Labor Contingent Supports Saturday’s People’s Climate March

From Madison’s Labor Radio,

By Doug Cunningham

Fourteen hundred organizations are supporting The People’s Climate March in New York City this Saturday. It’s being billed as the largest climate march in history, demanding action to protect the world from the impact of climate change caused by human pollution. Organized labor is represented by the CWA, Connecticut chapters of the AFL-CIO and SEIU, IBEW Local 3, Teamsters Joint Council 16, National Nurses United, UAW Region 9, AFSCME DC37, TWU Local 100 and others. The march is for a future with good jobs, clean air, and healthy communities for all. Demands include a world with an economy that works for people and the planet. Labor backers say climate change must be considered a labor and social justice issue.



Unions Call On Chicago Mayor To End $100 Million A Year Bank Deals

Posted: September 17, 2014 by laborradio

By Doug Cunningham

The Chicago Teachers Union, AFSCME Council 31 and SEIU Healthcare of Illinois and Indiana are all calling on Chicago’s mayor to file for arbitration to recover millions of dollars from toxic interest rate swap deals. The unions want Mayor Rahm Emanuel to end the deals they say are costing the city of Chicago and Chicago schools $100 million a year.

The unions say banks like Bank of America and investment firms like Loop Capital are profiting from toxic interest rate swap deals at the expense of city services and education in Chicago. A similar effort is underway by a labor-community coalition in Los Angeles. Similar deals have cost the public billions of dollars nationwide. Labor-community coalitions say the banks did not properly disclose the risks involved in these deals.

When the economy was crashed in 2008 by big banks and their fraudulent and toxic complex financial instruments the aftermath created historically low interest rates. And that, ironically, has meant the banks are profiting from a financial meltdown they caused.



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