Protesters enter Bear Stearns building in New York

by Amy Judd | March 26, 2008 at 01:06 pm
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Hundreds of Protesters 'Foreclose' on Bear Stearns HQ

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Hundreds of Protesters 'Foreclose' on Bear Stearns HQ
60 people entered the Bear Stearns building in New York this afternoon brandishing placards and protesting against the U.S. Federal Reserve's help in bailing out the investment bank, and they were demanding help for the struggling homeowners that are going to be left behind.

Demonstrators organized by the Neighborhood Assistance Corporation of America chanted "Help Main Street, not Wall Street" and entered the lobby without an invitation for around half an hour before being escorted out by police.

"There are no provisions for homeowners in this deal. There are people out there struggling who need help," said Detria Austin, an organizer at NACA, an advocacy group for home ownership.

Bear Stearns employees were amused and perplexed, some taking pictures. One man in the lobby applauded.

"Homeowners, that's more than $1 trillion (in mortgage debt), you're crazy," another man in a suit screamed at a protester on the street.

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