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NoLandGrab NoLandGrab's List: Barclays
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Mar 21, 09
DEVELOP DON'T DESTROY BROOKLYN leads a broad-based community coalition advocating for development that will unite our communities instead of dividing and destroying them. We oppose Forest City Ratner's "Atlantic Yards" proposal in Prospect Heights, Brooklyn.
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Mar 24, 09
The shaky state of affairs for a proposed pro basketball arena in Brooklyn is turning heads across the Hudson.
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Mar 24, 09
Pascrell said in a telephone interview: “The bailout money was never anticipated to be used to put your name on a sports arena. The circus is over. The taxpayer has to be protected. I’m more outraged about this than the A.I.G. bonuses.”
Barclays and the Nets signed their 20-year deal in early 2007, two months after Citigroup signed its $400 million deal with the Mets to put its name on Citi Field. Citigroup has received $45 billion in Troubled Asset Relief Program funds. Barclays got its bite out of TARP from A.I.G., but has not taken bailout money in Britain.
In the Barclays’ situation in Brooklyn, Pascrell said, “A shovel hasn’t been put into the ground, the agreement has an escape clause and no money has been exchanged.” He added, “The secretary has to appeal to these people.” Pascrell said he would consider legislation “as a last resort” if Geithner cannot persuade Barclays to drop out. -
Mar 24, 09
“I believe that any further payments of taxpayer money… be conditioned on the cancellation of any stadium or arena naming-rights agreements that may be in place,” wrote Pascrell. “Federal money was made available to banks and companies like AIG in order to stabilize the financial system and free up credit markets, not for high-priced marketing opportunities.”
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Mar 24, 09
In a letter Monday, Pascrell, a Democrat from Paterson, told Geithner he believes any further payments of taxpayer money to financial firms should be contingent on cancellation of any sports naming rights deals.
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Mar 27, 09
The UK is keeping a watch on Barclays in Brooklyn:
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Mar 27, 09
Angry New Yorkers are urging the crusading state attorney-general, Andrew Cuomo, to block Barclays' $300m-plus deal for naming rights to a new basketball stadium in Brooklyn, after the UK bank received taxpayer money through AIG.
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Barclays bank is helping to bankroll President Robert Mugabe's regime in Zimbabwe, providing millions of pounds of support for his vilified land reforms, The Observer can reveal. Mugabe's opponents describe the bank's activities as a 'disgrace' and an 'insult' to the millions who have suffered human rights abuses. Barclays is the most high-profile of three British-based financial institutions, which, in total, have provided more than $1bn in direct and indirect funding to Mugabe's administration. The other two companies are Standard Chartered Bank and the insurance firm Old Mutual. According to influential newsletter Africa Confidential, that first disclosed the Barclays' loans, the British organisations provide an economic lifeline keeping Mugabe's regime afloat.
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Slave trade profits may fund Jay-Z's New Jersey Nets' Brooklyn arena
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Jay-Z, part owner of the New Jersey Nets, announced recently that the new arena for the team will be built in Brooklyn, his hometown. The arena's naming rights were purchased by Barclays, a UK-based bank, paying $400 million for 20 years. Just after the January 18th announcement though, local politicians and journalists criticized the team and its majority owner, Bruce Ratner, for taking money from a bank whose founding family profited from their ownership of slaves in the 18th century and their involvement with the South African government in the 1980s.
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But what exactly do these guys want from Barclays Bank? Well, Jeffries told The Brooklyn Paper, “All options should be on the table, including payment for past wrongs and termination of the agreement." Green, is a strong supporter of Atlantic Yards, said that the $2.5 million that Barclays will be paying to repair public basketball courts throughout Brooklyn (as part of the $400-million naming-rights deal) is “not enough.†But if we're talking about paying reparations for the slave industry, is it even possible to come up with a dollar amount that would be "enough"?
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Jay-Z Supports Slavery
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