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Bank Of America Investment Today was to be the launch of our "No Way BofA" Campaign, with nearly 30 events scheduled for a first National Day of Action. Activists in Charlotte, NC were to visit Bank of America's headquarters, while folks in Boston were getting ready for a "parade of shame" from the Boston Common to Fleet's (now a part of BofA) downtown HQ. Others around the country were planning bank branch visits, street theater, call-ins to the CEO, and other creative events.

These institutions', American Development Bank, World Bank, U.S. Overseas Private Investment Corporation, U.S. Import Bank, $352 million in approved financing for 18 projects; thus, fossil fuel financing in the Americas outpaces clean energy by a ratio of 63 to 1. Most of this investment in fossil fuels has come from US taxpayers, who are unwitting underwriters of loans, guarantees and subsidies to Big Oil. Although the Americas have obtained over $22 billion in public support for fossil fuels since the Rio Earth Summit in 1992, most of this oil and gas has been exported to the U.S.

Investment Opportunity All this preparation paid off yesterday, with a fantastic finish to one of the shortest campaigns in recent history!

With talks yesterday about a possible sale of the Sachsen LB, which is the state bank of Saxony, prime crisis. The SachsenLB had billions of asset backed securities in its portfolio which are now about to default on the back of the US credit woes. The SachsenLB is privatized, in contrast to most other state banks which are state owned, and its securities were backed up by the banks owners; however the clear overexposure of the bank through risky investments called for more transparency of banks investments.

Banc Of America Investment Bank of America, fearing the looming threat of today's National Day of Action, agreed yesterday to adopt sweeping new environmental policies that surpass even those set by Citigroup, their largest competitor.

& Company is a diversified financial services company with $482 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 6, 000 stores and the internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest credit rating from both Moody's Investors Service, "AAA, " and Standard & Poor's Ratings Services, "AAA."

Banking Investment The policy will be released publicly within the next few days, so stay tuned for much more info and analysis of what it will mean for climate change, forest protection, and indigenous rights.

Upon your response, Investment Account. bank remittance of the funds to your designated bank account.

Investment Solution Strategic Bank of America's recent change of heart, and the impacts its new policies will have, are a testament to the power of our grassroots movement for democracy, accountability, and sanity in our global economic system. This victory would not have been possible without the hard work, support, and vision of all the activists, organizers, and rabble-rousers who make up the RAN and Global Finance Campaign families.

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Investment Banking Services The tide is turning, and financial institutions like BofA are beginning to read the writing on the wall. But of course, Bank of America is just #2 on a long list of "Liquidators" who have yet to adopt environmental standards. RAN will be naming a new target in our Global Finance Campaign soon, and if you have any input or advice for us on who should be next, we'd love to hear it.

Bank Investment Email dan@ran.org to get involved!

Alternative Investment And of course, we'll keep you updated as soon as we have more to share about this fantastic victory!

Online Investment Services For the Earth and for Justice,

Accompany Essential Investment Dan and Ilyse

Investment Company The Global Finance Team at RAN
Rainforest Action Network - 5/4/2004

Topic: Trade

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