathering together, like (in opposition of) the debit card fees, and I wanted to be a part of that," said Carol Christopher of Pleasant Hill. Christopher said she pulled her money out of her Chase bank account prior to today's protests.

A sampling of protest signs:

  • I am the 99 percent, I can't afford a lobbyist.
  • Banks got bailed out, we got sold out
  • It's easier to rob a man with a pen than with a gun — Woody Guthrie.
  • Bad Chase; Spank the banks, Join a credit union.
  • Losing your house and job ain't no tea party.


Ellen Beans of Moraga carried a sign that read, "Heal America, tax Wall Street."

"It's an important time for people to speak out," said Beans. "The corporations have had enormous power. The Congress and both parties are totally ineffectual."

Beans said she felt part of the "silent majority" that needs to speak out about inequities in response to the high visibility activism of the tea party movement. "If the majority does not speak, power goes to a vocal minority," she said.

"I am fed up with the growing inequality in our country and how big money is running our government,"said Sheilah Fish of Moraga, an organizer with Central Contra Costa MoveOn. "I don't think we have a true democracy like we had 40 years ago."

It was a busy day of protesting around Contra Costa County, including Concord and San Ramon. Meanwhile, the tale of an Oakland store owner wielding a shotgun to deter would-be looters was making the rounds of the national media.

Bay City News Service contributed to this report

Related Topics: Chase Bank, Foreclosure, Occupy Walnut Creek, and moveon.org

AmyWC

8:24 pm on Saturday, November 5, 2011

Gee, I don't want to seem unwelcoming, but don't they have banks in Moraga? I'm not quite sure why she needs to come to Walnut Creek to protest. Walnut Creek seems to be taking the heat here (reference Michael Moore's comments in Oakland), when towns like Moraga have median incomes well over $100k, and plenty of their own banks.

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Triple Canopy

9:51 pm on Saturday, November 5, 2011

Foreclosure?..... Well let's see, how about paying your mortgage? I'm sure that greedy bank put a gun to your head and forced you to sign those loan papers. Or were you told that you would be able to flip the house in a few years and MAKE BIG BUCKS? Look in the mirror at who may have been greedy.

In terms of "equality", the reality is that there will ALWAYS be someone at the bottom of the ladder. If income is equalized, there is no incentive to work harder, work smarter, or compete. That equals social immobility and social stagnation. Is that what these people want?

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Elisabeth

3:28 am on Sunday, November 6, 2011

Of course there is still an incentive to work, but one based on personal accomplishment and contributing to society, instead of one based on beating someone else and sticking it to the little guy. Welcome to the 21st century.

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Kevin

8:40 am on Sunday, November 6, 2011

It is about time that the Republicans and TEA Party of Walnut Creek be confronted with the avarice and as accomplices with the systemic corruption in government they have created. Walnut Creek, may I formally introduce you to Occupy Wall Street. The time for change has come; accept it!

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AmyWC

9:48 am on Sunday, November 6, 2011

LOL, yes because we're all Republicans in Walnut Creek, and only Republicans were responsible for all this mess. hahahahaha! Good one.

Milan Moravec

10:51 am on Sunday, November 6, 2011

Democrats and Republicans. Every qualified California student should get a place in University of California(UC) system. That's a desirable goal for a public university. However, UC Berkeley Chancellor Robert Birgeneau displaces Californians qualified for education at Cal. with $50,600 tuition Foreigners.
Paying more is not a better education. UC tuition increases exceed the national average rate of increase. The UC Board Of Regents jeopardizes Californians attending higher education by making UC the most expensive public university.
Self-serving tuition increases are used by UC President Mark Yudof to increase the pay of 80,000 eligible faculty & others. Payoffs like these point to higher operating costs and still higher tuition for Californians. Instate tuition consumes 14% of Ca. Median Family Income! UC is hijacking our kids’ futures: student debt.
I agree that faculty in higher education and senior management, like Yudof and Birgeneau, should consider the students' welfare & put it high on their values.
Deeds unfortunately do not bear out the students' welfare values of campus senior managements and the UC Board of Regents.
Opinions to UC Board of Regents, email marsha.kelman@ucop.edu

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