We’ve learned that AFL-CIO President Richard Trumka’s incessant speeches against Wall Street, no matter how forceful, simply have no cash value. He keeps on asking the big banks to pay for the millions of jobs they destroyed, but they haven’t paid a dime and don’t intend to. The truth is that he hasn’t confronted the banks’ CEOs and asked them bluntly for payment.

In these tough times, it’s good that we have Trumka, a great cheerleader, who knows how to keep our spirits up, even while we’re losing members and bargaining strength. Here’s a quote from his “feel good” speech at a recent Los Angeles labor rally, Trumka boasted:

“How are we going to rebuild America? With jobs! Who ís going to rebuild America? Working people with jobs!”

It seems not to have occurred to Trumka or his aides that this would be an excellent time to organize bank employees. Less than 1 percent of the nation’s approximately 1.8 million bank workers are unionized. Given the leverage that unions have—heir bank deposits—an organizing campaign in the heart of Wall Street could be successful—and yield collateral advantages as well.

It is worth noting that workers are unionized in a majority of banks in Europe, Asia and Latin America. Their representatives negotiate collective agreements with managers of state-owned and private banks. Periodically, workers decide to exercise their right to strike when their demands are not satisfied.

U.S. Labor Offered Foreign Help to Unionize Major Bank

Unionized bank workers from Brazil, England, Chile, Germany and Uruguay are encouraging American unions to start a campaign against Grupo Santander, their common enemy, which last year took control of Sovereign Bank, whose U.S. branches have never been unionized. Santander branches are, on average, 75 percent unionized outside of the United States, according to UNI Global Union Finance Director Oliver Roethig.

Santander, the fourth largest bank in the world by profit, has already launched its American anti-union campaign by firing three high-level Sovereign employees from its Boston branch. Santander denies discriminating against employees for union activity, saying Sovereign Bank adheres to all U.S. labor laws.

When Santander acquired Sovereign, it immediately laid off 23 percent of its new subsidiary workforce. The company cut pay, slashed paid hours and doubled the cost of healthcare for workers.

It is disgraceful that banks have been unionized in countries around the world, yet the American labor movement has allowed U.S. banks to remain non-union, even though they are responsible for the destruction of millions of jobs.

Since the AFL-CIO has been unable to make the banks pay for the enormous damage they have caused, it should at least be able to organize their employees and thus gain some measure of restraint over reckless investments that can cause another economic crisis.

The banks use our money to conduct their profitable operations, We, their depositors, ought to have some say as to how they conduct their business.--Harry Kelber.

LaborTalk (93) will be posted here on Friday, August 20, 2010 and on our two web sites: (www.laboreducator.org) and (www.laborsvoiceforchange.org).