Seattle Acts! to Divest $3 Billion From Wells Fargo Over Standing Rock

[Equinox Moon]

The proposal will be voted on next month and could have broader implications to ensure the city partners with socially responsible businesses.
Over the past few months activists opposed to the Dakota Access pipeline have ramped-up pressure on the pipeline company’s financiers, and now the city of Seattle is showing what kind of weight a large municipality can add as it looks at taking $3 billion in city business away from Wells Fargo.

Seattle City Council member Kshama Sawant introduced legislation that would end the city’s contract with Wells Fargo, which handles $3 billion worth of city government business, including employee payroll. It was unanimously approved to go to a full vote in January. Wells Fargo’s contract with the city has another year to go, meaning no big changes right away, but the legislation could have broader implications as it proposes rules to ensure that the city does business with socially responsible businesses. In remarks introducing the bill December 12, Sawant said the city “can make a strong commitment to environmental, economic, and racial justice” by moving its business to an institution with a reliable social justice record.


http://www.yesmagazine.org/new-economy/seattle-takes-steps-to-divest-3-billion-from-wells-fargo-over-standing-rock-20161215

Ari Paul posted Dec 15, 2016

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Rock-on Seattle!!!!

[angrychair]

1. I love Washington

Best state I've ever lived in

[Equinox Moon]

2. Feels good to hear some good news!

[angrychair]

5. Definitely

[JudyM]

3. Yes! More like this, please! We *must* stand up to corporatocracy by supporting socially responsible

businesses. The bigger the hit, the better, but all of us together cumulatively would be incredibly powerful.

[Equinox Moon]

4. I see that the most power we have is with local government

A friend and I talked about this and we decided 80% action with local and state government and 20% federal is how we are going to split our efforts.

For example, the actions by BLM in my town have shaken things up big time. BLM activists participate in all levels of government. I see them at city council meetings and panels asking questions and raising awareness. They are running for political offices on all levels of government from city council to city mayor to state legislators to congress. It is nice to see that "we the people" can make a difference.