Workers Protest Bailout Proposal

Not Enough Oversight, Say Organizers

A small group on the corner of Carrillo and Chapala streets protest: "No Bush Bailout"
Paul Wellman

A group of about five people met on the corner of Chapala and Carrillo streets-near Ralphs supermarket-on Wednesday afternoon, October 3, to protest the planned $700 billion bailout of failing Wall Street financial institutions, two days after one such proposal was defeated in the House of Representatives. Holding signs decrying plans to bail out the corporations, and blaming President George W. Bush for the mess, protestors received honks and supportive waves, as well as derisive shouts, such as, “Go to work!” and “It wasn’t Bush, it was Congress, you idiots!”

“This is feudalism,” said Marge Schwartz. “It’s welfare for the corporate people who caused the problems.” She added, “They call this a free market, but they won’t let you compete with fossil fuel by growing hemp.”

Lauren McElroy, who organized the protest with Marcelino Sepulveda through an online list server, said that they objected to the bailout’s lack of oversight and the many “golden parachute” corporate executive severance packages she said would still be protected at taxpayer expense. “I think the American public has gotten very little detail about the legislation, and we’re being scared into haste, much like Iraq,” she said. “This is a really important deal and we need to take some time to do it correctly.”


Please note this login is to submit events or press releases. Use this page here to login for your Independent subscription

Not a member? Sign up here.