I'm a entrepreneur starting my 4th company since 1983. During the start process, there's a lot of interaction with the financial community. I've been talking with angels and some private investors and floating private placement memoranda to selected channels and I'm hearing this disturbing chatter about JP Morgan Chase. This is highly unusual, because I would normally have no dealings that involve a commercial bank, and certainly no one from their investment house.

So I'm starting to do some research and found this comment on diggers realm about outsourcing help. A frightening pattern of what I would consider to be immoral and bad faith dealings across the entire company is emerging. They write these obscene credit card agreements that lay a trap for unsuspecting customers that kick in 31.3% interest rates on a credit card advertised as 2.99%. It's hard to avoid them because they've acquired nearly every card servicing business in the country.

I had to get out the GPS to ensure I was still in the U.S.A. because last I looked we had some usury laws on the books, not to mention Taft-Hartley and Sherman.

What's going on here? Illegal? Probably millimeters this side of the line. But these corrupt and immoral company leaders know exactly what they are doing - they are destroying the trust bond fabric of this nation and without any government intervention to put a stop to it. They prey on those that can least afford it and are unable to understand what is being done to them.

Oh, wait a minute - here's the problem, my mistake. Right after they managed to change the bankruptcy laws that allowed the smallest of victims to escape their web, it seems that Chase acquired DOJ last October at the end of FY05 when it defaulted on some credit card debt.

It's going to take a groundswell of public outrage against Chase and companies that use them in their affliate credit card programs. I'm going to start identifying those that I have and get rid of them and tell the affiliated companies that I am ceasing all patronage until Chase is gone.

I am searching for victims of mortgage fraud that was perpetrated by JP Morgan Chase, WMC Mortage, SPS aka Fairbanks...or anything relating to predatory lending.
I also am searching for former employees of these
companies who would be willing to give testimony in
Court (Arizona), it can be via telephone or in person
during Trial even written testimony is helpful.
Can email me at: Ipredict7@aol.com Please put Fraud
in the Subject line. Thank you.
Regards,
Joyce

I on my third Bankrutcy, fighting to hold on started as Equicred,then fairbanks and now SPS, 10 long yeas

4 years of busting ass?? I dont know what you mean? Unless you mean it literally. Ive done my degree here in the US and I think most of the good American students got into very decent jobs. Whereas the ones who were found drunk on the roadside every Friday night (and there were tonnes of them) were fucked. So were all such non-Americans (yes, that includes Chinese and Indians). So you guys need to wake up and welcome the world of "meritocracy", or else you will be fucked and rightly so. Your problem is that youve had it all too easy all your lives, which had to change. Nature has a way to balance. You guys who crib about tough academic levels in US cant even imagine how tough its to get into an IIT (India)(the best undergrad place ever) or Tsinghua (china). People who get in are nothing less than prodigies. And when they come here (with scholarships, again rightly so), they breeze through with straight A's. You will have to beat that if you want your jobs to stay. MERITOCRACY!! or you can whine about it all your miserable lives. I say this from experience. I started in the US with a base salary of 85K, as a fresher, without any prior experience in the industry. But God knows how hard I worked for it, unlike some of my mates, who enjoyed every fucking Friday of their course. Its all a balance my friend.

The reason I got into this site is as I have a former Bank One AOL card which is Chase now. They charged interest after I paid my balance in full by the due date.
I left the country and coming back after two months I found the balance of ZERO up to $54-probably the monthly payment they make to an Indian.

When will the people revolt and demand severe penalties for companies that outsource? It's not protectionism, it's common sense that our country cannot sustain the continued raping of our high paying jobs and still remain competitive in the world.

By that same logic please also scrap the WTO agreement as every exporting country robs the other country of jobs as they manufacture products that could be produced locally and please tell industry leaders not to crib when developing countries do not allow ur goods...

