How Chase Continues to Profit from the WAMU Collapse while Washingtonians continue to suffer

Washington workers struggle with unemployment, hours and benefits reductions and foreclosures while big banks and corporations reap the benefits of bailouts and corporate tax loopholes.  Washington workers bailed out big banks, like Chase, and it’s time for Chase to re-pay its debt to the community. Why Chase?

What Should Chase do?

Invest our money to create good jobs in Washington State!  If Chase invested the $1.4 billion it stands to receive from the Washington Mutual bankruptcy case in job creation, it could create an estimated 20,000 good jobs in Washington State.  Underserved communities in Washington lack access to basic necessities like healthy grocery stores, affordable housing and community health clinics.  Investing in the businesses that will provide these much-needed services helps the community and creates jobs that this community needs to get back on its feet.   Investing in our communities is investing in the health of Washington State.

How can we Fight Back?

Banding together, residents from King and Pierce counties are demanding that Chase invest in our communities.  Our numbers are growing and we need you to stand up with us.  You can get involved in a variety of ways:  from attending a meeting to sign-making –click here to learn how you can make a difference.  In the last month, Working Washington has come together to take action on Chase bank – here are a few examples:

  • Chase bank attempted to persuade Governor Gregoire to veto SB 5921, which, in part, requires that Chase disclose the $.85 ATM fee Chase charges TANF recipients on each ATM receipt.  Members of Working Washington called and emailed Governor Gregoire to urge her to sign SB 5921 and we succeeded – click here to learn more about this victory!

You vs. Chase’s Lobbyists? You Win.

After our emails and phone calls urging her to do so, Governor Gregoire has signed a bill forcing Chase Bank to disclose the 85 cent ATM fee they charge TANF aid recipients. Thank Govermor Gregoire now by writing an email in support of her decision.

Just one week ago, we called on Governor Gregoire and to stand up to Chase Bank’s corporate lobbyists.

We wanted the governor to sign a provision in SB 5921 that would force Chase to disclose the 85 cent ATM fee they charge TANF aid recipients, but do not reveal on their ATM receipts. Just read what Gina Owens, a Working Washington activist, wrote to supporters about the victory:

BREAKING: Victory!  After our emails and phone calls urging her to do so, Governor Gregoire just signed a bill forcing Chase Bank to disclose the 85 cent ATM fee they charge TANF aid recipients.

Thank Governor Gregoire now by writing an email in support of her decision. http://action.workingwa.org/page/speakout/thanksgov

We united, we called, we emailed, and now we have our first win!

Just one week ago, we called on Governor Gregoire to stand up to Chase Bank’s corporate lobbyists.  We wanted the governor to sign a provision in SB 5921 that would force Chase to disclose the 85 cent ATM fee they charge TANF aid recipients, but do not reveal on their ATM receipts.

We beat the Chase lobbyists, who were reportedly pushing the governor for a line-item veto. They would have been thrilled to see this provision go down without any attention, but we showed that Washingtonians can stand together against big corporations.

Click here to send a message in support of Governor Gregoire standing up to the lobbyists and signing this bill into law. http://action.workingwa.org/page/speakout/thanksgov

Yesterday she signed the bill without removing the provision, meaning, by law, Chase must disclose the fee that we took action to publicize.

It’s a clear victory for all of us.  While many of us are still feeling the painful effects of the recession, banks are continuing to rake in millions each year from such tricky fees-- fees they drain out of our communities without giving back in a meaningful way in the neighborhoods where they are located.

We have a long way to go before Chase and other corporations are really doing their part to bring back good jobs to our communities.

We’ll continue to demand Chase reinvests tax refunds into good jobs, but we should all take a moment to thank Governor Gregoire for doing the right thing.

