AIG spent $165 Million on bonuses, and the nation is outraged.
BUT a recent article in the Columbus Dispatch says that JP Morgan Chase is preparing to spend about $400 Million to transfer thousands of American jobs to India, and NO ONE seems angry about this! I am furious.
JP Morgan Chase took taxpayer money in the bailout, and now plans to eliminate the jobs of some of those taxpayers! This is FAR worse than the bonus payments, IMO, because the impact is long-term. Once those jobs are sent to India, they aren't coming back. It's one more slap in the face to America's dwindling and suffering middle-class.
The proposed law to retroactively assess a 90% tax on the bonuses scares me to death. I think it's a bad precedent. BUT if they can pass something as unique as that, WHY can't they pass a law that says any firm taking bailout money can NOT outsource any more jobs until they've paid the government back in full?
PLEASE PLEASE PLEASE tell me this makes you angry too! And please give public voice to my outrage! If you Google "JP Morgan Chase India" you can find online articles and blogs to verify the story, but I have not found it reported in any of the major newspapers, like the NY Times, or on Network or cable news.
I would love to see national attention focused on outsourcing by bailed-out firms!
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