| New York, March 1--Chase Bank was the second stop on NYU4OWS's campus march, part of the international Day of Action in defense of education, which includes revealing--and reviling-- the socioeconomic practices of administrative officers and trustees of educational institutions. "Don't Agonize, Organize!" a sign reads. Protest site number two, a local Chase branch on University Place in the vicinity of NYU real estate, was chosen because JP Morgan Chase is where NYU invests all its pension retirement funds. According to David and Peter, the speakers on this issue, Chase owns $19 billion in foreclosure homes, and has rejected more people for loan modification than the Bank of America and Wells Fargo combined, with most of the foreclosed victims being people of color who have fallen prey to higher cost sub prime loans. Because of Chase's foreclosure record and because it "continues to foreclose without mercy", NYU4OWS is demanding that NYU move its--their-- money elsewhere. (This tactic follows in the tradition of divestiture as political action and is akin to the more recent highly successful campaign of moving money out of commercial banks into credit unions. ) For more info: NYU4OWS.tumblr.com and occupyed.org/nyc. For egregious banking practices, see two previous videos on this channel on Occupy the SEC. Press inquiries re: video please contact lizajbear@gmail.com. Thank you. | Views: 5 1 ratings |
