'Break Up the Banks' protest in Madison - WKOW 27: Madison, WI Breaking News, Weather and Sports

'Break Up the Banks' protest in Madison


MADISON (WKOW) -- A group of local protestors hit Capitol Square Saturday morning, targeting the largest of banks.

The Wisconsin Network for Peace and Justice rallied outside a Chase Bank branch, chanting sayings like "JP Morgan Chase, we're gonna put you in your place."

They're asking that the federal government use its anti-trust power to break up large banks into many smaller ones. "These are the banks that have destroyed our economy, and now they're blackmailing taxpayers saying if you don't give us trillions of dollars in bailout money, you'll never see your jobs again," said Steve Burns. "We don't think these banks should have that kind of power."

Burns said he does believe in nationalizing the banks to avoid a financial collapse in this country. While he also said smaller, local banks can be healthy for the economy, he believes large banks have spent too much time speculating on exotic investments, which is what contributed to the recession in the first place.

The rally was one of 50 that were planned across the country.

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