Morgan Stanley Chase is just the latest iteration of the banking power of some of the largest and most ill gotten fortunes in the United States. The ruthless business practices and political games of JP Morgan and the Rockefellers are a black stain in the history of the United States, which Chase Bank continues by being the largest funder of climate destroying fossil fuel infrastructure in the world.
US history is riddled with examples of how Morgan, the Rockefellers, and all of the other corporations and financial institutions that have been brought together into what is now the largest and richest bank in bank in the US have poisoned communities, destroyed local economies, overthrown governments, and made the USA into a country that instead of one governed of the people, by the people and for the people is a country governed by the rich and for the rich. And when the banks screw up, instead of the people getting bailed out, it has always been the banks.
The result is that the richest country in the world has the most poverty of any wealthy country, ridiculously weak environmental standards and enforcement, and a political system in which the rich buy elections and millions go without health care or decent schools. Redlining by Chase and its predecessors means that millions of Black and Brown people live in substandard housing, and its lobbyists continue to fight against affordable housing.
At a time when every thoughtful human being realizes that it is clearly insane to keep building pipelines, fracking shale deposits, mining coal, or building new fossil fuel powerplants and export facilities. At a time when hurricanes are sweeping into neighborhoods with an out of control pandemic ravaging them, Chase bank is expanding into new markets so that it can have more and more deposits to funnel into fossil fuel projects and the bribes to politicians necessary to get them approved.
It makes no sense for Rhode Island to welcome these corporate criminals with a rap sheet longer than any street criminal, and we should all be working to make sure that Chase does not gain a foothold here. They should not be allowed to open any new branches, and all of the branches opened in the last two years should be closed.
If Rhode Island wants to see a real prosperity, one in which our communities and our people are healthy, in which justice reigns, and democracy thrives, Chase Bank has no place in Rhode Island and should be kicked out.