66°

Topics

Paul Koretz
Honking garbage trucks in L.A.: That's no way to deal with Wall Street
Honking garbage trucks in L.A.: That's no way to deal with Wall Street

A coalition of city labor unions and community activists say big banks preyed on Los Angeles and other municipalities, locking them into interest rate swap deals that ended up costing taxpayers millions of dollars after the economic crash. So, how do they show their anger at Wall Street? By driving city garbage trucks and other heavy equipment around downtown, honking their horns. That’ll show those heartless bankers! Really, the protest is aimed at pressuring the City Council to take a hard line with the banks: Bank of New York Mellon and Dexia, a Franco-Belgian institution. Councilman Paul Koretz introduced a motion several months ago calling on the two banks to renegotiate credit...

Loading