Investigation Reveals AFL-CIO, SEIU in Bed with JP Morgan Chase

Story from Breitbart
by Peter Schweizer & Wynton Hall

Investigation Reveals AFL-CIO, SEIU in Bed with JP Morgan Chase
It is being revealed that the evil J.P. Morgan banks has been involved for years in a mortgage promotion.

Not unusual since they are a bank and all.

Problem this time might be a bit ironic.

The heavy duty Unions have been rallying against JPM for general reasons.

The same Unions are the ones involved with JPM and special mortgage arrangements for union members for 12 years already !!

Maybe not so bad if the average family can benefit.

But why the irony ?

Strange deal ?

If union members are upset that the millions union bosses have dumped into defeating Gov. Walker in tomorrow’s recall election appear not to be working, they may be furious when they learn the details of a new investigation by the Government Accountability Institute.

Here are a few of the highlights:

Despite the nearly 200 demonstrations against JP Morgan Chase, Bank of America, and the other big banks, the AFL-CIO and SEIU are in bed with JP Morgan Chase—big time. Through something called the “Union Plus Mortgage Program,” the AFL-CIO and SEIU provide their members over 80,000 home mortgage loans totaling a whopping $15.2 billion. And who have the unions relied upon for 12 years and running to offer these home loans? You guessed it, JP Morgan Chase, the very bank the big union bosses direct their members to rail against.

To hear the heated rhetoric against Chase coming out of the big unions, the average union member would have no way of guessing that their union is in business with the big bank. “Chase’s stranglehold on the economy is everywhere,” says President of SEIU-USWW Mike Garcia. “They’ve kicked California families out of their homes.” To rectify the injustice of it all, SEIU members are even directed to a webpage titled “Ask Jamie Dimon For a Meeting.” As the SEIU’s website declares: “Chase hurts everybody. They’re making a profit by lending taxpayers their own money…JP Morgan Chase is manipulating government budget processes and charging local and state governments high interest rates.” Odd words for unions who are in cahoots with JP Morgan Chase.

There’s more. .......

read the article for more links and info.....

It looks like the unions may be engaging in ...... um uh well .... of all things...

Capitalism ???

listen to me, but don't watch me !!


A new rattle segment grows each time the rattlesnake sheds its skin

JPM colluded with Government officials and agencies? I can't imagine them doing that.

Kinda like saying the sun is hot. Over and over we hear these stories. My cash in Chase despite it all. Why? The "partnership" between regulators and Government makes it the safest bank in the country right now. Sad but true.

They tried to get me to invest in Gold Certificates (not real Gold) the second I had a six figure business savings account. Three days after I told them I won't buy paper gold the price went down 100.00+ an ounce.....

Trust them? Heck no. But owning a business makes it impossible not to deal with a bank. Hell I pay three different companies just for my credit card processing fees, just so I can make any freaking money.... Everyone gets a piece of the pie. The more I make, the more they take.

The only thing that will fix the world is crashing. We are all gonna get caught in it. The key is the timing. Read, listen and watch carefully it will happen fast. Spend that cash on supplies right before it does.

Great thing to bring to the fold, Xeunchen. I hope this thread gets some traction, because this indeed is a unique circumstance. Let me know if I am wrong, but IMO, unions - in theory - seem like a good thing. Until, you find out that at the higher up levels, they are as corrupt as any corporation, government - be it state or at the federal level - and any organization you can throw about. Nonetheless, and I didn't read the complete article yet, it would seem that you call is interesting - is it capitalism or politics? Regardless, they seem to be playing the game.

On a side note, is it me or is JPM taking some hits? On the surface, I think it's all show, but then I have this little feeling like they might have opened a pandora's box that they are soon realizing they are having difficulty managing.

Anyway, thanks for the post.

Originally posted by alyoshablue
Great thing to bring to the fold, Xeunchen. I hope this thread gets some traction, because this indeed is a unique circumstance. Let me know if I am wrong, but IMO, unions - in theory - seem like a good thing. Until, you find out that at the higher up levels, they are as corrupt as any corporation, government - be it state or at the federal level - and any organization you can throw about. Nonetheless, and I didn't read the complete article yet, it would seem that you call is interesting - is it capitalism or politics? Regardless, they seem to be playing the game.

On a side note, is it me or is JPM taking some hits? On the surface, I think it's all show, but then I have this little feeling like they might have opened a pandora's box that they are soon realizing they are having difficulty managing.

Anyway, thanks for the post.

edit on 4-6-2012 by alyoshablue because: (no reason given)

I agree that unions in concept are fine.

But as with everything, the Corruption is the killer.

And IMO, the recent JPM "loss" scandal is just a show.

They are using it for political reasons.

They might be setting up another accounting trick "paper loss" fiasco.

Remember it is based on trades in Europe for the most part.
(I think)

Those wild derivative markets total something like $700 Trillion.

There's no assets to cover anything.

They can easily create a financial "crisis" on paper and start a panic.

Beside that, anytime somebody shows a "loss", it means somebody else shows a "gain".

Originally posted by xuenchen
They are using it for political reasons.

I think it is more accurately described as social-mood reasons. "Oh look, poor JPM lost some money." Remember, there is a relatively small portion of those paying attention, which initially think - what the heck is this? But the fact that it got all the MSM traction, means to me, they were trying to push an ah shucks moment on the general populace.

They might be setting up another accounting trick "paper loss" fiasco.

Remember it is based on trades in Europe for the most part.
(I think)

Yeah, I haven't paid attention enough to know what was the rationale for the loss, only that it was derivative based.

Those wild derivative markets total something like $700 Trillion.

Did you see the recent PDF published by the ex-Goldman Guy about the total derivative exposure? If I find it, I will post it.

There's no assets to cover anything.

Beside that, anytime somebody shows a "loss", it means somebody else shows a "gain".

That's an interesting point of script in two ways: (1) It's all FIAT and even though I don't know the financials like I should, they should be unsecuritized - they have to be. So, that should all be risk and it should fall on the "gambler." (2) In a banker sense or UCC sense, it is all about the ledger, so your logic would be correct. However, if it is based on fictions, can it easily be erased? I think so in theory, but I think practically, it will be leveraged like the IMF (or whomever) is screwing Greece.

Anyway, enough for tonight. Be well.