Just fill out the letter here and click send. http://action.workingwa.org/page/speakout/thanksgov

Thank you and Congratulations! Gina Owens, Working Washington

Stand up to Chase lobbyists: Contact Governor Gregoire Now

While the March on Chase may be over, the work continues to push Chase to create good, meaningful jobs for people in Washington. You've heard how Chase is now expecting a 1.4 billion dollar federal tax windfall as a consequence of their purchase of WaMu, but did you know that Chase is also making money by charging TANF aid recipients a 85 cent ATM fee that does not appear on their receipt? That's money adds up quickly and adversely affects people who are already having a hard time making ends meet.

Gina Owens, an activist with Working Washington, wrote an email recently to supporters telling them that it's time to take action against Chase's unfair practices against TANF aid recipients, urging them to get involved and encourage the Governor to sign a bill into law that would force Chase to disclose these fees on ATM receipts.

My name is Gina Owens and I’ve been raising three kids on TANF since 2007.

Every time I use my state-issued Quest card to access my TANF benefits, Chase charges me an 85 cent fee, which doesn’t show up on the ATM receipt.

The Washington State Legislature recently passed new legislation that would end this dishonest practice and make sure that Chase discloses these fees at the time of transaction.

Instead of doing the right thing, Chase is using lobbyists to try to get Governor Gregoire to veto the new requirement so they can continue to charge these fees without clients like me knowing.

With thousands of people using their card 2 or 3 times a month, these hidden fees add up. This year Chase will make over $1 million from these fees, taking money out of the pockets of some of the poorest people in the State.

State programs are meant to help out people in need, not pad big banks bottom line.

Stand with me and demand Chase own up to its greedy practices.

Email Governor Gregoire now and tell her to stand strong against big bank bullies and ensure that Chase has to tell us everytime they want to charge us fees.

http://action.workingwa.org/page/speakout/noveto

You can also call her office at 360-902-4111.

Thank You,

Gina Owens, Working Washington

Standing Together for Better Jobs

Somali meeting event flyer English

Somali meeting event flyer_Somali

If workers have learned anything from the years of struggle to obtain justice for their communities, its that when one voice demanding justice doesn’t doesn’t do the job, bring more to the task.

Yasmin Aden, Abdulazziz Hirsi, and workers just like them are tired of hearing the stories of fat cat Wall Street bankers who make millions playing the stock market while families here are getting their hours cut, or losing their jobs altogether.

We must stand up and make our voices heard. Only by organizing together can we address the vital needs of our community and make real change in the form of good jobs and security for our families.

Somali neighbors across South King County are joining together and taking the first steps by coming to a meeting on Saturday the 11th at 5pm at the Somali Community Services Coalition.

Only by uniting our voices for change can we fight for a fair economy.

What: Standing Together for Better Jobs for Our Community

When: Saturday, June 11 at 5pm

Where: Somali Community Service Coalition

15027 Military Rd S. Upper Terrace, Suite 3

Seatac, WA 98188

Families and children welcome.

Three things you can do to rebuild King County’s middle class

Originally published in Real Change May 25, 2011, Vol: 18, No: 20. I’m a security officer in the Columbia Center in downtown Seattle. I’m proud to be part of the team that works everyday to keep the people who work and visit the Columbia Center, one of Seattle’s landmarks, safe and secure.

I’ve lived in King County for 28 years. It’s a beautiful, wonderful place. But I’m getting worried about whether there will be a place for my family and me in this community in the future.

My concern is that the King County of the future will be divided between a working class that’s falling behind and a rich elite who don’t see many common ties to the rest of us anymore.

This shouldn’t be happening here. There was a time when our community provided a model to the rest of the world for how to build a strong middle class.

We funded our schools and built a world-class university that ordinary families could afford to send their kids to. Washington companies led the way in technology and innovation and they shared their success with their workers. Middle-class families could count on good health care and a secure retirement.

That system is dying across America. Over just the past 10 years, the elite 1 percent in the U.S. saw their incomes go up 18 percent. Middle- and working-class families’ incomes declined.

That imbalance of income and wealth is making it all too easy for politicians to put the priorities of the rich ahead of everyone else.

