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The More Americans That Go On Food Stamps The More Money JP Morgan Makes

JP Morgan is the largest processor of food stamp benefits in the United States.  JP Morgan has contracted to provide food stamp debit cards in 26 U.S. states and the District of Columbia.  JP Morgan is paid for each case that it handles, so that means that the more Americans that go on food stamps, the more profits JP Morgan makes.  Yes, you read that correctly.  When the number of Americans on food stamps goes up, JP Morgan makes more money.  In the video posted below, JP Morgan executive Christopher Paton admits that this is “a very important business to JP Morgan” and that it is doing very well.  Considering the fact that the number of Americans on food stamps has exploded from 26 million in 2007 to 43 million today, one can only imagine how much JP Morgan’s profits in this area have soared.  But doesn’t this give JP Morgan an incentive to keep the number of Americans enrolled in the food stamp program as high as possible?

There are just some things that are a little too “creepy” to be “outsourced” to private corporations.  The JP Morgan executive in the interview below does his best to put a positive spin on all this, but it just seems really unsavory for a big Wall Street bank to be making so much money off of the suffering of tens of millions of Americans….

So if unemployment goes down will this ruin JP Morgan’s food stamp business?

Well, apparently not.  In the interview Paton says that 40% of food stamp recipients are currently working, and he seems convinced that there could be further “growth” in that segment.

So is this what America is turning into?

A place where tens of millions of the unemployed and the working poor crawl over to Wal-Mart and the dollar store every month to use the food stamp debit cards provided to them by JP Morgan?

It turns out that JP Morgan also provides child support debit cards in 15 U.S. states and they also provide unemployment insurance benefit debit cards in seven states.

Apparently states have found that they can save millions of dollars by “outsourcing” the provision of these benefits to big financial firms like JP Morgan.

So what happens if you have a problem with your food stamp debit card?

Well, you call up a JP Morgan service center.  When you do this, there is a very good chance that you are going to be helped by a JP Morgan call center employee in India.

That’s right – it turns out that JP Morgan is saving money by “outsourcing” food stamp customer service calls to India.

When ABC News asked JP Morgan about this, the company would not tell ABC News which states have customer service calls sent to India and which states have them handled inside the United States….

JP Morgan is the only one today still operating public-assistance call centers overseas. The company refused to say which states had calls routed to India and which ones had calls stay domestically. That decision, the company said, was often left up to the individual states.

JP Morgan has been moving some of these call center jobs back inside the United States due to political pressure, but this whole situation is a really good example of what the “global economy” is doing to middle class Americans.

Just try to imagine the irony – a formerly middle class American that has lost a job to outsourcing calls up to get help with food stamp benefits only to be answered by a call center employee in India.

Welcome to the global economy, eh?

But wait, there is more.

It has just been announced that JP Morgan has admitted that they wrongly foreclosed on over a dozen military families and that they have been overcharging “thousands” of other military families on their mortgages.

Ouch.

It is a really bad public relations move to mess with military families.

Is anyone over at JP Morgan even paying attention?

JP Morgan has also been one of the primary financial institutions involved in the foreclosure “robo-signing” scandal.

They just seem to be having all kinds of problems lately.  But they are not alone.

The truth is that we have gotten to the point where big Wall Street banks such as JP Morgan, Goldman Sachs, Citibank and Morgan Stanley just have way, way too much power.

The biggest Wall Street financial institutions had no trouble begging for bailouts from the U.S. government during the financial crisis, but when the American people have needed a little grace and mercy from them they have been less than helpful.

So what do you think about how the big Wall Street banks have been behaving?  Feel free to post a comment with your opinion below….

  • The Beast

    Profit without conscience is like shape without form.

  • The Beast

    “About 4.5 million of the 8 million new guns manufactured worldwide each year are purchased in the United States.”
    Scary…

  • Laura

    What do I think? I’m stunned that we have allowed this country to be taken over and run by multi-national corporations. It is as if we have created a frankenstein and I’m not sure we can put the genie back in the bottle. They own us; they control us; and they’re not even human. Scary.

    Thanks for your wonderful blog by the way. It is so well researched and thought out.

  • Matt

    I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.

    Thomas Jefferson

  • http://gardenserf.wordpress.com/ GardenSERF

    I didn’t know JPM processed food stamps. I remember 20 years ago when state employees did all this and it was handled at the county level. It must all be contractors now in the state offices. Certainly gives new meaning to serfdom.

  • Gary2

    I do not know how many more time I need to keep saying that we need to tax the rich and spread the wealth. This article again proves my point. Hedge fund managers only paying 15% while the rest of us are paying more on our wages. (contrary to popular belief I do work)

    I would most definitely say that Wall Street is part of the rich. I like the financial trading transaction tax where we really would be taxing the greedy to help the needy.

    I honestly do not know how anyone can disagree with taxing these banksters and spreading the wealth they stole from 99% of us.

  • PatriotRider

    I can’t even come up with words to describe my feelings after reading this article…

  • Xander cross

    Damn!!!

  • bloodworm

    Now that you mention this issue with food stamps – I recall an interview with the CEO of Cantor Fitzgerald on Fox Business news a few weeks ago.

    In it, he says that QE2 has been just wonderful for his business. It took a moment for me to relaize what I just heard. The fed prints money and uses that money to buy govt bonds. This creates transactions for firms like CF.

    Just another way that the fed bails out wall street while it devalues the dollar and destroys the savings of the average person.

  • Kathy

    I am so disgusted at what America has become. A land of greedy bigshots running amok. They must be really proud of themselves, making money off the poor!

