Last week, we learned that the swift action by the President and Congress to pass an economic recovery package earlier this year helped stave off a global economic recession, put our economy back on the path of growth, and helped save hundreds of thousands of jobs.

SEIU was a major proponent of the economic recovery package and we believe we need to continue to make progress on a number of other economic initiatives to build long-term sustainable economic growth--these include passing meaningful financial reform, investing in green jobs, using public pension funds to build a 21st century infrastructure, and creating a new retirement system to protect our future.

Passing Meaningful Financial Reform
Anna Burger writes on New Deal 2.0 about the need to fundamentally change the way we value wealth and work in our country and act now on meaningful reforms to protect our families from future economic crises.

To build long-term economic progress we must:

• Create a strong Consumer Financial Protection Agency to serve as a watchdog against predatory and reckless banking products;
• Crackdown on out of control executive pay that rewards short term risks over long term results;
• End too big to fail once and for all by separating commercial banking from investment banking and raising capital requirements back to levels that promote safe and sound banks;
• Empower shareholders to act on executive pay and break the excessive power of executive-controlled boards;
• Force banks to expand lending to small businesses and state and local governments to create jobs and save critical services;
• Demand banks stop foreclosures and help families keep their homes;
• Reregulate the shadow financial markets--including derivatives, hedge funds and private equity; and
• Investigate, and if necessary prosecute, the big banks and Wall Street for crashing our economy.

In case you missed it--more than 5,000 Americans from 20 states--converged on the American Bankers Association convention in Chicago to demand banks stop fighting reforms that would help protect our families from future crises. It was the beginning of a national movement to hold banks and Wall Street accountable for their reckless behavior.

Investing in Green Jobs
During the first meeting of the President's Economic Recovery Board, Anna Burger shared her perspective on how business, labor and government can work together towards creating a low-carbon, green economy and a movement into sustainable good, green jobs--citing the work SEIU and other Change to Win unions are already doing on the community and national level to lead the way on green initiatives.

What happened outside the bankers' conference on Tuesday was a reminder of the power of our voices together.

For three days, thousands of us from every corner of the country and all walks of life came together to demand change from the Wall Street banks.

See pictures and video from the bankers' conference in Chicago: http://action.seiu.org/whatsnext

But, as amazing as Chicago was, everyone I talked to had the same question:

"What's next?"

The answer is up to us. For too long, we've let Wall Street write the story - and we know how that one goes. Staggering unemployment. Record foreclosures. And complete financial meltdown as their final act.

Chicago was the end of that chapter, will you help us write the next one? http://action.seiu.org/whatsnext

If the big bank CEOs think what happened in Chicago was the last they've heard from us, they're very, very wrong. We're just getting started.

There are millions of our friends, neighbors, and coworkers who want to see an end to business as usual on Wall Street. Will you show them what we did in Chicago, and what we can do if we all work together?

Click here to get started: http://action.seiu.org/whatsnext

The protests at the American Bankers Association Conference in Chicago may have finished on Tuesday, but the campaign to demand that big banks stop using our tax dollars to lobby against financial reform is far from over. Big banks took $17.8 trillion in taxpayer bailouts and then turned around and spent $35 million of the taxpayers' money fighting reform and lobbying against the most basic measures to protect consumers.

Adding to the frustration of the situation is the complete lack of responsibility the delegates from the American Bankers' Association accept for the financial crisis their banks' harmful business practices perpetuated. "Bankers care," the ABA's chairman, Arthur Connelly, told more than 1,000 senior executives from banks across the nation gathered at their annual convention in Chicago. "We want to make life better in our communities...[and] traditional banks are the solution to getting this country back on track."

Newsflash, Mr. Connelly: Taxpayers (and their empty wallets, foreclosed homes, and drained pensions) beg to differ. The ABA's annual convention in Chicago was the scene for the series of major protests this week, as thousands demonstrated to show just how sick and tired they are of having big banks treat them like personal ATMs. We're still enjoying the amazing visuals that resulted from the five demonstrations held outside the ABA convention, Wells Fargo and Goldman Sachs in downtown Chicago. Check out the photos from the October 27th march and rally, which mobilized 5,000 taxpayers to take to the streets:

You can check out photos from the four other demonstrations protesting the ABA, Well Fargo and Goldman Sachs after the break.

To see our live updates and blog posts from the Showdown in Chicago, visit SEIU's Blog here.

While thousands of Americans were delivering a letter to Goldman Sachs on Sunday demanding they stop using our tax dollars to lobby against financial reform, Goldman Sachs was ...using our tax dollars to lobby against financial reform.

