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September 30th, 2011

Bostonians protesting against BofA

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BofARecent 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.

Getting creative

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.

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2 Responses to “Bostonians protesting against BofA”

  1. Brandt Hardin Says: October 1st, 2011 at 1:41 pm

    Keep arresting citizens of peaceful protests and bring more attention to this issue! The movement is gaining momentum in its THIRD week now and Occupations are popping up all over the country! Stand up together and use your voice to give to those without through peace and solidarity. Tax the rich and feed the poor- you are the 99%! See my Occupy Wall Street painting and Anonymous homage on my artist’s blog at http://dregstudiosart.blogspot.com/2011/09/occupywallstreet.html where you can also see videos of the protests and police brutality as well as get other sources for coverage of the movement.

  2. Alyson Says: October 2nd, 2011 at 9:34 am

    What good do the protests do? Well, if we were Libya, there would be a no fly zone declared, and the banks would be bombed by various other countries.

    Funny how protests in America get utterly ignored, but relatively small protests in certain nations who have resources the corporate raiders want get blown up all over the media into huge movements for freedom or some such.

    Why is that? Oh yeah, in both cases, the media attention goes right to whatever the corporate types WANT it to, and it ignores what they dont want publicized.

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HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

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Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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