  • Patriot One

    This is the only reason this depression doesn’t look like the Great Depression. All the hungry and unemployed are hidden in plain sight.

    Yes they are right next to you in line at the grocery store, Walmart, Sam’s, Costco. Almost all government poverty programs have the benefit delivered electronically.

    No lines at the State offices, no lines anywhere. They are now in line right next to you. From what I’ve seen most are better fed then I am.

    You will also notice none of the benefits go to small business and small banks. More bailouts for big business and big banks.

  • flubadub

    It’s easy to get angry seeing a megabank profiting from a program that requires poverty to exist. As bad as that situation seems, the food stamp program would probably cost us billions more if it was administered entirely by thousands of additional unaccountable government bureaucrats.

  • Jasper

    I must admit you really do your homework providing us up to the minute information.
    What I would like to see, in the future, is something besided despair. Perhaps you can blog a 50/50 ratio showing what steps are being done, or needed to improve the current economic crisis. Just like webbot, if we continue to focus on collapse, it will eventually happen.

  • http://www.grandmasdepressionmemories.com/ Leigh Kimmel

    The banks have come to believe that they are above the law. Unless we want to be looking at a Standard Cyberpunk Future in which the megacorps have reduced the government to an irrelevant puppet, mere window-dressing, we the people need to demand accountability in accountancy and bring these banks to their knees. Real punishments for actual decision-making executives, not just some low-level people picked as scapegoats to take the fall. Maybe even put some of these companies into receivership and dissolution a la I G Farben.

  • Kevin

    Neither the problem nor the solution lay in JP Morgan verses the State governments processing food stamp payment. The problem is that the payments are necessary in the first place.

    Policies that transended party and administration over forty years put us where we are today; “We’re Living Here In Allentown And Their Closing All The Factories Down”.

  • Mariposa de Oro

    “So what do you think about how the big Wall Street banks have been behaving? ” ~ Digusted.

  • kd

    It’s only going to get worse now that Daley, former JP Morgan exec is Obama’s Chief of Staff. Obama is truly a Wall Street puppet.

  • Lennie Pike

    The More Americans That Go On Food Stamps, The More Money J. P. Morgan Makes. / President Hu Of China Visits The White House.

    (Complete with a welcome ceremony which included a hand picked crowd all waving both Chinese and American flags, and a fife and drum corp in their “red”? “American” Revolutionary War uniforms – maybe English Redcoats?, playing our National Anthem which includes the words “land of the free” – to deceive, test for a reaction to collect vital information, and at the same time rub a few of our noses in it.)

    CONNECT THE DOTS!!! Is there a relationship between these two statements? Who does Obama work for? Who staffs his White House? Who does he take orders from? Where are a lot of the profits of the American Elite made? Who controls the money? Hu’s currency is being intentionally destroyed? Answer is found by looking at debt levels – not devaluation for trade advantages. Do the Elite need and want to control the ones not willing to join their gang? Do Republicans and Democrats serve the Elite or do they serve the American Individual?

    There are 2 types of people in this world – those Hu are willing to join forces to enslave those of us who are not willing – and then there’s us individuals.

    The ones who are willing to enslave, abuse, or kill if necessary, have a code of conduct and their first rule is to always support the other members regardless of their actions. The only action that is unacceptable to them, and which will result in expulsion from the gang is supporting in any way any non-gang agenda or person known as having a non-gang agenda.

    That is the main reason these people always seem so polite, friendly, and nice – it is a required behavior to demonstrate that all are in cooperation with one another – just like the behavior in a pack of wolves where all except the top dog will go belly-up when needed. And they do have a top dog just as the rest of us have a top lamb. As far as the rest of us are concerned that behavior serves as necessary deception – (great for vote getting until voting becomes irrelevant and to keep the sheep clueless while the take-over progresses).

    Their members and this behavior can be found at all levels of economic status – not only the very wealthy. It can divide families – some are individuals and some are members of this group.

    As we know – their actions toward us individuals (sheep) are a lot different than the treatment provided to members within their group. For the first time in history they have the technology and a conditioned population of a large enough size to enable a complete world-wide takeover and enslavement.

    I would strongly recommend all who did not see the video of the ceremony to find and watch the video on the internet. To me it seemed like their announcement that America’s experiment in Democracy and Freedom is officially over. Have a bucket or towel nearby while you watch.

    Where’s the Love Gangsters? Hope someday ya’ll find it before it’s too late for you, and that day will come – you can Believe that.

  • http://www.alainconny.blogspot.com Alain

    I think the financial corporatism who is leading the U.S. with the blessing of President Obama, will destroy the American people. This kind of corporatism is called financial fascism, the only remedy for ending with these banksters, is to empty his account, and buy physical gold.

  • sharonsj

    Just more proof that all our elected representatives are selling us off to the highest bidder.

  • Bill White

    Well I’ll be the first to tell you that Chase bank wrecked my near perfect credit score, played creative accounting on my bank accounts to trigger as much as $800 in overdraft fees in a week, called me relentlessly on my mortgage even when it wasn’t past the grace period insisting I pay over the phone right then, and otherwise behaved on many occasions than a Mafia family.

    It all started back in the WAMU days, when a bank manager 1300 miles from my home gave a man 10 years my senior, of a different race and with improper identification the entire balance of my primary checking account. I fortunately caught the transaction less then 30 minutes after it happened and reported it immediately to the bank, called the branch directly to find out what happened and filed police reports in both my city and El Cerrito, CA where the transaction occurred. Next morning I called the Fraud Department and made a report, went to the local branch, closed and reopened new accounts, reported to all 3 credit bureaus and did everything to the letter you should do.

