JP Morgan Chase donated $4.6 million dollars to the NYPD this year before mass arrests of protesters from the “Occupy Wall Street” movement began.
The donation has prompted commentator Dr. Boyce Watkins to question the ethics of both the NYPD and JP Morgan Chase.
Your Black World reports:
So, it looks like the NYPD is under the same pressure as Washington politicians, who’ve sat silent as the people have risen up to deal with the companies that they have come to fear. As a Finance Professor myself, I’ve seen up close how financial incentives can keep many of us from doing the right thing when necessary. In the case of Wall Street, you have a situation in which the individuals who caused the economic downturn were also the first to be bailed out. As a result of being bailed out first, Wall Street was the first place to experience an economic recovery.
But while we have billionaires getting even richer in New York, joblessness has continued to sicken the economy. Over 40% of all black children are in poverty, and millions of Americans are losing their homes. Labor unions are being undermined left and right, and the Right Wing is pushing for further cuts to programs that help poor and middle class Americans, as well as senior citizens. But even while the Republicans push for unhealthy slices to the federal budget, they are incredibly protective of tax cuts for America’s millionaires.