Occupy Charlotte group rallies at Bank of America HQ : News-Record.com : Greensboro & the Triad's most trusted source for local news and analysis

CHARLOTTE (MCT) -- Hundreds chanted in unison "We are the 99 percent," as they marched down through uptown Saturday during Occupy Charlotte, a peaceful protest serving as a symbol for the community's discontent with current economic conditions.

Occupy Charlotte began at 3 p.m. in front of the old City Hall building as 500-600 protesters made their way toward the Bank of America headquarters at Trade and Tryon streets.

The protest was the latest in a nationwide wave of "Occupy" protests that first began with Occupy Wall Street in New York three weeks ago.

Picket signs read: "Are you the solution or the problem?," "Don't send jobs overseas," and "Big $$$ bought my supreme court."

Cindy Nelson and Jerry Nelson of Mint Hill said they attended the protest because they were "fed up with the way government is run by money," Cindy Nelson said.

"We're not in debt and we're not without income...but we've got to stand up for those without," she said.

In some of the other protests across the country, there have been reports of arrests and violence.

Several Charlotte-Mecklenburg police officers were on hand as protesters gathered outside Bank of America, occasionally asking them to remain on the public sidewalk and not on the bank's property.

Capt. Jeff Estes said this evening that no one connected to the protest had been arrested.

Pedestrians stopped to watch from across the street, and the crowd cheered as passing drivers beeped their horns.

"This is day one of a long occupation," an organizer shouted to the crowd.

Around 4:45 p.m., the protesters returned to the grassy area in front of the old city hall on Trade Street, which organizers dubbed "ground zero."

Organizers have said some of their supporters plan to camp on the lawn for up to a year. About 70 had pledged to do so, but it's unclear how many will remain.

"This is just the first step," said Thomas Shope, who helped organize Occupy Charlotte. "We are getting a grassroots movement going."

ravencottage

October 9, 2011 - 8:44 am EDT

Bank of America headquarters? What utterly silly people. No one has to be a customer of Bank of America. I canceled all my accounts at BOA a couple years ago after finding out it was giving big bucks to ACORN.

Panacea

October 9, 2011 - 8:56 am EDT

BoA is merely a symptom of the greater problem of financial mismanagement of the banking system. A lot of people have been hurt by banking's recklessness during the housing boom and crash. The big banks got bailed out--that had to happen to prevent a depression, but a lot of people are still angry that Main Street never got bailed out, that the people responsible for our financial mess haven't been held accountable (NO ONE has gone to jail, few have been fire, many are still pulling in six figure or greater bonuses), they've fought reasonable regulation tooth and nail, and now are raising fees and blaming the consumer or blaming the government for their woes.

No wonder people are angry.

I had an account there when they were still Nation's Bank. They gave me bad financial advice, tricked me into consolidating debt with them and then demanding immediate repayment in FULL 30 days later, then LOST my account after I had made a payment plan that I paid faithfully on. I called 13 offices coast to coast and no one could tell me who was in charge of my account, how much I owed, how I could pay it off, why they suddendly started rejecting my checks . . . nothing! Two years after that they sold the account to a vulture collections firm who started charging me INTEREST on the amount owed (I lived in California, it's legal there, not legal here).

That's why I will NEVER have anything to do with Bank of America. I don't give a rat's butt who they donate to--my problem with them is they are a bunch of incompetent crooks.

Best wishes to Occupy Charlotte. I'm cheering from here.

Mad Dog

October 9, 2011 - 9:43 am EDT

Panacea sounds like Dr. Mary Johnson. All of these war stories are getting old.

The Community Reinvestement Act played a big part in the mortgage boom for ALL banks. It required them to make a certain amount of loans in neighborhoods they would not normally lend in. And the last article I read said the banks have paid back their government loans.

And to all of you bloggers out there, be careful with your name calling. Just because it's written on a blog, doesn't mean it can't be interpreted as libel.

Traveler

October 9, 2011 - 10:55 am EDT

I have a questions about "all the banks have repaid their loans". Last I saw, dozens of smaller, community type banks still owed some or all of their loans. AIG (debatable whether a bank or not, but certainly a financial services company, and probably the most responsible for current economic mess) still owes a ton. The lending arms of the car companies still owed their loans.

