Protesters Disrupt Bankers Meeting at Balboa Club

make-banks-pay-california.jpg
The LA Times is reporting that protesters disrupted a bankers conference held at a Newport Beach yacht club on Monday. According to Sgt. Steve Burdette, Newport Beach Police responded to the Balboa Bay Club Monday at 10 A.M., where a large group of protesters with a campaign known as ReFund California pushed their way into the banquet room.

 Baffled men in suits from the California Bankers Association  looked on as protesters chanted and held up signs reading "Make banks pay."


Burdette said protesters filed out peacefully after they were told to leave adding no arrests were made. The group of 50 to 60 then made their way to a nearby sidewalk where they continued to protest. 

TheNewBottomLine.com posted video of the incident (above), which shows a man making several loud demands, primarily that banks stop ripping off tax payers with tactics such as interest rate swaps. 

After this protest, the group caravanned to the Bel Air to the home of One West Bank CEO Steve Mnunchin to demand his bank stop foreclosure proceedings on the home of La Puente resident Rose Gudiel. According to the Huffington Post, One West agreed Thursday to cancel the eviction on Gudiel's home and discuss a modification proposal.

Location Info

Balboa Bay Club and Resort

1221 W. Coast Highway, Newport Beach, CA

Category: General

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12 comments
Latriallawyer
Latriallawyer

Thank you, thank you, thank you,.  Without your notice, we are all in the dark.  Communication.

Briansays
Briansays

from jesses cafe  Well, if we only had more stimulus it would have worked. Yes that is a thought, except the system is BROKEN. The only thing we are stimulating is more money for the wealthy, more jobs for China, and more debt for the people. Yes I think there is some short term benefit for those in the most distress in some of the programs, and that is a good thing. But pouring stimulus into a broken system is only going to mask the rot, and hasten the final reckoning. I thought this is what Greenspan tried after the tech bubble collapse. And here we are again.  Better for the Fed and the economists to proceed in fear and trembling, showing their work clearly, and engaging in honest and open discussion, than risk the final, utter and total repudiation of their profession when 'trust us' fails again.  And I think it is incredibly naive to make that case that since the Fed has not blown the economy up yet, that all is well, and that printing money in whatever amounts has no significant consequences. No one believes that except a few economists who frighten me in their slavery to their models, and I would hope that you are not one of them.  Obama is failing, but the alternatives are worse. Small consolation. I think the US can do better.   A great leader in a similar crisis said,   "Confidence...thrives on honesty, on honor, on the sacredness of obligations, on faithful protection and on unselfish performance. Without them it cannot live."  If most leaders in Congress and the Administration stood up and said that today, the audience would be rolling in the aisles with laughter. And if anyone from the financial sector said that, well, I would not wish to be in the radius of a lightning strike, God's work notwithstanding.  And that points to the heart of the problem. We are caught in a credibility trap, in which the leaders are so complicit in the abuse and corruption of the system that they cannot even begin to speak to it honestly and plainly, with their pockets weighted down with corporate money. And they are teaching the rest of us by their example. 

Ergo
Ergo

Will there be criminal prosecution by the OCDA sworn to protect big business (and Israel)?

Or these disrupters will get a pass because they are not Muslims, like the "Irvine 11" were?(see http://www.ocweekly.com/2011-0...

20ftJesus
20ftJesus

I was walking past ex-Real OC Housewives Peggy Tanous's place this morning thinking that if you fix Rose Guidel's mortgage, then you have to fix Peggy's mortgage too.  I paid all my debts by myself.  Is it really fair to help Peggy pay her $1.3m mortgage with my tax money? 

Briansays
Briansays

hopefully someone on the kitchen staff spit in their food

Ontheharbor
Ontheharbor

I am not sure how all the local media missed this. Thanksfor the story.

Newportblue65
Newportblue65

Wow....It's hard to get a table at the Bay Club!

Bellyacher
Bellyacher

Lets just keep pumping more air into that tire with a giant gaping hole in it.  The biggest of which is the ever increasing sense of entitlement in this country.  Stop the car, get a new tire, reevuate the path we need to be on and get going

PatrickR
PatrickR

Making concessions to protestors are like dealing with terrorists.  Once they see you are weak and willing to give in, they will be back for more and more. This is exactly why we don't deal with terrorists.  One West Bank just opened the flood gate and must have been sitting on their brains.   

Ergo
Ergo

Of course, it won't happen.Not because of Peggy but because of Rose. The ruling class is more happy to subsidize the well-off, it's the poor who don't deserve it.As evidence by the Biggest Heist In History (aka the Bailout). Trillions went to the Wall Street to guarantee their debts, instead of guaranteeing the homeowners' mortgages.  Subsidizing homeowners would have instantly ended the crisis, but this simple and obvious solution was not even considered, because the benefits would reach the undeserving filthy poor.

S.A. Artist
S.A. Artist

 Somehow the Bankers scrambled up some change to do it.

Bellyacher
Bellyacher

subsidizing homeowners....kind like healthcare?  entitlementism will ruin the country our forefathers (at least mine) WORKED and DIED to create and sustain. Don't like your situation? make it better, dont rely on someone (fed's/state) to support you.

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