2-million member union calls for Wall Street bailout to include $350 billion injection to address urgent needs of workers

WASHINGTON,DC -  With Washington moving toward a bailout of Wall Street banks, theService Employees International Union (SEIU) called for action onlegislation that will launch a new era of prosperity and address thereal economic concerns of America's working families. SEIU leadersrepresenting the union's two million members overwhelmingly approved aresolution calling for legislation to address the priorities of workingpeople.

"The era of corporatecronyism and worship of the market is over--we need a new economic modelthat puts the government on the side of the people," said Andy Stern,SEIU International President. "It's time to take a deep breath and havea full discussion about how we solve our problems now while creating aninvestment strategy to revive the American economy."

Theresolution comes as Capitol Hill lawmakers and regulators consider thefinal details of a $700 billion bailout package that fails to addressthe inadequate oversight, lack of transparency, and excessiverisk-taking practices of private equity firms, hedge funds, and otherunregulated institutions that are now culminating in what is globallyperceived as the most severe economic crisis since the GreatDepression. In particular, the SEIU resolution calls for dedicatedinvestment in programs that would improve the lives of tens of millionsof Americans, including:

1. Relief for struggling homeowners. Estimated cost: $0.
2. A national health care plan. Estimated cost: $130 billion over two years.
3. A plan for energy independence and green job creation. Estimated cost: $20 billion over two years.
4. Retirement security. Estimated cost: Negligible
5. Improved infrastructure. Estimated cost: $22 billion over two years.
6. Tax reforms to correct a system that currently favors CEOs andbusiness while contributing to a growing income divide. Estimated cost:$80 billion.
7. Reforms that ensure workers have real freedom to choose a voice at work. Estimated cost: $0.
8. Affordable education. Estimated cost: $100 billion over two years.

Today'sresolution comes as SEIU continues its unprecedented, multimilliondollar initiative to elect a progressive, working families majority atevery level of government. More than 1,000 SEIU members have taken timeoff their jobs to work full time on the effort and 100,000 nurses,janitors, child care providers, and other workers are volunteeringafter work and on weekends as part of the initiative.

"

###