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Protesters Disrupt Wells Fargo Shareholder Meeting – Demand Moratorium on Foreclosures

by Jonathan Nack
Protesters begin to mass at The Merchants Exchange Building, 465 California Street, San Francisco, where Wells Fargo was holding its Annual Shareholder Meeting, on May 3, 2011
Action to Hold Wells Fargo Accountable, May 3, 2011
Photo: Jonathan Nack
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Protesters Disrupt Wells Fargo Shareholder Meeting – Demand Moratorium on Foreclosures

By Jonathan Nack May 6, 2011

OAKLAND, CA – Hundreds of community members, workers, and even some shareholders, disrupted the Annual Shareholders Meeting of Wells Fargo, held in San Francisco on May 3, 2011. The protesters demanded, “an immediate foreclosure moratorium,” according to organizers.

Unlike other big banks, Wells Fargo has yet to change it's foreclosure procedures, the protesters charged in a press release. More than two years into the government's Home Affordable Modification Program, Wells Fargo has agreed to modify only 22 percent ( 77,402 out of 350,169) of it's loans which qualify for the program.

The protest began with hundreds gathering for a short rally at Justin Herman Plaza at the Embarcadero in San Francisco, at 11:30 am.. Then they received marching instructions from Miss Shirley of Oakland ACCE (Alliance of Californians for Community Empowerment). [ http://www.calorganize.org/ ]

They marched from Embarcadero, up Market Street, to the Merchants Exchange Building at 465 California Street, where Wells Fargo was holding it's Annual Shareholder Meeting.

There was a brief rally in front of the the Merchants Exchange Building. Among the speakers was Betty Olson-Jones, President of the Oakland Education Association (OEA), who said that she, as a shareholder was about to go inside to bring the protesters demands into the Annual Shareholders Meeting, and that there were other shareholders inside who would support her.

Subsequently, the proceedings of the Annual Shareholders Meeting were delayed and disrupted for about an hour by protesting shareholders, according to Bill Chorneau, Spokesperson for Oakland ACCE.

Meanwhile, hundreds of protesters formed a picket line outside the building and chanted loudly, urged on by a powerful sound system. The picket line extended the entire length of the 400 block of California Street.

Eight protesters were arrested for committing an act of civil disobedience – sitting down and blocking the entrance to the building - according to Chorneau.

The protest was organized by The New Bottom Line campaign. The New Bottom Line is a nationwide network that includes the National Peoples' Action, PICO National Network, Alliance for a Just Society, ACCE, and Industrial Areas Foundation of the Southeast, as well as dozens of state and local organizations. [ http://newbottomline.com/ ] The protest was also supported by a number of unions, including SEIU and AFSCME.

“Today is a very personal day for my family. Since 2005, I have been fighting Wells for wrongful foreclosure, “ said San Leandro resident Donna Vieira. “But through this process, I have learned that I am not alone. A quarter of the foreclosures in this country happened right here in California, and 700,000 families are in foreclosure right now. We need these banks to have a new bottom line that includes investing in our communities,” said Vieira.

The San Francisco Bay Guardian reported that “hundreds” participated in the protest. [ http://www.sfbg.com/politics/2011/05/04/hundreds-protest-wells-fargo-shareholder-meeting-sf ] This reporter estimated the number from 400 to 600.
§Crwowd gathered for short rally at Justin Herman Plaza
by Jonathan Nack
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Embarcadero, S. F.
Action to Hold Wells Fargo Accountable, May 3, 2011
Photo: Jonathan Nack
§Miss Shirley gives instructions
by Jonathan Nack
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Embarcadero, S. F.
Action to Hold Wells Fargo Accountable, May 3, 2011
Photo: Jonathan Nack
§Police were ready as ever
by Jonathan Nack
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foot of Market St., S. F.
Action to Hold Wells Fargo Accountable, May 3, 2011
Photo: Jonathan Nack
§Pleople gather behind lead banner at Justin Herman Plaza
by Jonathan Nack
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Embarcadero, S. F.
Action to Hold Wells Fargo Accountable, May 3, 2011
Photo: Jonathan Nack
§Marchers leaving Justin Herman Plaza
by Jonathan Nack
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Embarcadero, S. F.
Action to Hold Wells Fargo Accountable, May 3, 2011
Photo: Jonathan Nack
§Lead banner marching up Market St.
by Jonathan Nack
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foot of Market St., S. F.
Action to Hold Wells Fargo Accountable, May 3, 2011
Photo: Jonathan Nack
§Causa Justicia/Just Cause banner
by Jonathan Nack
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foot of Market St., S. F.
Action to Hold Wells Fargo Accountable, May 3, 2011
Photo: Jonathan Nack
§Honor Labor
by Jonathan Nack
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foot of Market St., S. F.
Action to Hold Wells Fargo Accountable, May 3, 2011
Photo: Jonathan Nack
§TV corporate press was there, but there was scant coverage
by Jonathan Nack
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foot of Market St., S. F.
Action to Hold Wells Fargo Accountable, May 3, 2011
Photo: Jonathan Nack
§SEIU contingent
by Jonathan Nack
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foot of Market St., S. F.
Action to Hold Wells Fargo Accountable, May 3, 2011
Photo: Jonathan Nack
§Central Labor Council banner
by Jonathan Nack
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foot of Market St., S. F.
Action to Hold Wells Fargo Accountable, May 3, 2011
Photo: Jonathan Nack
§Stop Housing Cuts
by Jonathan Nack
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foot of Market St., S. F.
Action to Hold Wells Fargo Accountable, May 3, 2011
Photo: Jonathan Nack
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foot of Market St., S. F.
Action to Hold Wells Fargo Accountable, May 3, 2011
Photo: Jonathan Nack
§Motor cycle Police leaving Embarcadero
by Jonathan Nack
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foot of Market St., S. F.
Action to Hold Wells Fargo Accountable, May 3, 2011
Photo: Jonathan Nack
§Protester arrive at Wells Fargo Shareholder Meeting
by Jonathan Nack
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The Merchants Exchange Building, 465 California St., S. F.
Action to Hold Wells Fargo Accountable, May 3, 2011
Photo: Jonathan Nack
§Betty Olson-Jones, Pres. OEA, speaks at Rally
by Jonathan Nack
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The Merchants Exchange Building, 465 California St., S. F.
Action to Hold Wells Fargo Accountable, May 3, 2011
Photo: Jonathan Nack
§Police lined the perimeter
by Jonathan Nack
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The Merchants Exchange Building, 465 California St., S. F.
Action to Hold Wells Fargo Accountable, May 3, 2011
Photo: Jonathan Nack
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