PETITION: Hold Jamie Dimon, JPMorgan Chase, & Wall Street Responsible
Foreclosures are spiking. Mortgages are underwater. Families are still recovering from the recession. And the guys responsible for it are making record profits. Settlement after settlement, Jamie Dimon and his Wall Street cronies have sweet-talked prosecutors into no-criminal prosecution settlements for reckless market manipulation. And millions of Americans are left sitting out in the cold while the bad guys get away with it, while the media looks the other way.
We at AFV do not believe that “everyone is equally to blame” for wrecking our economy. It defies common sense and basic morality to say that Jamie Dimon and a low wage worker who got talked into a complicated mortgage during the height of the bubble and ended up being foreclosed on as a result are equally to blame for our economic woes. Our economy has gotten fundamentally off the track it used to be on through our country’s strongest economic times, when the middle class was growing and prosperous, when young and poor people were able to get good jobs and climb into that middle class, when incomes for most workers were rising and they had spending money to fuel a steadily rising tide, and when good laws and regulators kept a few super-wealthy companies and investors from gaming the financial system so that they got most of the benefit from economic growth. These banks' size threatens the entire economy, and their power threatens our democracy. They need to be broken up.
We, the undersigned, can no longer stand by and watch Wall Street get away with wrecking our economy while millions of working Americans pay the price. We believe that the reckless trading and mortgage practices of the Big Banks drove our economy into a spiral, and believe that the banks and trading companies responsible should be broken up so that the speculative bankers and more traditional banking functions are separated. We thank Senators Elizabeth Warren, Jeff Merkley, and Sherrod Brown for their hard work to break up the banks and hold Wall Street accountable, and encourage other lawmakers to follow their example.