    A week later I got a letter from their fraud department calling me a liar in writing, stating I authorized the transaction and they weren’t giving my entire months pay they doled out to a stranger back. I insisted the case be reopened, and in talking to the Detective in CA handling the case, became aware they were close to catching the guy and managed to get the video made at the bank. Another 2 weeks went by before they returned my money. That’s 3 weeks total, and that only after I spent about 60 hours on the phone with them.

    This threw every bill I had into late fees and made all of my credit card interest rates quadruple. I didn’t even get an apology from WAMU/Chase.

    Then since one of my quadrupled interest rate credit cards was a WAMU card, I went to the branch and paid it off, what I thought to be the finalization of the account. Only a few weeks later I get a bill for over $100, I call, they said I paid it off after the transaction period. I ask what the balance is today so I can pay it off and close the account and the lady on the phone says they can’t give me an exact figure.

    More calls to the JP Morgan Chase Executive office and finally they close the account.

    Then I try closing all of my bank accounts with them, and every time I do they just move transactions around between 12 midnight and 2 am till they manage as many overdrafts as possible. No FIFO in CHASE let me tell ya!

    All said, WAMU/CHASE ruined my credit score, stunted the growth of my business and wrecked me financially for years…and not so much as a formal apology.

  • Jane

    JP Morgan bought out WA Mutual, as many people already know. Effective Feb 1, of this year, they will be charging $10 for checking accounts that do not meet their requirements on maintaining a certain balance, deposits ect. It will make it even harder for people on food stamps. Right now $10 will still buy a loaf of bread. But that is for right now. HE IS COMING SOON! GLORY TO GOD IN THE HIGHEST.

  • http://GreatRedDragon.com Edward Ulysses Cate

    Right you are. But there’s also a reason you won’t see these fact in your daily newspaper. The immense Gannett Corporation is the largest owner of daily newspapers and TV stations in the United States. It’s largest major shareholder is JPMorganChase. Now that’s control!

    http://finance.yahoo.co/q/mh?s=GCI+Major+Holders

  • http://GreatRedDragon.com Edward Ulysses Cate

    One more thing related to this topic. Substitute JPMorganChase for “industrial” here:

    “The real collapse of our currency began when it became evident that certain industrial circles were more powerful than the government.”
    Quoted from Germania newspaper, July 27, 1922, in Adam Fergusson’s book “When Money Dies.” Page 148.

  • Belle

    Great job you’re doing here. Most of what I think about this can’t be printed. In the spirit of the new civility, while it lasts, I’ll make a constructive comment.

    Corporations who outsource labor should be required to outsource a proportional amount of management. India has many trained corporate officers who could do the same jobs for a fraction of the cost. JPM’s employees are going to receive almost half a million dollars each this year in bonuses.

    Managerial compensation should be set at a multiple of average employee compensation. The more jobs outsourced to reduce wages, the lower managerial pay should be.

    As corporations become more non-American, they should have their ability to buy influence reduced. While the Supreme Court has ruled that corporations can spend as much as they want, they overlook the fact that corporate citizens do not live in and have loyalty to the welfare of the people of the United States. Those buying our government should be required to make a compelling case to prove the legislation they buy is in our nation’s greater interest. At some point, corporate citizen should be revoked with the entity no longer having the rights of our courts system, such as it is, or the services of our government, such as it is. And forget any idea that Americans should fight to protect your assets overseas. As far as I’m concerned, we should start dealing off those Chinese factories in exchange for our debt.

  • http://www.scribd.com/doc/38562494/Spirit-of-76 Terry Bain

    John Adams

    “…It seems very manifest…that a design is formed to….introduce the inequalities and dependencies of the feudal system, by taking from the poorer sort of people all their little sustenance, and conferring it on stamp officers, distributors, and their deputies.”

  • Vegas

    some of these comments make me ill. take the time to educate yourself to the fact that the U.S. is a CORPORATION not a COUNTRY! just Google it. or keep ranting about stupid sh*t. this article is understood at a very deep level IF you know the “business” of America…..

  • mondobeyondo

    The United States of America at this point in time, is little more than a giant for-profit corporation, with big business, big banks and Wall Street making off with the goods, while screwing everyone who isn’t in their little clique.

    This is an enlightening article. I had no clue that JP Morgan (Chase) was making money off of FOOD STAMPS! They have really stooped to the lowest of the low.

    Put the puzzle pieces together! JP Morgan WANTS you to stay on food stamps. They make money that way. They want your friends and neighbors to go on food stamps, because that’s even more money for JP Morgan. They LOVE it when you run up your credit card Because they can then jack up the interest rate to 29% or some insane number, and really put you behind the 8 ball! The more debt you have, the bigger the smiles on the CEOs’ faces.

    DEBT EQUALS MONEY!!!!

    Not for you, of course. For you, debt is a snare that is designed to keep you enslaved forever. For Wall Street and the wealthy elite, it’s a bonanza.

    When big banks see the American people, they do not see people who are hurting, desperate and begging for mercy. They see dollar signs. They don’t care about you.

    Get out of debt fast, the sooner the better! Pay off your credit cards and loans, if you can. Then you won’t have to care about the big banks anymore, either. Join a local credit union. Join a local bank (but be careful, they may get bought up by JP Morgan or some other big shot on the Street.)

    Give JP Morgan (and their friends at BofA, Citibank, Wells Fargo, etc.) one big fat middle finger!!

  • mondobeyondo

    Mega-Business/Bank/Corporation Rule #1.

    They don’t care about Joe Six Pack or Brenda the Baker.

