Protests at Bear Stearns offices
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- MortgageLoan.com | March 27, 2008
The fun and games continue at Bear Stearns where a handful of over-excited protestors got into the troubled investment bank's Manhattan offices during a spirited protest of the government's rush to aid the securities firm.
Over 100 demonstrators from the Neighborhood Assistance Corporation of America streamed in through a rear entrance after security guards tried to keep them from using the revolving doors. The group, chanting "Shame, Shame, Shame..." demanded to meet with JPMorgan Chief Executive Officer Jamie Dimon.
The non-profit community advocacy and homeownership organization believe the government has done little to aid homeowners struggling to meet their mortgages, whilst using taxpayers' money to help Wall Street than Main Street.
After several heated exchanges with members of the Bear Stearns and the arrival of a large police presence the protestors dispersed peacefully after making a brief statement.
US treasury secretary, Henry Paulson, in a speech to business leaders promised a broad look at regulations. "This latest episode has highlighted that the world has changed."
As the credit crunch continues, the bank's demise could lead to greater government oversight of investment houses.