Progress Illinois

Last week at this time, thousands of outraged taxpayers and activists were taking to the streets to protest the banking industry's destruction of the economy and obstruction of much-needed financial regulatory reform.  Whether you missed the action or were in the thick of it, be sure to check out this great video recapping the Showdown in Chicago (produced by Heather Stone for the SEIU Illinois State Council, which sponsors this website):

Those interested in learning more about the Showdown should check out this wrap-up of our three days of coverage.

A good deal of our coverage of the Showdown in Chicago has focused on the folks behind the microphones -- nation figures like Dick Durbin, Anna Burger, Richard Trumka, Andy Stern, and Sheila Bair, as well as local leaders such as Tom Balanoff, Rev. Tony Pierce, and Denise Dixon.  Now that the actions have all come to an end, what about the everyday folks on the ground?  The ones who traveled from Iowa or New York or Springfield or the South Side to make their voice heard.  The following video gives a sense of why they came to Chicago and what they've been saying over the past three days:

If you're just learning about the Showdown, you can find all of our coverage -- including lots and lots of video -- here. 

Earlier we covered the large march that started the third and final day of the Showdown in Chicago (catch up on days one and two here).  After making their way across the Chicago River, the thousands of protestors congregated in front of the Sheraton Hotel (home to the American Bankers Association annual conference), where they heard from an array of speakers, some locally-based and some from the national stage.  Among them were Change to Win chair Anna Burger and Tom Balanoff, president of the SEIU Illinois State Council (which sponsors this website).  "Did [the bankers] build anything? Create anything? Do anything?" Burger asked the crowd, which repeatedly responded "No!" Watch some excerpts from their remarks:

We'll have more video from the rally as the day goes on.  Be sure to check back.

3:06 p.m.: Here's a taste of the speech given by Angenita Tanner, a child care provider and member of SEIU Healthcare Illinois/Indiana.  "America bailed out the banks," she told the crowd. "But the banks aren't bailing out the people!"  Watch it: 

Here's more footage, courtesy of SEIU and National People's Action:

4:15 p.m.: And here is AFL-CIO President Richard Trumka addressing the protestors:

Finally, Action Now's Denise Dixon told the crowd that the bankers "had the nerve to have a party in Chicago and didn't invite us." "We came anyway!" a marcher yelled back. Watch it:

Today marks the final day of the Showdown in Chicago and it began with a huge march across the Chicago River to the downtown Sheraton, home to the American Bankers Association's annual conference.  As of 11 a.m., thousands of participants were streaming up to the hotel, where they will hear from a variety of speakers, including AFL-CIO president Richard Trumka and Change to Win chair Anna Burger. 

We'll have photos, video, and more updates from the event as the day goes on.   

11:35 a.m.: Here's the view of the Sheraton rally from above:

11:45 p.m.: Chicago laborer Marcus Moore tells us why he's taking part in today's march, saying that the economic problems facing his community "started at the top and it trickles down.  And it's affecting us pretty hard.  And I think the banks are to blame."  Watch it:

12:00 p.m: Before the marchers took off for the Sheraton, SEIU International President Andy Stern addressed the crowd, saying "If anyone is confused about why we're here, let me tell you: It's because we love our country."  Watch it:

Here are some more images from the march:

After actions at the local headquarters of Wall Street giants Goldman Sachs and Wells Fargo, the Showdown in Chicagocontinued this afternoon outside the downtown Sheraton, where theAmerican Bankers Association is holding its annual conference. At theevent, we talked to numerous Showdown participants, many of whom arelosing their homes or their savings.  Their stories illuminated thedeep suffering caused by the banking industry's drive to put profitsabove all else.

After trying for more than a year to have her mortgage modified soher family could remain in their Springfield home, Trenda Kennedy toldus that she is outraged and disgusted atBank of America's decision to reject her request while spendingmillions to lobby Congress.  Indeed, as more and more Americans faceforeclosure, the industry continues to devote staggering amounts ofmoney to block regulatory reforms on Capitol Hill.  So far in 2009, thenation's largest commercial banks have spent upwards of $27 million onlobbying expenses, the Center for Responsive Politics reports.  That's in addition to the $50 million they spent in 2008 -- the same year the industry collectively cashed $700 billion bailout check.

