[Street] Fwd: Action at B of A - 100 Federal St. - Tues Jan. 17 9:30 am

Kevin Maley kevinmaley at gmail.com
Sat Jan 14 14:47:56 EST 2012


Any pressure we can put on the banks is a great action in my book! I'll be
at work but encourage everyone who can go to attend

On Sat, Jan 14, 2012 at 2:34 PM, Katie Gradowski
<katie.gradowski at gmail.com>wrote:

> Hey Banking Work Group!    Want an action?
>
> This one looks like fun :)   It's NEXT TUESDAY, 9 a.m., same day as the
> auction protest.   We can make it a two-fer.
>
> Thoughts?
>
> ---------- Forwarded message ----------
> From: Steve Meacham <smeacham at clvu.org>
> Date: Sat, Jan 14, 2012 at 12:55 PM
> Subject: Action at B of A - 100 Federal St. - Tues Jan. 17 9:30 am
> To: Steve Meacham <smeacham at clvu.org>
>
>
> “Workout Counselors can fix this corruption!
>
> Give them the tools for Principal Reduction!”
>
> Protest at Bank of America
>
> Tuesday, Jan. 17
>
> 100 Federal St. downtown
>
> Gather at 9:30 am at B of A
>
> Press conference 10-10:30 am
>
> (leave City Life offices at 8:45 am)
>
>
>
> *If you have a snorkel or flippers, bring them along!  While you march,
> you can carry a sign that says “Millions of underwater homeowners demand
> principal reduction!”*
>
>
>
> Dear friends,
>
>             Bank of America is inviting workout counselors from the
> region to a special training on how to do loan modification on Bank of
> America loans.  Many of these workout counselors are our friends and do
> excellent work.  But they don’t have the tools they need to fix the
> crisis.
>
>             We know what tools they need and we’ve been demanding it for
> 5 years:
>
> *PRINCIPAL REDUCTION*.  Reduce the amount owed.  Don’t put principal on
> the end of the loan as a balloon payment.  Don’t extend the term.  Reduce
> the amount OWED.  The Banks deliberately ran up real estate values as
> part of the housing bubble.  The bubble burst as they knew it would.  The
> Banks should fix the crisis by reducing principal to real value.
>
> * *
>
> *We demand that Bank of America (and all Wall St. Banks)*
>
>    1. Reduce principal to real value as part of loan modification
>    2. If “1” doesn’t happen, sell the property to occupants or a
>    non-profit at real value
>    3. Stop all no-fault evictions.  Accept the rent!
>
> *Attached is our question and answer sheet on “why principal reduction”*
>
> *City Life organizing staff will be in Monday afternoon on the holiday
> for questions.*
>
>
>
> --
> www.partsandcrafts.org
>
>
>
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