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JPMorgan Chase - Patriotic or un-American?

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By Larry Croft


Chase Tower New York City

Image from Wikipedia http://en.wikipedia.org/wiki/270_Park_Avenue
Image from Wikipedia http://en.wikipedia.org/wiki/270_Park_Avenue

The Larry Croft Mission

To express commentary on current events and the U.S. Government from a conservative point of view.

This blog, published August 31, 2009, contains 791 words.

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Permission is hereby given to quote in context and reprint from this blog as long as this blog is properly referenced.



I'm one disappointed person. Disappointed at what I've learned about the JPMorgan Chase and ACORN connection. After working six years at JPMorgan Chase (Chase), I thought its executives had better judgment than to get in bed with ACORN. To me, anyone who has even the slightest connection with ACORN should research its history and current activities.

Chase
I don't recall anyone complaining about Chase management during my employment. In my job as a low-level customer service employee, I would have heard complaints in my circle of friends if they had any to share. Sure, many of us disliked rude customers but rude customers aren't management's fault. And, many employees left - turnover was high - for various reasons. Some because they didn't like the work which I understand because the job was demanding. There were days I wished I were home sick.

Still, I do not see how anyone could have left over a genuine dispute with management. Chase, at least at my location and until I retired in August of 2007, was a top-notch place to work. Its medical benefits, training programs and diversity practices were hard to beat and for the most part employees and local supervision relations were free of friction.

The primary reason for excellent employee relations is the Chase approach to employee evaluations. At call centers, employees are on the phone taking or placing one call after another. Speed, accuracy and professionalism are essential. Chase required employees to measure up. Using statistical reports and random quality monitoring, monthly objective performance evaluations were a part of the job.

I would have recommended anyone to apply for work at Chase until a week or so ago when I learned of the Chase-ACORN connection.

ACORN
At its website, Association of Community Organizations for Reform Now (ACORN) identifies itself as, "the nation's largest community organization of low- and moderate-income families, working together for social justice and stronger communities."

Its website describes how it is an advocate for affordable housing, better schools, fair housing, fair tax fees, foreclosures, Gulf coast recovery, health care, immigration, living wage, paid sick days, predatory lending, utilities and voter engagement.

Sounds OK doesn't it? On the surface, yes. But, there is more.

Below the surface
ACORN has a dark side. Here are some news items to keep your mind active:

  • The New York Times reported in a July 2008 article by Stephanie Strom that Dale Rathke, an ACORN employee and brother of ACORN founder Wade Rathke, embezzled nearly $1 million eight years earlier. The theft was hushed up by a few employees. Neither ACORN board members nor the police were informed.
  • Voter registration fraud charges were aimed at ACORN from many accusers all across the country during the 2008 November election. ACORN denies widespread voter registration fraud as one would expect but did agree to tighten management controls regarding their voter registration solicitations. An online search on "acorn voter registration fraud" will turn up more information than you will want to read.
  • The House Conservatives Fund, an online publication, reported that liberal Democrats slipped into the so-called "economic stimulus" bill a provision to give millions, if not billions, of dollars to ACORN. ACORN, a non-government and a not-for-profit organization, is described in the article as the ultra-left-wing group that has been accused of voter fraud and funneling millions of dollars in taxpayer money into liberal political activism.

My beef
None of this is good. But, what sticks in my craw about JPMorgan Chase is that it donated not less than $5 million to the ACORN group over the years. Peter Flaherty, in an August 19, 2009 Fox News Channel interview with Judge Andrew Napolitano (video), made these comments about Chase and its CEO, Jamie Dimon:

  • Total donations probably exceeded $5 million,
  • The donations were given as a result of shakedowns to keep the "picketers" out of management's neighborhoods,
  • Some Members of Congress call ACORN a criminal enterprise that funnels government money to its 361 different entities,
  • The New York Times said Jamie Dimon is Mr. Obama's favorite banker,
  • Mr. Dimon reportedly has phone hotlines to Rahm Emanuel and Tim Geithner.
  • The bank is very political and
  • William Daley, brother of Chicago Mayor Richard Daley, is on the Chase payroll in an unnecessary position for political protection.

My Questions
Why does Mr. Dimon accept ACORN's bully tactics? Why did Mr. Dimon's predecessors accept it also?

But, my biggest "Why" is why the hotlines? I can only speculate.

So, is JPMorgan Chase patriotic or un-American? If Mr. Flaherty is correct, it's an easy question to answer: JPMorgan Chase is clearly un-American because its actions are not in the best interest of the United States.

Patriotic business men and women place their own well-being subordinate to that their country.

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