Chase bank reported excellent earnings for the second quarter, so did Goldman Sachs. It appears that most everybody else didn't do so good. It dawns on me that the longer the overall economy staggers and lists from side to side, the better the situation for anybody with money. Panicked sellers abound and buys are there for the taking.
When I then factor in the almost giddy like manner that Jamie Dimon likes to remind us all that his credit card division and home mortgage division are still languishing, doesn't it make sense that maybe Mr. Dimon WANTS his credit card division and home mortgage division to remain lackluster because a messed up economy reduces takeover and acquisition costs?
If the entire economy continues to tank, doesn't Jamie Dimon and Chase Bank continue to swoop in and make extremely profitable deals acquiring panicking companies at overly depressed values? While the economy is tanking, can Chase Bank get better derivative deals because there is virtually no competition?
If Chase bank can make huge short term profits in acquistions, mergers, and derivatives by creating ongoing losses in the credit card and home mortgage fields, it would help explain Jamie Dimon's almost cheerful reminders that his credit card and home mortgage divisions are still losing money.
I believe it is unethical to purposely do harm to millions of americans who had manageable credit card debt and solid home equity lines by raising credit card interest rates to almost 30% and freezing home equity lines well below fair market value, but it appears that is what Chase Bank has done. If so, then I also believe Chase Bank and Jamie Dimon are worthy of an FBI investigation. But hey, it's only me saying it.
Will anyone else join in?
In the meantime, if you in the media continue to refuse to link higher credit card default rates with HIGHER OVERALL INTEREST RATE CHARGES and Chase Bank's FREEZING OF HOME EQUITY LINES AT WELL BELOW MARKET VALUE, then you are actually fueling the economic downward spiral and are no longer a reporter reporting news, you are actually creating and profiting from it when you cash your paychecks.
If you haven't yet figured out that Chase bank is actually manipulating the economic slow down so they can profit from the slowdown, well, now you know.
HOW YOU CAN HELP! MAKE A DAILY-PROTEST.com sign and put it where others will see it. Daily-Protest.com signs can be placed in a storefront window, a bulletin board at work, or a countertop. Raise curiosity and awareness about how Chase Bank is harming a LOT of of their BEST customers by making a Daily-Protest.com sign.
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