PDA

View Full Version : Wall Street Pigs



Gayle in MD
01-25-2011, 08:48 AM
<span style='font-size: 14pt'>JP Morgan Makes Big Bucks from Food Stamp Growth, Then Hires Workers in India with Our Tax Dollars</span>

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....


see video:
http://www.alternet.org/rss/1/446636/jp_...our_tax_dollars (http://www.alternet.org/rss/1/446636/jp_morgan_makes_big_bucks_from_food_stamp_growth,_ then_hires_workers_in_india_with_our_tax_dollars)

Sev
01-25-2011, 08:53 AM
HAHAHHAHHHAHAHA!!!

Thats just to ironic.

pooltchr
01-25-2011, 11:49 AM
They aren't making money off the food stamp recipients. They are making money off a government contract, awarded to them to facilitate another government entitlement program.

In other words, the taxpayers are the ones paying for the contract.

You seem to be a supporter or more and bigger government, then you complain when you get it.
WTF?????

Do you think all these government programs don't have a price tag? The government hired a bank to handle the financial transactions of their program.

See how well big government works?

Steve

Sev
01-25-2011, 01:35 PM
I dont think you'll achieve penetration Steve.

sack316
01-25-2011, 03:00 PM
What this says to me is that apparently the government cannot, on its own, handle necessary social programs that are already within the realm of its responsibility.

So what do we do? Add more programs? Like student loans, health care, etc to what it does?

BTW, the individual states (who are the ones who originally outsourced handling these programs to companies such as JPM to save money) can require domestically located call centers and processing. Talk to them too. I, of course, think it would be an admiral thing for JPM and others to keep the work here. But the reality is the states are getting what they asked for... the cheapest possible method of handling the programs.

Sack

pooltchr
01-25-2011, 04:03 PM
Yes, but you are missing the point. This is another opportunity to cry about Wall Street!
There is no point to this thread other than her never ending war against big business.
I bet she has a poster on her wall with Wal Mart, BP, Haliburton, JPMorgan and others with crosshairs overlaid on them!!!!

Steve

LWW
01-25-2011, 05:00 PM
It seems that the pigs liked dear leader to the tune of $695,132.

OH DEAR! (http://www.opensecrets.org/pres08/contrib.php?cycle=2008&cid=n00009638)

LWW

LWW
01-25-2011, 05:02 PM
It appears that dear leader so loved the chairpig of JPM that he made them chief of staff!

OH MY! (http://maplight.org/content/72520)

I bet that wasn't on the spoon.

LWW

Gayle in MD
01-26-2011, 09:50 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: sack316</div><div class="ubbcode-body">What this says to me is that apparently the government cannot, on its own, handle necessary social programs that are already within the realm of its responsibility.

So what do we do? Add more programs? Like student loans, health care, etc to what it does?

BTW, the individual states (who are the ones who originally outsourced handling these programs to companies such as JPM to save money) can require domestically located call centers and processing. Talk to them too. I, of course, think it would be an admiral thing for JPM and others to keep the work here. But the reality is the states are getting what they asked for... the cheapest possible method of handling the programs.

Sack </div></div>


That's quite a twist on the issue. Any proof of what you are saying?

BTW, any congrats to the Administration, and the Democratic majority, for fending off the Bush Depression?

http://www.nytimes.com/2011/01/27/business/27markets.html?_r=1&hp

pooltchr
01-26-2011, 10:14 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Gayle in MD</div><div class="ubbcode-body">
That's quite a twist on the issue. Any proof of what you are saying?

</div></div>

The proof is in the fact that it is being done.

Steve

Sev
01-26-2011, 10:29 AM
Medicare: Fail!
Medicaid: Fail!
Amtrak: Fail!
USPS: Failing!!
Soc Sec: Fail!!
Fannie: Fail!!
Freddie: Fail!!
Great Society: Fail!!
The New Deal: Fail!!
The War on Drugs: Fail!!
Department of Education: Fail!!
Providing & Maintaining Infrastructure: Fail!!
Securing our borders: Fail!!

LWW
01-26-2011, 11:13 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Sev</div><div class="ubbcode-body">I dont think you'll achieve penetration Steve. </div></div>

http://www.ksvoboda.com/wp-content/uploads/2010/10/scared-to-death.png

<span style='font-size: 26pt'><span style='font-family: Arial Black'>DON'T EVER HINT AT THAT AGAIN!</span></span>

LWW

sack316
01-26-2011, 02:16 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Gayle in MD</div><div class="ubbcode-body">
That's quite a twist on the issue. Any proof of what you are saying?
</div></div>

Yes. The states hired outside help to handle these programs is the proof.

Sack

LWW
01-26-2011, 02:21 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Gayle in MD</div><div class="ubbcode-body">That's quite a twist on the issue. Any proof of what you are saying?</div></div>

Your own link would be a good start.

Did you even read it?

That's funny ... I made myself laugh with that one.

LWW