LA Times 8.18 State will get 1.5 billion loan from JPM Chase

This move on the part of JPM Chase, is evidence of serious corporate citizenship, I applaud this effort! It is a recognition on the firm's part, of the bright future which this state still retains, in lieu of its suffering with the rest of the nation, during a major economic recession.

There is further recognition by JPM that California citizens will not soon forget the timing of this much needed boost, both to the state and its citizens. As I have stated before, a type of "lend lease" can help bring this great state back economically with a roar. Before we entered WW II, if your neighbor (or allies) needed a hose and his (their) house was on fire, you lent him (them) that hose, without charge, then put out the fire and eventually got on together with the major tasks at hand. This type of investment produces long term dividends for JPM Chase and California.

Hopefully, JPMC and other firms will do even more in the near term. Finally, banks, bring on those water hoses, you will never regret your vote of confidence in the state of California. Obviously, there is room for other lenders as well who value having a part in helping to build a new and prosperous California economy!


Dr. Phillips