This spring, about a dozen housing advocates marched up Russian Hill to Wells Fargo CEO John Stumpf's house, to protest the steady stream of foreclosures in San Francisco. On another day they bused over to Los Altos and Hillsborough, to the homes of a couple of the bank's board members; their rhythmic chants (“The banks got bailed out! We got sold out!”) pierced the suburban tranquility.
In each of those instances, the protesters were met by a Well Fargo security detail. And each time, the protesters handed a guard a letter to pass to the banker, asking, among other things, for a moratorium on foreclosures.
The fundamental problem of shifting a paradigm is that the people with the most power to do the shifting tend to benefit the most from the status quo.
While those protesters were marching outside those bankers' homes, those bankers' business in the housing market was booming.
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