Wrong Loan Amounts Aggressively Collected, Part II (Credit Cards). More destitute Americans parade in, along with those who worked with Chase who described document falsification on credit cards, illegal collections, and sales of this debt to investors that could amount to massive fraud :
"The bank's errors could call into question the legitimacy of billions of dollars in outstanding claims against debtors and of legal judgments Chase has already won, current and former Chase employees say."
Explain why JPMorgan Chase & Co. stopped filing lawsuits collecting consumer debts , shutting down a collections machine that last year collected hundreds of millions of dollars in monthly judgments. List all lawsuits and amounts by month for the past 10 years and validate each amount and the subsequent collection. Provide a description of all credit card debt and a plan to make investors and borrowers who have been cheated whole. Justify firing whistleblower Linda Alamante .
Occupy Wall Street Suppressed. Occupy protestors from hundreds of American cities -- children, health care workers, school volunteers, lawyers, writers, musicians -- occupy Dimon's cell. They are particularly annoyed that hashtags of Twitter, which received a $400 million investment from JPM, showed #OccupyWallStreet tweets surging in nations around the entire world except the US, in an act of apparent censorship. Even worse is what appeared to be illegal arrests at Brooklyn Bridge protests shortly after people learned of JPM's $4.6 million gift to the New York City Police Department's Foundation, the largest ever received by the foundation.
List every conversation and mail that anyone at JPM had with Twitter about Occupy Wall Street. Explain the timing of all components of JP Morgan's donation and discussions that preceded it.
Lobbying. A worldwide assembly of people of all colors and classes affected by JPM's lobbying enter the prison. Politico reports that last year JP Morgan spent $7.6 million on lobbying ; more important may have been the Dimon access to President Obama since the beginning of the financial crisis. The company has successfully whittled down and stalled legislation.
List all meetings, provide materials used, and outline conversations from lobbying efforts from the past decade. Explain, Mr. "Barely Democrat ", why the JPM PAC and affiliates have given the most money to Mitt Romney and comprise his second largest donor and what you expect from him.
Justify a $700 trillion derivative market versus worldwide market capitalization of only $36 trillion. How can you need to hedge many times the total of all stocks? How can these instruments not destabilize global markets again? Guarantee all JPM executives' assets if they do. And stay out of Washington, forever, unless you're called to account for past deeds.
Investors and the Market , Retirees with pensions, colleges, nonprofits, parents saving for education -- and many starving worldwide walk into the cell. In the previous decade, JPM steered investors into portfolio models with higher allocations to alternatives, structured products, private equity, and commodities. These "diversifying" instruments were more highly correlated, risky and expensive (often through hidden or buried fees). Alternative products -- as well as JP Morgan stocks and bonds -- racked up huge gains for the company and worse, commodity speculation led to starvation .
Show all your portfolio models for the past 15 years and the number of clients and amount of money in each one by year. Explain the percent of money in JPM products each year. Provide an estimate of JP Morgan profits if all your clients used non-synthetic, non-derivative, simple stock and bond exchange traded funds versus today's allocations.
Worldwide devastation -- Hundreds of millions of people march into Jamie's jail cell. The International Labor Organization has estimated 50 million more are unemployed than before the recession, and cuts and austerity continue to take a toll. At least several hundred million worldwide are affected directly by these job losses, even more indirectly as a result of lower government revenue and spending, less consumption, downward mobility , etc.
Develop a plan to make up losses to billions of people and thousands of institutions. Provide major funding for lower salaries post-recession, unemployment claims, lost government revenue, and higher food prices. And don't make some paltry efforts in the name of "
Philanthropy -- In walks in everybody sickened by the banks attempt to buy prestige and respect by fixing a miniscule part of what they've done.
Explain your $10 million gift to the Brookings Institution for the "Global Cities Initiative"; you've devastated many cities worldwide; fixing them shouldn't bring you credit and glory. Help the governments who run, and the people who live our cities in a substantive way. Not willing to do that? Sit down and shut up. You aren't going anywhere, least of all to some fancy make-believe "you're a good guy" meeting with a 1 percenter or a fundraiser. These p---ed off folks, they are your people.
Fran????ois Hollande, the Socialist French President who just assumed power, ran a campaign with an anti-banking slogan.
"My true adversary ... has no name, no face," he said. "He will not be elected, yet he governs. My enemy is the world of finance."
Explain why that should not be the rallying cry of the population and the refrain of US presidential candidates, particularly with respect to JP Morgan Chase.
(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).
1
1
1