    They want money, every which way but loose. They’ll charge you for opening an account, closing an account, walking inside to talk to a teller instead of using the ATM, and so on, and so forth, yada yada yada.

    Banks aren’t the only ones though. Have you flown lately? Airlines charge for literally everything. Surprised they haven’t charged you for stepping foot on the airplane (but maybe that’s in the ticket surcharge!)

    You will be taxed to death, and when you die, they’ll tax you for that, too.

    Sing along, everyone…”Money equals debt, and debt equals money”

    Welcome to USA, Incorporated. The biggest for-profit business on the planet, masquerading as a “democratic country”.

    Big business – run for profit.
    Banks – run for profit.
    Food production – run for profit.
    Military – run for profit.
    Government – taken over by corporations; run for profit.
    Freaking social assistance programs – run for profit!

    Mom and Pop? They’re being driven into extinction. Pray for them. The family farm has been replaced by Monsanto driven corporations. The family store, replaced by Wal-Mart.

    It does not look good for America.

  • El Pollo de Oro

    “The merger of state and corporate power is called fascism, and fascism has come to America.”—Gerald Celente

    Indeed it has.

    I hear the word “socialism” being tossed around a lot these days, but as Signore Celente points out, this nightmare isn’t “socialism” any more than it is “free enterprise” or “rugged individualism.” This is fascism as defined by none other than Benito Mussolini himself. Il Duce once said: “Il fascismo dovrebbe più appropriatamente chiamarsi corporativismo perch’è una fusione tra stato e potere corporativo.” That’s italiano for “Fascism should more properly be called corporatism because it is the merger of state and corporate power,” and Mussolini’s definizione del fascismo certainly describes this decaying Third World horror movie called The Banana Republic of America (BRA).

    Benvenuti al fascismo. Benvenuti alla Repubblica Banana di America.

  • DownWithLibs

    Who should we vote for President in 2012? JP Morgan or Citibank? You know it will be at least one of them. I can’t help but think that the game is up. No matter which way we turn it will be the wrong direction. I guess just focus on the four “G”s and try not to worry too much about the future we don’t appear to have.

  • lostinmissouri

    JPMorgue is also the biggest silver manipulator, blessed by the CFTC and SEC that they own.
    The Fed banksters have taken over our government.

    JPMorgue,GolenSucs,BankAmerika,StainlyMorgan, are all Fed banks and have bought and paid for every Representative in DC!

    America is doomed. As Americans, we don’t know what to do, other than buy guns and Americans have been doing that in mass.

    Pull your money out of the banks…buy silver/gold. Take it out of the FRN system!
    Who is John Galt?

  • John Galt

    Folks, if you are in debt of any kind get out. Next hard close any credit cards with the big Elite banks. If you must have a card, get one with a local bank or credit union that is not ‘hooked up’ with JP Morgan or the other gangsters. Next, purchase silver or if you can afford it, gold. That is the only real money. Silver is around $30 a troy ounce, so for example, purchase one American Silver Eagle a week instead of Starbucks or cancer sticks. You will thank God you did this when they collapse the money system. By the way, get out of the stock market if you have not yet done so. NOT ONE S&P 500 Insider has purchase a single share of stock in the last month, all have sold. EYES WIDE SHUT wake up people.

  • James

    It is rather unseemly to read everyone falling all over themselves for this blog.

    Reading these articles is like looking at high-resolution digital images of great renaissance paintings…in black-and-white.

    It’s like reading a description of driving a masterfully engineered Ferrari automobile, but all in the language a physical forces, pure physics and so on. No wind in your hair, no heart-pounding hairpin turns, no passing a horse-cart on a mountain pass, no truly human dimension.

    You might say it is like a wolf cub playing with a mouse. But a wolf cub doesn’t have a frothing, mentally disturbed hatred of the mouse. It is just learning. I remember that nature footage of the killer whale flinging the penguin all around, and then later pushing it, dazed but alive, back to shore to live once again.

    Not so here in the USA.

    But make no mistake about it, all of these byzantine financial tools that have been used to steal the wealth of the country come from the frothing and hateful minds of people that are truly alien to the great minds that founded the USA. I think if one contemplates a Thomas Jefferson or a George Washington, you would have to agree.

    But the problem with the administration of this blog is that comments are censored that unveil anything of the brutal ethnic warfare that is one of the driving forces behind the take down of the USA.

    I think that the EC Blog paints a rather one-dimensional picture of the situation. On the one hand, I can appreciate the technical aspect of the reporting. But unless people are able to get a picture that includes the human dimension, even if it is only the “human dimension” of economics, then this blog will fall far short of the mark.

    Why wasn’t Bernard Madoff turned in sooner? Ethnic favoritism pure and simple. The list goes on and on and on…

  • Belle

    I suppose that I might not be deep enough to not make Vegas ill, but a nation, or country, is defined as:

    a stable, historically developed community of people with a territory, economic life, distinctive culture, and language in common.

    No secret incorporation negates that.

  • racer x

    i would rather starve to death than take food stamps or any other gov’t handout, (but that’s just me)

  • Louise in MO

    This report goes a long way in explaining how the Progressive road we are on will destroy the American middle class. Just the thought of 43 million Americans on food stamps is enough to make one cry, the fact that JP Morgan Chase makes money off of them is ludicrous!

    Outsourcing jobs to India is not new, banks and big corporations have been doing so for years. Try calling a “help” line to any major computer company and bingo…you are connected to India.

    Before the ink was dry on the TARP bill, we received notice from ALL of our credit card holders increasing our interest rate two, and some three, times its original rate. We were never over our limit nor did we ever make a late payment. We closed those we could. We have been paying the remaining ones quickly.

