When the original holders of the Infinity Rubber factory went bankrupt, a new buyer took it over at a significantly discounted price. The new owner financed their payment through a rather predatory loan.The rate for this loan was set at 18%- usury!
So, the question one must ask is why didn’t they speak out against the previous creditor? I’m no fan of the banks- but, this case, it seems a bit unfair to attack BMO saving this company from a loan shark! So was this a flashmob in support of usury?
The loan had already been issued, and it was too late to withdraw. So, the action had no potential to help the poor souls who have been on-strike for so long. From the outside, this seems like meaningless grandstanding- a waste of everyone’s time and resources. Or, perhaps, the union had an ulterior motive?
If anything, the only people who could benefit from this action are the predatory lenders– BMO may be more reluctant to crush their unfair deals next time!
There are a couple of important lesson here for all occupations:
1. Simply doing something because ‘it supports a union’ is not reason enough. It is now obvious they sometimes lose sight of what’s important.
2. Not only is transparency more respectful to your fellow occupiers to- but, had the organizers shared the idea (the why, not the where/how) in advance, we’d not find ourselves dancing in support of a loan shark!
What would Abbie Hoffman do? (WWAHD)