The Spark

“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx

Beware of Thieves Bearing Gifts

May 26, 2014

JPMorgan Chase claims it will “give” 100 million dollars to Detroit to help in its revitalization.

This is the same JP Morgan Chase directly implicated in the mortgage rip-offs that decimated large areas of some big cities. Detroit, in fact, lost one quarter of its population in the ten years after the mortgage scam started, as people were driven from their homes by predatory loans.

If Chase now wants to invest in Detroit’s “revitalization,” we can be sure that it has figured out how to make some more money out of Detroit’s misery.