Matt Taibbi has an excellent find on his blog at True/Slant about a Goldman Sachs lobbying document being circulated to US senators right now. From the document (via Taibbi's blog):

"ALTERNATIVE TRADING PLATFORMS AND THEIR EFFECT ON LIQUIDITY

The equity markets provide perhaps the best example of a highly evolved complex ecosystem, where care must be taken to preserve the benefits that have evolved from competition and innovation...

Crucially, liquidity is what helps to solve this mismatch problem. Market makers that see large volumes are best positioned to match differing size transactions. In traditional exchange trading, bids and offers are public, and this transparency helps buyers and sellers to achieve the best price.

For some market participants, however, the openness and transparency of the equity market actually mean they are unlikely to achieve the best price. The risk, particularly for large transactions such as those undertaken by pension funds or large mutual funds (where most small investors have most of their equity exposure), is that other market participants will use this transparency to undercut the intended transactions."

From a Goldman Sachs lobbying document (emphasis mine)

This is... wow. Take a minute to soak this up. The big banks are arguing that allowing for openness and transparency would be bad for the shadow markets they've created, because it might cause them to make less money on each trade. Currently, they trade stocks in something they've termed "dark pools." Dark pools are a creative accounting trick to sell large amounts of stock to people without having to disclose to them the risk of their stock's value plummeting.

Most reasonable people get uncomfortable just hearing the term "dark pools." But, the Wall Street bankers love them. Because, while they create losses for most of the people involved, the folks at the top clean up nicely on these deals. Sort of like how pyramid scams work.

This is the exact type of behavior the fueled the economic collapse. It's still going on as we speak. And here's the worst part: banks are using the money that they got from bailouts to help fund the entire scheme.

My apologies if I just spoiled your appetite before lunch.

It was an intense and often emotional conclusion to three days of action against the ABA in Chicago; and a powerful beginning to a taxpayer-led campaign to bring an end to Wall Street greed.

More than 5,000 taxpayers marched over the Chicago River and to the front door of the American Bankers Association this morning. Chanting "enough is enough," the crowd came to deliver an invoice to the big banks for the $17.8 trillion they took from us to pay themselves big bonuses and lobby against reform.

The rally featured stories from Americans across the country who have been impacted by Wall Street's harmful behavior. Here are some of the highlights:

Standing in front of the American Bankers Association conference in Chicago, Anna Burger led more than 5,000 taxpayers in demanding an end to the greedy Wall Street practices that led to economic meltdown.

"We know who the architects of our economic collapse are - they're right over there. Goldman Sachs CEO Lloyd Blankfein. JPMorgan Chase CEO Jamie Dimon. Bank of America CEO Ken Lewis. Wells Fargo CEO John Stumpf," she said. "We have to investigate them and, if necessary, we have to prosecute them for what they've done to our country."

Watch video of Anna's speech as well as taxpayers delivering a past due invoice to the big banks for the money they've taken from us:

Video and photos now posted below.

The marchers just took the first steps towards the ABA conference to protest what Andy Stern called "the people who put company before country."

They're being led by people from across America that have been directly impacted by the greedy actions of the Wall Street bankers gathered at the ABA conference. People who have worked all their lives, but were kicked out of their homes, watched their life savings dry up, and seen their interest rates skyrocket.

So, we're marching directly to the bankers right now. Demanding our money back. Demanding our country back. And demanding that they stop using our money to pay themselves huge bonuses and lobby against reform.

The crowd is starting to gather along the Chicago River for the largest protest against bank greed since the economic crisis began. We're about 30 minutes out from taking the first steps toward the ABA conference - and the first steps in our campaign to end Wall Street greed.

We'll be posting live updates to our blog, so keep an eye on SEIU.org. You can also get realtime updates from the march on our Twitter feed and photos from the action at our Flickr page.

Of course, the best way to get involved is to come join 5,000 of your fellow Americans at the corner of Michigan and Wacker right now.

The working people taking to the streets this week in the Showdown of Chicago think the amount of money the ABA is spending to lobby against the Consumer Financial Protection Agency is downright scary. To drive their point home, some protesters donned their "Scary Movie"-like costumes a week before Halloween:

At the grand finale of Day 3 of the Showdown in Chicago, a group of protesters dressed like the Grim Reaper held plastic knives that read "making a killing" and "death bonds" at today's protest in front of the American Banking Association's meeting place the Sheraton Hotel, following the protests in front of Goldman Sachs and Wells Fargo.