Kid seems like you just woke up after tripping on drugs your entire life. The world economics has changed. Americans have done a wonderful job the last 2 centuries , they worked hard to make America what it is today. The present generations don't know what working hard is, all they know how to do drugs,have sex and go for vacations being in debt all life. Its time to wake up and start working hard. There are millions of products that you sell in china,india making billions each year and when it comes to moving a job to these countries not just because they can save money but also because they are highly skilled compared to their american counter parts and also who work very hard, you tend to lose your nerve.

Time to wakeup and do your shit

Liberal americans get what they deserve! Take all the jobs and give them to people who actually deserve them and worked harder than the stupid americans.

All americans want is a free easy ride in thier ignorance and selfishness. Now it's finally catching up to them!

Stupid americans :)

I don't mean to be mean, but if you Americans insist on preaching free-market capitalism to the rest of the world, you'll have to lead by example and keep a stiff upper lip when your jobs go to more competitive countries. America is about competition, so now compete and shut the fuck up.

Ok so everyone is mad about the jobs going to India, but if you really look at it its not there fault. Most people in America are NOT EVEN HIGH SCHOOL GRADUATE! I can understand the frustration, because I am in the IT field with aspects in Finance so now one knows better then a person in IT field what outsourcing is. IF PEOPLE IN AMERICAN STOPED DROPPING OUT OF SCHOOL AND IF EDUCATION WAS FREE (LIKE IN INDIA, OR ATLEAST 1/2 OF WHAT ONE HAS TO PAY TO GET A COLLEGE DEGREE)this would not happen. 90% of that country speaks English and no one gets into a job market before they finish Bachelors. Not only have that, what we learn here in college they already known that in the 9th grade. So you see the difference, MORONS! So next time before blaming others, we should look at our faults. Honestly, I have nothing in favor of them but look at it…the only reason we make noise or use obscenities because we are educated and we don’t like our jobs going to another country. So instead of blaming other people maybe you should really look at people in US that don’t want to work because working more then 8 hours per day is a crime here! I have a master and I am perusing my PHD…but how many people in America really have masters? Forget about having a PHD! People in countries like China, India have at least 50% of educated people with Master or above. So you see, why jobs are going there!

Instead of blaming others, maybe we should look at our faults first!

America made it, created it marketed it and now export it. I love my country (USA) and I care about others in the world, but I will have to say that India's are being exploited again and again by others. First the British and now the States.. they are working for wedges that are poor and they don't get the same benefits and care as their co-workers do in Europe and the states.
Don't be fools :)

I might be disappointed too if I were to lose my job tomorrow but I wouldn't whine over it, instead I would look to re-invent myself as with the fast paced world tomorrow there would be enirely new industries requiring new skill sets, probably not even being taught at universities. It has always been a very competitive environment, only difference is that globalisation has resulted in new avenues and far more people can compete. It is like a vicious cycle (like it has always been), globalisation leads to increased prosperity for American firms, forcing emerging markets' local firms to compete aggresively, American firms looked for ways to cut their costs and began moving jobs to places like India/China/Philliphines etc., which opened up employment opportunities within these countries and higher disposable incomes with the young talented work force, that leads to higher expenditure due to brand awareness and local taxes being eased a little bit, which eventually turns out as lucrative figures in P$L of the American companies as they announce positive earnings on Wall Street. Corporate America has been doing phenomenally since 2001, about the same time when outsourcing caught up pace.
I would pack my bags and head straight to the emerging markets as there is demand for good talent and that would give me the much needed experience/expertise that would help me make the jump to the next level.
That's what I am doing next month and trying out my luck with the bulge bracket investment banks.

