PART I
JP Morgan Chase, the recent beneficiary of Federal Reserve backing to ‘save’ beleaguered Bear Sterns with OUR tax dollars, is now showing it’s gratitude to the American public by embarking on a firm-wide effort to out-source and off-shore considerable amounts of internal functions to India.
Chase has ‘partnered’ with Cognizant (
http://www.cognizant.com/html/home.asp)to provide cheap labor pools in India along with H1B visa holders here in the States in order to ‘improve the bottom line’. The end result of which is hundreds, if not thousands, of American Citizens losing their jobs.
These new ‘resources’ have begun to show up in droves in such areas as Internal and External Help Desks, Customer Service Representatives, Call Center Staffs (Chase recently ‘closed’ its Phoenix Call Center), Human Resources, Benefits Administration, and (of course) Information Technology.
Yes, my dear D.U. friends, YOUR account information (Social Security Numbers, Account Numbers, Balances, and other Financial Transactions) are now being viewed elsewhere.
Do YOU have a Chase account? You might want to re-think that!
Recently, in a letter to shareholders in the 2007 Annual Report (after record revenue and earnings), Chase Chairman and CEO Jamie Dimon, said that Chase ‘will not sacrifice higher returns, solid investments, meaningful customer service or good common sense (just) to get better earnings in a quarter’.
Now, maybe I’m missing something here (I never claimed to be the sharpest tack in the box) but, what in the Sam Hell makes good common sense about eliminating American Jobs, and thus devastating American lives and the families that depended upon those jobs?
While there is no basic problem with Chase being a ‘world wide financial institution’ for the love of God, let the East Indians take care of the East Indians in India, the Germans take care of the Germans in Germany, the Chinese take care of the Chinese in China and LEAVE OUR AMERICAN JOBS ALONE to be done by Americans taking care of Americans!
So why are there no links? Well what I have just posted is not exactly common knowledge.
How do I know this? I have just spent the last 18 months on the inside watching it happen and this morning at 10:00 AM, I got screwed by it. So it’s back to the job boards in a bad economy.
Senator Obama wants to be our President and says he will penalize companies who export American jobs overseas. Well, here is a good place to start. Here is a company that paints itself as ‘one of the good guys’ so their explanations should be very interesting.
If any of you out there on D.U. thinks this is a horrible breach of the public trust and happens to have a pipeline to the Obama campaign. Please send them Part I of this post. Let’s let Chase know that we’re watching.
I’m not sure if it’s worth bothering Hillary though, after all the corporations just love her, and she’s not about to bite the hand that feeds her.
PART II
Many of you (along with my wife and myself) have watched financial devastation roll through large portions of our country these past few months and wondered how in the hell this could have happened.
Many of you (along with my wife and myself) I’m sure have wondered: Are those ‘Fat Cat’ ‘Movers and Shakers’, the upper 2% of the population who control 90% of the money so greedy that they would allow this to happen for the sake of a higher dividend and some more money added to the millions they already have?
The sad answer, I’m afraid, is YES they would and they will tell us all that they all sleep very well at night.
What is happening now in the United States, is the ultimate culmination of the economic theories developed by Milton Friedman while head of the Economics Department at the University of Chicago and in turn espoused to hundreds, if not thousands, of impressionable young minds who, for whatever reason, decided that Friedman made sense and became his ‘disciples’.
Details of Friedman’s gory approach to economics and capitalism can be found in ‘The Shock Doctrine – The Rise of Disaster Capitalism’ by Naomi Klein. If you have not already read it, I encourage you to do so and soon. However, be warned, this is not a book to read just before you go to bed at night.
What is happening now in America was in fact tested out and refined in Latin America, South America and Europe. You will read of economic disasters and say to yourself, ‘My God! That is exactly what’s going on in our economy now’.
What is happening now in America is no accident, IT WAS PLANNED! The seeds were planted elsewhere. Once they matured they were transplanted here and the roots have run deep.
Right now I’m not sure if we can ever get rid of it, and I fear for my grown children’s future and for the future of my yet un-conceived grand-children.
And I fear for the future of our nation for there is indeed evil afoot in the land and far, far too many days until November. To paraphrase Gordon Lightfoot, ‘The gales of November come early’ and they are blowing now!
SO VOTE! VOTE DEMOCRAT! LET’S TAKE OUR COUNTRY BACK! YES WE CAN!
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