Fannie, You Can Run But You Can’t Hide
Depart from UAW Local 600, 10550 Dix Ave, Dearborn, MI 48120 at 7:30 am on Aug. 20.
After the upcoming Aug. 19 protest here in Detroit against Bank of America and Fannie Mae, we will caravan the next day, Tuesday, August 20, to Chicago with the Steelworkers Summer of Solidarity Tour to protest Fannie Mae’s role in the destruction of neighborhoods and the city’s tax base in Detroit and Chicago. Fannie Mae and Freddie Mac have no offices in Detroit and they backed out of the People’s Hearing last May, so we will take our protest to their front door, joined by community and union allies in the Windy City, including the Chicago Anti-Eviction Campaign and the Chicago Teachers Union.
We will be assembling at UAW Local 600 in Dearborn at 7:30 am, marching on Fannie Mae and Bank of America that afternoon in Chicago’s loop, and returning that evening. There are gas subsidies for those who need it and open seats may be available for those without cars, so contact us ASAP by return email (email@example.com) or call UAW Local 600 at 313-429-5009. Details of trip logistics will follow to those who can make the commitment.
Bank of America
Fannie and Freddie
|1) BoA has swindled Chicago with toxic loans that promised easy cash but have driven the city further into debt, leading to layoffs and school closings.||1) These failed mortgage investors, taken over by the federal government in 2008, let BoA and other banks that service their loans defraud homeowners and collect foreclosure fees at taxpayer expense.|
|2) BoA services mortgages owned by Fannie and Freddie and profits from foreclosure. Former employees testify that BoA pays bonuses for lying to homeowners and denying loan modifications. Empty homes serve as a magnet for crime in already struggling neighborhoods.||2) The big banks trashed the economy, but Fannie and Freddie won’t reduce mortgage principal to market value to help struggling families. Foreclosed and abandoned homes erode our tax base, driving the city and its schools further into debt.|