    We have not used a credit card since and won’t use them again. Call it revenge if you like! We encourage others to do the same.

  • http://WBDM Joe in JT

    Once while between jobs I applied for food stamps. After all the utility bills I had to show them and let them scower through my checking and savings accounts, they finally said yes you qualify. They gave me 10 bucks a month. Thanks a pant load. Now fast forward to 2011. The California food stamp website shows who qualifies for food stamps, especially interesting is the section who qualifies under illegal. To my horror and amazement if learned that if you are an illegal alien i.e.Mexican, and you were trafficed…key word “trafficed” you get the whole enchelada in food stamps. And what does trafficed really mean? You came over to this country from Mexico in a white van driven by some guy named Coyote. But because I’m a white guy with blonde hair and blue eyes and worked my ass off all my life but fallen on hard times recently … I only get ten bucks a month. Such a country.

  • Cameron

    Yes Matt you are correct. Corporate crime is a bigger factor to worry about concerning the erosion of a nation. JP might have a intentional hand in welfare figures but they are more than happy to profiteer from it. Not just cover the cost, but make money off of it. Kind of easy to see where their vested interest lies. The conditions set for welfare are ideal for these institutions to make even more money. In big letters now, it SHOULD be in institutions like JPM interests to service people who are EMPLOYED and SELF SUFFICIENT. Making money from a healthy economy not picking the bones of people like vultures. After all, the conditions for using their systems are simply the kind of corporate evil so many talk about. A company shouldn’t make any money off of people in a nation which is suffering misfortune. After all, the value of the money made is ultimately held by the people of that nation through it’s armies.

  • Sailor Jo

    Believe it or not, though some founding “fathers” were honest guys, the country is built on corruption. They use nice names for it like “lobbyists work” or “politics” or plain “economy”. In this miserable time it is a scandal that counties raise taxes, let employees go while a bank full of crooked people is reaping profits. But the real scandal is not the milking of the government that the bank does but the sheer lack of responsibility by the politicians who promote this waste of public funds. The politicians are completely detached from reality because they pamper themselves on taxpayers funds. Shame on them!

  • jgmurphy

    racerx, you say that most likely because you are in no actual danger of starving. If you were, I’ve no doubt you would take the “handout.” Many people do not have a choice.

  • SW Engr

    JP Morgan is number 1 in this, and Xerox which just recently bought ACS is number 2. Not only are the call center jobs outsourced, but also the hi level jobs, such as the software programming. Americans’ financial info is illegally sent to China to do this. Some states forbid this, others demand it to lower the cost. No matter what the contract says, its all outsourced. By the time the regulators catch it, the profits will be offshored in the Caymans, so the companies don’t care. I know, I work there.

  • ned

    Slavery is highly lucrative for the masters.

    Investigate this!

    JP Morgan Chase also has all the govt account issuing UNEMPLOYMENT PAYMENTS that used to be handled by the Dept of Labor.

  • JPP

    Why are you so peacefull? Why do you not do anything? Look at Tunisia, things can be achieved if you are willing to stand for it. Life is short. You can accomplise something great if you’re willing to take the steps. This article and articles like it (http://www.24-7pressrelease.com/press-release/insurance-companies-shamelessly-profit-from-the-death-of-servicemembers-171217.php) proves without a shadow of a doubt that they think that they can own us. This is bullshit. Life doesn’t work like that, because societies and their rules are created and agreed upon by us all. Not some assholes in wallstreet. Why aren’t these corporation in the trash bin? You think that you cannot do anything? THIS IS NOT TRUE.

    -I’m little angry today…

  • http://www.pathtoasia.com rhea

    Welcome to your future, America.

    I’m anxious to hear a conservative argue against the socialist food stamp entitlement.

    We help Americans find jobs and prosperity in Asia. For details, visit http://www.pathtoasia.com/jobs/

  • jon addison

    The following quote from Wikipedia references coal company scrip:

    “Company scrip is currency issued in certain industries to pay workers. Such scrip can only be exchanged by wage-earners in company stores owned by their employers and often charging inflated prices. In the UK, such systems have been formally outlawed under Truck Acts.
    In the United States, mining and logging camps were typically created, owned and operated by a single company. These remote locations were cash poor and workers had very little choice but to purchase goods at a company store. With this economic monopoly, the employer could place enormous markups on goods, making workers completely dependent on the company, thus enforcing employee “loyalty” The practice continues today. On Sept 4, 2008, the Mexican Supreme Court of Justice ruled that Wal-Mart de Mexico, the Mexican subsidiary of Wal-Mart, must cease paying its employees in vouchers redeemable only at Wal-Mart stores.”

    The practice does indeed continue today, and not just in Mexico.

  • mondobeyondo

    If you are old enough to have played pinball machines (maybe they are still around), you know you can try to “tilt” the machine, to try to manipulate that little ball to gain extra points.

    That’s what big business and banks are doing to America, and America’s economy. Don’t even mention the stock market.

    It’s all being manipulated, and not in a good way, for you and me at least.

    “Money, money, money… always sunny… in the RICH MAN’S WORLD!!!” – Abba

  • Paddy

    They just seem to be having all kinds of problems lately. – Making loads of money off the backs of the poor aint one of them though

  • Tony

    These banks are like kudzu. They’re everywhere and ruin everything.

  • Toeser

    It is absolutely appalling that 43 million people are taking food stamps. Just one more step towards total socialism and a banana republic economy. I have never been less optimistic about this country’s future.

