Chase bank adding insult to injury… STILL!!!!
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As if being partially responsible for crashing the American economy wasn’t enough…Chase is at it again. Their greed is boundless and they happily profit from human suffering. Not many people know that Chase funded Enron, the company that committed fraud in the energy market and caused the rolling blackouts and enormous energy costs in California in 2000/2001. California is known for it’s heat waves, droughts, and fire seasons. It is even said that one man died during those blackouts when power was cut to his dialysis machine, while countless others suffered in vain from the heat. Until de-regulation and Enron California had never experienced an energy crisis. There had always been enough power. Now Chase is up to the same kind of tricks. When you drive up the demand and limit the supply you can make huge profits, never mind all the people that get hurt. Luckily for us FERC caught them this time. Chase was found guilty of overcharging for energy and made to pay at least some of the overages back. They have been sanctioned and fined for fraudulently manipulating California’s energy market (AGAIN) and also for blocking the retro-fitting of an energy plant they control that must be up to par by 2013. They have received a 6 mos suspension from trading in the energy market in 2013. This of course is small potatoes to them and does not amount to the jail time they deserve. Chase of course has cried foul and said it was all a misunderstanding and unintentional. If you believe that? I have some ocean front property in Arizona to sell you too!
Chase has a long history of bailouts, unethical business practices and profiting from acts of inhumanity. During WWII they disobeyed a direct order from the president not to release funds to Nazi Germany. They did so anyway, profiting from and partially funding the Holocaust.
As long as money is more important than people, people will continue to suffer and even die at the hands of those who stand to profit from their demise.
All of the information I have outlined here in this article is available to all who would seek it. Chase is just one of the big banks responsible for crashing our economy and we should not be banking with any of them, others include Goldman Sachs, Wells Fargo, and Bank of America. Since Enron we have regulatory agencies watching energy traders so hopefully we will never again experience what happened before. Fines and sanctions are like a slap on the wrist to these behemoths, it is merely the cost of doing business for them. If we all banded together, just average every day people and refused to bank with them that would really hit them in the only place they care about (their bottom line)! We have far more power than we think we do. (Evil prevails when good men/women do nothing…Edmund Burke) Note: I added women to that quote. Smack these banks where it hurts and take your power back and take your money elsewhere!
Chase bank adding insult to injury... STILL!!!!,
Tags: Bank of America, California, Chase Bank, consumers, Corruption, Dani Heart, economy, energy, Enron, fraud, manipulation, nazi germany, rip off, Wells Fargo
Nice one Danni, so true. These corporations get hit with huge fines but it means nothing to them, they can easily stand it. Look up the amount of companies that have been fined around the world for this sort of illegal activity, it’s incredible, but paying off the fines means nothing to them. Until jail time is implemented for the heads of these companies they are just going to keep on doing it because the profits they make far outweigh the fines…this is seen as business today.
Enron full film -- business ethics? Does that term even exist today? http://www.youtube.com/watch?v=_xIO731MAO4
I know Garry and it makes me sick. We saw the Enron film and when the day trader was talking to someone on the phone saying burn baby burn about California I was so angry I wanted to commit acts of violence. I remember those heat waves, fires, and all the suffering, and to think someone engineered it and was profiting from it just makes me ill. WTF? is wrong with people??? You are right of course, there needs to be jail time. Some of the people from Enron did go to prison, but I suspect a lot got away with it. Chase is full of criminals at the top that need to do jail time. When I found out about the Nazi Germany bit.. I have to admit that even I was shocked. Who the hell thinks they are above a direct order from the sitting president? Just wow, and that was the worst kind of suffering I know of and they funded it. So them letting people fry in California with energy bills they can’t afford seems to pale in comparison. Still..they need to be held accountable and do the time they deserve!!!!!!!!!!!1 Thank you so much Garry for commenting.
I worked in a bank(outsourcing) a few years ago and you are right. It seems that while the company is growing its employees still suffer.I have been reading about one of the well known banks facing controversy regarding money laundering and it is sad that banks these days have lost their sense of shame.
It is so sad, and I know big corporations do not treat their outsourced employees well. It’s awful. The whole reason they outsource in the first place is because they can get away with paying very little and the employees basically don’t have any rights or collective bargaining. Thank you so much for commenting Baxter. You are always appreciated.
Chase is the worst of the bad. Imagine my horror when one of my properties mortgages got sold to Chase.
I feel for you Ron. Wells Fargo purchased our mortgage. Unfortunately there is nothing we can do about our mortgages being bought and sold. sighs.. Thank you so much for visiting me here.
Thanks for bringing this issue to the forefront. I’m hoping soon enough, people get sick of how outrageously unjust our corporate culture and laws are and get inspired to make serious changes. Go off the grid. Invest in yourself. Don’t let those greedy bastards keep getting rewarded for holding the public hostage.
I hope so too Anya. I am amazed at how many people are unaware.