Big Banks liquidating your workplace like Hartmarx suit makers in Chicago? Now there's a place to turn to for resources to fight back.
Yesterday, SEIU launched "Keep America Working" -- a toll-free hotline and website to support small business owners and workers facing job loss because of frozen credit and liquidation at the hands of bailed-out banks. The new website is www.keepworkinghotline.org and the hotline number is 877-286-1Job (it will be open Monday-Friday, from 8 a.m. to 6 p.m. EDT).
Up until now, there has been no system in place to hold banks accountable for their lending practices, despite the fact that they have received more than $410 billion in taxpayer bailout funds in an effort to restore lending and get the economy moving. The Keep America Working hotline and website will help shed light on the shortsighted practices of big banks who have failed to live up to their responsibilities to taxpayers and are now pushing for company and worker liquidation. SEIU is also working with Rep. Hare and Rep. Schakowsky in getting support from their colleagues to draft a letter to Treasury Secretary Geithner to enlist his help to protect jobs in our communities and hold banks accountable who received TARP for actions that undercut a meaningful economic recovery.
Some of the banks who act as prime lenders to companies that are currently liquidating jobs include--no surprise here-- Bank of America and Wells Fargo. If you're a business owner or employee that's affected by big banks like these putting the squeeze on your company, visit www.keepworkinghotline.org and let us know.
You need help - and you're certainly not getting it from the banks. So call the hotline at 1-877-286-1JOB or visit www.KeepWorkingHotline.org
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The guts of the $700 billion bank bailout bill is the same as the three page document submitted on September 21 by Treasury Secretary Henry Paulson. One of the biggest buzzwords in auto industry over the last six months or so is the term bailout. Bailout payments have been made to a lot of huge companies, and Chairman of the Federal Reserve Ben Bernanke insists that it’s the right thing to do, even though it’s with taxpayer money. Part of the recovery plan isn’t an explanation why the money wasn’t just given to the American People, to decide how best to use the payday loans their leaders made out themselves. In the effort to save our homes, many of us have turned to payday loans instead of traditional short term loans from banks that no longer will lend to the people that paid for their bailout to begin with. Read more click http://personalmoneystore.com/moneyblog/2009/05/07/taxpayers-payday-loans-personal-bailout/