  • Lennie Pike

    Fascism it is. But there are at least two forms of it – lite, and extra strength. With the former the authoritarianism is held to a workable minimum. In the later people who don’t agree with it are hauled off in box cars and either enslaved or killed – usually tortured fist since it is in the nature of fascists to inflicting a little torture when they get the chance.

    How many millions of Americans are there still remaining that will disagree with this Fascism as to force the hand of the Fascists to go with ahead and implement the extra strength brand?

    It’s how it’s done in China, and things looked way too buddy-buddy to me in D.C. this week.

    What’s going on in our airports and elsewhere is probably the beginning of the conditioning process. Don’t fear these nothings.

  • mondobeyondo

    Those money grubbing bastards.

    Why don’t the bankers just go to a tent city for the homeless, and just bash their heads in with a tire iron?

    “You didn’t pay your taxes last year, did you? And you owe us on your credit card account, too! SMACK!”

  • mondobeyondo

    WWJD? What Would Jesus Do?

    Run the merchants out of the temple, for starters. Which is exactly what He did (don’t ask me to quote Scripture. But it’s in there.)

    2,000 years later, things haven’t changed a bit. But we won’t run the merchants out.
    We can’t, really, not at this point. Our prosperity is tied to their prosperity, which is tied to the LACK of prosperity of the poor.

    Rob Peter. Pay Paul.
    Rob some more from Becky, Eric and Deanna.
    Pay it all to Ben Bernanke.

    Meet your new Uncle. Ben Bernanke, not Sam.
    Uncle Sam is soooo last century.

  • joe

    Basic economics here.
    If the government performed this service, might it be more costly for the taxpayer, potentially hurting the unemployed even more?
    And aren’t there a number of businesses that benefit from the recession?

    • S. Baragona

      joe said: “Basic economics here.
      If the government performed this service, might it be more costly for the taxpayer, potentially hurting the unemployed even more?
      And aren’t there a number of businesses that benefit from the recession?”
      But, if the government ran this service, wouldn’t they have to hire Americans to do this job? Potential employment for some under or unemployed
      Americans, who could use the work. Since our tax dollars are already being used to pay JP Morgan, why not pay it to a more direct route to people who are actually working Americans? I have to wonder how much of JP Morgan money goes into bonuses for CEO’s who really do no work at all? That profit certainly isn’t going back into the pockets of the American taxpayer. Perhaps our taxdollars would be more practical as paychecks to working Americans?

  • AENeuman

    @ joe
    You gov internet misinformation trolls are so easy to spot. I wish the American gov was just half as transparent as you slimy slugs.

    Yes lots of people are angry over the American gov and bankers corruption and the looting of our country. However are enough angry to do something about it and if there is just what the $#%@ can or will they or we do about it? So far all that’s being done is some irritated comments made while standing in line to be sheared. How many does it take to get out of the shearing line. And who dares get out of line for fear of retribution via the Patriots Act.

  • DC

    Joe,

    Government service, at least in theory, is by definition non-profit. JP Morgan, OTOH, is a for-profit business. You can bet any initial contract to manage food stamps was low-balled at the front end to make it look like the government is saving money, and to give the politicians the excuse they needed to outsource.

    It’s usually not until year 2 or 3 that these contracts start making big bucks for outsourcing companies. Once the hook is in, when the in-house people who knew how to manage food stamps have been laid off, so that there is no longer any in-house expertise — no effective oversight of JP Morgan — this is when the real screwing begins.

    Bitch all you want about government workers, at least those people were fellow Americans employed within the borders of the US, instead of an outflow of cash to foreign workers.

    Countries like India actually promote and protect jobs for Indians. It is not easy for an Indian company to hire a foreigner (like an American attempting a “reverse” outsource). We, on the other hand, as a nation seem to delight in screwing over our fellow Americans. That’s is ultimate what’s wrong. Canadians say, “We’re all in this together.” Americans say, “I’ve got mine; screw you.”

  • Gary2

    WWJD? What Would Jesus Do?-Jesus would tax the rich and spread the wealth-he fed 5 thousand and threw the money lenders(rich) out of the temple. also the rich/heaven eye of needle thing.

    Maybe if we tax the rich and spread the wealth we will help the rich get to heaven seeing as they can not go through the eye of a needle on a camel!

  • Expat-Wannabe

    Reading this was like watching a slow moving train wreck – powerfully illustrated. Well done.

  • http://home.earthlink.net/~jamiranda/terminallystupidalgorithmtsa/index.html Joseph_M

    This is one reason the welfare state will never come to an end. Too much money in it.

  • http://economichostage.com EconomicHostage

    Patriot One said “This is the only reason this depression doesn’t look like the Great Depression. All the hungry and unemployed are hidden in plain sight.

    Yes they are right next to you in line at the grocery store, Walmart, Sam’s, Costco. Almost all government poverty programs have the benefit delivered electronically.

    No lines at the State offices, no lines anywhere. They are now in line right next to you. From what I’ve seen most are better fed then I am.

    You will also notice none of the benefits go to small business and small banks. More bailouts for big business and big banks.”

    You are so right yet so wrong. I happen to be one of the unemployed members (Arizona) receiving my UI benefits by Chase Bank.

    Yes we do stand in line like everyone else. We have those damn cards foisted upon us by the State. I do not get food stamps nor have I applied for them.

    My dignity suffers none. I am in my mid fifties. Have worked and paid taxes since the age of 15. I was downsized. Horrible term.

    Think about what you are saying people. It could happen to you. I am not ashamed nor am I less of a citizen. Again, It could happen to you. Think about what you are saying and who you are saying it about.

