This is another reason America is in trouble. JPMorgan which received 25 billion from the US government is outsourcing more jobs to India. This will lead to more unemployment, less tax revenues and more DEMOCRAT Voters.
JPMorgan Chase to Increase India Outsourcing 25%
The second-biggest bank of the US, JP Morgan Chase, which acquired Washington Mutual and Bear Stearns recently, will increase its outsourcing to India by 25% this year to nearly $400 million. It will also manage the integration of the acquired companies from India to bring down the cost of integrating different information technology (IT) systems.
Right now, JP Morgan outsources $250-300 million worth of IT and back-office projects every year to Cognizant, TCS and Accenture, apart from to its own captive centre in Mumbai.
Where is Obama’s promise to stop companies from shipping jobs overseas? Oops I forgot, JPMorgan CEO Jamie Dimon is an Obama supporter! That’s right, if you support Obama you can still do this. In a way Democrats like this, as it leads to more people who depend on the government, and hence more votes for them. It is a great scheme.
Economic Conservatives will defend this since it is a “Free Market” decision. They put Corporate interest above National interest. What they don’t realize is that this leads to more government dependency. This needs to stop for the sake of our economic well being. I am a National Security Conservative and realize the dangers of this. I also don’t want Marxism, but actions like these creates more Marxists. I wish my Economic Conservative allies would wake up and realize this.
Tags: Free Markets, Globalization, India, JPMorgan Chase, Marxism, Outsourcing
