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Rally Protests the Sale of National City Bank

Friday, November 21, 2008 at 4:23 PM

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Protestors braved a chilly Public Square to make their point

A group of Northeast Ohio protestors rallied in downtown Cleveland Friday afternoon demanding that federal officials block the sale of National City Bank to Pittsbugh-based PNC Financial Services. ideastream®'s David C. Barnett has more.

About fifty people, including several government officials, huddled in Public Square for the frigid noontime rally.  Several participants carried signs protesting the bank sale.  Rally organizer and small businessman Dave Hunsinger said National City has some deep community connections.

HUNSINGER: We all have people ... a brother, neighbors ... who are going to lose their jobs over this.  Small businesses like mine --- I do some work with National City...I have customers… It’s going to impact me, it’s going to impact how many people I employ.

And he says that sort of trickle down effect, multiplied by hundreds of small business across the region, could have major consequences. Cleveland Congressman Dennis Kucinich said he and his Lake County colleague Steven La Tourette are looking to delay the takeover so that its legality can be challenged. 

KUCINICH:  We’re pursuing every specific avenue that we can: the comptroller of the currency is going to receive a filing from us...the Federal; Reserve is said to be reviewing it..and we’re filing an objection with the Securities and Exchange Commission. 

Kucinich says time is short and he expects these actions to to be in place within the next two weeks.

Tags

Economy, Facing the Mortgage Crisis, Regional Economy/Business - News, Government/Politics, Other, Community/Human Interest

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