Mr. Auctioneer! New Yorkers Call for Moratorium on Foreclosures. Organizing for Occupation and Occupy Wall Street visit the courts!
Posted 10 years ago on Oct. 13, 2011, 2:13 a.m. EST by anonymous
New Yorkers will gather outside the Kings County Supreme Court on Thursday, October 13 at 3 pm to raise awareness of the foreclosure auctions that take place there each week.
Every week in New York City, in all five boroughs, homes are put up for auction and sale. Speculators purchase homes at discounted rates and flip them. Banks buy back homes to balance their books, evicting the homeowners and letting the homes lie vacant.
Wall Street is the cause of this systematic displacement of New Yorkers. Wall Street bankers turned mortgages into “securitized instruments” and sold them for profit. Their greed demanded the creation of more and more mortgage-backed securities. Without blinking, they used predatory loans to lure homeowners into mortgages with impossible—and unseen—interest rates.
Occupy Wall Street and Organizing for Occupation (the group that led the eviction blockade at Mary Lee Ward’s Bed-Stuy home on August 19, 2011) have teamed up to raise awareness about the weekly auctions and to hold Wall Street accountable for the foreclosure crisis!
OCCUPY WALL STREET and ORGANIZING FOR OCCUPATION calls for an IMMEDIATE MORATORIUM ON ALL FORECLOSURES IN NEW YORK STATE until loans are made fair and sustainable!
Thursday, October 13, 2011, at 2:30 pm Kings County Supreme Court, 360 Adams Street, Brooklyn Rally in Columbus Park (next to Borough Hall) 2/3 and 4/5 to Borough Hall, N/R to Court Street, A/C/F to Jay Street
Organizing for Occupation web site: http://www.o4onyc.org