BANGOR, Maine — As many last-minute filers scrambled to send in their taxes, a group of 15 protesters assembled in front of the Bank of America building on Exchange Street on Tuesday afternoon and tried to present the bank manager with a tax bill.
Holding signs reading “Take a bite out of crime, eat a banker” and “Bank of America: Bad for America,” protesters chanted “Banks got bailed out. We got sold out” before marching into the Bank of America lobby and trying to give a “billing statement” to the bank manager, who politely told the group she wasn’t allowed to accept it.
“Our goal was to give the bill to the branch manager so she could send it on to Bank of America CEO Brian Moynihan,” said Nicole Brown, a Maine People’s Alliance staff member and community organizer.
The Maine People’s Alliance released a report Tuesday detailing the money it says Bank of America owes in taxes based on federal bailout money accepted, tax refunds, and taxes not paid since the federal bailout.
The alliance charges that Bank of America has received $230.1 billion in federal taxpayer bailout funds, made $5.5 billion in profit since the bailouts were issued, and was given $5 billion in federal tax refunds without paying any taxes.
Bank of America spokesman T.J. Crawford said his company has, in fact, paid federal taxes.
“In 2011, Bank of America paid approximately $2 billion in U.S. taxes,” Crawford said Tuesday. “In the past decade, Bank of America has paid more than $55 billion to federal, state and local governments in taxes.”
Brown paused when told that information.
“That doesn’t match the numbers in our report,” she said. “That is a big disparity.”
Mike Tipping, Maine People’s Alliance’s communications director, said monetary figures quoted in the group’s press release were gleaned from 2012 investor filings, investor reports, U.S. Treasury Department figures and the General Accounting Office. Income tax refund figures come from 2009-2011 IRS income tax information, he said.
“I’m not sure where their figures are coming from,” Tipping said. “Some of the people protesting in Bangor today are bank shareholders, and they’re planning to go to their annual meeting.”
Crawford said the notion that Bank of America isn’t paying taxes is false.
“It’s important for everyone to understand that we take our responsibility as a corporate citizen seriously and when we owe taxes, we pay them,” Crawford said. “As far as the protests today, the facts don’t support this group’s claims.”
When asked if the Maine People’s Alliance has protested or intends to protest in front of any federal buildings, since the bailout funding came from the U.S. government, Brown said no.
“We’re just trying to point the spotlight on corporations in general and how they’re not paying their fair share in taxes,” she said. “We didn’t really take a position on the bailouts at the time. There are people upset about that, but that’s in the past.”
Tipping said he understands that the federal government also bears blame for the bailout.
“A lot of the reason we protest Bank of America is because of the control they exert over regulators and elected officials in our government through $10.1 million in lobbyist payments and $9.5 million in federal political contributions,” he said.
The Maine People’s Alliance, which is observing its 30th anniversary this year, also staged protests at Bank of America locations in Augusta and Portland on Tuesday. The nonprofit group maintains offices in Bangor, Augusta, Lewiston and Portland and has 30,000 members statewide.
The big Wall Street banks destroyed the economy in 2008, and then were bailed out, and now they are back in the profits; meanwhile, the middle class was sent into a death spiral.
It’s simple obvious corruption: Big Money owns our government and is taking from the 99% and giving to the ultra-rich.
Republicans, who won’t even believe in evolution or global warming, also refuse to accept their country is sick, sinking, and totally infested with plutocrats.
Again, not true. Why don’t you lead off with the Bush attempt to reign in Barney Frank, et al and then explain the impact this unprecedented allowance of debt was pushed onto the banking community. Your judgement is blind to facts it would appear.
Republicans don’t believe in evolution.
They don’t believe in global warming.
And they don’t believe big bankers will sell out this country for profit.
Who’s blind?
