Why does JP Morgan Chase hate Chrysler -- and thus the state of Michigan?

[SharonRB]

http://emptywheel.firedoglake.com/2009/04/04/bailed-out-bank-jp-morgan-dooming-chrysler/
http://emptywheel.firedoglake.com/2009/04/05/chryslers-two-options-what-jp-morgans-insistence-on-bankruptcy-will-mean/
http://emptywheel.firedoglake.com/2009/04/06/save-american-jobs-close-your-chase-account/

If you live in Michigan (or elsewhere, if you want to support our state) and have an account at Chase -- cancel it!

Tune in to the beginning of Nancy Skinner's show tomorrow (if you don't have a local affiliate, you'll have to stream it by clicking on the "Listen Live" link at http://www.nancyskinnerlive.com) to hear Nancy and Jane Hamsher discuss this. Nancy's show airs from 3-6 p.m. ET. Nancy has three Chase accounts she'll be closing (and she drives a Chrysler).

Jane will have a diary up at FDL about this in the morning.

[SheilaT]

1. I already don't have an account at Chase.

However, a person could hate Chrysler but not hate Michigan or even vice versa.

[SharonRB]

2. What Chase is doing is going to cause a lot of people

in Michigan to lose their jobs.

[SheilaT]

4. That's true, but it's intellectually lazy

to equate hating Chrysler with hating Michigan. It's also intellectually lazy to assume that Chase hates Chrysler. All they care about is the bottom line, and it's irrelevant that Chrysler will be hurt and that people in Michigan will lose jobs.

I'm not suggesting you shouldn't do what you must to stop Chase from this, but don't make such sweeping generalizations.

[Demeter]

3. They Just Want to Collect on Their Bets

They put all these bets that Chrysler would belly up through AIG Credit Default Swaps or CDS. If it doesn't, they lose. If it does, they rake in the moola. It's elementary.

Chase probably hates Cerberus, too. Everybody does.

[blue_onyx]

5. Not only does Wall Street get treated better than the auto companies

but now they may help push Chrysler into bankruptcy. I'm pretty sure Chrysler and GM will both be in bankruptcy by summer. 20% unemployment in Michigan....here we come.

[OhioChick]

6. Why does JP Morgan Chase hate US IT workers?

JPMorgan to up outsourcing to India by 25%

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=3774358

JP Morgan told to explain India outsourcing plan

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=3791555

[ChromeFoundry]

7. Good question. n/t

[tabbycat31]

8. they should not get bailout money

until all those Indian jobs are brought back here.

[HiFructosePronSyrup]

9. Who would have ever thought that JP Morgan would be an enemy of the worker?

:crazy: