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Indymedia UK is a network of individuals, independent and alternative media activists and organisations, offering grassroots, non-corporate, non-commercial coverage of important social and political issues. |
28-11-2009 20:33
On Saturday 28th November protests took place in Brighton, Wrexham, Falmouth, Hastings, Tunbridge Wells and Cambridge [Pics] as part of a day of action marking the launch of Smash EDO's'Target Barclays' campaign.On November 30th an action took place in Plymouth.
Smash EDO have been calling for autonomous actions against Barclays Bank to force them to stop providing 'market maker' services for ITT Corporation on the NYSE. Smash EDO's site states 'Bankers and institutional investors are the glue that finances the state terror wreaked by the arms trade. Companies like EDO do not operate in a vacuum but are propped up by the networks of corporations and investors which constitute the global capitalist system which puts profit before peace, greed before people.'
As ITT’s market maker, Barclay’s acts as a ‘middle man’, purchasing shares from a seller and holding them until such a time as a buyer becomes available. This ensures the stability of ITT’s share price by allowing shareholders to sell off their assets at any time, even when a buyer is not immediately available, and vice versa. Barclay’s also profits from this enterprise, by selling ITT’s shares at a small markup, which nevertheless generates a considerable income when spread across large sales. Barclays is also the largest UK investor in the global arms trade.More.
Target Barclays webpage| Smash EDO Press Release| Smash EDO website| Anti-Militarist Network
Smash EDO's next big mobilisation is the REMEMBER GAZA SMASH EDO MASS DEMO JANUARY 18TH. Assemble at 1pm, Brighton, wear black.
Read more | 1 comment >>Cambridge Smash EDO Feature Archive >>
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Cambridge Activists Target Barclays – SmashEDO!
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Cambridge Smash EDO Newswire Archive >>