Who gave a billion to solyndra? Who walked guns across our border to the Mexican drug cartels? Who blames ATM’s and kiosks for the unemployment rate? Thats right. The morons still dumb enough to have an Oblamer bumper sticker on their burning Volt. You calling anyone blind is a joke. Then again, even a blind person knows that the planet has cooled off since the 1990’s which of course you global scamming proponents cannot explain. Heck even Al Gore has changed to calling it “climate change” because he was getting laughed at too often saying Global warming. So why dont you wake up?
97% of scientists believe global warming is primarily human-caused. But I guess Rush Limbaugh is smarter, huh–primarily because he knows how to manipulate angry white males.
http://content.usatoday.com/communities/sciencefair/post/2011/11/public-learning-scientists-agree-on-climate-a-game-changer/1#.T3SLn_nLuVo
I does not matter what they believe . I still have not found prof . The sun dose not burn at a constant . We have yet to predict the sunspot cycle other than it comes in like 11 year averages . In the big picture of billions of years it could be warming up for 100s years while its in the middle of cooling off . It is not a bell curve its is more like a butterfly graph. Anything is possible.
Actually, what scientists believe is important–because they are the experts, and use the scientific method, which is what brought you the computer you are typing on, and all our other technologies. 97% of scientists. Think about it. And think about how greedy Big Oil is. Put two and two together.
GREED yes that is the problem . Part of why will might never know the truth about a lot of things. People do not seem to care about things that do not directly relate to them without the understanding that everything we do affects the whole world. The cause of WW2 was not Hitler it was the oppression of the German people after loosing ww1 . We have learned nothing . Why are we in the middle east ? Because oil. We do not seem to care much when African countries commit genocide . We need to adopt a more world view it we are ever to have piece on earth. I know I am a bit off topic spruce . I am with ya on some things .
ever think about the greedy scientists getting all of the grant money to study a myth
Ever hear of climate-gate? A bunch of anti-capitalist pseudo-scientists were caught embellishing and manipulating climate data in support of the global warming myth. Why do you think even your savior Obama did not support the kyoto accord?
Again, 97% of scientists are not all engaged in a liberal conspiracy. 97%
Seriously, do you really trust Rush Limbaugh when the climate is changing rapidly all around us? There are vultures flying all over Maine now.
Are you referring to Chellie Pingree and her husband’s private jet???
Come on man, the Sun is just getting closer to the Earth. No worries!
Try again. If you buy the numbers, than all you have is that 97% of CLIMATE scientist ,big difference. These glorified weatherman have found a way to make them selves relevant, elevate their statuses and make a ton of cash for themselves by jumping on the bad wagon. First it was the coming Ice age,that didn’t work,. Acid Rain,got a little traction but nope. , Global Warming ,Hmm cant even fake the data on this, Hey Ive git it Global Climate Change. Not matter what happens, it will be a change… Eureka!!!
Here’s a thought for you, The last Ice Age ended about 11,500 years ago. So what you call a crisis , I say is delaying the next Ice Age.
“Who walked guns across our border to the Mexican drug cartels?” Ronald Reagan. Well maybe they weren’t Mexican, but still…..
I like some of the things you say spruce . just that global warming is caused by burning fossil fuels is still unknown. The truth maybe be OIL is not a fossil fuel. Show me the prof. I am not saying it is not. Just saying if it is not we have 100 times the reserves we thought. Thier will always be global warming or cooling.
Did you know that when Mount St. Helens went up, it did more damage to the ozone layer and atmosphere than the past 100 years of human civilization?
In the late 1800s more methane was put into the air from horses in New York city than is today. I think global climate has more to do with the sun than anything. Study the sunspot cycles . Last Solar minimum was the mini Ie age in the 1400s. My point is oil may not even be a fossil fuel. Certain metals ,pressure and acid can produce oil.
http://content.usatoday.com/communities/sciencefair/post/2011/11/public-learning-scientists-agree-on-climate-a-game-changer/1#.T3SLn_nLuVo
Believe what you want to believe you can always find information to support it. I tend to look at things more in the we do not know . I am not saying it is or is not happening . We do not have prof. Lots of scientist disagree. Prove OIL is a fossil fuel.