I have to agree with many of the negative comments from those on this blog that came to America for a better life- Americans do need to stop crying and work harder as the days of old. Capitalism is such that change is ever present, requiring the American worker to adapt.
The thing I don't agree with is the off-shoring of technology jobs. I have worked in a number of firms that have off-shored. They soon find out that nothing is accomplished. Language barrier, timezone differences, lack of understanding the business, etc, etc. The overall factor is the buzz factor that started in the Silicon of off-shoring, "saves money, and the productivity is great." They soon found out and have brought the work back. I know, I live in the SanFran and work amongst the technology here. The American companies simply need to come back to reality and realize that the "brilliant" Indian technology guy is 99% of the time one who is full of bullsh't, reciting theories read in a book, but simply can't implement. I suggest that the 99% of the Indians I have worked with stick to coding a VB app on their desktop at home. The vast majority of them cite "universities" on their resume, but when a simple googling is done- no such university or it is some ridiculous school of crap. They can't handle simple questions in the initial interview, they use a "shotgun" answer, running in circles hoping that the interviewer can't decipher the bullsh't they spew. Don't forgot that the Indian technology person always, and I mean ALWAYS thinks their solution is correct, even when they are completely incorrect. It is funny how I sit in meetings and let them spew and watch as not only myself, but other peers from China, Nepal dispute their comments. It is known amongst all my peers at various companies, whether they be American, Chinese, Japanese, Nepalanese when entering meetings with Indians- let it go in one ear and out the other- they have no f'ckng clue what they are talking about......

I totally agree with mistyhead. It is really sad to see how our American Jobs are being exported to other countries, creating everyday a more difficult situation in every recent graduate that wants to look for a job. For some reason (probably because they haven't really had the chance to get in touch with an indian), most people think indians are the "very highly skilled" workers. And that's how they (the indians) sell themselves, even that is not true at all. As with ALL the countries in the world, in india there may be brilliant people. But this doesn't mean that we need to bring them here to the U.S. Its amazing the HUGE number of indians that are trying to come to the U.S. everyday. This will make that someday (in 10, 20 or 30 years), we the Americans, will loose the culture that differentiate us from other countries. Every time I go to different cities here in the U.S, it's scaring how many indians you see walking on the streets, with that number increasing every single day! If we don't stop this, the day where we can find an indian in every corner will come. Remember that they are reproducing themselves like rats! It is estimated that by year 2025, India will be the country with the largest population, surpassing China. This means, that with over 1 billion people that are right now starving, the pressure to come to the U.S. and other 1st world countries will increase dramatically.

To give more specific numbers, I checked the USCIS site and some local newspapers, and found that in July 2007, 300.000 indians were trying to apply for permanent residence. Three hundred Thousand Fucking Indians! And remember that every one of those will want to bring their families to the U.S, so multiply that by 6 (easily). That explains the reality of the problem we have here. Let's do something, for God's sake!

Life is tough. It’s not going to give you an inch. So take the crap it throws at you and move on. Lost your job tough luck bro. Need a tissue? Might have it! Want sympathies? Might get loads of sympathies. Want a job that is where it boils down to. So go ahead say and write anything you want but its you there looking for the job and the faster you find it the better it for you because the world doesn’t give a damm about you. Don’t like foreigners in your country then be very ready to kiss goodbye your social security check in the future. By the way dude America was built by immigrants so you may want to think before you want to kick everybody out of your country.

Exactly FUCK YOU AMERICANS.. BURN IN HELL, THE LOT OF YOU PASTY WHITE FUCKERS

Like the natives comeing back home. Indians were the orignal owners of the Americas and the fcuking starving europians entered the country with out a green card and killed them and used the africans to get fat on the land and now it is pay back time. fcuk the americans.

You know what really sucks, companies using cheap labor and cheap materials have resulted in the US consumer, the ones whose dollars are feeding you assholes, having to put up with the cheap shit products and bad service coming out of the Middle East and China. What even sucks more is we pay the same or more for it then we did for quality US made products we use to be able to get.

Are you sure this isn't a plan for a one-world government? One world currency? Then the rich will get really rich because they'll control everything, under one world "JP Morgan-Chase" bank.

It's in the works people...no one will be ready.