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Los Angeles to consider cutting ties to JP Morgan!!!!!!!!!!!
LOS ANGELES (AP) — A Los Angeles councilman proposed Wednesday that the nation's second-largest city consider ending tens of millions of dollars of financial ties with troubled JP Morgan Chase & Co.
A motion introduced by Democrat Gil Cedillo seeks a review of city business with the nation's largest bank, as well as an analysis of legal options to end those contracts.
It said a city retirement system holds over $100 million in JP Morgan stock and investments, and the city has a line of credit with the bank. The motion also suggests disqualifying the bank from doing further business with City Hall.
"We need to review the impacts that the repeated investigations, lawsuits and settlements involving JP Morgan have on our investments and holdings," the motion concluded.
A motion introduced by Democrat Gil Cedillo seeks a review of city business with the nation's largest bank, as well as an analysis of legal options to end those contracts.
It said a city retirement system holds over $100 million in JP Morgan stock and investments, and the city has a line of credit with the bank. The motion also suggests disqualifying the bank from doing further business with City Hall.
"We need to review the impacts that the repeated investigations, lawsuits and settlements involving JP Morgan have on our investments and holdings," the motion concluded.
http://www.utsandiego.com/news/2014/Jan/15/la-urged-to-consider-ending-ties-with-jp-morgan/
Hot damn....is that a gleam of daylight I see in the Reality window?????
