BOPM protest targets foreclosure auction

This last Sunday, Bail Out the People (BOPM) confronted the REDC's foreclosure auction held at the Grand Hyatt, with a hundred people -- more than double the size of the March Javits Center action -- on the sidewalk in front of the auction marching, chanting and condemning the public spectacle organized to profit from the misery of displaced homeowners. While the big-business media portrayed the auction as a chance to “put people who otherwise couldn’t afford it into homes,” BOPM activists interrupted that mortgage industry propaganda – identical to the justification for subprime mortgages – by exposing the auctions as scams and demanding an immediate moratorium on all foreclosures and evictions. “Our position was not against the people who came to find affordable housing,” said Larry Holmes, “but to warn them that the auctions themselves are fraudulent, with most of the properties scooped up, or already taken, by banks and real estate players. Plus, the few who do find deals could end up having their homes auctioned off in a year if they lose their jobs in the layoffs epidemic that is sweeping the nation. Housing is a human right, which is why we’re calling for an end to foreclosures now.”

The protest was covered by local TV news on Channels 2, 4, 5, 7, 9 and 11.

Media coverage of Sunday's demonstration: