SEATTLE'S CITY COUNCIL HAS DECIDED TO PULL A WHOPPING
$3 BILLION OF FUNDING FROM WELLS FARGO OVER WELLS FARGO'S
INVOLVEMENT WITH DAPPLE.
THIS IS INTERESTING AND IT SHOWS YOU WHAT HAPPENS IN SOME
LIBERAL PARTS OF TOWN STUB THE SEATTLE TIMES REPORTED THAT
THE CITY'S AFFORDABLE HOUSING, NEIGHBORHOODS AND FINANCE
COMMITTEE VOTED WEDNESDAY TO PULL THROUGH BILLION
DOLLARS IN CITY FUNDS FROM WELLS FARGO BANKS, ONE OF THE
COMPANIES SUBSIDIZING THE PIPELINES CONSTRUCTION.
FOR THOSE OF YOU WHO HAVE BEEN FOLLOWING THE STORY CLOSELY
SINCE THE BEGINNING, YOU KNOW WHAT IS GOING ON BUT LET ME
FILL YOU AND IF YOU HAVEN'T.
THE DAKOTA ACCESS PIPELINE IS A HEAVILY CONTESTED PIPELINE
THAT WOULD BE BUILT IN NATIVE AMERICAN AREAS AND NATIVE
AMERICANS HAVE BEEN PROTESTING IT BECAUSE IT COULD
POTENTIALLY ADD TOXIC SUBSTANCES TO THEIR DRINKING WATER AND
THEY ARE ALSO WORRIED ABOUT SACRED BURIAL GROUNDS BEING
DISRUPTED IN THE PROCESS OF CONSTRUCTING THE PIPELINE.
IN DECEMBER, THE PROTESTERS WON A VICTORY WHEN THE OBAMA
ADMINISTRATION DECIDED TO HOLD CONSTRUCTION.
AN ENVIRONMENTAL STUDY AND IS IN STATEMENT COULD BE DONE IN
ORDER TO PROVE THAT THIS CONSTRUCTION WOULDN'T
ACTUALLY CAUSE ANY DAMAGE TO THE ENVIRONMENT.
HOWEVER, TRUMP HAS A VESTED INTEREST TO CONTINUE THE
CONSTRUCTION SO AS SOON AS HE WAS INAUGURATED, HE MADE
CLEAR THAT HE WOULD ALLOW CONSTRUCTION TO CONTINUE.
CONSTRUCTION WILL CONTINUE UNFORTUNATELY.
THE SEATTLE CITY COUNCIL IS LIKE WELL, WHEN WE PROCESS THIS
WITH THE POWER OF MONEY AND ACTUALLY PULL $3
BILLION OUT OF WELLS FARGO.
IN A STATEMENT, WELLS FARGO'S REPORTEDLY STRESS THAT IS
CONTRACTUALLY BOUND TO FULFILLED LEGAL OBLIGATIONS TO ITS
CUSTOMER, HIGHLIGHTING BOTH A SMALL FRACTION OF DAPPLE'S TOTAL
FUNDING IT CONTRIBUTED AND THE BANKS ENVIRONMENTAL
CONTRIBUTIONS.
WELLS FARGO INSISTED ON ITS COMMITMENT
TO ENVIRONMENTAL SUSTAINABILITY AND HUMAN RIGHTS.
WELLS FARGO IS LIKE HEY, WE'RE JUST DOING OUR JOBS, MAN.
DON'T PUNISH US.
BUT WELLS FARGO HAS BEEN CAUGHT UP IN A LOT OF CITY TRAUMA
AS A LATE.
WELLS FARGO IS OBVIOUSLY A HUGE BANK SILLY CAVEMAN,
YOU ARE GOING TO PULL, SEATTLE'S CITY IS GOING TO PULL OUT
OF WHAT WE PROVIDE?
IT IS NOT HER FALL, WE ARE HUGE CORPORATION.
WHAT AM I GOING TO DO ABOUT A?
WE ONLY PROVIDE 5% BUT BEFORE THEY GOT INTO THOSE PARTS,
THEY PLAYED BOTH SIDES OF IT SO MUCH.
WE GAVE 3.8 MILLION TO NONPROFITS, 248 MILLION TO
CONVENE THEM COMMUNITY DEVELOPMENT ONCE AN INVESTMENT.
WE ONLY GIVE A LITTLE BIT TO THIS WHOLE DPL THING AND BY
THE WAY WE ALSO GIVE MONEY TO SOLAR AND WIND ENERGY
THINGS, WE GIVE A LOT OF THEM TUNE UP THERE INTO THE
WHOLE STATEMENT THAT WE HOPE THAT ALL PARTIES INVOLVED
WILL WORK TOGETHER TO GET A PEACEFUL RESOLUTION.
LIKE WE DO THIS AND THIS AND THIS AND THEREíS NOT MUCH YOU
CAN DO AT THAT POINT WHEN YOU'RE THAT LARGE OF A CORPORATION.
WE'RE INVOLVED IN IT AND THIS CAN YOU STILL LIKE US?
BUT I LIKE ABOUT THIS STORY IS HOW LOCAL GOVERNMENT WAS ABLE
TO MOBILIZE AND ORGANIZE AND MAKE CHANGE.
HOWEVER, IT IS KIND OF A DISTRACTION.
JEREMY'S A REALLY GOOD POINT BECAUSE THE CHANGE THAT
THEY MADE AS A DROP IN THE BUCKET FOR WELLS FARGO.
IT IS A POWERFUL STATEMENT TO OTHER LOCAL GOVERNMENTS
THAT YOU CAN AFFECT CHANGE, BUT REGARD TO DAPPLE, IT
DOESN'T DO MUCH UNFORTUNATELY BECAUSE WELLS FARGO IS ONE OF
17 FINANCIERS AND ALSO CONTRIBUTES THEY SAY LESS THAN
5% OF THE TOTAL FUNDS FOR DAPPLE.
IT IS JUST THE TIP OF THE ICEBERG BUT IT IS A VERY
IMPORTANT ICEBERG TO START NOTICING AND TO START
REACTING TO GET PROACTIVE ABOUT.
THAT IS LIKE ABOUT THE STORY.
THE LOCAL GOVERNMENT WAS ABLE TO MAKE A CHANGE BUT WE NEED TO
SEE OTHER LOCAL GOVERNMENTS GET INSPIRED AND SAY ALL RIGHT, WE
CAN ORGANIZE THIS TOGETHER IN A PEACEFUL WAY AND MAKE OUR VOICES
HEARD BECAUSE ONE, CONSTITUENCY IS SMALL AND DOESN'T MAKE A HUGE
IMPACT BUT A BUNCH WELL AND THEN WELLS FARGO WILL LISTEN BECAUSE
RIGHT NOW, JR YOU ARE EXACTLY RIGHT THAT THIS OR TO PUT
OUT A PRESS RELEASE AND THERE LIKE YOU GOT US, AND THAT'S IT.
THEY'RE NOT REALLY GOING TO MAKE A CHANGE BECAUSE THIS DOESN'T
ACTUALLY ENFORCE HER PRESSURE THEM TO MAKE ANY CHANGES.
I THINK THIS IS THE TIP OF THE ICEBERG AND I THINK
THIS IS CHANGED THROUGH LEADERSHIP AND LEADERSHIP
IS IMPORTANT IN MOMENTS LIKE THIS.
WILL SEATTLE'S ACTIONS CAUSED A DOMINO EFFECT AND WILL WE SEE
OTHER LIBERAL METROPOLITAN AREAS THROUGHOUT THE COUNTRY TAKE
ACTION AND DECIDE TO DIVEST FROM INSTITUTIONS LIKE WELLS FARGO?
I HOPE.
THERE'S NO GUARANTEE THAT THAT WILL HAPPEN BUT REGARDLESS
OF THAT, I THINK SEATTLE WINS IN SO MANY DIFFERENT WAYS BECAUSE
THEY ARE SHOWING THAT THEY ARE REPRESENTING THEIR CONSTITUENTS.
THE CONSISTED TO ITS WERE THE ONE TO CALL FOR THIS TO HAPPEN.
WE HAVE A VIDEO SHOWING THEM PROTESTING SEATTLE'S
INVESTMENT INTO WELLS FARGO.
I LOVE THAT THE LAWMAKERS THERE ON A VERY LOCAL LEVEL
DECIDED TO HEAR THEM AND LISTEN.
FOR ANYONE WHO IS AS DISILLUSIONED AND
DISCOURAGED BY FEDERAL LEVEL POLITICS AS I AM, GET
ACTIVE ON A LOCAL LEVEL BECAUSE THOSE REPRESENTATIVES
WHETHER IT IS THE CITY COUNCIL, SIMPLY MEMBERS OF STATE
LAWMAKERS, THOSE OF INDIVIDUALS ACTUALLY DO LISTEN TO YOU
WHEN THEY HEAR YOU OUT AND YOU HAVE MORE ACCESS TO THEM.
YOU CAN START WITH A GRASSROOTS EFFORT AND TRY TO GET THEM
TO HEAR YOUR CONCERNS AND TAKE REAL ACTION LIKE SEATTLE
DID RECENTLY.
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