
Democratic gubernatorial candidate Virg Bernero and other supports of two-year foreclosure moratorium, Chase boycott
Major banks’ mortgage fraud schemes exposed across U.S.
By Diane Bukowski
DETROIT – As a flood of mortgage fraud exposures engulfed the nation’s largest banks, Michigan’s Democratic gubernatorial candidate Virg Bernero has pledged today that he would impose a two-year halt to all foreclosures upon assuming office in 2011.
“I have fought the banks tooth and nail,” Bernero told a cheering audience sporting AFSCME Council 25 t-shirts at an Oct. 8 press conference called by the newly formed “People Before Banks” Coalition.
“I see by today’s newspapers that the Bank of America has just halted all foreclosures in 50 states, as an investigation into the fraudulent practices of the banks and lenders widens. Yesterday, I confronted bank CEO’s in person at the Detroit Economic Club (DEC), telling them, ‘If you do right by the people, you’ll get along with me.’”
Bernero, mayor of Lansing, the state capitol, first announced his fight against the banks last July. He called for Michigan’s governor and treasurer to pull more than $1 billion in state deposits from JP Morgan Chase. He said that despite the government’s payment of $25 billion in TARP (Troubled Asset Relief Program) bailout tax dollars, the bank has continued to redline Michigan small businesses, driving some out of business.
On Oct. 7, local news media reported that Bernero “stunned” the audience at the DEC forum.
“If you are part of the Wall Street breed that runs over people for ever-growing profits and growing bonuses, you will have a problem, because I’ve had it,” he told the businessmen who comprise the Club’s membership. “We’re up to here with it. Enough is enough.”
Accused of “bullying” the members of the Club, he told a Detroit Free Press reporter, “I’ll tell you who feels bullied. It’s people that have been thrown out of their homes, especially by mistake, fraudulently. It’s 600 a day in Michigan, that’s who’s being bullied and that’s got to be stopped immediately, now.”
GRASS ROOTS PUSHED POLITICIANS TO TAKE STANCE AGAINST BANKS
The astounding anti-bank stance adopted by Bernero and other government officials has exploded in the wake of groundbreaking efforts by Detroit’s Moratorium NOW! Coalition against Foreclosures, Evictions, and Shut-offs. It was taken up nationally by the United Auto Workers and the Farm Labor Organizing Committee in a march of thousands in Detroit Aug. 28 and later in Washington Oct. 2. Continue reading


























