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Leafletters Target Barclays in Hastings

Smash EDO - Target Barclays | 30.11.2009 22:42 | Smash EDO | Anti-militarism | Iraq | Palestine | South Coast

Hastings Against the War leafletted their local branch of Barclays this Saturday in support of the Target Barclays day of action.

actions have, so far, taken place in:
Cambridge - /en/2009/11/442521.html
Brighton - /en/2009/11/442445.html
Wrexham - /en/2009/11/442394.html
Falmouth - /en/2009/11/442538.html

Target Barclays?

Smash EDO have been calling for autonomous actions against Barclays Bank to force them to stop providing 'market maker' services for ITT Corporation on the NYSE. Smash EDO's site states 'Bankers and institutional investors are the glue that finances the state terror wreaked by the arms trade. Companies like EDO do not operate in a vacuum but are propped up by the networks of corporations and investors which constitute the global capitalist system which puts profit before peace, greed before people.'

As ITT’s market maker, Barclay’s acts as a ‘middle man’, purchasing shares from a seller and holding them until such a time as a buyer becomes available. This ensures the stability of ITT’s share price by allowing shareholders to sell off their assets at any time, even when a buyer is not immediately available, and vice versa. Barclay’s also profits from this enterprise, by selling ITT’s shares at a small markup, which nevertheless generates a considerable income when spread across large sales.

Barclays is also the largest UK investor in the global arms trade

Smash EDO - Target Barclays
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