Why are state and local governments despositing funds with JP Morgan Chase and other banks that refuse to accept California IOUs?
Why are the state pension funds investing in stock of JP Morgan Chase and the other banks that refuse to accept California IOUs?
And why are these California governmental organizations and pension plans investing in the stocks and bonds and mortgage back securities of JP Morgan Chase and the other banks responsible for the subprime mortgage crisis, the derivatives crisis, the bailouts, trillions missing from US government accounts for which they serve as depository, Enron and more?
Why should you use your tax funds and retirement funds to provide capital to these banks when your own state government and businesses and farms need capital?
Do you bank at JP Morgan Chase?
Why?