I find it funny that other objects in outer space are also heating up, I guess us burning all of this oil is really affecting not only out planet, but other planets too! Wow, go figure, how the hell did that happen? We must stop heating the other planets or they May revolt and form an occupy the earth! And I have seen the movies where they come and try and destroy us, it can get messy!
Wow! Such reckless liberalism! I love it! Get this…
1. I believe in evolution…because everything that exists is part of God’s plan.
2. I believe in global warming. The ecosystem has and always will fluctuate between periods of hot and cold…every few thousand years or so. Well, that’s just what I have learned from my experience in meteorology.
3….and I believe that bankers will sell out this country for profit. Keep in mind that most of the 1% are of a demographic (enough said) that vote liberal.
I’m a Republican!!! Oh, I am so sorry… does that offend you?
And more falsehoods from the person in the trees….
“Republicans don’t believe in evolution.” No, I know Republicans and Democrats that don’t believe in evolution, they believe in Creationism. I know Catholics, Christians and Jews that believe in Creationism and are not Republicans but Democrats and other religions too.
~~~~~
“They don’t believe in global warming.” Again, I know people from all political parties that don’t believe in “Global Warming” or “Global Climate Change”.
~~~~~
“And they don’t believe big bankers will sell out this country for profit.” Representative Barney Frank (D-MA). #1 donor group – Insurance $74K, #2 – Securities & Investment $70K, #6 Commercial Banks $25K, #7 Misc Finance $25K, #12 Finance/Credit Companies $16K. That’s $210,000 from Banking/Insurance/Finance out of a total raised of $760,000 or 28% of his total money raised! http://www.opensecrets.org/politicians/summary.php?cid=N00000275&cycle=2012
~~~~~
You cannot see the forest Spruce. Republicans AND Democrats are equally beholden to special interest groups.
Both parties are to blame. spot on with that observation. it’s going to be ok for them because those of us at the bottom believe the sound bites and talking points that we are fed, and keep fighting with each other. our fighting takes the spotlight away from Dems and Repubs as they rob us all blind. How many dems are in the 1%, are advocating for the rich to pay more, and yet don’t volunteer to pay more.
Methadone is not the answer.
Spruce you miss the whole point. It is not a Democrat Republican issue . The big master plan is they want to polarize people. Greed on both sides. We do not have all the answers how to make a fair cival society . Let just say they put in a flat Maine state tax the poor guy working will end up paying a much larger percentage of his income in Maine taxes because it takes half his pay check in get just to get to work. Gas is about 25% tax. When a small little guy sells fake maple syrup he gets 5 years in jail. When Walmart sells 55db gain rabbit ears for $65 to screw poor people nothing is done. Big business controls both parties. That is the plan to keep us fighting and not see what is really going on. Big business makes tons of money off people on welfare. I am not against big business but hold them to the same standards we hold everyone else too.
I believe in evolution..
Let’s not forget the people that purchased homes that they could not possibly afford on their income. One only has to look at shows like “House Hunter” to see that trend continues today.
A little over three years ago my wife and I refinanced our house and the bank asked how much do you make each year. I told them and said that I knew they were going to confirm with my employer. Imagine my surprise when the banks representative said, “Oh no, we take your word for it.” Seriously, my “word”. Isn’t that how we got into this mess in the first place I thought to myself.
Now we are refinancing again (cutting 2% and 2 1/2 years) and we are being asked to provide 2 years worth of tax returns, a months worth of pay stubs, etc…While a pain in the ***, it was what should have been done in the first place and would have saved us a lot of pain and financial ruin.
