Progress Illinois

After actions at the local headquarters of Wall Street giants Goldman Sachs and Wells Fargo, the Showdown in Chicagocontinued this afternoon outside the downtown Sheraton, where theAmerican Bankers Association is holding its annual conference. At theevent, we talked to numerous Showdown participants, many of whom arelosing their homes or their savings.  Their stories illuminated thedeep suffering caused by the banking industry's drive to put profitsabove all else.

After trying for more than a year to have her mortgage modified soher family could remain in their Springfield home, Trenda Kennedy toldus that she is outraged and disgusted atBank of America's decision to reject her request while spendingmillions to lobby Congress.  Indeed, as more and more Americans faceforeclosure, the industry continues to devote staggering amounts ofmoney to block regulatory reforms on Capitol Hill.  So far in 2009, thenation's largest commercial banks have spent upwards of $27 million onlobbying expenses, the Center for Responsive Politics reports.  That's in addition to the $50 million they spent in 2008 -- the same year the industry collectively cashed $700 billion bailout check.

"That $27.6 million could have kept so many people in their homes,"Kennedy told us.  "The banks, my bank, Bank of America, got $45 billionin bailout money. What's a $100,000 mortgage to them? It's a drop inthe bucket." Watch her call on Congress to pass Illinois' own Sen. DickDurbin's cramdown legislation to "force the banks to work with people":

Rev. Robert Bushey of Decatur echoed that message, telling Congressit's time to rein in the banks. "They made our financial systemcollapse, and with their big money -- some of which they got from us --they're lobbying Congress," Bushey said. "[W]e want to reclaim ourdemocracy. We want to say to Congress, you have to chose people overprofit." Watch:

Meanwhile, retired family farmer Larry Gintervoiced support for a moratorium on foreclosures. "People shouldn't belosing their homes because they're losing their jobs, or because theyget sick," he said. "That's just wrong. We should be keeping people intheir homes and the banks should be stepping up to help. And they'renot."

At 10:30 am tomorrow, these folks will be joined by thousands moreas they take their calls for reform back to ABA's door. The marchbegins at the corner of Stetson and Wacker Drive with arally in front of the Sheraton at 11:00. We'll be there. Will you?