As the lobbying arm of the American banking industry, the ABA's members include the big banks that helped cause the crisis that has resulted in widespread economic devastation and led to $17.8 trillion in taxpayer funded bailouts and backstops for the banks. These banks include Bank of America, JPMorgan Chase, Wells Fargo, and Citibank, which together account for 60% of all bank industry assets and mortgages in the U.S---and all received TARP money.

Now the ABA is spending millions of dollars to obstruct meaningful financial reform. Taking on the banksters has never been so imperative---and tomorrow's Showdown in Chicago will be the biggest event so far this week, where roughly 5,000 union members, farmers, small business owners and activists will descend upon the ABA's annual meeting to demand an end to bank's greed.

The march begins at the corner of Stetson and Wacker Drive at 10:30, followed by a march to the Sheraton, and will also feature speeches by Andy Stern, Anna Burger and Tom Balanoff. Will you join us in making our voices heard?

Another amazing day in Chicago. Americans are fired up to put an end to Wall Street greed. Everybody is excited for tomorrow; it's going to be the largest protest against bank greed since the financial crisis began - over 5,000 people.

Here's a wrap up of today with a few faces of the Showdown in Chicago:

Outside the ABA conference today are more than 1,000 people with more than 1,000 stories of bank greed hurting families and small businesses. I wanted to share one in particular that grabbed me.

Meet Mary from Cincinnati:

Updated: Video now included below

More than 1,000 taxpayers decided to take a walk down Wacker Drive to see how their money is being used by America's bailed out banks - and to ask for a few changes to prevent another financial meltdown.

Having tried to deliver our letter to the ABA last night and being kicked out, we went directly to the banks today - Goldman Sachs and Wells Fargo. The demand, as always, is a simple one: stop using our tax dollars for toxic loans, big bonuses, and anti-consumer lobbying campaigns.

Both banks took our letter. We're two for two right now. With a streak like that, why not try our friends at the ABA one more time? The crowd is headed back to the ABA conference with the letter in hand. Will we go three for three today? Or will the big bank lobbyists give us another cold shoulder?

The rally outside of Goldman Sachs stretched more than a block long:

From inside Wells Fargo:

Here's a new video up from Tom Balanoff's speech at the Showdown in Chicago. He kept the crowd on their feet the entire time. Definitely worth checking out:

From the American Bankers Association (ABA) website:

Don't miss... Exceptional speakers like FDIC Chairman Sheila Bair, Comptroller of the Currency John Dugan, former Speaker of the House Newt Gingrich, and political commentator George Will.

Sheila Bair is an exceptional speaker - I know because she just spoke at the Showdown in Chicago. She talked about the importance of stopping the greedy Wall Street practices like predatory lending, sub-prime mortgages, and lack of regulation that led us into financial crisis.

She also took something from us to give to the ABA. It's the letter that we tried to give them ourselves yesterday, but they kicked us out. Will they kick Chairwoman Bair out, too? We'll soon find out.

Here's the video:

Welcome to the Showdown in Chicago, where the American people have come together to reclaim America and hold Wall Street accountable. It's Day 2 of the annual meet-up of the American Bankers Association, and nearly a thousand taxpayers decided to facilitate a little meet-and-greet between the people that created the financial crisis (and got rich from it), and the people who paid the price for Wall Street's greed--and footed the bill to bail the banks out.

Unfortunately, the banksters letting loose in the Sheraton's lavish ballroom couldn't be convinced to leave their posh party to attend our rally....but 40+ policemen and numerous onlookers turned out and I even saw several cops taking pictures of us. Around 60 taxpayers went into the hotel to invite the bankers to join us one last time, as well as deliver a letter to ABA CEO Ed Yingling. Access to the 2nd floor reception area was completely blocked off, so the taxpayers asked ABA's security to deliver the letter for them instead....and were refused.

Photo © 2009 Heather Stone Photography

Since we weren't allowed to deliver the letter to ABA CEO Ed Yingling, the taxpayers inside the Sheraton decided to speak out demands to the ABA from down in the lobby, loudly but respectfully. We're pretty sure Mr. Yingling he heard us...along with all the other partygoers. Onlookers who gathered to watch seemed surprised at what was going on--but not why we were there to demand an end to Wall Street greed.

I've been to my fair share of great protests, but I was particularly wowed by tonight's energetic chants and stand-out visuals. The hundreds of people chanting "ABA, you're the worst, time to put the people first" and "Enough is enough" rang out pretty powerfully. I think the police's personal favorite though, was our chant "Police need a raise!" The rally featured huge "Wanted" posters showing the poster children of greed, including cutouts of Bank of American CEO Ken Lewis, Wells Fargo CEO John Stumpf and JP Morgan CEO Jamie Diamon. A rendition of soulful classic "Shame Shame Shame" by Shirley & Company was also belted out by the rallyers (and some of the audience too, I suspect).

