LA City gardeners Lindoria Horn and Dorothy Young work at Algin Sutton Recreation Center, which provides desperately needed child care in South LA.
Today they joined more than 50 people at City Hall to demand accountability from big banks that have helped cause the budget crisis. They asked banks to do more to prevent foreclosures, end toxic lending deals with the City and increase lending to small businesses.
Lindoria Horn told Councilman Bernard Parks, who represents the area where she works, about her struggle to modify a loan to stay in her house with her daughter. Her co-worker Young said, “I’m watching big cuts to child care. Layoffs will make it worse.”
LA County Public Health Nurse Rosie Martinez and other SEIU members have helped 500 families stay in their homes. She told Council members, “Instead of slashing parks & neighborhood services banks need to do their part.” And SEIU member Martha Rojas said that “banks are refusing to work with homeowners.”
City Council Takes Action on Banks
At the end of the hearing, Councilman Richard Alarcon proposed measures to hold banks accountable, and Councilman Parks joined him. They include:
- Direct the CAO to renegotiate “interest swaps” costing taxpayers $10 million every year
- Set community standards for doing business with banks including a report card that rates banks on affordable home loans, foreclosure prevention and access to services