The People Vs. Fannie Mae & Freddie MacHan Shan on September 09, 2012
Today kicks off two days of protests—today in Atlanta and Chicago, and in Los Angeles and New York City on Wednesday—to demand an end to the abusive practices of Fannie Mae & Freddie Mac. Today, community organizations, Occupy Homes groups, and foreclosure fighters are converging from around the southeast at Fannie Mae headquarters in Atlanta.
In Chicago, foreclosure fighters and their allies will be raising a ruckus outside of both the Fannie Mae & Freddie Mac regional headquarters. Occupy Homes MN kicked off a caravan to Chicago from the Cruz family home—still sealed and patrolled by security working for PNC bank with support from Freddie Mac. They are re-igniting their campaign in support of the Cruz family today.
Here's a quick excerpt from the event listing from Occupy Our Homes Atlanta:
Fannie Mae and Freddie Mac control over 60% of the mortgages in the US. After gambling with people's money, and buying up subprime mortgages during the housing bubble, they were placed under conservatorship of the US government in 2008, receiving billions of taxpayers dollars. Now, 4 years later, they continue to put people out of their homes, and are the biggest obstacle to fixing the housing crisis. It's time to put a stop to this, and to demand the wealth that was stolen from our communities be restored.
Our demands include:
-Principal Reduction for all underwater homeowners to real market value
-and end to Fannie and Freddie Evictions, and the right to rent after foreclosure
-the sale of foreclosed properties to occupants and non-profits at the same discounted rate they are offering to shady investors
-that they turn over vacant and abandoned properties to community controlled entities to provide long term affordable housing
The Right to the City Alliance, a key force behind this week's actions, has been collecting stories from families who are fighting foreclosure by Fannie & freddie, demanding principle reduction, and organizing for housing as a human right. Check out the tumblr site RTTC has published, We Are The Fannie Freddie 99, with many compelling, heartbreaking, and inspiring stories, including photos and video testimonials.