Transnational action today against private equity giant Blackstone

Blackstone is one of the largest private equity firms world wide. It also is used to “invest” the money it collects into speculation with housing and mortgage in many countries, the U.S., Spain, Germany forinstance. Recently it bought up parts of the publicly bailed out Catalunya Bank. People from the orgnaization of those affected by mortgage (PAH) in Barcelona as well as groups in New York City and San Francisco did some parallel action of protest.

See the PAH movie and statement:

Blackstone, the world’s largest real estate private equity fund bought part of , a Spanish financial institution that received 12 billion euros ($15.4 billion) of taxpayers’ money as a bail out. Blackstone buys non-performing loans at huge discounts but these loans are actually families, families who have lost their jobs and are now about to be evicted from their homes. Everyday citizens receive no aid or solutions to social problems while global financial billionaires profit from bailed out banks. For PAH activists this is abusive and unjust to all citizens. These homes belong to people not to financial profiteers. Foreclosures and evictions are rapidly escalating in Spain under Blackstone’s pressure, but the PAH has a message: this is a global fight for the right to housing, we won’t stop, and we will win. Si Se Puede


Read about the PAH International Committee