99% Spring Week of Action: May 7 – 11

During the week of May 7, Minnesota activists will work to peacefully persuade U.S. Bank, Wells Fargo and other major corporations to take responsible action to:

  • End the foreclosure crisis,
  • Create meaningful opportunity for the communities hardest hit by the economic downturn,
  • Pay their fair share of taxes,
  • Stop interfering in our democracy,
  • And respect immigrant communities and end predatory financial practices.

The week of action will culminate in the “1% vs. Democracy March” and “Move Your Money Day” in downtown Minneapolis on May 11.

A calendar of major events scheduled for the week can be found by clicking here.

Our Vision Statement for the Week

WHO WE ARE: People of faith, neighborhood and community groups, organizations of immigrants and people of color, and labor unions are coming together because our members and communities have been hit hard by the economic crisis, unemployment, underfunded public services, discrimination, and foreclosures.

WHAT WE BELIEVE:  Our economy, and banks and corporations within it, should serve our democracy, and not the other way around. The moral compass shaping our economic life ought to come from the will of the majority. Public and corporate policies should be designed to undo, not exacerbate, structural racism and inequality.

WHAT WE WANT: Corporations and financial institutions should be accountable to the communities where they operate. We believe that banks should be where we put our money together, to plan together – based on the community’s priorities – how we want to invest and distribute that money. Specifically, we want:

Corporate Accountability: Wall Street and the big banks should fix what they broke. Banks should begin to revive the economy they crashed by reducing the principal on the mortgages of underwater homeowners and agreeing to face-to-face mediation before foreclosure. They must now take powerful, far-reaching steps to target equitable investments and lending to repair the damage done over many decades by disinvestment, racial discrimination, and exploitative lending practices in communities of color, low-income communities, and elsewhere. Corporations should create good jobs that pay a living wage. They should implement policies that break down barriers caused by structural racism and respect immigrants and all communities that contribute to their profits.

Progressive Revenue: We should all pay our fair share. Corporations should stop using all loopholes and offshore tax shelters, and pay the full 35% corporate tax. As a first step, CEOs of bailed-out banks should forego top executive pay bonuses and use the foregone bonuses to help erase devastating cuts to our schools, health care and public services.

The 1% should not dominate our democracy. The wealthy few that have benefited from a broken economic system that has hurt the vast majority should not seek further tax breaks and advantages through massive campaign spending, political and legislative front groups, or lobbying budgets that drown the voice of the 99% and block policies that would get our economy working again.

TOGETHER WE WILL WIN: Our shared conviction – that by using our gifts and creativity to pursue the common good, we can not only make our individual lives better but also enrich and improve the lives of everyone in our communities – has led this diverse set of organizations to begin direct negotiations at a single table with some of the biggest Banks and Corporations in Minnesota.

Click here for the full text of the vision statement.

Visit MNFairEconomy.org, follow us on Twitter and “like” us on Facebook for regular updates throughout the week.

We can’t stop now. You’re making a difference as part of our movement. Join us in the streets — click here to RSVP.

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