Today, lawmakers in Olympia are choosing to reduce access to the University of Washington for Washington students — even high school seniors with 4.0 grade point averages — instead of closing tax loopholes for corporate special interests.

Access to affordable higher education has been an essential part of how families help their kids move ahead in our society. Just a few years ago, Washington paid for 72 percent of the cost of a state resident to attend one of our state universities. That support has been radically cut in the last few budgets. In the proposed current budget, Washington would pay just 28 percent of a state resident’s costs.

Washington is taking Basic Health coverage away from working families instead of taking away a tax giveaway for the owners of corporate jets.

Basic Health has been a lifeline to people who work at a small business that doesn’t provide coverage, are self-employed, or work for a company that doesn’t provide affordable coverage. Just two years ago, 106,000 Washingtonians got access to affordable care through Basic Health. Now just 41,200 do.

I hear and read media reports about the economy getting better, but it hasn’t trickled down to where I live yet.

In neighborhoods like mine, and through much of King County, foreclosures are plentiful and quality jobs are scarce.

It’s easy to feel overwhelmed and depressed about this problem. But we should all remember that better times for working people — times we fear are disappearing — didn’t happen by accident.

Working people across the Pacific Northwest joined together to stand up for something better. It wasn’t easy, but they did it. It won’t be easy for us either, but we can do it again.

Here’s what you can do, starting today:

1. Call your legislators about the budget. Already called them? Do it again. They need to hear from us over and over again that communities need good jobs, families need health care, and kids need schools more than rich people need tax breaks on corporate jets or cosmetic surgery.

Urge the people who speak for you in Olympia to fund education, health care and basic services.

2. Support workers when they stand up together. One of the reasons that the economy is imbalanced is that most workers don’t have a strong, united voice about issues that affect our lives. A generation ago, far more workers were united by a union.

Now corporate special interests want to silence the last powerful voices among the working class: public service workers such as firefighters, nurses and teachers.

Thousands of Washingtonians have spoken out and attended rallies to support public service workers in Wisconsin and Ohio whose freedom to speak with a united voice has come under attack.

A few years ago, workers in my own industry — private security services — formed a union. Today we no longer have anyone earning minimum wage in our shops. And we have negotiated for good wage increases.

3. Join together with fellow Washingtonians. I’m getting involved with a new organization called Working Washington. Our goal is to build a network of people in neighborhoods across King County to speak out for the kind of good jobs that make a strong community possible.

On April 14, more than a hundred Working Washington supporters protested outside of the Weyerhaeuser corporation’s shareholder meeting in Federal Way to shine a spotlight on the fact that this large, profitable Washington company didn’t pay any taxes in our state in 2010.

A few days later, people from Federal Way and other nearby communities gathered at a library to discuss the issues we’re dealing with in this long recession and our goal of turning Washington around.

We need more ideas. We need more voices. We need you. You can join us at workingwa.org.

David Miles lives in Greenwood and is a member of Service Employees International Union Local 6.

Auburn residents confront Chase bank

On Saturday, May 21st, a group of Auburn residents, led by Patti Larsen, a teacher in the Auburn school district, went to Auburn’s Chase bank branch to talk to Chase about  an issue that is affecting those in Auburn and all across the state. The lack of tax revenue has affected everything from schools, to job creation, to healthcare for the needy and other public services.

Those needs can be addressed by increasing the tax revenue the state brings in. The $81 million in state tax revenues lost last year to a loophole exploited by Chase and other big banks as well as the $1.4 billion federal tax refund Chase is seeking now only results in harm to our fellow community members who need taxpayer-funded services the most.

Chase’s pattern of voraciously pursuing state and tax loopholes and refunds in the midst of tremendous community suffering brought on by pinched state and federal budgets is what Patti and our crew went to Chase to address.

In addition to passing out information on the concerns of their community organization, Working Washington, this delegation delivered a letter to the local branch manager at Chase and asked him to pass it along to his boss in Seattle.

