Bostonians protesting against BofAby Tim Manni
Recent groups of protestors that have sprouted up across the city of Boston haven’t been voicing their displeasure with their baseball team’s September collapse, they’re protesting against Bank of America.
Today, over 1,000 people are expected to march in downtown Boston to protest against the bank, and “rally against Wall Street greed, predatory lending, and skyrocketing foreclosures in urban communities,” according to a press release.
Take Back Boston, one of the websites that has the latest information on anti-BofA protests and ralliess across the city, says although these protests are happening in Boston, this is a national concern.
That’s something the readers of this blog know all too well.
Plenty to be upset about
Whether it’s a lack of foreclosure assistance or new debit card fees, plenty of Americans are upset with BofA.
After taking over Countrywide, BofA inherited a wealth of bad loans. Part of what has Bostonian protestors so upset is the lack of assistance to prevent these loans from being brought to foreclosure. The announcement that BofA plans to lay off 30,000 employees hasn’t help their outlook.
Also, a new report says that several of the nation’s largest banks, including BofA, excited TARP early so they avoid restrictions on executive pay.
If nothing else, the BofA protests in Boston have been pretty creative.
Recent protests have included taking bags of trash from a foreclosed home and piling them up in front of a local office, bringing anti-Bank-of-America muffins into a morning business meeting, and have even taken to the inside BofA branches to voice their opinions to employees and customers alike.
What good will come of it?
Boston isn’t the first city to host large-scale protests against big banks, and it won’t be the last. But what good do these protests do?
That’s a question I’ll leave open to you the readers. Let’s hear your answer in the comment section below.