Apr 8, 2009

Bloggers organize boycott of Chase Morgan

Michigan bloggers are spearheading a nationwide boycott of JP Morgan Chase over the bailout bank’s refusal to help out struggling Big 3 automaker Chrysler, putting 300,000 jobs in jeopardy.

JP Morgan Chase runs a large portion of Chrysler’s debt, and it is refusing to negotiate with the auto company on their debt: a move that could put thousands of hardworking American auto employees, the majority of them Michigan residents, out of their jobs by forcing Chrysler into bankruptcy. Anyone with a JP Morgan Chase bank account should close it out and to transfer their money to a local bank or credit union, and make sure they know why when you close it out.

According to the Detroit Free Press, Gov. Jennifer Granholm said that any banks that received rescue money from the federal government should be open to making concessions on the debt Chrysler owes them to help the automaker reach a deal with Italian carmaker Fiat necessary for its survival.

There is also an online petition and a Facebook group.

No comments: