Wall Street Reform Passes

(Because of You)

July 2010 — President Obama has signed Wall Street reform into law this month.

The big bank execs are all sitting around wondering how this happened. I know the answer.

It was you. And thousands like you who demanded we get this done.

I want to insist that you take a minute to stop and reflect on what we've achieved.

We made a list; scroll down and take a look.

Regardless of what motivated you to get involved, I hope you keep finding the inspiration to press on. And I hope you share it with those around you.

Still lots to do. Some very powerful people against us. But I like our odds with you on our side.

Here are just a few of the things we did together:4619093479_a29d33e083.jpg

Online, you've sent more than 100,000 letters to Bank of America, Goldman Sachs and other Wall Street banks - holding them accountable for the damage they've done to our economy.

You helped expose Goldman Sachs' record of trashing small businesses like Stella D'Oro, and sent thousands of phone calls to CEO Lloyd Blankfein's office, demanding that his bank show a real commitment to fixing the economy they helped destroy.

In the first major demonstration following the bank bailouts, SEIU and allies staged demonstrations outside of AIG in Washington, D.C. and in more than 30 states to demand Wall Street banks use taxpayer money to help rebuild communities, not pay out multi-billion dollar bonuses. Check out the photos.

SEIU members & activists, clergy, bank employees, and families delivered more than 90,000 taxpayer proxies to Bank of America's annual shareholder meeting to demand the bank fire CEO Ken Lewis and eliminate predatory practices that helped create our economic crisis. Because of our actions, Lewis was forced to resign as Chair of the Board. SEIU members also demanded Lewis receive no retirement payout given his giant salary and key role in the economic crisis. View photos of the taxpayer proxy delivery and from actions across the country. Watch video here.

SEIU members & activists, and current and former bank employees exposed the harmful and predatory practices of the big banks and partnered with lawmakers and consumer groups to call for new protections for bank employees to blow the whistle on harmful protects and protect consumers.

Members and activists from SEIU and NPA led three days of demonstrations around the annual conference of the American Bankers Association in Chicago. SEIU members and allies crashed a bankers' ball, demonstrated inside and outside of Wall Street banks across the city, and 5,000 Americans marched through the streets of Chicago to demand banks stop spending millions fighting reforms to help our economy recover and prevent another crisis. Lots of photos and video here.

SEIU and NPA members and our allies took on the giant 'vampire squid' Goldman Sachs for its leading role in the economic crisis and efforts to block key Wall Street reforms. View photos and video here.

When Wall Street paid out a record $140 billion in pay and bonuses in 2009, SEIU members and supporters again took action to expose how that money could be used to help our families and communities recover. The pay for Wall Street's top bankers could solve nearly every state budget gap in the country, stop every foreclosure through 2012, or extend unemployment benefits for every American out of work for 7 months.

SEIU members exposed the more than $1.2 billion Wall Street banks plan to collect this year from our cities and states from toxic interest rate swaps sold before the crisis. And we're working with lawmakers and community groups including ACCE and PICO in Los Angeles, Oakland, and in a growing number of cities to demand Wall Street re-negotiate or cancel these deals to save first responders, healthcare services, and education programs from being cut in our communities. Watch this video on interest rate swaps.

We're making banks pay for their continued role in the foreclosure crisis. Los Angeles was one of the first cities in the country to pass an ordinance fining banks up to $1000 a day for failing to keep up properties they foreclose on. SEIU, ACCE and others launched a web site www.LAHoodwinked.com to allow neighbors to report properties in disrepair. Cities like Los Angeles can collect hundreds of thousands of dollars to protect services from being cut. And neighbors won't have to worry about the value of their home plummeting even more because the foreclosed home next to them is falling apart.

And we're working with members of NPA, PICO, ACCE, IAF and other community groups to demand Wall Street banks implement real foreclosure prevention programs, write down principal on over-valued, underwater mortgages, and help families keep their homes. Foreclosed families are moving into Wall Street banks and traveling across the country to demand reforms. Watch the video.

SEIU members and activists joined thousands of other families and members of NPA, PICO, ACCE, IAF and other groups to march down the streets of San Francisco, Charlotte, Kansas City, Chicago, and on Wall Street and stage actions outside the annual shareholder meetings of the top Wall Street banks this April to protest Wall Street's failure to reinvest back in our communities.

In May, families from more than a dozen states converged on Washington, D.C. for three days of trainings and demonstrations to expose Wall Street lobbyists and demand Congress put the needs of Main Street before the demands of Wall Street. More than 2,000 Americans shut down traffic on K Street and took action outside the offices of the major Wall Street lobbyists. SEIU members were again joined by members of NPA , PICO and other community allies for the demonstrations. See the video and photos.