Big bank executives make billions of dollars while leaving American families stuck picking up the tab. A tab that includes:
- 9 million foreclosed homes and nearly $2 trillion in lost homeowner wealth due to foreclosure, including the largest drop ever in generational wealth in communities of color
- 11 million jobs lost and continued record-high unemployment
- Billions in pensions wiped away and tens of thousands of vacant bank-owned properties littering neighborhoods from coast to coast
Until the big banks commit to the following, we will continue to Move Our Money:
- Provide principal reduction to reset the economy: Reduce principal for underwater homeowners to fair market value, especially in communities of color that received your worst and riskiest loans. This will help reset the housing market, pump billions of dollars back into the economy, and create a million jobs.
- Pay your fair share: Pay the statutorily required 35% corporate income tax and stop using offshore tax shelters and other corporate tax loopholes.
- Create jobs and treat workers fairly: Use 50% of corporate cash reserves to create good jobs. Help grow the American economy by investing in small businesses and supporting the rights of workers to organize.
- Pledge to keep your money out of elections: Disclose all corporate spending in elections to date and refrain from making any direct or indirect donations to any candidates or political causes in 2012 and beyond.
- Fund the future — not dirty coal, payday lending and private prisons: Stop financing for the coal industry and shift the balance of energy financing to support renewable power generation that is less threatening to our environment and health. Stop funding the predatory payday industry and start financing affordable small dollar loans directly. Stop funding the private prison industry and start financing job creation that builds opportunity and wealth in communities of color.
We believe it has a big impact if you do Move Our Money activities with others – it sends a strong message to the banks that we’re organized, and that this is a MOVEMENT that they can’t ignore. Group actions also can attract press attention, attract additional supports, and it’s fun!