Be A Voice Against Wells Fargo
Posted by Michelle Moquin on 24th April 2012
Good morning!
After almost 20 years of banking with Wells Fargo, two years ago I decided to leave and bank elsewhere. Now after finding out more about Wells Fargo, I am so happy that I did.
Anti immigrant laws like Arizona’s SB 170 and Georgia’s HB 87, are not only a consequence of racism but also of the greed for money. It is a huge business to criminalize and incarcerate OTWs because the federal government pays private prison companies and average of $122 per day per person in prison.
Private Prison Companies such as Corrections Corporations of America (CCA) and the GEO Group have influenced politicians to pass laws that criminalize OTWs just to increase the prison population for more profit. These companies are making millions, and those who benefit are companies (shareholders) that invest in the prison industry. And as you have read, our government is building more prisons, while cutting social services and schools, all with tax payer money.
Enlace in partnership with community groups and unions across the US, is calling on all public and private institutions to divest their holdings in Corrections Corporation of America (CCA) and GEO Group, America’s largest private prison corporations which have profited from billions in taxpayer money.
Enlace launched the Prison Industry Divestment Campaign to convince shareholders (banks hedge funds etc.) to divest their funds from the prison industry so people like you and me can make an impact on the prison business, and reduce the power of CCA and GEO to lobby for laws that imprison our communities.
Watch the video and see legalized racial profiling in action:
So what does this have to do with Wells Fargo? Guess what? Wells Fargo is a major investor in CCA and GEO – the nations two largest for-profit companies.
Over the past 3 years, hundreds of thousands of OTWs have been subjected to excessively abusive treatments in for-profit prisons run for the federal government by the GEO Group (GEO), and Corrections of America (CCA). So do you think Wells Fargo is innocent in all of this? I don’t think so.
These are the stats:
- 1 million immigrants have been detained in the past 3 years
- 3400 is the daily population in detention camp
- 80% of the beds are owned by GEO and CCA
- GEO and CCA’s profits in 2009 were 3.1 billion
- Wells Fargo received 43.7 billion in bailout money
- The cost to tax payers is 5.5million daily.
- Major investor
- Underwriter
- Broker-dealer of shares
- Trustee
- Documentation Agent
- Dealer manager
- Financial advisor
Wells Fargo pays lobbyists who help GEO lobby the government for policies that incarcerate more immigrants in for GEO run facilities. Wells Fargo made contributions to Georgia’s HB87 ( Arizona’s copycat law) sponsor Senate Bill Hamrick and to several politicians in state House and state Senate who voted in favor of HB87.
Readers: And if that isn’t enough to make you mad, Wells Fargo also holds the lead in foreclosures, finances more Payday lenders than any other big bank, and they’re America’s biggest tax dodger.
Want to do something to stop Wells Fargo? Join Bay Area, Causa Justa :: Just Cause (CJJC): a multi-racial, grassroots organization building community leadership to achieve justice for low-income San Francisco and Oakland residents. CJJC is part of a Wells Fargo shareholder protest taking place tomorrow in San Francisco. And you can be a part too.
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We NEED YOU at our Wells Fargo action tomorrow, Tuesday, February 24 in San Francisco at Justin Herman Plaza, SF.
Join thousands in San Francisco, this coming Tuesday at 10am, to take over the Wells Fargo Shareholder Meeting (#wf24) and turn it in to a Peoples Meeting!
The shareholders want to meet about how to best reap profits from foreclosures, for-profit prisons and detention centers, student loans, and tax evasion.
We plan to put a crimp in their plan. More info at:
http://wfshareholders.tumblr.com/
Follow the action on Twitter with #wf24 #99power
On Facebook at: http://www.facebook.com/events/203308649774621/
The broad coalition of community, faith, and labor organizations participating includes: Alliance of Californians for Community Empowerment (ACCE), Alliance for Just Society, Causa Justa/Just Cause, Contra Costa Interfaith Supporting Community Organization (CCISCO), EnLace, International Forum on Globalization, National People’s Action, New Bottom Line, Occupy SF, POWER-LA, Pride @ Work, PICO California, ReFund California, and SEIU International, SEIU Local 1021, SEIU United Workers West, SEIU Local 87, San Francisco Labor Council, We Are Oregon .
This action is also part of 99% Power, a national effort to mobilize well over 10,000 people, from all walks of life and representing the diversity of the 99%, to engage in nonviolent direct action at more than three-dozen corporate shareholder meetings across the country.
Causa Justa :: Just Cause is a multi-racial grass roots housing and immigrant rights organization building community leadership to achieve justice for low-income San Francisco and Oakland residents. We have offices on both sides of the Bay.
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Will you be there? Blog me.
Peace & Love…
Lastly, greed over a great story is surfacing from my “loyal”(?) readers. With all this back and forth about who owns what, that appears on my blog, let me reiterate that all material posted on my blog becomes the sole property of my blog. If you want to reserve any proprietary rights don’t post it to my blog. I will prominently display this caveat on my blog from now on to remind those who may have forgotten this notice.
Gratefully your blog host,
michelle
Aka BABE: We all know what this means by now :)
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