St. Louis Workers Rally to Take Back the Economy

St. Louis Workers Rally to Take Back the Economy

Call on Congress To Act on Employee Free Choice, Health Care, Banking Reform

St. Louis workers and community organizations protested in front of Bank of America to voice the growing public frustration with an economy weakened by years of corporate excess at the expense of broader prosperity.

The rally on March 19 was one of approximately 100 national actions by thousands of Americans in 35 states outside the offices and branches of major U.S. banks with a message aimed at the U.S. Congress: “It’s Time for an Economy that Works for Everyone.”

Despite receiving $45 billion in federal taxpayer bailout funds since last fall, Bank of America has announced plans to lay off 30,000 to 35,000 workers, awarded $5.2 million in corporate bonuses (including BofA-owned Merrill Lynch), maintains a fleet of aircraft worth $360-$400 million, and continues to charge consumers some of the highest service fees in the industry.

Over the last two years, Bank of America CEO Ken Lewis has received $34.8 million in compensation, and Chase’s CEO Jamie Dimon received $27.8 million in 2007—while the median wage for a teller at those banks hovers around the federal poverty line.

The nationwide protests challenge Congress to take immediate steps to rebuild an economy that works for everyone by passing:

The Employee Free Choice Act so workers have the freedom to form unions for a voice to share in the economic progress they help create.
Affordable, quality health care for all where everyone, including big corporations, does their share and Americans no longer have to go without quality health care or face health costs that sink a family’s budget.
Strong banking reform to make sure the financial services industry can never again bring our economy down by prioritizing huge profits and executive pay over responsible lending, or by preying on consumers, gambling with families’ hard-earned money, and hiding their dealings.