Jackson Tells Lenders to Get in Holiday Spirit

Published December 2, 2009

It’s inhumane to put financially troubled homeowners out during the holidays, the Rev. Jesse Jackson said Monday, urging residents of Atlanta to boycott auctions by banks.

“We're asking banks to withdraw,” Jackson said from the steps of the Federal Home Loan Bank in Midtown Atlanta. “Why should banks subsidized by the government and protected by insurance paid for by homeowners put people out on their homes at Christmas?”

The civil-rights leader, in asking for the holiday moratorium from foreclosures, noted that Wachovia Bank cancelled an auction in October and in the process saved 1,400 homes from foreclosure, The Associated Press reports.

Any bank that doesn’t comply with the moratorium will face embarrassment and the threat of boycott, he said.

“We know the banks that have loans in the state,” he said. “We'll have a roll call.”

Written by <P>By BET.com News</P>

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