Lets not forget the people who made thier payments every month. And where sent a foreclosure notice saying they owe $21,000 JD because thier payment was placed into a suspense account while waiting 18 months to find out they did not qualify. Were out right lied to and giving the run around. Only to have to pay a large sum of money to keep thier house. Some people have lost thier house while making the payment every month. Did exactly what the were told to do. When the bank knew from the start they did not qualify.
This quote is taken from the “Making Home Affordable” website (http://www.makinghomeaffordabl… ):
“Making Home Affordable (MHA) is the Obama Administration’s
initiative that helps struggling homeowners get mortgage relief through a
variety of programs that aid in mortgage modifications, interest rate
reductions, refinancing, deferred payment or transitioning out of your
home while avoiding foreclosure.”
It was a program for people that were already in trouble due to
sub-prime mortgages. Your friend was making payments (which the lender
placed into an account) until they made a determination if she qualified
for assistance. It seems she didn’t qualify for assistance. I am sorry
for your friend but the questions you are asking are better addressed to
the Departments of the Treasury & Housing and Urban Development
which are the departments responsible for “Making Homes Affordable”
Like I said they Knew from the start or SHOULD HAVE she did not qualify But chose to wait 18 months . No excuse for dishonest practice weather of not it was legal. It was a stalling process . She was told she qualified then they decided not to go through with it . Of 400,000 people that applied at that time only like 5,000 got loans refinanced. How many BILLIONS did they make on that scam?
JD defend banks all you want. Someday you might find out what really happens. Like before the Carlson case you defended the man. When you find out the truth you home bad some people are screwed by banks you will not be so defensive.
Bob I have not defended “banks”. I posted from a government website the description of the program. The program is designed to assist people in the sub-prime market. Why your friend needed to avail themselves of the program remains a mystery. You don’t say why she needed to use the program so who knows why she needed to.
As for Bob Carlson I defended the person I knew through business associations. I asked for people to withhold judgement until the facts were out. So what is wrong with that? Did you know something different about Bob Carlson?
As far as your last sentence goes, I cannot make heads or tails out of it.
I agree with you about Bob. Maybe you are not being defensive about banks either . I blame Obama and government as much as banks . The banker at your local branch would never dare to do the things these big banks do. They know when some people loose thier house through no fault of thier own except falling for deceptive practices. They would not be as able to hide when someone has nothing to loose. If you can get 5 years for selling fake maple syrup saying it is real some of these Bankers should get life. I am so surprized something bad has not happened to some of these bankers who set the policies for these big banks. I am thinking If I lost my house through deceptive practices and had terminal cancer I would not be alone in heaven or hell.
I respect you JD the thing is the banks should not have given house to people they can not possibly afford. Banks created the mess . Sorry the banks had other options . Even If they had to go out of business. It is all about greed.
As I respect your opinion. I post about this topic because the mortgage market did not collapse just because of the banking industry, There were many factors that caused the real estate market and the sub-prime market to implode.
Those reasons included:
The percentage of new lower-quality sub-prime mortgages rose from the historical 8% or lower range to approximately 20% from 2003–2006, with much higher ratios in some parts of the U.S.,
The inability of homeowners to make their mortgage payments due primarily to adjustable-rate mortgages resetting, borrowers overextending, predatory lending, and speculation,
Overbuilding during the boom period,
Risky mortgage products,
Increased power of mortgage originators,
High personal and corporate debt levels,
Financial products that distributed and perhaps concealed the risk of mortgage default,
Bad monetary and housing policies,
International trade imbalances, and
Inappropriate government regulation.
To name a few.
Only some of these factors were controlled by the banks.
NO THE “BIG BANKS” DID NOT DESTROY OUR ECONOMY. It was the Democrat party with their COMMUNITY REINVESTMENT ACT that forced those banks to make loans to deadbeat minorities in the name of “fairness” and it s crewed all of us. So thanks for that Dems. And nice try putting it off on the “big banks” when anyone with any common sense knows it was the CRA that did the damage.
No one force them to do anything. I am self employed if I was forced to do something i know is wrong to stay in business I would close up my shop.
