Brothers and sisters … we are here today to demand more accountability from our financial system… from Wall Street ... from Masters of the Universe who speculate in phony instruments rather than invest in the real economy  

And we're here to support President Obama's call last week here on Wall Street for tough new regulations … to keep our economy safe from speculators and the apostles of greed  

Brothers and sisters  … more Americans will be unemployed this year than in decades … and the deepest recession since the Great Depression hasn't lost hold yet  

Experts tell us millions of more foreclosures are coming  

More people will be hurt  

Banks and other financial institutions must be held accountable for making this mess that required trillions of dollars of our money to clean up  

For the pain they've inflicted on families who face financial ruin …  unemployment … wiped out pensions … foreclosures and bankruptcy  

Every bank of America should be held responsible for correcting this course … and especially for practices that strangle commerce and kill jobs  

Taking public money and paying huge bonuses to executives … rather than investing in the economic engine that makes us go  

Our financial system is a shambles and we're not going to restore its luster until we rein in the abuse by financial institutions like AIG … Citi … Goldman Sachs … and other predators that pumped up the housing bubble … the leveraged buyout bubble and the hedge fund bubble until they burst  

We need a new model for our economy … because this broken neo-liberal model doesn't work at all  

The financial system is a public trust that is a lot like our electric power grid … our whole economy depends on it working well  

It can't be left unregulated … like the neo-liberals say … because people get hurt … and the system crashes  

We need a different model for our economy … where good jobs … not bad debts … drive our growth  

Where workers have a real voice because they have the right to have a union if they want one  

Where all of us have health insurance … and we have the choice of getting it without paying for insurance executives compensation packages  

Our real economy needs a financial system that will support it … not a high-risk system that only supports itself … and the wiliest speculators  

That means strict oversight of banks and other financial institutions that nearly drove our economy off a cliff  

But there has been no accountability … just business as usual here on Wall Street  

More financial self-dealing while real people on Main Street are getting hurt … and it's getting worse every day … unemployment will hit 10 percent this year … and will stay into double digits into next year  

We have let power concentrate to the point where just four banks control more than half the assets of the banking system  

Three of them … Citigroup … Bank of America and Wells Fargo … are too weak to be allowed to return their bailout money back to the government  

And then there are AIG and Goldman Sachs … happily gambling in the derivatives markets until the roof caves in   We handed over $12 billion in public money to Goldman Sachs through AIG … and didn't get a single share of Goldman stock in return  

And we have propped up Citigroup with $45 billion in public cash and $300 billion in guarantees  

And here we are a year after the roof caved in and the same people are still running Citi … and BofA … and Wells and Goldman …  without repercussions … without accountability  

I've got a message for Citi … and AIG … and every other financial institution getting rich at the expense of working families trying to recover from this recession  

If you lock out families wanting homes … and businesses desperately needing capital to create jobs and new opportunities for families  

If you take money from U.S. taxpayers … and spend it on more speculation instead of investing in businesses that create jobs  

If you lard your executives with bonuses and largesse … while you're squeezing families out of their homes with unfair lending  

We're going to fight you  

We're going to tell the truth about what you're doing  

And we're advocating for new regulations to make sure the financial sector is the servant to the real economy … and not its master  

Sisters and brothers … families all over America are hurting because of irresponsible bank practices  

Two million homes will be lost to foreclosure by the end of the year … and experts expect millions more to come  

And it's because of greed and irresponsibility of these big banks … it's that simple  

Taking advantage of homeowners offering subprime loans … and then when that business collapses using public money to fight financial reform … instead of providing much-needed loans to families and businesses  

It was very telling for us to see … a senior vice president at the nation's third-largest bank … Wells Fargo … who used a repossessed home in Malibu California to throw a big party … just a few weeks back  

This was a home repossessed after its owner lost everything by investing in Bernard Madoff's Ponzi scheme  

That is the mindset of these megabank CEOs  

It's party time!  

Cheap Malibu properties … let's boogie!  

And people are hurting all over  

Sisters and brothers … we need an economy that works for working families … and we don't have it right now  

We need banks to be accountable … the entire financial system must be accountable  

With the auto industry … the federal government set strict standards … got rid of failed CEOs and stopped executive compensation deals  

We need the same kind of square deal with the banks … we propped up the banks … but they haven't delivered  

Cash and credit are tight … jobs have dried up … but executives are paid handsomely  

Our economy falters and people suffer … but the richest 1 percent … they're living high on the hog  

That's why the labor movement stands with President Obama in his efforts for financial reform … but we also want to send our President a message today: be bold ... be strong … accept nothing less than real accountability  

We support President Obama's call for a strong Consumer Protection Agency … and we want Congress to do much more than that  

We need strong regulations for derivatives and hedge funds … and sanctions to prevent speculative and dangerous transactions  

And we stand with SEC Chairwoman Mary Shapiro and CFTC Chair Gary Gensler in their fight for stronger regulation for hedge funds and derivatives … and all the crazy stuff that brought our economy down  

The global economy is emerging from near collapse … and risky ventures drove us there  

President Obama said he would stimulate the economy with a plan to put people back to work … and he has thus far … and we know there's much work to do  

A sustained public investment program is essential not only in our country … but around the world  

If the global economic powers of the G-20 decide to back off public investment programs … our unemployment will worsen … our standard of living will fall  

That's why … this week in Pittsburgh at the G-20 summit … global unions are calling for a global tax on short-term financial transactions … to help pay for much-needed public investment  

That's why we joined with Warren Buffett and other major business leaders last week who issued a call for policies to reverse Wall Street's short-termism … starting with a financial transactions tax  

President Obama understands this … as well as the fact that he must confront the real beast … right here on The Street  

Yes … we need more public investment to create jobs and opportunity … and we also need more public eyes watching over the guys with the money  

A Consumer Protection Agency must have real teeth … power to oversee anyone who sells a mortgage or a credit card … power to put an end to redlining and equity stripping  

That's what President Obama is fighting for … and we agree … but Congress needs to do more to stop foreclosures and require all banks to restructure unfair loans  

And we need to reorganize these mega banks that are too weak to lend … just like we did with the auto companies  

President Obama says he wants to get that authority … and we support him completely  

We need bank regulators with authority to create and enforce new rules for executive compensation … so we don't have Goldman Sachs doling out $700 million in bonuses to its elite investment bankers  

The Europeans are asking us to get tough on executive pay  … but we should be the ones leading the way  

Brothers and sisters, we are fighting to redeem the promise of America  

An America that rewards work as well as investment  

An America that gives everybody a fair opportunity … to work hard and succeed  

An America that still holds out the Dream of home ownership  

I intend to fight for this just America … along with Liz and Arlene and millions of motivated union members  

We're going to fight for economic and social justice in our nation … and in our communities  

That's what the labor movement is all about … it's what we've always done  

We're going to raise the voice of millions of Americans who have been left out … or pushed aside  

Together we're going to fight for a better America … and with your help … we're going to win  

God bless you all … and God bless America