  • Steve

    DC and Joe,

    DC makes a very good point about how large banks and other corporations take over government functions — and that there is too little oversight over these contractors. Yes, a few dollars may be saved by outsourcing call centers to India, but within a couple years the contractors have figured out any number of ways to soak the government (and us taxpayers), with the result that costs are usually much higher than previously. Of course the contractors and their paid-off Congressmen and Senators portray themselves as white knights in shining armor, who are saving the country from the ‘lazy, worthless socialist’ government employees. And DC is also right in saying that the American attitude needs to change to “We’re all in this together.”

  • http://economichostage.com EconomicHostage

    By the way. Unemployment Insurance compensation is not a government poverty program per say.

    consider the fact that someone in my position worked and paid taxes including unemployment taxes for better than 40 years.

    I have had to use it twice in my lifetime. Now being one of those times. I am not a charity case. Nor am I better fed than anyone else at the grocery store.

    My benefits are paid electronicly, not in food stamps but in cash on a debit card. What the State of Arizona pays Chase, I have no idea. But again my situation like anyone else is that that after working my butt off for years and years I find that I have been downsized.

    Some people should think before they let those bell clappers they call a mouth ring out.

    • Mikey

      Technically you don’t pay unemployment taxes. Your employer takes it out of your check and pays it to the government.

  • ghandi

    OMG, the Irony. If your Food Card don’t work you have to plead with an Indian so you can eat tonight.
    Could be worse I suppose, could be Afghans.

  • Jason Waters

    Facism is right. The United States is committing financial suicide, plain and simple.
    Wall Street and the financial sector in general has really sine the 1980’s been strengthening its death grip on society. It intensified in the 1990’s and 2000’s. After the crash, the rich have not seen hardly ANY difference in their salaries on Wall Street. It is unhealthy for the economy. BLS numbers show the shift in income upwards since the 1980’s. The coming inflation in the next year or two is going to make things even worse. The financial industry is just a big casino now days. Their function as an intermediary between investors and real businesses that need money is a joke in so many ways. The amount of trading that goes in at Goldman and other firms far outweighs the good that is sometimes done when businesses in need of capital receive money and in effect jobs are created etc.. that virtuous cycle thing. The U.S. is slowly deteriorating into a sewer of a society with most closer to the bottom than the top. It is sad… :(. I am sad for America right now, but at the same time it is so disgusting as we are doing it to ourselves.

  • Owen

    Don’t get too dependent on the handout – it won’t last. Those who run this whole, evil “one world government” system want only one thing from the vast majority of us: They want us to die! “And except those days had been shortened, no flesh would have been saved: but for the elect’s sake those days shall be shortened.” Matthew 24:22

  • Davidus Romanus

    Don’t forget that whenever the Fed prints new money, they lend it to JPM and the other banks at close to 0% interest. The banks then turn around and lend that money to the Fed Gov at 3%. So the banks are ripping off the taxpayers again, because the Fed Gov needs to borrow this money to pay for food stamps, unemployment benefits, etc. The taxpayers are paying the big banks interest on money that didn’t exist last year. Nice work if you can get it.

  • bookbabe

    Here in New York, Chase Manhattan disburses the Unemployment Insurance debit cards. I think they process food stamps, too.

    Normally, I prefer to see things done by private enterprise rather than government organizations. I guess I still do. After all, how “private” is any big financial company in this country if it’s been bailed out by Uncle Ben.

  • Jean Sudbury

    I opened an retirement account at WAMU because I seemed to get hands-on service from the company. When JP Morgan/Chase took over, I was suspicious that I would lose all my money to outside interests. Now that I know where the money grows, I will close my account with them and find somewhere else to put it. It’s just a little bit, yet dynasties are built and dynasties are destroyed bit by bit, piece by piece…

  • Kevin

    bookbabe

    You stated.

    “After all, how “private” is any big financial company in this country if it’s been bailed out by Uncle Ben.”

    There is a flip side to that. How public is The US Government when one can see that they are controled by the big financial institutions.

  • mondobeyondo

    Big fishies eat little fishies.

    WaMu was eaten by JP Morgan.
    Goldman Sachs? Bailed out by JP Morgan. (I may be mistaken, correct me if I’m wrong)

    Get with the program, if you don’t wanna sleep with the fishies.

    JPMorgan would be glad to show you an offer you can’t refuse. How ’bout a new bank loan?

    (And yes, big banking is nothing short of a Mafia operation)

  • mondobeyondo

    Yes, it could be worse, I suppose.

    You could be at Wal-Mart at 11:58pm on January 31st, hoping the guy with the space heater in his cart will complete his purchase before 12:01 am February 1st, so your food stamp card kicks in just in time to buy some applesauce for your baby.

    Life is good! (huh?!?!)

  • kellie

    This is exactly the reason I only bank with local bankers. I buy as much of my goods and services from locally owned companies. I ask them where they bank when I am making purchases. I let them know how strongly I feel about locally owned banks and credit unions. Keeping your local economy strong is key in keeping your personal finacial health in tact. this past Christmas I bought a bed made in Wisconsin, a dresser made in Indiana, a Jaw Horse, sheets and even toys, socks and jewelery made in the USA. Every time I buy a product and am sent for technical support to another country I e-mail, write and call untill someone in upper management responds. I complain about the outsourcing until they can’t see straight or, as my kids say, bitch them into oblivion. If one tenth of American consumers would do the same thing we would flood thier lines until they were forced to do something about it. Come on America lets lead with our wallets while we still have them.

  • bo holmes

    What is the difference in costs , between when food stamps were paper ‘stamps’ and this debit card system . . . Obviously an increase , just how much . . .

