Wednesday, September 10, 2008

Tenant activists kick their own funders

Bank of America just funded an illegal attack against itself. Their funding supports the City Life/Vida Urbana tenant activists who trespassed and got arrested recently (Sept 08). No doubt they thought they were doing an act of civil disobedience in the tradition of the civil rights movement. They were protesting the eviction of a woman who had defaulted on her Bank of America mortgage and wanted to stay in her home in the new status of tenant. The activists tried to stop the removal of her belongings. I don't agree with the activists; owners-turned-tenants living in foreclosed homes will only slow down the turnover of the housing to new owners and aggravate the current foreclosure crisis. That's why the Massachusetts legislature refused to pass a just-cause eviction bill to keep such tenants in possession of their previous homes. I will stay neutral on the issue of civil disobedience itself. What amazes me is that large institutions are financially backing these activists in their illegal activity. The City Life/Vida Urban website (www.clvu.org) lists several banks (Citizens, Bank of America, Sovereign), The Boston Foundation, The Boston Bar Association, the City of Boston itself, and the United Way of Massachusetts Bay among a host of other financial supporters. The targeted mortgage-holder in the reported foreclosure story was Bank of America itself. The bank's own funding was being used against it. There must be a huge "disconnect" between these supporters and the activists at City Life/Vida Urbana. If they knew what they were supporting, they would certainly pull their funding.

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