It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

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

page: 1
4

log in

join
share:

posted on Jan, 19 2011 @ 11:59 AM
link   


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?


theeconomiccollapseblog.com...

Can you imagine that? The bankers took the world into a recession and now the government is handing out contracts to run food stamps to the banks?

Why shouldn't a government organise this system in house and control the food stamp cards and force by law the use of electronic credit card machine infrastructure in the interest of the American people who are still paying for the bailout money?




posted on Jan, 19 2011 @ 12:20 PM
link   
Yessir! These guys are evil.

They know how to make money in a recession and during an economical boom.

I'm somewhat surprised it wasn't Goldman Sachs that was in the thick of it.



posted on Jan, 19 2011 @ 09:46 PM
link   
Don't forget the fees they're collecting for distributing unemployment too.

I know here in Colorado they're the ones handling the "debit" cards that unemployment is being applied to.



 
4

log in

join