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Protest at Chase Bank: JP Morgan/Chase Greases the Wheels for British Petroleum
Members of organizations including A New Way Forward demonstrated in front of a Chase Bank branch in Palo Alto, California on June 26. JP Morgan Chase got $25 billion in government bailout money and they grease the wheels for British Petroleum (BP).
Chase is the chief depository bank for BP, which means that Chase essentially handles all the stock services and payouts for BP. Chase holds 27.74% of total ordinary issued shared capital.
Chase is the chief depository bank for BP, which means that Chase essentially handles all the stock services and payouts for BP. Chase holds 27.74% of total ordinary issued shared capital.
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For more information:
http://www.anewwayforward.org
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From Chase, BofA and the other banks on the "Too Big to Fail" bailout list, the talking heads never mentioned that the bank tellers who would be laid off following the impending bankruptcy could have used their job skills at locally owned credit unions also!
The talking heads in corporate media claimed that these banks were all "Too Big to Fail" and that if taxpayers didn't support the bailout then our entire economy would go down the tubes and we'ld all have to go out to the woods and eat ants to survive. (Well, they didn't exactly say THAT, though that was their message; drastic consequences would occur if there was no bailout!)
This shows that the concern was never with the bank tellers being laid off, it was more tied into the absolute power that these big corporate banks hold over our economy. That petrochemical corporations are wrapped up with these banks shows where their true concerns lie!
If all the big corporate banks went bankrupt and consumers and workers all switched over to local credit unions, we would also not be under the financial influence of petrochemical corporations!!
The talking heads in corporate media claimed that these banks were all "Too Big to Fail" and that if taxpayers didn't support the bailout then our entire economy would go down the tubes and we'ld all have to go out to the woods and eat ants to survive. (Well, they didn't exactly say THAT, though that was their message; drastic consequences would occur if there was no bailout!)
This shows that the concern was never with the bank tellers being laid off, it was more tied into the absolute power that these big corporate banks hold over our economy. That petrochemical corporations are wrapped up with these banks shows where their true concerns lie!
If all the big corporate banks went bankrupt and consumers and workers all switched over to local credit unions, we would also not be under the financial influence of petrochemical corporations!!
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