PR: Public Protest Against Banks Planned for April 11

FOR IMMEDIATE RELEASE
March 27, 2009
Contact:
Winnefred Ann Frolik
412-477-2922
wfrolik@hotmail.com
www.anewwayforward.org
 

PUBLIC PROTEST PLANNED FOR CONGRESSIONAL RESPONSE TO FINANCIAL CRISIS
 
Grassroots Group for New Financial System Launched Today
Pennsylvania Wants a New Approach to Finances
 

Pittsburgh, PA (PittsburghNewsWire.com) – The launch of the Pennsylvania NEW WAY FORWARD movement sent a strong message that Pennsylvanians want Congress to treat the banking system in a whole new way. State organizers,encouraged by the overwhelming interest in the online movement toprotest the bailouts, began an all-volunteer movement to hold protests and gather local people frustrated with the short-term thinking that has led us into the financial crisis, and does not seem to be leading us out.  These protests are currently being planned in both Philadelphia and Pittsburgh for 2pm.  The protest in Pittsburgh will be held outside the City County Building downtown at precisely 2pm Eastern on April 11, 2009.

“Geithner, Summers, and all the wall street mavens keep asking us to trust them and throw our money into the furnace.”, said Winnefred Frolik of NEW WAY FORWARD Pittsburgh.

Tiffiniy Cheng, one of the founders of NEW WAY FORWARD, welcomed the Pittsburgh contingent to the effort.  “It’s a perfect location.  We really wanted to see something close to the heartland.”

Here is New Way Forward’s platform;

Nationalize:  Experts agree that insolvent banks that are too big to fail must incur a temporary FDIC intervention-no more blank check bailouts.

Reorganize: Current CEO’s and board members must be removed and bonuses wiped out.  The financial elite must now bear the consequences of what they have done.

Decentralize: Banks must be broken up and sold back to the private market with tough new antitrust laws in place creating new banks with new managers.  If a bank is “too big to fail” then it’s too big for the free market to function.

The movement, spearheaded by a growing collection of volunteers from around the country, has grown from a single web page created by a group of young organizers in Worcestor, MA to a protest network across 14 states and is still growing.
###