Oakland California teachers plan to sit-in at Wells Fargo bank on Monday, April 4, 2011, citing the failure of Wells Fargo to give back to the community after receiving on of the largest bailouts of the "Too Big To Fail" banks from the Bush and Obama administrations. The sit-in, on the anniversary of the assassination of Martin Luther King Jr., begins a week of protests sponsored by labor unions and various community and other groups across the USA.
In a letter from OEA President Betty Olson-Jones, the OEA asked to meet with Wells Fargo President John Stumpf and any other financial leaders he chose to invite. Noting that Wells Fargo has received a $50 billion bailout from our tax money and that Mr. Stumpf—with a $20 million annual salary—the highest paid bank CEO in the country, OEA proposed to discuss the following:
1. Wells Fargo publicly calling on the State to forgive the Oakland USD debt, which tripled to $100,000,000 during the state administration of the district....
CONTACT: Betty Olson-Jones, OEA President (510) 866-3676 /
[email protected] Kelly Jacobs, OEA Site Representative, (510) 295-3656 /
[email protected] Bob Mandel, OEA Executive Board member, (510) 205-1556 /
[email protected]http://substancenews.net/articles.php?page=2147§ion=ArticleIf Stumpf would forgo his salary for a year that would pay off 20% of the District debt.
How out-of-balance things have gotten.