Occupy London ‘repossesses’ multi-million pound bank offices
Richard In London | 18.11.2011 18:34
Occupy London has taken over a huge abandoned office block in the borough of Hackney belonging to the investment bank UBS in a move it describes as a ‘public repossession.’ London, UK. 18/11/2011
Main story on demotix
http://www.demotix.com/news/930660/occupy-london-repossesses-multi-million-pound-bank-offices
Main story on demotix
http://www.demotix.com/news/930660/occupy-london-repossesses-multi-million-pound-bank-offices
Occupy London has taken over a huge abandoned office block in the borough of Hackney belonging to the investment bank UBS in a move it describes as a ‘public repossession.’
Overnight on Thursday, a dozen activists from the Occupy London, campaigners for social and economic justice as part of the global fight for real democracy, gained access to the building and secured it, giving them a legal claim on the space.
The multimillion pound complex, which has been empty for several years, is the group’s third space and its first building, adding to its two camps at St Paul’s Courtyard – near the London Stock Exchange in the heart of the City – and at Finsbury Square (borough of Islington).
Occupy London supporters Jack Holburn said: “Whilst over 9,000 families were kicked out of their homes in the last three months for failing to keep up mortgage payments – mostly due to the recession caused by the banks – UBS and others financial giants are sitting on massive abandoned properties.
“As banks repossess families’ homes, empty bank property needs to be repossessed by the public. Yesterday we learned that the Government has failed to create public value out of banking failure. We can do better. We hope this is the first in a wave of ‘public repossessions’ of property belonging to the companies that crashed the global economy.”
The Bank of Ideas
The group say the space will be reopened on Saturday morning as the ‘Bank of Ideas.’ An events programme is being lined up, including talks from Palestinian activists, comedy from Josie Long and a session led by trader Alessio Rastani, who sent shockwaves through the media following a provocative interview on the Eurozone crisis.
Sarah Layler of Occupy London added: “The Bank of Ideas will host a full events programme where people will be able to trade in creativity rather than cash. We will also make space available for those that have lost their nurseries, community centres and youth clubs to savage Government spending cuts.”
The Bank of Ideas is a non-residential occupation – so visitors are asked not to bring their sleeping bags. Space will be free from drugs and alcohol from the start, as per Occupy London’s safer space policy.
Overnight on Thursday, a dozen activists from the Occupy London, campaigners for social and economic justice as part of the global fight for real democracy, gained access to the building and secured it, giving them a legal claim on the space.
The multimillion pound complex, which has been empty for several years, is the group’s third space and its first building, adding to its two camps at St Paul’s Courtyard – near the London Stock Exchange in the heart of the City – and at Finsbury Square (borough of Islington).
Occupy London supporters Jack Holburn said: “Whilst over 9,000 families were kicked out of their homes in the last three months for failing to keep up mortgage payments – mostly due to the recession caused by the banks – UBS and others financial giants are sitting on massive abandoned properties.
“As banks repossess families’ homes, empty bank property needs to be repossessed by the public. Yesterday we learned that the Government has failed to create public value out of banking failure. We can do better. We hope this is the first in a wave of ‘public repossessions’ of property belonging to the companies that crashed the global economy.”
The Bank of Ideas
The group say the space will be reopened on Saturday morning as the ‘Bank of Ideas.’ An events programme is being lined up, including talks from Palestinian activists, comedy from Josie Long and a session led by trader Alessio Rastani, who sent shockwaves through the media following a provocative interview on the Eurozone crisis.
Sarah Layler of Occupy London added: “The Bank of Ideas will host a full events programme where people will be able to trade in creativity rather than cash. We will also make space available for those that have lost their nurseries, community centres and youth clubs to savage Government spending cuts.”
The Bank of Ideas is a non-residential occupation – so visitors are asked not to bring their sleeping bags. Space will be free from drugs and alcohol from the start, as per Occupy London’s safer space policy.
Richard In London
Comments
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Brothers and sisters
18.11.2011 19:30
anon_anarchid
Photo
18.11.2011 21:12
X3000
Shift work.
19.11.2011 08:51
I guess the occupation might be a continually staffed operation. A fully staffed, 24/7 Bank Of Ideas. I suppose dispossessed or homeless people could get unpaid "jobs" there, to qualify to recieve "Jobseekers Allowance".
observer
@ anon anarchid
19.11.2011 11:49
This doesn't make what the banks are doing any less evil, however it does make your trolling apparent.
Fup duck
banks arnt to blame
19.11.2011 17:06
Err.... the recession was caused by governments actually. The labour government used the banks as a scapegoat. At the end of the day, the government define the rules within which banks can operate. For banks to be competitive to their competition they have to play to the extent of those rules. If the government made those rules safer, then we wouldn't be in this mess.
As for the 9,000 families..... I put it to you that they overextended themselves in the property bubble when everyone was buying and 'investing' in property like mad. In ireland, people could get a x7 mortgage - who in their right mind would do that.
If these same people had made a big profit from borrowing so much and buying a house, they would be the first to pat themselves on the back about their 'shrewd' financial sense.
However, since the gamble didn't pay off, they are now blaming the banks that they can't pay the money back (as per the written agreement), for the money they borrowing via freewill. No one forced them to borrow so much.
Max
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