Thursday, September 25, 2008

Demand That Congress Votes No on Tentative Agreement to Give a Trillion Dollar Taxpayer Bailout to the Bankers: Demonstrate Today Starting on Woodward at Jefferson, 4:30pm

For Immediate Release

Media Advisory

Event: Protest Bankers' Bailout, Thurs. Sept. 25, 4:30 p.m.
Location: Gather at the Spirit of Detroit on Woodward
March Through the Financial District Downtown
Contact: Moratorium Now! Coalition to Stop Foreclosures and
Evictions, CUM Church, 23 East Adams, 4th Floor
Tel. 313.887.4344 or 313.671.3715.
Web site:

Urge Congress to Vote No on Trillion Dollar Handout to the Bankers! Bailout the People, Not the Banks! Demand a Moratorium on Foreclosures Now! Not One More Penny for Wall Street!

Amid the financial collapse of the United States, the Moratorium Now! Coalition to Stop Foreclosures and Evictions will march through the Financial District in downtown Detroit on Thursday, Sept. 25, beginning at 4:30 p.m.

We strongly object to the tentative agreement by the Treasury Department and Congress to give at least $1 Trillion to the criminal bankers who have robbed the people of the United States by defrauding them of their houses, pension funds and savings accounts. The people must mobilize to demand that Congress rejects this proposal which will be voted on in a few days. We must stand up and insist that there be no more handouts to the bankers. We, the people, need relief, not the bankers, who have already been given $900 Billion this year. This taxpayer money has done nothing except deepen the current economic crisis in the U.S. and the world.

We will assemble at the "Spirit of Detroit" on Woodward at Jefferson and march past the banks who are robbing us blind and stealing our homes.

Organizers for the Moratorium Now! Coalition to Stop Foreclosures and Evictions are calling on people to take to the streets of the Detroit Financial District demanding the immediate passage of Senate Bill 1306, which would impose a halt to foreclosures for two years in the state of Michigan.

The demand for a moratorium on foreclosures becomes more urgent everyday amid the proposed Congressional $1 Trillion bailout of Wall Street firms who are responsible for the worse economic crisis since the Great Depression.

All of the proposals advanced by the United States Treasury Department and Congress say absolutely nothing about bailing out the millions of households who are facing foreclosure, escalating fuel, food and energy prices, the lack of employment, health care and quality education throughout Michigan and the country as a whole.

We must take to the streets now! We must demand that this swindle stop immediately and that the trillions of our tax dollars handed over to the military and the bankers be utilized for the needs of the people.

Moratorium Now! Coalition Demands

Demand that the first item in any emergency federal legislation be protection for the victims of this crisis, the millions facing foreclosures and millions of others who are seeing their communities destroyed by the foreclosure epidemic brought on by the predatory lending and fraud of the financial industry.

Demand the enactment of an immediate 2 year federal moratorium on all foreclosures. Such a moratorium is mandatory under federal law, which mandates the imposition of a moratorium on foreclosures whenever there is a declaration of a State of Emergency.

During the moratorium, an oversight committee of community representatives, civil rights organizations, unions should review and adjust every mortgage in the country, so people’s home payments reflect the real values of their homes and their ability to pay. Such oversight cannot be left to the bankers or even to federal judges who are often disconnected from the reality facing working people today.

Demand that rather than spending $1 trillion of taxpayer money to bail out Wall Street, that money be used to guarantee people’s needs, for decent jobs, health care, education, etc. It is the decline in wages, massive restructuring that has eliminated millions of decent paying jobs, and spiraling health costs that in large part has brought on this crisis, forcing people to take out unaffordable predatory loans just to survive.

The Moratorium Now! Coalition has been pressing for a statewide moratorium on foreclosures in Michigan and recently held a demonstration in Lansing, MI to support SB 1306, which would put such a moratorium into effect.

The Coalition is also demanding that new Detroit Mayor Kenneth Cockrel declare a State of Emergency in Detroit, the hardest hit city in the country by the foreclosure epidemic with an 18% home vacancy rate, and formerly apply to Governor Granholm to place a moratorium on foreclosures in Detroit pursuant to MCL 10.31.

For more information call (313)671-3715, (313)319-0870 or (313) 887-4344.

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