Fight Back News Service is circulating the following statement from Students for a Democratic Society at the University of Minnesota.

Within the last few years Newark, New Jersey and nearby communities have been devastated as thousands of homes have been foreclosed and tens of thousands made homeless. An Oct. 24 protest at Bank of America here, sponsored by the People's Organization for Progress, charged Bank of America and other banks are responsible for these calamities.

Since the near collapse of the banking system, Americans have paid billions to banks that are now making record profits. Meanwhile, students, workers and homeowners are facing unforgivable unemployment, homelessness and debt. In spite of this, the Obama administration continues to escalate the occupation of Afghanistan and maintain troops in Iraq, adding trillions to this country's deficit and financial crisis. It is the working people who will pay for these wars, just as we are paying for bailouts to greedy banks.

Los Angeles, CA – The fall quarter started off with a bang across the University of California system, Sept. 24 as thousands of workers, faculty, undergrads and graduate students walked out of work and class to protest severe budget cuts, layoffs, furloughs and tuition hikes.

Milwaukee, WI – 100 students came to the Student Speak Out rally Sept. 14, an event created by Milwaukee Students for a Democratic Society to raise awareness of how the economic crisis is affecting students, faculty and staff at the University of Wisconsin-Milwaukee.

Minneapolis, MN – The University of Minnesota Students for a Democratic Society (SDS) chapter infiltrated the ‘Welcome Week’ convocation to drop banners, Sept. 3. Convocation at the University of Minnesota has historically been an event to welcome thousands of new students to the university and sing the praises of the university administration. ‘Welcome Week’ is increasingly closed off to any issue that runs counter to the administration’s message.

In the midst of the worst economic downturn since the Great Depression, leaders and organizers across the country are gearing up for the “They Say Cut Back, We Say Fight Back!” national conference planned for Oct. 3 in Chicago, Illinois. From California to New York, people who for the past years have been fighting back against cuts to programs that serve our communities, against home foreclosures and evictions and against plant closures will come together to share experiences and make plans to work together in the coming years.

Americans are celebrating the defeat of warmonger and angry rich guy John McCain. The voters wanted change – an end to war, lies and corruption. Many correctly saw McCain as the continuation of Bush’s failed policies, so they punished him in the voting booths. To be sure, McCain’s pathetic response to the economic crisis and defense of tax breaks for the rich sealed his defeat. Working and middle class voters are angry about the economy, opposed to the $700 billion bailout and looking for a leader who will “spread the wealth.”

Minneapolis, MN – On Friday, July 31, at about 3:00 p.m., Rosemary Williams got word that the deal with Greater Metropolitan Housing Corporation (GMHC) to buy her home fell through. This, after the drama of July 24, when shortly after a 24-hour eviction notice was served, she got word that GMHC was to purchase her home and arrange to lease it back to her. A week of relief and celebration and hope was capped off by Friday’s devastating news.

Editors note: Since this article was written, Minnesota Governor Pawlenty has announced there will be no special secession of the legislature this year and, in an unprecedented move, he states he will use the line item veto and his power to unallot to carry out massive budget cuts.