Edited note: Originally posted JPMorgan Chase as a recipient of bail out money which was incorrect and this is edited to focus mainly on the out sourcing of jobs.
These assholes went one step to far. They need to be boycotted and now. And I'm sending a letter to Pataki and my Congressman (Rangel). We need to get put a stop to this and I want us all to write to President Obama and whoever else. At this point this is calling for some sort of nationalization. I'll even write to Krugman about this. It's not fair.
I was just watching the show on MSNBC after Morning Joe and I think it was Cameron (the newscaster) said that for one job as a janitor there were 700 applicants and then JP Morgan Chase a recipient of our money is outsourcing...this is call for a HELL NO!! We need to rise up, and we need to protest outside their doors. We need to remove our money from their banks (which I'm going to do tomorrow--my mum's money) and we need send letters to our Congressmen, our Senators, and local officials because there is no way in hell this should be allowed. I live in NYC, I'm going down to the FED and complain about this crap---They also need to be protested in front of.
Fuckin' tea party idiots need to protest the real criminals and JPMorgan Chase is on my hit list alongside Citigroup, BoA is my last hate list.
I used to work for Chase, they called me a Marxist and apparently my boss had it in to fire me when he could because he found out I was into Marx. Well then...I guess he was right, and I'm planning on having him lose his job for dumping American's who will work for pittance for outside workers.
Article below:
JPMorgan Chase to Increase India Outsourcing 25%
America's second-largest bank plans to spend $400 million on work outsourced to India to streamline its IT operations
By Pankaj Mishra
The second-biggest bank of the US, JP Morgan Chase, which acquired Washington Mutual and Bear Stearns recently, will increase its outsourcing to India by 25% this year to nearly $400 million. It will also manage the integration of the acquired companies from India to bring down the cost of integrating different information technology (IT) systems.
Right now, JP Morgan outsources $250-300 million worth of IT and back-office projects every year to Cognizant, TCS and Accenture, apart from to its own captive centre in Mumbai.
"JP Morgan CIO Guy Chiarello said last week that he will increase outsourcing to India, and will drive several integration projects from there," a New York-based expert, familiar with JP Morgan’s outsourcing plans, told ET last week, on conditions of anonymity. A spokeswoman for JP Morgan India could not reply to an email query sent by ET on Friday, and the bank’s spokesperson in the US too did not reply.
"JP Morgan is one of the first banks in the US to have fleshed out its outsourcing
strategy ever since the banking meltdown happened. Many others are still undecided about their IT spend," said a senior official at one of the technology firms, who did not wish to be quoted.
http://www.businessweek.com/globalbiz/content/mar2009/gb2009039_431274.htm?chan=top+news_top+news+index+-+temp_global+businessOther threads dicussing this:
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=3774358&mesg_id=3774358Contact information as provided by
Frenchiecat:
http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=132&topic_id=7334714Here's the
WhiteHouse contact:
http://www.whitehouse.gov/CONTACT/We need serious regulation and legislation on these pricks
The banks and I need Obama to take control and put some laws on these banks or at least mandates with these funds. There needs to be serious restrictions.
Videos showing lack of restriction/mandates/legislation for funds given to idiot banks:
http://www.youtube.com/watch?v=Mj0JAfq4eskhttp://www.youtube.com/watch?v=A-DOwLnQ4nkhttp://www.youtube.com/watch?v=dW8_w9QjJA8Other monies recently dished out to these fools:
Citigroup nonsense: Citigroup Said to Pay $13 Million for Scrapped Resort Trips
http://www.bloomberg.com/apps/news?pid=20601087&sid=a5_f5rPe0U48&refer=homeCitigroup Said to Pay $13 Million for Scrapped Resort Trips
By Josh Fineman
March 9 (Bloomberg) -- Citigroup Inc., the recipient of $45 billion in government rescue funds, doled out $13 million as compensation to employees whose trips to resorts the company was forced to scrap, two people familiar with the matter said.
Citigroup paid 1,900 agents of its Primerica Financial Services Inc. unit $5,000 each for missing a three-day stay at a Bahamas resort, the people said, speaking anonymously because the amounts aren’t public. Some 2,000 Smith Barney brokerage advisers got debit cards valued at $1,000, $2,000 and $3,000 for various canceled getaways.
President Barack Obama warned last month that companies receiving government bailout money “can’t go take a trip to Las Vegas or go down to the Super Bowl on the taxpayers’ dime.” Bank of America Corp., which like Citigroup has accepted $45 billion from the government, last month moved a health-care conference to New York from Las Vegas.
Primerica paid the agents, who are mainly independent contractors, because they won a seven-month-long sales contest, the company said. “We were legally obligated to do so,” Susan Thomson, a Citi Holdings spokeswoman said. Primerica and Smith Barney, both profitable businesses, are part of Citi Holdings, a new unit of Citigroup.
Other threads talking about it:
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3774553
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