"They said the banks were too big to fail," said rallygoer Keya Alvarez from the Alliance to Develop Power. "Well, I got news for them--the people are too big to fail!" We're gathered here in Chicago because we're sick and tired of being sick and tired. We're also here because we have hope--and we know Wall Street and America can do better. Stay tuned tomorrow for more coverage of our Chicago banks showdown, and be sure to follow our live updates on SEIU's Twitter feed.

Today was an amazing beginning for us. Not just the beginning of the three day protest against the American Bankers Association (ABA) conference, but the beginning of the end for business as usual on Wall Street. The big banks heard loud and clear tonight that taxpayers are fed up with them taking our money and using it to pay themselves outrageous profits and lobby against financial reform.

They did everything they could not to hear us. They've been ignoring our demands ever since we asked them to meet with us at their convention this weekend. So, tonight, taxpayers decided to invite ourselves in. All we wanted to do was deliver a letter to the Wall Street bankers to let them know how much they've hurt our communities - and what they need to do to clean up their act. Take a look:

They wouldn't listen to us. They kicked us out. But, the bad news for them is that we'll be back. We're not going to leave after tonight. In fact, more and more people are coming to Chicago in the next 48 hours. What started as a thousand people tonight will continue to grow up until Tuesday when more than 5,000 taxpayers march on the ABA and demand an end to Wall Street greed.

Our demand is simple: stop taking our tax dollars and squandering them away on billion dollar bonuses and massive lobbying campaigns against financial reform. Will you join us in making our voices heard?

Update: We'll be posting updates on our blog as events take place. Also check out our constantly updated Flickr and Twitter streams.

File this under "things I could not possibly be making up because they are so absurd."

The Wall Street bankers are in Chicago this weekend for the American Bankers Association conference - and they've decided to do one good deed for the people of Chicago while they're here. They are helping to renovate a house that had been foreclosed... by them.

It's a nice gesture on the bankers' part, but a completely empty one. In the time it took them to help fix up that one house, banks were kicking 1,440 families out of homes across the country; that's one foreclosed home every 7.5 seconds.

It's one of the many, many examples we've seen this weekend of Wall Street bankers being completely oblivious to the pain they're causing millions of American families. There are plenty of people here in Chicago to help remind them, though. In the room next to me, hundreds of taxpayers are starting to gather right now. They're just a fraction of the thousands of Americans who will be protesting the big banks' greed outside the ABA conference over the next three days.

There's a definite buzz in Chicago right now. Thousands of Americans are finally getting their chance to stand up and say "enough" to the greedy Wall Street behavior that's hurt our communities for so long.

Next week, the members of the American Bankers Association (ABA) are congregating at the Sheraton in downtown Chicago for their annual conference, with appearances by conservative Republican commentators Newt Gingrich and George Will. During the three-day conference, SEIU, Action Now, National People's Action, and dozens of other activist organizations will hold a series of events highlighting the growing discontent with big banks and their over-reliance on greed and profits at taxpayers' expense.

On the Huffington Post, SEIU's Anna Burger discusses why progressives won't be letting the banksters party in peace this Sunday, Monday and Tuesday in Chicago:

The financial section of the newspaper is starting to read like the script for a far-fetched crime movie. A group of villains hatch a plot to steal trillions of dollars from unsuspecting Americans. They drive the country into economic chaos, funnel money from families and small businesses into their own pockets, then leave all of us to clean up their mess. And not only do they get away with it, they pay themselves billion dollar bonuses and throw lavish parties to celebrate their conquest.

But this isn't a movie, it's really happening. Wall Street bankers have taken $17.8 trillion of our tax dollars through bailouts and turned them into massive pay and bonuses for themselves. Goldman Sachs alone is expected to pay more than $23 billion just in bonuses this year; that's more than $43,000 a minute, every minute.

So, my question to you is: if you could get all the architects of this scam together in one place, what would you say to them?

Hurry up and decide, because they're all getting together in Chicago this weekend -- and we're headed there to meet them.

The big bank execs are gathering in the Windy City for the American Bankers Association conference. It's a four day celebration of wealth and opulence; some of the items on the agenda include a roaring 1920s swing dancing party, a luxurious riverboat cruise, and celebrity appearances from Newt Gingrich and George Will. And it's all funded with our tax dollars.

Read the rest of Anna's piece on Huffington Post here.

Full report on ABA's actions to lobby against financial reform here. Check out the schedule of the three days of actions in Chicago here, as well as after the break.

