Occupy Protesters Pitch Tents at CPB Downtown
Occupy Honolulu is shaking things up a bit. It has made a move against a local bank. Our Hawaii Moneyblog has the story:
Occupy Honolulu expanded its encampment over the weekend to Honolulu’s financial district downtown, according to H. Doug Matsuoka’s blog.
Protesters set up camp outside Central Pacific Bank’s downtown headquarters following a sidewalk protest Friday.
“The group targeted the headquarters of Central Pacific Financial Corp. for the loss of $61 million of the $135 million in TARP funds it received,” Matsuoka reported. “While overcompensating its executives, it continues foreclosures against homeowners.”
The 2009 federal bailout of Central Pacific Bank — Hawaii’s fourth-largest bank — incurred a $60 million loss for the U.S. Treasury. It was the only Hawaii bank to participate in the federal Troubled Asset Relief Program, or TARP.
