The New York Times' Paul Krugman includes some jolting economic figures in his Sunday magazine cover story this past weekend. Since the housing bubble popped, U.S. households have seen $13 trillion in wealth evaporate and over 6 million jobs have been lost. But the Wall Street titans who torpedoed the economy -- thanks to their vast resources and connections on Capitol Hill -- have effectively block almost any legislation that would cut into their profit margin and protect American consumers. They have also made it painfully obvious that they will fight all future efforts at financial reform as well. Progressive organizations based here in Illinois, like their senior senator, have had enough of Wall Street's intransigence.

In October, the American Bankers Association (ABA) will hold its annual convention in Chicago, which will feature appearances by conservative commentators such George Will and former House Speaker Newt Gingrich. When the financiers arrive, however, a coalition of community groups and labor organizations will be there to greet them. The Chicago-based National People’s Action, the SEIU Illinois Council (which sponsors this website), and over 30 other affiliated organizations are planning a three-day demonstration outside of the gathering at which they will "demand an end to unfair predatory banking practices that enrich banks while continuing to hamper an economic recovery." From a press release:

“The nation’s top bankers need to see that working families are furious and outraged,” said Tom Balanoff, president of the SEIU Illinois Council. “The mess these bankers created continues to force working families into the unemployment line and into home foreclosures. Meanwhile, the banking industry lobby in Washington stifles efforts to stem these foreclosures.  What have these bankers done to deserve the billions in bonuses so many of them received? We will not allow this convention to become a big party for the nation’s banks. They have done nothing to celebrate."

The organizers' hope is to not only mobilize Illinois and Chicago residents fed up with the banks, but also to attract outraged citizens from elsewhere in the country.  The first day of the protest -- October 25 -- is still a ways off, but be sure to mark your calendar.  We'll have more details as the action approaches.

UPDATE: Commenter "Toby" reminded us of this Nation article from June, in which D.C. editor Chris Hayes refers to the ABA as "the chief obstacle to a proposed bankruptcy reform bill that would let judges modify mortgages."