"That $27.6 million could have kept so many people in their homes,"Kennedy told us.  "The banks, my bank, Bank of America, got $45 billionin bailout money. What's a $100,000 mortgage to them? It's a drop inthe bucket." Watch her call on Congress to pass Illinois' own Sen. DickDurbin's cramdown legislation to "force the banks to work with people":

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The Showdown in Chicago continues ... Via SEIU and National People's Action, here's some great video of a surprise rally that followed the Goldman Sachs protest we highlighted earlier.  Many of those same demonstrators headed over to Wells Fargo's office building and gathered in the lobby, chanting: "Bailouts? No thanks! Bust up big banks!."  When security finally escorted them from the premises, the crowd yelled in unison, "We'll be back!  We'll be back!" Watch it:

During the subprime mortgage boom that led to the financial crisis, Wells Fargo was easily one of the worst actors.  In recent months, several lawsuits filed across the country (including here in Illinois) have alleged that the bank targeted minority homeowners for high-interest mortgages while offering cheaper deals to white customers. Moreover, local unions have spent much of this year fighting Wells Fargo's efforts to cut off credit to companies like Hartmarx and Quad City Die Casting.  In fact, the United Electrical Workers (who represent the Quad City employees) were on hand in Chicago today and can be seen briefly in the video above.

In other Showdown news, be sure to read the Nation's Esther Kaplan on the first evening of action.

This morning marked the second day of the Showdown in Chicago.  It started with a speech by Federal Deposit Insurance Corporation (FDIC) chair Sheila Bair, who strongly expressed her support for the formation of a Consumer Financial Protection Agency (she is also scheduled to address the American Bankers Association conference today).   "I don't know how anyone can say we've done a good job protecting consumers in financial services," Bair said.  "So we need this new agency."  Watch some clips from her appearance, in which she also declared, "No more bailouts!":

Later in the morning, hundreds of protestors headed over to 71 S. Wacker, the Chicago headquarters of Goldman Sachs -- by far the most powerful bank in the country.  Below is some video from that racuous action:

Also, here's the fiery conclusion of Rev. Tony Pierce's speech at yesterday's event (Pierce is the vice president of the Central Illinois Organizing Project):

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Yesterday marked the kick-off of the Showdown in Chicago, three days of actions countering the American Bankers Association's annual conference here in the Windy City.  Nearly a thousand activists and mobilized taxpayers from across the state and country arrived in buses and streamed into the downtown Hyatt where a string of speakers fired up the crowd.  One of them was Larry Ginter of the Iowa Citizens for Community Improvement, who asked the crowd to show how they've been affected by the banking industry's destructive policies.  Watch it: 

Following Ginter was Tom Balanoff, president of the SEIU Illinois State Council (which sponsors this website): 

Later, Sen. Dick Durbin took the podium, where he told the story of Chicagoan Nettie McGee: 

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The Showdown in Chicago kickoff is just 48 hours away, with events on Sunday and Monday leading up to a major protest outside the American Bankers Association conference on Tuesday morning.  That final march and rally will feature speeches from two of the country's most prominent labor leaders, AFL-CIO President Richard Trumka and Change to Win chair Anna Burger.  Today, both of them have items up on the Huffington Post about the event.

Here's Trumka:

[T]he bankers are doing the Charleston, taking taxpayer money, handing out bonuses for disastrous failure, becoming profitable without lending money that could put people back to work -- and spending billions lobbying Congress to kill financial reform.

Shameless. Absolutely shameless.

On Tuesday, about 5,000 of us will be in Chicago to tell them what we think.

It's called the Showdown in Chicago. We're gathering outside the American Bankers Association meeting to demand financial reform and re-regulation that will allow us to rebuild our communities, our lives and the real economy.

We've got a lot to rebuild.

And here's more from Burger:

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