National People’s Action, Unions Stage ‘Showdown on K Street,’ Push Financial Reform

Sara Peck

At high noon on K Street in Washington today, more than 2,000 people from 20 states called for financial reform, rallying at McPherson Square and outside the Treasury and several big-name corporate offices, including Bank of America.

The action, part of what National People’s Action (NPA) has dubbed the Showdown in America,” brought together the Service Employees union, AFL-CIO and Jobs With Justice. Their goals? End corporate lobbying and too-big-to-fail financial institutions.

The festivities began on Sunday afternoon as throngs of protestors waving signs yelled personal stories into megaphones outside the homes of Bank of America’s Deputy General Counsel for Bank Regulatory and Public Policy, Gregory Baer, and Peter Scher, Executive VP of Government Relations of JPMorgan Chase.

NPA has pushed for an independent auditing consumer protection agency, regulation of the derivatives market and federal regulation (rather than just registration) of hedge funds. Other labor organizations have also called for regulations of securities brokers and a cap on bank size. Senators continue to amend the Restoring American Financial Stability Act.

Please consider supporting our work.

I hope you found this article important. Before you leave, I want to ask you to consider supporting our work with a donation. In These Times needs readers like you to help sustain our mission. We don’t depend on—or want—corporate advertising or deep-pocketed billionaires to fund our journalism. We’re supported by you, the reader, so we can focus on covering the issues that matter most to the progressive movement without fear or compromise.

Our work isn’t hidden behind a paywall because of people like you who support our journalism. We want to keep it that way. If you value the work we do and the movements we cover, please consider donating to In These Times.

Sara Peck, a spring 2010 In These Times editorial intern, is a Northwestern University student studying journalism and political science.
Illustrated cover of Gaza issue. Illustration shows an illustrated representation of Gaza, sohwing crowded buildings surrounded by a wall on three sides. Above the buildings is the sun, with light shining down. Above the sun is a white bird. Text below the city says: All Eyes on Gaza
Get 10 issues for $19.95

Subscribe to the print magazine.