My reference is the Oscar-winning documentary film, “Inside Job.” Plenty of facts and referdnces.
Who’s your source? Come on, I dare you.
GOP
No global warming
No evolution
No greedy banks
And Romney is our wonderful mega-millionaire flip-flopper who destroyed the Tea Party
NO ONE FORCED BANKS TO DO ANYTHING. AGAIN NO ONE FORCED BANKS TO DO ANYTHING. If they could not live with the rules they could have closed . It was thier choice to stay open. Why dose know one seem to have any integrity?
tell me How were they forced to?????????????????????????????????? if they knew it was such a bad idea they should have closed. I expect no one to Bail me out. I would close my business if i could not make it work . They had that option . I guess it all come down to GREED.
Government fines, loss of bank charter, restrictions on expansion, etc.
Like I said go out of business. They had a choice. No it is all about greed . If anything rises at a rate higher than inflation it would one day be bigger than the GDP of the world. Banks saw this coming . Is now way they did not know thier would be major corrections house prices going up 20% a year. No one bailed me out I make way less than half what I did make. Sorry bankers did not take a major pay cut . They knew it was coming and knew they would get bail out . No integrity in that. Am I the only moral person in the world???
21 and counting Fox News viewers liked this response.
Spruce, when are you and the tent people coming back to play. I read that Obama is 5% behind Romney in a national poll and could really use your support, you know, that whole class warfare, racism, anti-soap movement really scores big with the American people.
Iraq anyone?
The 5 biggest banks, those “too big to fail” meaning the U.S. taxpayer may be on the hook again for bailing them out, have gotten bigger. They now hold assets representing 56% of economic output, up from 43% in 2007. We are in greater financial peril than even at the peak of the economic collapse that happened under Bush. The power of these 5 banks is breathtaking.
If the Maine People’s Alliance spent more time informing themselves on the political issues of the day, and less time creating a spectacle downtown, they would have been prepared to take a position on the bank bailouts. No bailout would have meant no Bank of America, and no need to run all around Robin Hood’s barn to “fix” a mess that the United States government is solely responsible for. Have they learned any lessons for next time? No, I didn’t think so either.
The editors of this rag have chosen to highlight the inanity of a very small group of people. Really, its 15 people “protesting”…… Get a grip and don’t politicize small groups’ actions.
Why I’m a moderate Republican.
Lame.
Under the make homes more affordable program . My friend made her payment every month Lacking the 4 $100 off coupons. 18 months later the bank spent a foreclosure notice saying she owed $21,000 the money was placed into a suspense account not put towards the payment by the bank. All said in done she got to keep her house it only cost $8,000. Tell me why it took the bank 18 months to tell her she did not qualify . They had the use of her money . It is such a scam. Some people have made thier house payments every month and still lost thier house. Why is no one arrested for fraud ? Just dishonest
This quote is taken from the “Making Home Affordable” website (http://www.makinghomeaffordable.gov/Pages/default.aspx ):
“Making Home Affordable (MHA) is the Obama Administration’s initiative that helps struggling homeowners get mortgage relief through a variety of programs that aid in mortgage modifications, interest rate reductions, refinancing, deferred payment or transitioning out of your home while avoiding foreclosure.”
It was a program for people that were already in trouble due to sub-prime mortgages. Your friend was making payments (which the lender placed into an account) until they made a determination if she qualified for assistance. It seems she didn’t qualify for assistance. I am sorry for your friend but the questions you are asking are better addressed to the Departments of the Treasury & Housing and Urban Development which are the departments responsible for “Making Homes Affordable”
The thing is she was not in trouble. They should have known right from the start she did not qualify. The Maine attorney general office sent her a letter stating to ignore the foreclosure they had no legal right to do it. She borrowed $8k just to keep her payment the same . Yes the “Obama Make homes more affordable program”. Maine has better laws than some states . The point is some people made thier house payments in good faith every month and still lost thier house because the way the banks put the money in suspense accounts Not going towards the house payment. Stalling for month giving you the run around . Transfered on the phone told you qualify. they will pay your taxes and insurance with out sending you a bill. Then tell you how far you are behind. When By all rights they should not have accepted you into the program in the first place. I guess the laws are written to protect the banks. IF I HAD TO BE DISHONEST TO STAY IN BUSINESS I WOULD CLOSE MY SHOP.
