From Progress Illinois: Putting Wells Fargo On Trial

Progress Illinois

by Angela Caputo on September 24, 2009 - 4:47pm

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"Rally Cap" is a new recurring feature at Progress Illinois in which we recap -- with photography or video -- progressive-oriented protests and political rallies held around the state.

Summary:
Since pocketing a $25 billion taxpayer bailout last year, Wells Fargo has refused to extend credit to a series of struggling Illinois companies, unabashedly putting their own bottom line before the public good. Meanwhile, the bank has generated profits through unscrupulous lending practices, such as hiking penalties and interest rates, and targeting minorities with bad mortgages deals. Today, the organization Chicago Jobs With Justice led a protest of Wells Fargo's actions with a bit of political theater outside of the bank's downtown offices. In a mock trial held in the court of public opinion, an actor portraying Wells Fargo Chairman Richard Kovacevich was put on the stand to defend his company's banking practices.

Location:
Wells Fargo Chicago Headquarters, 230 W. Monroe

Participants:
Chicago Jobs With Justice
United Electrical Workers Local 1174

Quote of the day:
"Wells Fargo, you have been found guilty on all criminal charges against you. You are ordered to cease the foreclosure of homes, evictions of tenants, and liquidation of factories."
- Rev. Jonny Drummond of New Grace Emmanuel Church