Chase: The Evil that Banks Do

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The following is an email from ShowDown in America.

Meet Virginia Holwell. Virginia paid her taxes this year. She worked for the state of Illinois for 30 years but was laid off last summer. Like many of us, she fell victim to the economic downturn caused by Wall Street and Big Banks. She’s getting on a bus from Peoria Illinois to JP Morgan Chase’s shareholder meeting in Columbus OH on May 16th.

She thought she would have another 10 years of work to pay off her mortgage.  Instead, she is out of work, hasn't been able to find another job and is struggling to make payments on her modest Peoria home with a pension that is one-third her former income.    

Virginia, like many of us, is an ideal candidate for a mortgage modification. But Virginia's bank, JP Morgan Chase, denies the modification.  Virginia is getting on the bus with other members of  Illinois People’s Action to go to the Showdown in Ohio and JP Morgan Chase’s annual shareholder meeting because, like many of us, she wants to save her home.

She also wants to take a stand and turn this country around. And some one has to because Big Banks and Wall Street are trying to run us into the ground. JP Morgan Chase must pay its fair share of taxes just like Virginia and just like the rest of us. Chase must stop foreclosing on families and get small business lending moving again so we can get working and get on our feet.

Join us in Columbus. 

Can’t come? Mark your calendars. On May 17, while we’re at the shareholder’s meeting, join us in the action by calling JP Morgan Chase Senior VP, James Gilliam. Tell him to modify Virginia Holwell’s loan, and keep families in their homes: 312-325-5057.

Rather send him an email? Here you go: James.V.Gilliam@jpmchase.com

Medical Students to Senate Republicans: Repeal Is Not the Solution to Our Health Care Crisis

While I agree with the students here, I question what part of the PPACA (Affordabl­e Care Act) will actually survive to do any good. We've already seen the provision that blocks rates to increase repealed. With rate increases already in effect (or taking effect 1/1/2011) insurance companies now have raised rates by as much as 39% to make up for having to put 26 year olds back on their parents plans (among other things).

Plus they have now made new restrictio­ns on what meds and services are covered. It's business as usual in the suck Americans' health dry for profit game.

The cumulative effect is that PPACA has decreased health care and made things much worse. By 2014 it will require all Americans to buy insurance and submit to this mandated corporate oligarchy, giving Americans less coverage, with continued denial of care and pre-existi­ng condition exclusions at higher costs, guaranteei­ng the corporate oligarchy a steady stream of government mandated corporate welfare to the insurance industry.

Repealed or not, that is exactly what will happen. The difference is that with repeal, people just might get pissed off enough to take to the streets and refuse to pay for health care insurance (and you can bet repeal will not reduce any rates), which amounts to corporate graft. It is naive to think that PPACA will have any positive effect. It is a 2000+ page monster health care legislatio­n written by and for the corporate health insurance oligarchy that runs America.
Read the Article at HuffingtonPost