Madison, Wisconsin Homeless Demo

Ewald (
Wed, 08 Jan 1997 10:12:45 -0700

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- The alternative newsservice -


Thanks to all who have sent back email. It is nice to know there are many of you out there who are concerned about the homeless, especially as we turn in tonight knowing the temperatures are dropping and at least 300 hundred more in Madison will be joining the ranks.

Here's the latest.

Over the last week the controversy has ensued over an IBRETA report which shows that the biggest banks in the state (especially including FIRSTAR) are shortchanging the homeless shelters. A fund had been set up by law including interest from real estate accounts to go to shelters after a "reasonable" charge had been assessed. This law of course is inadequate and we need to hold our politicians accountable for their total lack of regard for the neediest, but hey this is capitalism, what do you expect, compassion?

Anyways, the hugest banks in the state are the greediest. Many small banks and credit unions have just given the interest to the shelters with no charges. According to the persons we interviewed for the IBM show last Friday, this is because the smaller banks often live in the community they serve and see it in the public interest to provide for the homeless. Go figure. The credit unions operate on a not for profit basis and while setting their own standards, have also remitted their funds.

Now we have Firstar. In 93-94 they paid $7863.42 interest on real estate accounts (prior to the 93 law, they paid zippo, using the principal for free!!). That same year they saw fit to charge $7863.42, in other words nothing to Grace Episcopal or any other place serving families and children down on their luck.

In Milwaukee the service charge was in excess of $23, 000. This is highly unreasonable, in fact it is really evil when you think about it. These accounts do not see much action, so what in the world is the service charge(s) for???

On Monday, several persons of the recently formed EMERGENCY ALLIANCE TO SUPPORT THE HOMELESS will be leafletting, asking persons to divest from FIRSTAR. This of course is not the solution, but a start to getting at the greed and corruption which runs rampant in this the most liveable city in the USA...

as long as you aren't poor.

For more information, email or call 250-0256, or come out


See you rads there! __________________________________________________________________________ "Political rights do not originate in parliaments; they are rather forced upon them from without. And even their enactment into law has for a long time been no guarantee of thier security. They do not exist because they have been legally set down on a piece of paper, but only when they have become the ingrown habit of a people, and when any attempt to impair them will meet with the violent resistance of the populace."

--Rudolf Rocker __________________________________________________________________________

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