Hudson Reporter

Activist Group Pickets Goldman Sachs JC Headquarters

The Hudson Reporter — Sunday, November 29, 2009

JERSEY CITY BRIEFS

On Tuesday, members of New Jersey Citizen Action (NJCA) and community leadership representing labor and affiliate organizations held an informational picket at the Jersey City headquarters of Goldman Sachs on Hudson Street to demand that the bank put an end to multi-billion dollar bonuses, reject the Too Big To Fail Doctrine, and use their anticipated $23 billion bonus pool to help families facing foreclosure.

"Lloyd Blankfein [Goldman Sachs CEO] and Goldman Sachs have rightfully earned the leading role in the story of 'all that is wrong with Wall Street,'" said Phyllis Salowe-Kaye, executive director of the New Jersey Citizen Action (NJCA). "Now is the time for them to start making amends for past transgressions. A good first step would include showing a little holiday spirit by directing a significant portion of their estimated $23 billion-dollar bonus pool to a fund to prevent foreclosure. It's the least they could do."

Tuesday's picket was the latest in a series of country-wide mobilizations launched earlier this month when 5,000 taxpayers converged on the American Bankers Association convention in Chicago to demand that Wall Street and big banks stop fighting reforms, followed by an NJCA picketing of AIG in Jersey City earlier this month and a picket at the Goldman Sachs offices in Washington DC spearheaded by SEIU last week.

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