In this letter, this delegation from our community asked Chase to give back its share of the $81 million Chase and other banks pocketed last year through a Washington State tax loophole,  so that those precious taxpayer resources instead can be invested in the communities here in Washington who so desperately need it.

The letter presented to the bank manager appears below:

We are a group of concerned Auburn residents writing to request that Chase bank pay back its share of a Washington state tax loophole which depleted Washington’s state tax revenues last year by $81 million in order to stop the cuts to quality education for our kids.

In Auburn alone, $5.3 million was cut last year from our school district. The cuts have increased class sizes, jeopardized music, science and math programs, and will make it more difficult for Auburn children to get the quality education they deserve. The school district is facing another $5.6 million in cuts this year.

On top of that, higher education is suffering. Tuition is rising at our local Highline Community College. Students continue to face steep debt in order to get a college opportunity.

Our kids deserve a good education, and a chance to build a better future. Yet, during these difficult economic times, Chase has exploited a tax loophole depriving this community of tax revenues it desperately needs only to pay, its CEO $20 million, and rake in $29 billion in profits since the bailout.

Chase claims to give back to the community, but our community is still suffering while Chase is prospering. We demand that Chase do the right thing and pay its fair share.

Please ensure this letter is forwarded to JP Morgan Chase Chairman Phyllis Campbell so she can schedule a time to meet with us to discuss how Chase plans to return this loophole money to the community.

Sincerely,

Auburn community members

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Standing Up and Speaking Out at Chase

Nothing is going to change in this economy until people like us start to speak out. That’s why a group of Auburn residents took some time out of our busy Saturdays to deliver a letter to the manager of a local Chase branch.

The letter called on Chase to meet with people like us and explain what it intends to do with the $1.4 billion tax refund Chase is due.

Why isn’t that money going back into communities like Auburn to create jobs?

Why is Chase paying so little in tax when our public services like schools, higher education, and healthcare are facing massive cutbacks?

“I thought it went very well,” said Patti Larsen, the leader of our Working Washington delegation.

“I feel very good about the contact we made with Chase,” added Vernon Hill, who had a chance to talk to several customers about the special tax loopholes Chase gets.

Chase needs to continue to hear from us so it understands that we’re angry about the damage that big banks have done to our communities. They need to do their part to create jobs and rebuild our economy.

Make sure you sign up for text alerts to find out about the next step in our campaign to hold Chase accountable.

Why Chase? Why Now? (Part 1)

Why should Washingtonians pay attention to what Chase Bank is doing to our state’s economy? Because of the Great Recession.

The financial crisis of 2008 was like a tsunami.  Officially, it’s over.

But ordinary people in Washington are still picking up the pieces. People are still facing foreclosure and bankrupty because bankers’ greed flattened our economy.

How do we fix the damage? Where do we start?

First, we need to make sure that massive Wall Street banks like Chase that were a central part of wrecking our economy are held accountable.

These banks got a gigantic favor from taxpayers like us when our tax dollars bailed them out.

Big banks like Chase have a huge advantage over smaller banks because they were considered  “too big to fail”. That mean that Wall Street executives at major banks like Chase take it for granted that the federal government will bail them out if they got into trouble.

Banks like Chase made reckless and greedy decisions to boost their profits.  When they got into trouble, our tax dollars saved them.

Now  they have recovered nicely, generating over 29 billon in profit since 2008.

In fact, as Chase’s profits went up from 2009-2010 by 166% .

But the the amount they paid in taxes actually went down by 13%.

Our tax dollars bailed them out. But now that our schools, roads, healthcare programs, and other vital public services are facing cuts, Chase isn’t giving back or even paying their fair share.

Instead, Chase is taking care of Chase. Jamie Dimon, Chase’s CEO is making $10,000 per hour and he was given an additional $28 billion in bonuses and compensation.

We did our part to help Chase and other banks during the crisis. Why aren’t they doing their part to help us now?

That’s why Chase matters.