FOR IMMEDIATE RELEASE

MEDIA ADVISORY                      
January 8, 2009                                                                                  

 January 15th Martin Luther King March to “Bailout” Banks:

“Billions for banks: What’s in it for Main Street?”

 WHAT:      Approximately 100 community members from throughout California will march to all of the major banks that have received over $150 billion of taxpayer money in the current Washington D.C. bailout program.  Marchers will deliver to each bank a list of seven Pro-Main Street principles.   The banks include Bank of America, Citigroup, JP Morgan Chase, Wells Fargo, and U.S. Bancorp, as well as the new mega banks Goldman Sachs and Morgan Stanley.  Community members will be accompanied by a Mariachi Band that will serenade each bank along the route.  The march will end with a confirmed meeting with the senior management of the Federal Reserve at 101 Market Street, San Francisco.

WHEN:      Thursday, January 15, 2009 (Martin Luther King Jr. Birthday)

     11:30 a.m. – 12:00 p.m. (press conference)

Marchers will then proceed down California Street for meetings with Wells Fargo, JP Morgan Chase, Citigroup, and US Bancorp and culminate with a meeting at the Federal Reserve at 1:30pm.

WHERE:   Outside the Lobby of the Bank of America Building

  555 California Street

  San Francisco, CA

SUMMARY OF PROTEST: Orson Aguilar, the Executive Director of the Greenlining Institute said, “It is time for Main Street to offer the Obama Administration and the new Congress its views on multi-billion dollar bank bailouts. More than 100 community leaders who have worked with and criticized the banks who have received the bailouts will gather to confront them on excessive executive compensation, unnecessary foreclosures, lack of lending to small businesses and low-income homeowners, and the need for expanded philanthropy during a major recession. At our meetings with the banks and with the Federal Reserve, we will present “7 Main Street Principles” that should either be enacted into legislation with President Obama’s support or voluntarily embraced by the major banks.”

Len Canty, the Chair of the Black Economic Council said, “Beginning in 1966, Dr. King informed President Johnson and the nation that civil rights included economic rights. This Martin Luther King day message to our new President is consistent with Dr. King’s message and will be followed up with meetings in Washington DC within the first 50 days of the Obama Administration taking office.”

Faith Bautista, the Executive Director of Mabuhay Alliance said “15 million Asian Americans depend upon the banking industry to assist them in their desire for homeownership and for small business lending.  We call upon the banks to embrace Dr. King’s message and the Obama message of partnerships.”

CONTACT:

Orson Aguilar                                                                                  Preeti Vissa

Executive Director                                                                           Program Manager

(510) 926- 4005 office                                                                   (510) 926-4022 office

(510) 552-0493 cell                                                                         (408) 234-1956 cell

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Attachment – Flyer