    • kris mak

      the reason why it’s in cards and not PAPER is, it is now digitized- it is no longer “money” it cannot be audited. The debit card creates “instant, magic money” that can be created instantly and taken away.. instantly. You can’t take food stamp paper monies out of circulation, but you CAN take a digital money out of circulation in an instant.

  • http://www.crusecom.com Art Cruse

    Michigan is one state that keeps the EBT/WIC call center within the state. At Crusecom, we provide 50+ jobs to support the program in a Rural town of about 20,000 during the winter and 40,000 during the summer. The impact of keeping it local and within Michigan has been huge. We brought the call center back from India and Mexico, creating badly needed jobs in our community. We have also created a technology footprint that would allow other States to keep it local.

  • http://solari.com/blog/?p=1823 Linda Hyer

    What if conservatives, who preach small government, wake up and realize that our interventionist foreign policy provides the greatest incentive to expand the government?

    Video: http://www.youtube.com/watch?v=E2k7xXxdUJ0

  • Uncle B

    In a Corporocracy, ruled by corporate law, you must learn to park your patriotism at the door, with your common sense, before you enter! Read the definition of corporate law. Corporatists are, by American law, bound to serve the interests of their shareholder first!
    In the 70’s Ford sold Pinto cars that were fire-bombs. The cost of changing the design of these cars exceeded the cost of paying off the claims for damages. Ford, and its corporate executives were forced by American law to allow many deaths of American proletariat, and were obliged to pay off claims, instead of changing the design, a more expensive route for the shareholders. All this, for a better bottom line, for a larger ROI, for the benefit of the shareholders! Sadly, wars are fought, rivers, lakes and streams are polluted, spoiled food is sold, dangerous drugs are prescribed, roads are built, bridges to nowhere appear, for the same reasons, and lobbyists deem these things so.

  • Industry Insider

    I actually work at a bank that provides these debit cards on behalf of various government agencies for all sorts of benefits; child support, unemployment benefits, TANF, veteran’s benefits, social security and SSI payments – you name it. Bash the banks if you want but the government could NOT mange these programs effectively and the cards DO save money for the government. I am not one to defend the government (or banks – even though I work in one) but the government workers have no clue how to do this and all that is involved. They do not know the card business. It is very complicated. All the disclosures, the regulations, the servicing, the processing of the transactions, honestly. btw – even though I work for a major bank I say let them fail if they get themselves in trouble – NO BAILOUTS! Yes I would likely be out of work but I care more about the future of this great Country. I can always get another job doing SOMETHING.

  • poorgirl

    I am grateful jp morgan does this. Companies who make military equipment get paid lots of money to help ppl die. Jp morgan is helping a lot of ppl live. And the profit margin is probably minimal. I think its wrong for them to outsource to india though. The nature of the information is too personal

  • Rocky Pope

    No surprise here! In NY state, Chase also handles the debit cards for Unemployment Insurance (if needed). It was a strange coincidence that I started to receive offers for Chase credit cards once I became a 99er! Talk about predatory lending! NY state sells the names or worse yet, Chase mines the data illegally. They’ll try to offer anyone a credit card once they feel the person is vulnerable enough to be tempted! I never send any applications back, since I’d likely be denied. But I’d be able to get free credit reports then.

  • evilz

    this just in:

    it also costs money to make those cards. the plasic, ink, hardware and software involved. do you think just because its the Gov that stuff is free? yes they get paid but they also spend the money it takes to produce the product. and no im not some ‘internet misinformation troll’ just someone using COMMON SENSE.

  • mason

    did the author of this article bother doing any fact checking/research about food stamp recipients rather than relying on dated and innacurate stereotypes? because as someone who is employed and on fs i resent the implication that i shop at “walmart and the dollar store”

    • Kelly Simon

      Wait a minute…you, not mentioned in the article or any comments Resent the implication that you shop at ‘walmart and the dollar store’ with your food stamps or your paycheck money?
      That’s friggin classic right there boy/girl (not even sure of your gender)
      I love your comment however.

  • Bruce Springsteen

    Well, no cannonballs did fly, no rifles cut us down
    No bombs fell from the sky, no blood soaked the ground
    No powder flash blinded the eye, no deathly thunder sounded
    But just as sure as the hand of God, they brought death to my hometown
    They brought death to my hometown, boys

    No shells ripped the evening sky, no cities burning down
    No army stormed the shores for which we’d die, no dictators were crowned
    I awoke from a quiet night, I never heard a sound
    The marauders raided in the dark and brought death to my hometown, boys
    Death to my hometown

    They destroyed our families, factories, and they took our homes
    They left our bodies on the plains, the vultures picked our bones

    So listen up, my sonny boy, be ready for when they come
    For they’ll be returning sure as the rising sun
    Now get yourself a song to sing and sing it ’til you’re done
    Yeah, sing it hard and sing it well
    Send the robber barons straight to hell
    The greedy thieves who came around
    And ate the flesh of everything they found
    Whose crimes have gone unpunished now
    Who walk the streets as free men now

    Ah, they brought death to our hometown, boys
    Death to our hometown, boys
    Death to our hometown, boys
    Death to our hometown.

  • seven

    they dont only provide the cards, the entire program is a tax right off .what a great country, free food, and people who made it possible make money in the process. one nation under GOD..yah CIA, yah Illuminati, yah 7…anyone complaining is a fool, go find a better country

  • Truth Teller

    No one should be surprised. The USA is actually run by and for major multinational corporations. This is really only the tip of the iceberg.

    Why do you think Obama is so much like Bush that he has changed practically nothing from “W”? They both work for the same people.

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