From Pawns to Players
How Amalgamated Bank went from a tool for garment workers to a tool of finance capital.

If someone told you a billionaire was quietly behind the bank of choice for unions, the Democratic Party, and various leftish causes, you’d probably assume it was George Soros or Warren Buffet.
You certainly wouldn’t guess it was Wilbur Ross, “vulture capitalist” extraordinaire, serial grifter, and Trump’s current commerce secretary.
For the past seven years, Ross’s company, WL Ross & Co., has held a major stake in New York’s Amalgamated Bank, the country’s last surviving union-owned bank, perhaps best known for its financial support of various progressive causes and its role in 2011 as the favored bank of the Occupy Wall Street movement. That an institution dedicated to creating “a more just, compassionate, and sustainable planet” — and which pledges not to give a single dime to climate deniers, union-busters, or opponents of LGBT and reproductive rights — is lining the pockets of a key member of Trump’s cabinet is a symbol of the bank’s curious evolution.