Minneapolis, MN – “You got bailed out, we got sold out! Stop foreclosures now!” was the rallying call during a protest here June 13 as a crowd of 75 people surged to the doors of a US Bank branch on Lake Street. Minneapolis police officers blocked the doors of the bank building, calling in more squad cars, which arrived with sirens blaring.

Fight Back! interviewed Gregg Shotwell, a worker from the Delphi auto parts plant in Coopersville, Michigan, and a founder of Soldiers of Solidarity, an organization of rank-and-file members of the United Auto Workers (UAW). This interview deals with a number of critical issues, including the role of the UAW leadership and the need for a united resistance on the part rank and file workers.

Minneapolis, MN – In a packed Hennepin County Court room, May 26, District Judge Lloyd Zimmerman decided to delay the foreclosure-related eviction trial of Rosemary Williams until June 22. A hearing on the legal issues to be considered at the trial is scheduled for June 16.

Don't Balance the Budget on the Backs of City Workers!

Durham, NC – Fifty city workers and their supporters gathered outside City Hall here, May 18, to protest a decision by the city council to lay off 35 workers and eliminate 113 more positions that are currently unfilled. The result will put a huge strain on the backs of workers who are already understaffed, underpaid and over worked. The job losses will also lead to a deterioration in critical services that these workers provide to the public.

San José, CA – The United States is now in its longest recession since the Great Depression of the 1930s. At the end of April, the recession that officially began in December of 2007 reached 17 months in length, passing the deep 1981-82 and 1974-75 recessions. The economy has lost almost 6 million jobs, or 4.1% of total jobs at the beginning of the recession, the worst downturn since the recession of 1948. Unemployment in the African American community hit a depression-level 15% in April, while unemployment for Asian Americans has risen the fastest, more than doubling over the last year.

Minneapolis, MN – “Banks got bailed out, we got sold out! Stop foreclosures now!” was the chant on a spirited picked line here, April 28 at the Hennepin County Government Center. Rosemary Williams, who faces eviction from her foreclosed home, along with leaders of the Minnesota Coalition for a People’s Bailout and the Poor People’s Economic Human Rights Campaign announced some important developments in her legal case.

St. Paul, MN – Fifty protesters gathered on tax day, April 15, on the front steps of the Minnesota state capitol building to demand state government tax the rich and not balance the state budget on the backs of working and low-income people. Organized by the Minnesota Coalition for a People’s Bail Out, speakers included leaders of labor unions, low-income groups and anti-war organizations.

San José, CA – On Friday, April 10, the U.S. Department of the Treasury reported that the federal government budget deficit for the first six months of Fiscal Year 2009 (which runs from October to September) was $957 billion. This was more than three times as large as the deficit was at the same time last year and is on track to a record $1.8 trillion ($1800 billion) deficit as projected by the Congressional Budget Office. This is the largest federal government budget deficit relative to the size of the economy since 1944 at the height of World War II.

663,000 More Jobs Lost in March

San José, CA – On April 3 the monthly jobs report by the Department of Labor showed that the official unemployment rate jumped from 8.1% in February to 8.5% in March, while the economy lost another 663,000 jobs. In addition, the number of jobs lost in January was increased by 90,000, to 741,000, which was the worst one-month job loss in 60 years. So far the economy has lost 5.1 million jobs since the recession began, making this the worst recession in terms of jobs lost in more than 50 years.

Chapel Hill, NC – Chanting “They say cut back, we say fight back!” a group of 50 students, campus workers and faculty marched on the Board of Trustees meeting March 26. The main theme of the protest was “No budget cuts on the backs of students and workers.” After rallying on campus, the demonstrators marched over to the Carolina Inn, a luxurious hotel that was hosting the Board of Trustees meeting.

San Jose, CA – On Monday, March 30, President Obama took a tough line with General Motors and Chrysler, which had asked for billions more in aid from the government. GM CEO Wagner was forced to resign, and GM has 60 days to submit a new business plan with more cost cutting. Chrysler was given 30 days to sell a stake to Italy’s Fiat. Otherwise, said Obama, the car companies will go into bankruptcy. To help the companies through this restructuring, the government will be guaranteeing car warrantees and payments to parts suppliers.

As effects of the economic crisis ripple across the U.S., budget shortfalls have sparked crises in nearly every educational system. Public school systems are seeing layoffs of teachers which will mean bigger class sizes, declining quality in education and more stresses on already strained public school systems. Universities have seen their endowments shrink substantially, prompting a crisis of how to continue with slashed operating budgets.

Demonstrators say, “Moratorium now on foreclosures and evictions!”

Minneapolis, MN – About 100 demonstrators gathered outside the Minneapolis Convention Center to protest a massive auction of foreclosed homes, March 28. The protest was initiated by the Minnesota Coalition for a People’s Bailout.

St. Paul, MN – The first legislative hearing on the Minnesota People’s Bail Out Act (House File 626) was held in the Minnesota House Labor and Consumer Protection Division Committee, March 20.

Fed to Inject $1.15 Trillion More into Credit Markets

San José, CA – On March 18, the Federal Reserve announced that it would inject an additional $1.15 trillion into credit markets. With short-term interest rates already close to zero percent, the Federal Reserve will try to lower long-term interest rates in an effort to boost the economy. The Fed will buy another $750 billion in bonds backed by mortgages guaranteed by Fannie Mae and Freddie Mac, $300 billion in long-term U.S. government treasury bonds and another $100 billion in bonds issued by Fannie Mae and Freddie Mac.

Recently the media has been abuzz with talk of the possible ‘nationalization’ of ailing big banks such as Citigroup. Both Democrat and Republican senators, as well as the former chair of the Federal Reserve, Alan Greenspan, have raised the possibility of a temporary ‘nationalization’ or government takeover of big banks.

Minneapolis, MN – More than 40 protesters gathered here March 14 at the foreclosed home of Rosemary Williams, to demand that Williams be allowed to stay in her home and an end to foreclosures.

650,000 More Jobs Lost in February

San José, CA – On March 6, the Labor Department reported that the economy lost 650,000 more jobs in February. The report also said that the number of jobs lost in December and January was revised upwards by 150,000. This brought the total job losses since the recession began to 4.4 million, more than half lost in the last four months alone. The total number of jobs has shrunk by 3.2% since the recession began, the most in more than 50 years.

Minnesota – A broad coalition has formed to demand that the Minnesota legislature take concrete steps to protect low-income and working Minnesotans from the effects of the snowballing economic crisis. The Minnesota Coalition for a People’s Bail Out brings together union members, welfare rights organizations and others.

More than Half a Million Jobs Lost in November, Most since 1974

San Jose, CA – On Friday, Dec. 5, the Department of Labor reported that 533,000 jobs were lost in November, the worst one-month decline since 1974. The job losses cut across the economy, with only health care showing any sizable increase in employment. In addition the report revised upward the job losses in September and October, showing that the economy has lost a total of almost 2 million jobs in 2008. The official unemployment rate increased two-tenths of one percent to 6.7%. This figure would have been much higher except for the fact that more than 400,000 people stopped looking for work and were not counted in the official unemployment report. A broader measure of unemployment that includes people working part-time but wanting full-time work, and those jobless who had given up looking for work, rose to 12.5%, or one out of every eight people in the labor force.