On July 1, an estimated 1,000 SEIU Local 721 members, community leaders, taxpayers, city workers and clergy marched from Bunker Hill’s Financial District to City Hall to demand that City leaders hold Wall Street accountable.
This action was part of a broad movement called Fix LA, which is advocating to protect middle-class public sector jobs, restore city services, improve public and child safety and make banks and corporations pay their fair share. The march came in the wake of a unanimous vote on Monday by the Los Angeles City Budget and Finance Committee to pass a motion calling on NY Mellon and Dexia banks to renegotiate contracts with L.A.–and for the City Council to terminate business with the banks if they refuse.
“The system is broken. We need to fix it. We need to Fix LA”-Morris Jones, RCTO, East Valley Yard
The march began at Bank of New York Mellon headquarters. In 2006, the city entered into an interest rate swap deal with Mellon and another bank, Dexia, that was supposed to save the city millions of dollars. Instead, the deal has cost the city $4.8 million per year, and the banks have unfairly profited by more than $65 million since 2008–taking money that should be used by the city to provide services to our communities.
“They want the city to cut services to pay the banks, but the banks won’t take pay cuts.”Jesse Valdez, RCTO, City of LA (with his son, Jesse James Valdez)
The march from Bunker Hill to City Hall included a caravan of more than 30 waste trucks honking their horns. As the activists passed the site of the future Broad Museum, dozens of construction workers cheered them on.
At City Hall, activists marched inside the building to testify before the City Council while hundreds of protesters held a rally on the front steps. Speakers included SEIU 721 members, clergy, and members of the community.
Related link :LA Times: “Dozens of protesting trash haulers make noise around City Hall”