Occupation of Freedom Plaza in Washington, DC Calls for Nationwide Citibank Protests
Washington, DC Occupy Movement Calls For Nationwide Shutdown of Citibank
Citigroup, one of the nation’s largest banking and investment firms, reported yesterday that their quarterly earnings are up $3.8 billion, 74% higher than a year ago. This is their seventh consecutive quarter to produce massive profits. They make massive profits while the economy is in collapse. They continue to foreclose on mortgages. They hold back loans to small businesses and consumers. They choke the economy while massively profiting.
This is a slap in the face to the average American who earns miniscule interest rates on the money they have in Citigroup banks, are unable to obtain loans and mortgages, and are being forced to pay all sorts of fees and charges just to access their own money.
Citigroup’s profits are typical of the banking industry in general who accepted billions in bailout loans from the American people, yet now seem to think that the money belongs to them personally.
Members of the occupation of Freedom Plaza in Washington DC (www.october2011.org) are calling on people across the United States to express their outrage with Citigroup and the banking industry that is making record profits off the backs of the working people, by demonstrating at Citibank locations everywhere on XX October 2011. We are asking people to express their outrage in a very visible and audible way in order to shut these banks down for an hour, for a day—and to continue to put pressure on the banking industry indefinitely.
Here are some talking points:
1. Citigroup has paid ZERO corporate taxes for the last four years.
2. Citigroup has 427 subsidiaries in foreign tax havens to hide their profits.
3. Citigroup was the LARGEST recipient of federal bailout money-- $476 billion.
4. CEO John Havens receives $9.5 million annually, while paying their tellers $12.65 an hour.
5. Citigroup just posted a 3rd quarter net profit of $3.8 billion, a 74% increase over last year.
6. Their largest stockholder is the nephew of Saudi King Abdullah.
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