Amy Goodman: Coal, Foreclosures and Bank of America’s ‘Extraordinary Event’

[marmar]

from truthdig:



Coal, Foreclosures and Bank of America’s ‘Extraordinary Event’

Posted on May 10, 2012
By Amy Goodman


Shareholder meetings can be routine, unless you are Bank of America, in which case it may be declared an “extraordinary event.” That is what the city of Charlotte, N.C., called the bank’s shareholder meeting this week. Bank of America is currently the second-largest bank in the U.S. (after JPMorgan Chase), claiming more than $2 trillion in assets. It also is the “too big to fail” poster child of Occupy Wall Street, a speculative banking monstrosity that profits from, among other things, the ongoing foreclosure crisis and the exploitation of dirty coal.

North Carolina, which went for Barack Obama in 2008, is a swing state in this year’s presidential election. Current polls indicate the Tar Heel State is a tossup. To boost its chances there, the Democratic Party has chosen Charlotte to host this summer’s Democratic National Convention. In preparation, the Charlotte City Council passed an amendment to the city code allowing the city manager to declare so-called extraordinary events. The ordinance is clearly structured to grant police extra powers to detain, search and arrest people who are within the arbitrarily defined “extraordinary event” zone. The ordinance reads, in part, “It shall be unlawful for any person ... to willfully or intentionally possess, carry, control, or have immediate access to any of the following” and then lists a page of items, including scarves, backpacks, duffel bags, satchels and coolers.

Wednesday’s protest outside the Bank of America headquarters, with hundreds marching, was peaceful and spirited. The colorful array of creative signs was complemented by activists inside the meeting, who, as shareholders, were entitled to address the meeting. George Goehl of National People’s Action, who was inside, told CNN about Bank of America CEO Brian Moynihan’s reaction: “Dozens of us were able to speak, but Moynihan mostly dodged, deflected and denied. He looked visibly uncomfortable the entire time.”

Many activists expressed outrage at the bank’s role in the subprime mortgage industry and the foreclosure crisis it helped spawn. As part of a federal settlement over widespread mortgage fraud, Bank of America agreed to hand over $11.8 billion. Just two days before the protest, the bank announced it was contacting the first 5,000 of 200,000 mortgage customers who are eligible for a loan modification, with a potential decrease in their mortgage principal of up to 30 percent. .................(more)

The complete piece is at: http://www.truthdig.com/report/item/coal_foreclosures_and_bank_of_americas_extraordinary_event_20120510/?ln

[xchrom]

1. du rec. nt

[dixiegrrrrl]

2. I hope there are lawsuits aplenty against the ordinance.

[appal_jack]

3. Free Speech is an extraordinary right.

Last edited Thu May 10, 2012, 01:46 PM - Edit history (1)

Free Speech is an extraordinary right.

The 1st Amendment is an extraordinary restriction on the state's ability to suppress speech and demonstrations, and it was written to apply during extraordinary situations and events.

Too bad too many are extraordinarily ready & willing to ignore our Constitution.

K&R for Amy Goodman. She is a truly extraordinary champion for freedom and real justice.

-app