Taxpayers From 20 Cities Headed to American Bankers Association Chicago Conference October 25-27

Banks Using Taxpayer Money to Spend Millions Fighting Reforms that Would Help Prevent Next Financial Crisis

Chicago, IL--In the largest taxpayer mobilization since the economic crisis began, thousands of Americans from 20 cities will converge on the American Bankers Association (ABA) conference in Chicago from October 25 to 27 to demand banks stop spending millions in taxpayer dollars to lobby against reforms that would protect Americans from the next economic crisis.

After taking $17.8 trillion in taxpayer bailouts and backstops, the ABA and the six largest banks have spent more than $35 million fighting Congressional action on financial reform. Meanwhile, ordinary Americans continue to face rising foreclosures, record unemployment, skyrocketing bank and credit card fees, and vanishing pensions and 401(k)s.

From Spokane to Syracuse, ordinary Americans who have lost their jobs, their homes, and their life savings will be boarding buses and planes to demand banks end their over-reliance on greed and profits and commit to using their taxpayer bailouts and backstops to help America's economy recover.

Read a full report on ABA's actions to lobby against financial reform here.

National Taxpayer Mobilization to Break Bank Greed

WHAT: Taxpayers converge on Goldman Sachs CEO's NYC home to demand the bank use billions in bonuses to help alleviate foreclosures and job loss before heading to Chicago.

WHO: Hundreds of working families and community groups

WHEN & WHERE: 11:15 am EDT
15 Central Park West, New York, NY

WHAT: Taxpayers put big banks and Wall Street on trial for breaking their commitments to the American taxpayers.

WHO: Hundreds of taxpayers from across the country who've lost their jobs, homes, and retirement security because of the economic crisis, workers, community leaders and allies, and academics.

WHEN & WHERE: 4:30 pm CDT
Hyatt Regency Chicago
151 East Wacker Drive

WHAT: Demonstrations at Goldman Sachs and outside American Bankers Association.

WHO: More than 1,000 retirees, family farmers, clergy, workers, students, homeowners, and community allies.

WHEN & WHERE: 10:30 am CDT - Goldman Sachs Chicago Headquarters
71 S. Wacker, Chicago

Taxpayers will ask Goldman Sachs to donate its entire projected $23 billion dollar bonus pool to prevent every foreclosure in America in 2010 AND lift one million families out of the poverty and joblessness.

12:00 pm CDT - Demonstration outside American Bankers Association convention, 301 East North Water Street

WHAT: Taxpayer march on American Bankers Association conference to demand banks stop lobbying against needed financial reform.

WHO: More than 5,000 workers, clergy, and community allies and leaders from 20 cities.

WHEN & WHERE: 10:00 am CDT - Prayer vigil at Intersection of Wacker and Stetson.

10:30 am CDT - March begins at Intersection of Wacker and Stetson.

11:00 am CDT- Rally outside the Sheraton Hotel, 301 E. North Water St. Crowd will assemble on Park Dr.

* Live photos and videos from the events will be posted to www.seiu.org/bigbanks , www.StopBankGreed.org , or www.ShowdownInChicago.org for more details as the events unfold.

Groups participating in the three days of mobilizations include: A New Way Forward, AFL-CIO, Action Now, Albany Park Neighborhood Council, Alliance to Develop Power (ADP), Americans for Fairness in Lending, Americans for Financial Reform, ARISE Chicago, Brighten Park Neighborhood Council, Central Illinois Organizing Project (CIOP), Center for Community Change (CCC), Change in Terms, Change to Win, Citizen Action, Chicago Coalition of the Homeless, Communities United for Action (CUFA), Community Voices Heard (CVH), Contra Costa Interfaith Supporting Community Organization (CCISCO), Grassroots Collaborative, Green Party of Nevada, Fuerza Laboral/Power of Workers, Illinois Hunger Coalition, Iowa Citizens for Community Improvement, Jobs with Justice, Gender Just Metanoia Centers, Inc., Michigan People's Action (MPA), MoveOn, National People's Action, Northside Action for Justice, Northside POWER, Northwest Bronx Community & Clergy Coalition, People Organized for West Side Renewal (POWER), PUSH Buffalo, Right to the City Alliance, Rights for All People (RAP), Roomdad Productions, Service Employees International Union (SEIU), SEIU Illinois State Council, SOUL, South Austin Coalition Community Council (SACCC), Sunflower Community Action, Syracuse United Neighbors (SUN), Teach Our Children (TOC), The Grassroots Collaborate, UE, UCLA Undergraduate Students Association, Workers United, and Working In Neighborhoods (WIN)