DC ReInvest pressures city government on investment policy

The city of Washington, DC invests $2 billion in Wells Fargo, which supports dirty pipelines (like Dakota Access), private prisons, and racist, predatory lending practices. The solution: push the city toward full divestment. Tuesday evening (April 13) at the Southwest Library, the newly formed coalition known as DC ReInvest gathered for a public mass meeting. DC DSA was well accounted for with seven of our comrades present along with representatives from most of the other six founding organizations: 350 DC, Rising Hearts, SURJ DC, Socialist Alternative and DC Fights Back.

Led by SA's Sarko Sarkodie, the meeting welcomed newcomers to the campaign, which in the short term aims to have DC (as well as individuals) cut ties with Wells Fargo while seeing the District reinvest back into its communities over the long haul.

So far the campaign has had some typical highs: getting 6 out of 13 of the DC Council to endorse our proposal of divestment; and lows: being stonewalled by Council Financial Committee chair Jack Evans (Ward 2) thus putting a hold on the proposal moving forward. The meeting ran for about an hour and a half with plenty of audience participation. I invite members to join this effort and am happy to try to answer any further questions.

This article first appeared in our Weekly Update for April 21.

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