Chase Bank told create jobs with tax windfall

SEATTLE — Students, workers, and residents from surrounding neighborhoods joined together at a Chase Bank in South Seattle on Saturday to call on Chase Bank to do more to create jobs to revive the area’s economy. The bank is on the verge of pulling in $1.4 billion from a tax refund that bankrupt Washington Mutual claimed. Chase acquired a major stake in WaMu after it collapsed.

“We came to Chase today to call on it to do more to generate more jobs,” said Aletha Johnson, a homecare worker and member of Working Washington. “The banks got a huge bailout from us when they were in trouble. Their profits are back. But there aren’t enough jobs.  If Chase gets another $1.4 billion, it’s time to put that money towards the new jobs that are crucial to fixing this economy.”

After marching past a home that Chase has foreclosed upon as well as a school and a clinic that have had their funding slashed, residents delivered a letter to Chase to call for the bank to use the $1.4 billion tax refund to:

• Commit to a community jobs fund
• Provide foreclosure relief
• Reduce fees it charges for delivering public assistance funds to Washingtonians
• Support healthcare, education, and other critical public services in Washington

Chase can afford to do more to grow jobs. In 2009-2010, it made a $29 billion profit. Chase increased its CEO Jamie Dimon’s compensation in 2010 by $19 million.

Saturday’s march was organized by Working Washington, a community-based group organizing to secure good jobs in Washington and to hold corporations who broke our economy accountable. Learn more at WorkingWA.org.