The above image was used by JP Morgan Chase to align itself with Martin Luther King, Jr.
Jamie Dimon, Chairman & CEO stated:
“It’s important for JPMorgan Chase to support Dr. King’s legacy because of the important values he committed his life to promoting, such as equality, equal opportunity, and quality education for all. People like Dr. Martin Luther King are what made America what it is today. The values he espoused are the values that JPMorgan Chase also tries to stand for around the world,”
However, JP Morgan Chase plans to foreclose on the house of Helen Bailey, a 78 year old woman who participated in the civil rights movement, worked as a childcare provider for autistic children, and was a community volunteer.
She has been paying her mortgage for the last 12 years, but on a fixed income and paying a mortgage at a 7% rate, she couldn’t keep up the payments. Note that the 7% rate is almost twice the current rates. I recently refinanced at 3.75%.
A buyer offered to pay off the remaining principal but was $9,000 short. JP Morgan Chase would not accept the offer. It’s estimated that JP Morgan Chase would lose about $30,000 if they foreclose on the house, but yet, they won’t budge on the sale of the house.
Through the tax money of the 99%, we bailed out the banks. Now, when a person from the 99% needs help, the banks turn their backs.
Change.org has a petition available here: http://www.change.org/petitions/chase-bank-dont-foreclose-on-helen-bailey
DailyKos has an article here: http://www.dailykos.com/story/2012/02/03/1061524/-As-JP-Morgan-Chase-Claims-MLKs-Values,-It-Forecloses-on-78-Year-Old-Former-Civil-Rights-Activist
