May 17th JPMorgan Chase Shareholder Meeting in Columbus, Ohio | Clergy, Homeowners, Unions to Hold Banks Accountable for Foreclosures, Recession

“Most Basic Values” JP Morgan Chase

What if we came together and made the nation’s largest banks like JP Morgan Chase follow the same rules as we all do around fairness and honesty, paying their fair share of taxes and treating people fairly? Well, it might look something like this.”

Clergy, Homeowners, Unions to Hold Banks Accountable for Foreclosures, Recession at Shareholder Meeting

As 50 State Attorneys General move closer to a settlement agreement with the Wall Street banks that defrauded millions of homeowners, hundreds of clergy, homeowners, and workers will attend and speak out at bank shareholder meetings across the nation in May. The month-long events are part of The New Bottom Line, a national campaign focused on creating an economy that works for the many, and not the few.

Large-scale protests with visuals such as banners, puppets, and placards with scripture are planned at Wells Fargo’s shareholder meeting in San Francisco on May 3; Bank of America’s shareholder meeting in Charlotte, North Carolina on May 11; and JPMorgan Chase’s shareholder meeting in Columbus, Ohio on May 17.

Homeowners, clergy, and American families with The New Bottom Line campaign are calling on the banks to:

  • Pay their fair share of taxes.  To help the economy recovery, banks must pay the federally mandated 35% tax rate, instead of the approximate 11% percent of their pre-tax earnings they paid in 2009 and 2010.  In addition, they should pay the $13 billion in back taxes that they owe the American people from those two years.
  • Stabilize the housing market and help revitalize the economy.  The banks should sign a settlement agreement with the 50 State Attorneys General that creates permanent loan modifications and principal reductions for defrauded homeowners.
  • Invest in American jobs.  The banks should stop shipping jobs overseas and should start making loans to small businesses to create more jobs.  For example, JPMorgan Chase has reduced small business lending by 75% in the wake of taxpayer-funded bailouts designed to spur lending.

In addition to the large-scale marches on shareholder meetings, the campaign organizers are releasing three tongue-in-cheek ads that Wells Fargo, Bank of America and JPMorgan Chase would run if they took responsibility for foreclosing on homeowners fraudulently and wrecking the economy.

“For too long, Wall Street banks have avoided paying their fair share of taxes and drove this country into a financial crisis. Not one more child should have to sacrifice her health care or education because big banks cook their books. Not one more senior should have to live in poverty because a bank shifted its profits to an overseas account,” said George Goehl, Executive Director of National People’s Action, a coalition member of The New Bottom Line.

Details about Citizen Actions at Bank Shareholder Meetings: 


What:  “Showdown in Ohio:” 1,000+ community, faith, and labor leaders will descend upon Columbus to deliver a message to Wall Street: it is time for big banks like JPMorgan Chase to pay their fair share of taxes, create jobs, and end the revenue crisis.

Visuals:  Banners, Wanted Posters, Large Puppets

Who:  1,000+ members of National People’s Action

When:  May 17, 2011 at 11:00 a.m. Eastern time

JPMorgan Chase, 1111 Polaris Parkway, Columbus, OH

Why JPMorgan Chase?  JPMorgan Chase continues to gouge communities by collecting on predatory interest rates from cities and states, has the largest number of foreclosed homes as of 2010, and has reduced small business lending by 75 percent after a government bailout designed to spur lending.

What are citizens calling for?  JPMorgan Chase must stop dodging taxes and start paying its fair share to resolve the revenue crisis; stop foreclosing on 100,000 Ohio families each year; begin stabilizing Ohio neighborhoods and tax base by keeping middle-class and working families in their homes; and start lending to small businesses to create jobs.

About The New Bottom Line campaign:

The shareholder actions are part of The New Bottom Line campaign fueled by a coalition of community organizations, congregations, labor unions, and individuals working together to build a movement that challenges established big bank interests on behalf of struggling and middle-class communities. Together, we work to restructure Wall Street to help American families build wealth, close the country’s growing income inequality gap and advance a vision for how our economy can better serve the many rather than the few.

The New Bottom Line campaign includes National People’s Action (NPA), PICO National Network,  Alliance for a Just Society, Alliance of Californians for Community Empowerment (ACCE), and Industrial Areas Foundation of the Southeast (IAF-SE) and dozens of state and local organizations from around the country.



4 Responses to “May 17th JPMorgan Chase Shareholder Meeting in Columbus, Ohio | Clergy, Homeowners, Unions to Hold Banks Accountable for Foreclosures, Recession”
  1. Equity Free says:

    What if banks were honest , fair and wanted to take responsibility for their actions …..


  2. Equity Free says:

    Keep disseminating the truth to others who have fell for the lies & propaganda by the banks . Only jail time
    by creators of these designed to fail mortgages can fix this economic crises .
    Press On Regardless

  3. TheHutMaster says:

    It is always a toss up in my office each Friday. You see, each Friday, we select the SCUM BAG Bank of the Week. It is ALWAYS a close race between BOA (Bending Over America) and the POND SCUM over at JP Morgan Chase.

    Well I am proud to announce that for 4 weeks straight, the SCUM BAG Bank of the Week ending May 13, 2001 was..,,,,, JP Morgan Chase!

    “Fight The Good Fight”

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