Food stamps a growth industry for JP Morgan.

(11 am. – promoted by ek hornbeck)

Okay, the next step in our free-market fundamentalist socio-economic ontogeny really is “soylent green is people!”  I mean mother fucker!  JP Morgan is one of the chief causes of putting people on food stamps, AND they are the number one provider of food stamps to Americans.  They profit directly in taxpayer dollars from the destitution they cause us.

Are you shitting me?  Is this the Twilight Zone?

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?  

First, who in the world thought that an investment bank would be a provider of food stamps in the first fucking place?  When did that become privatized?  And why the fuck would you privatize food stamps in the first place?  Because everything becomes more efficient when you pay for exorbitant profits and executive bonuses?  How does paying for some cocksucker’s gazillion-dollar house in the Hamptons make feeding the destitute more efficient?  How does everything get fucking financialized?  How does paying rent on every god-damned government function create efficiency?  

When our “legislative engineers” begin engineering solutions to our problems, their first order of duty appears to be mandating conflicts of interest in every blueprint and block of programming code.  Every god-damned flow chart indicates that the person causing the problem for a fee is the person in charge of fixing it for a fee in an infinite loop of corruption.  Every input and output in the declaration file assigns citizens as suckers and Wall Street as benefactors of our largesse.  And if there is a programming bug, such that there is a government function from which Wall Street is not siphoning profits, they send their lobbyist lizards skulking into Congress to get those bugs out.

Food stamp usage went from 27 million to 43 million between 2007 and now, because Wall Street crashed the global economy.  We bailed them out and went on food stamps.  How do they manage to profit off of every god-damned discomfort and distress twice, thrice, really, who knows how many times their profits and bonuses treble for every ounce of woe they foist on us?

Just listen to this Wall Street lizard croaking out his reason for living:

“Volumes [of food stamps and profits] have gone through the roof in the past couple of years.”  Our indigence, misery, and privation are a boon to them, a fucking growth industry.  They’re burning our candle on both ends.  And in the middle.  Fuck.  Them.

How is it that Wall Street and Congress have the balls to do this?

I feel like cold-cocking someone.  How’s that for civility, cocksuckers?   Tunisia, here we come.

11 comments

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  1. … cheer up the new WH chief of staff knows how to do this sort of thing.

    headdesk

    facepalm

    eyeroll

  2. MF’s, indeed!

    They just can’t get their hands on ENOUGH money — always scheming for MORE, again, at the expense of ordinary Americans!

    How despicable is this?

    JP Morgan Chase Says it Overcharged, Wrongfully Foreclosed on Military Families

    Date Published: Thursday, January 20th, 2011

    JP Morgan Chase appears to have violated the Servicemembers Civil Relief Act (SCRA) by overcharging military families on their mortgages. The nation’s second largest bank has also admitted that it wrongfully foreclosed on more than dozen military members.

    The SCRA is designed to protect troops and their families from financial stress while they’re in harm’s way. Under the act, active-duty troops generally get their mortgage interest rates lowered to 6 percent and are protected from foreclosure.

    But according to an NBC News report, an official with JP Morgan Chase has admitted that some 4,000 troops may have been overcharged. Even worse, 14 military families were wrongfully foreclosed. . . . .

    Visit msnbc.com for breaking news, world news, and news about the economy

    I just received this e-mail from:

    Dear  

    You may have heard this horrific story on NBC News this week.  More than 4000 troops were overcharged for their mortgages by JP Morgan Chase, while 14 more were foreclosed on improperly.  Under the Servicemembers Civil Relief Act (SCRA), active-duty troops generally get their mortgage interest rates lowered to 6 percent and are protected from foreclosure.  JP Morgan Chase had been charging troops interest rates of over 9 and 10 percent.

    This cannot go without investigation.  We need you to co-sign our letter to the Chairs and Ranking Members of the relevant committees in the House and Senate.

    CO-SIGN OUR LETTER TO THE HILL, CALLING FOR INVESTIGATIONS, NOW! . . . .

    Deregulation produces wild boars!

    • Xanthe on January 21, 2011 at 1:49 am

    smiling father and young daughter on the EBT sign up sheet is quite fetching.  Oh look daddy, now we can eat.

    Unfookingbelievable.    

  3. … in Michigan, Chase does unemployment compensation, too.

  4. that this does not surprise me. They need to fail, but if they do they will make a killing off there own demise, after all they will bet on it. Meanwhile scare the pants off of everybody with Sarah Palin and call all the suckers moderate cause we all want to be rational and in the middle the extremists are not pragmatic.. Now the Fed’s are telling the sates who are broke to get the money off the freeloading pensioners and the state employees who have ‘Cadillac’ health insurance and make too much money.  

    Can’t even get riled anymore, this week was so revealing if you look beyond and behind the absurd government kabuki show of Job Killing HCR extortion bill repeal and the amped up insanity of the right wing nuts they use for cover, your stuck in awe at the willful stupidity of ‘we the people’ and especially the so called moderate center. Progressives my ass. Do we prefer to allow this out of fear or are we really just blind and really do believe in The Theory and Practice of Oligarchical Collectivism. Who would have thought that this would be what we got from  getting rid of the Bushies.

    http://en.wikipedia.org/wiki/T…                  

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