Surprise: The City of Seattle actually didn't divest from Wells Fargo.

The City of Seattle, most recently making the news for putting a "head tax" on large corporations against the wishes of their own Chamber of Commerce, has a quiet little news flash for you: they didn't divest from Wells Fargo.

An entire essay in the book is devoted to the concept and realities of the Dakota Access protesters demanding divestment from banks and any organization or corporation associated with the pipeline. That the Seattle City Council voted 9-0 in February 2017 to end their relationship with Wells Fargo was seen as a huge activist victory. Much attention was given to this event online.

Funny how not much fanfare and equal attention was given to the current reality, which occurred the second week of May 2018:



That cherry headline is from a May 14, 2018 article in the Seattle Times.

Considering some of the activist moves the city has made, including the employee "head tax" (which sounds like humans are cattle), this quote from a council member at the time ought to be framed for posterity:

“Take our government back from the billionaires, back from [President] Trump and from the oil companies,” Councilmember Kshama Sawant said at the time.
Fine. But the problem is, the way cities and banking are done now, you need a pretty big bank to handle the complexities of major city financial needs.


Sometimes it doesn't matter if Hanoi Jane takes her money out of the big bank and comes up to the casino to serve you turkey at Thanksgiving.


WaPo: How Jane Fonda’s 1972 trip to North Vietnam earned her the nickname ‘Hanoi Jane’



You still need a pretty big bank for huge cities.

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