The last figures I saw were a few months ago. If these loans have been repaid, then I stand corrected.

I think all of us are angered by the companies that still paid large compensation while receiving taxpayer loans. More people should have been fired (yes, especially at the top). They knew or should have know they were over-leveraged and making too many risky business decisions in order to show large short term profits.

Being able to protest in this country is a good thing.

Will camping out on the city hall ground for a year help anything? I don't think so.

October 9, 2011 - 11:47 am EDT

BoA did pay back all their bailout money. They didn't like the conditions the government stuck them with, so they paid those loans off lickety split.

October 9, 2011 - 6:19 pm EDT

Right. BOA has repaid the loans for BOA and Merrill Lynch... Some other financial institutions have not.

October 9, 2011 - 11:46 am EDT

Ouch! Well, mea culpa; I enjoy running my mouth. I think the comparison to Mary is a bit unfair though, since I don't have the paranoid delusion that the establishment of Randolph County is out to get me.

As for what I said about BoA: it's not libel if it's the truth. Since it is, and since I still have the documentation, I'm not sweating it.

luvdowntowngso

October 9, 2011 - 9:52 am EDT

I hope these protesters at least picked up litter as they marched through uptown Charlotte., otherwise their efforts were useless. These socialist, spoiled, tree bark eating people have no clue what they are protesting or what the solution to the problem should be. Well they are protesting in Wall Street, so we might as well show out support. It is a case of monkey see, monkey do!

October 9, 2011 - 11:48 am EDT

They do know what they are protesting: the influence of corporate money in Washington.

They have the right to protest, whether you think they are spoiled or not.

October 9, 2011 - 6:25 pm EDT

Strange... when unions could contribute unlimited funds to campaigns it was ok... now that businesses can do the same, it's awful... where's the consistency?

October 9, 2011 - 7:51 pm EDT

Unions were bound by the same rules on political donations that corporations were.

It is NOT OK for them to donate unlimited cash any more than it is OK for corporations to.

hgals01

October 9, 2011 - 10:40 am EDT

Panacea why aren't you protesting auto makers? Do you think we will see any money from their bailouts? Do you understand the bill the senate dems passed "Dodd-Frank, Durbin Rule"? Without the big banks in this country nothing would get done and jobs created? We all need to pursue personal responsibility and not blame others! You need to occupy the Governor's office, Senate Dems, and the White House for creating the worst economy in history in the past 2 years!

October 9, 2011 - 2:02 pm EDT

I did criticize automakers when they got their bailouts. I didn't think they should get them.

I do understand both Dodd Frank and the Durbin rule: these are sensible regulations intended to reign in the worst financial abuses and is long over due.

Personal responsibility is one thing, but all too often it becomes an excuse to do nothing when people are getting ripped off. Even people in the financial industry really don't understand how CDO's work; when even the experts don't get it, how can Average Joe be expected to?

The responsibility for who created these problems is complex. Republicans bear responsibility through their repeal of Glass-Steagall (Clinton must share in that, he signed it), and similar pushes to deregulate the financial sector. Bush, for the Community Reinvestment Act. Banks, for reckless investing in securities NO ONE really understands, and for giving out money to anyone with a pulse. Citizens, for believing housing markets can never go down and for taking more debt than they could afford--but the banks also for allowing them to do so (banks ultimately have the last word;they don't have to extend credit to anyone).

These problems predate the Obama administration. They have little to do with the Governor's office.

Doug Johnson

October 9, 2011 - 11:13 am EDT

The protests in NY, were asked, why they were not protesting the car bailouts.
Neither had a answer. Of course the unions made out on them.
We lost 1..5 billion on Chrysler and we lose billions on GM.
Panacea, hates the Tea Party for protesting the nations debt.
Yet she praise these folks for, protesting banks debts.
Go to Drudge Report and look at this guy crapping ion a police car.
If the Tea Party had done this, the liberal media would have made it front page news.

beach35

October 9, 2011 - 2:35 pm EDT

Do you know who should be protesting? BOA shareholders, including Warren Buffett. Their stock has been getting killed, yet they just gave two fired executives huge severance packages. Whether you are customer or a shareholder, either way BOA finds a way to screw you.

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