Have to agree, it isnt that easy to qualify……They run you around etc…….
These two outfits deserve each other.
What?
No blue tarps ?
They should have let the Bank got out on it’s own accord,, We should never have bailed them out.. I don’t care how big they are. let the banks die on their own…
Bank of America is an investment Bank and only care about themselves.. Only your deposits matter to them.
At the end of the day, the banks still have their money.
Mr. Brown of the Maine People’s Alliance is a liar. The IRS is prohibited by law from releasing any tax information on any specific tax filer, corporate or personal. Any SEC filing by a corporation provides only limited information on overall tax expense, tax deferrals and actual cash taxes paid. Also, MPA doesn’t know what it is talking about. BoA paid back all the TARP funds they received long ago.
Bank of America is a saint compared to JP Morgan Chase
I don’t think they have an office locally that a bunch of people can get their pictures taken in front of.
Your right, but I bet the crowd be significantly larger for those dirtballs at JP Morgan Chase
MBNA dumped millions into our local community until GW Bush came along and that was that, then they got rid Charlie, and that was the end of it. BOA is bad Neighbor.
I love the slogans…”smash the banks”…”eat a banker”….my my, such violent hate speech after Tucson, when your Dear Leader ordered the masses to “tone down the debate..”
The MPA can’t count, don’t know what they are reading and are surprised when they find out their assumptions are wrong.
Bank of America is a BOA constrictor suffocating America with high interest rates and debt, but it’s only one of many banks in a chain of private central banks going all the way up to the Federal Reserve Bank and the Bank of International Settlements, International Monetary Fund and World Bank that conjure money up out of thin air and then charge compound interest rates to member nations on money that never existed in the first place and then place sanctions on those nations (soon to be US) and impose austerity measures on them because they obviously will never be able to pay back the interest on the debt-based fiat currency which is only a means to an ends to bring about a global government scenario which will be a totalitarian scientific dictatorship. Google “give me the power to coin a nations currency and I care not who makes its laws” to see which international banker said it and how long ago.
We learned no lessons In history. Oppression and greed are the major causes of wars. Why should banks worry about that?? Not like they will be the ones fighting it.
how does 15 protesters warrant a story in the BDN? get over it protesters. i dont use Bank of America and you know why? because i choose not too. you do the same and please move along.
Ironic that this “MoveOn.Org” splinter group is only protesting at Bank of America. General Electric was reportedly to have made 14 BILLION in profits and didn’t pay a dime in income taxes. MoveOn won’t protest there, or even mention it; as GE/NBC is a major sponsor of President Obama.
Corporate citizen? Whose bright idea was it to model a corporation as a citizen within the United States? They cannot go to jail, they do not vote, and they are immortal and never die. How is a mortal human supposed to compete with such an entity?
I do find Bank of America disgusting as they received bailouts and taxes from the people, holders made money, and then turned around and taxed the people who are their clients.
Once again, the “occupier” idiots, have mis-directed their anger. The anger should be toward those that GAVE them the money! Vote them out of office (starting with this president) and make sure they know why!
If you are mad that they have their hands out, how do you feel about welfare moms? Illegal aliens? Drug addicts? The disabled? The list goes on…….
Do business with smaller local banks and credit unions, it’s always worked for me.
Phenomenal display of economic ignorance and incompetence by the Maine People’s Alliance. These are the same people who complain when banks assess fees and interest rates. Guess who actually pays corporate taxes, MPA? Consumers do, Maroons!