Its environmental plunder, consumption of third world economies under IMF auspices, and its support of apartheid-era South Africa, and more recently, Enron, has won Citigroup the title of the World's Most Destructive Bank. Today, Thursday, Nov. 21, activists from the Wetlands preserve attempted to serve Citigroup CEO Sandy Weill with well-earned eviction papers and called for his arrest. Part of the Corporate Crime Patrol and Citi Eviction Squad, four demonstrators locked themselves to the door of a Citibank at 57th and Park Ave. and were arrested.
While over 400 American companies, activists claim, have implemented strong social and environmental standards, Citigroup continues to fund destructive projects such as the Camisea gas fields in Peru, the OCP (Oleoducto de Crusos Pesados) gas pipeline in Ecuador, and the logging of California redwoods. Citigroup still engages in insurance redlining in low-income communities. And, along with JPMorgan Chase, the corporation helped Enron disguise debt by structuring sham financing vehicles that earned the two banks more than $200 million, but cost investors and employees hundreds of millions of dollars.
For more information: http://wetlands-preserve.org/
