Tag: Greedwashing

Chase’s PR Stunt, the “American Giving Awards” is Back Again

NBC’s upcoming feel-good holiday TV program, the “American Giving Awards” to be broadcast on December 8, is nothing more than a highly-orchestrated public relations stunt designed to rain good feelings upon JP Morgan Chase, one of the most reviled U.S. financial institutions and a major contributor to the collapse of the U.S. housing market. Chase was behind the creation of many of the problematic financial products like credit default swaps which almost brought down the global financial system in 2008. Chase has been fined hundreds of million dollars for lying to investors, perpetrating mortgage fraud and engaging in other illegal financial schemes. To further thumb it’s nose at consumers, Chase recently hired an executive to head up the company’s Foreclosure Victims Bureau who the Justice Department concluded helped enable mortgage fraud. To help repair its tarnished image, Chase created the “American Giving Awards,” using a PR company called  Intersport, which boasts that it is an “innovator and leader in the creation of sports and entertainment-based marketing platforms” designed to benefit “global brands.” Actor Gary Sinise and singer Colby Caillat are two of the stars recruited to help draw attention to this televised PR stunt in which JP Morgan Chase gives away millions of dollars to charity.