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What JP Morgan Chase Makes Off the Food Stamp Program

 
Anonymous Coward
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10/29/2013 04:50 PM
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What JP Morgan Chase Makes Off the Food Stamp Program
Last year, an article by Peter Schweizer in The Daily Beast broke down some of the money JP Morgan Chase makes for its role in the food stamp program. “18 of the 24 states JP Morgan handles have been contracted to pay the bank up to $560,492,596.02 since 2004. Since 2007, Florida has been contracted to pay JPMorgan $90,351,202.22. Pennsylvania’s seven-year contract totaled $112,541,823.27. New York’s seven-year contract totaled $126,394,917.”

None of this contract data is made public, but Schweizer crunched some numbers and determined that, since 2004, 18 states (out of two dozen the megabank has contracts with) were contracted to pay JPMorgan Chase more than half a billion dollars.



[link to business.time.com]
Anonymous Coward
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11/02/2013 09:09 PM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
Of course, that way they can charge interest on sales then get more from the feds.
Spam Killer
The Law west of Mumbai

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11/02/2013 09:18 PM

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Re: What JP Morgan Chase Makes Off the Food Stamp Program
GREAT FIND OP, I remember when word of this first came out
AND NOW THESE CRIMINAL S.O.B.S HAVE BEEN CAUGHT RED HANDED WITH THEIR HANDS IN THE TILL ON MORTGAGES

Wonder what they're doing with this program Hmmmm?

Karma and a pin for you!

Last Edited by Spam Killer on 11/02/2013 09:18 PM
Vishal Rawat is my little bitch and he loves it.
Corkygreenstate

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11/02/2013 09:30 PM

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Re: What JP Morgan Chase Makes Off the Food Stamp Program
5 * and green for you!
The world just might end with me
Pooch

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11/02/2013 09:35 PM

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Re: What JP Morgan Chase Makes Off the Food Stamp Program
How do I thank the op?...good, call em out.
I don't care what they say about you,I think you are alright.
Earth Daughter

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11/02/2013 09:37 PM

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Re: What JP Morgan Chase Makes Off the Food Stamp Program
They want people to be poor. They don't care about creating or saving jobs. It's all the same to them. If you fail and need assistance, they still profit. Tax slave, debtor, or EBT user - they profit off of all of it. It's always win-win for the banksters.

Last Edited by Earth Daughter on 11/02/2013 09:38 PM
"Arrows of hate have been shot at me too, but they never hit me, because somehow they belonged to another world, with which I have no connection whatsoever." - Albert Einstein
Anonymous Coward
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11/02/2013 09:37 PM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
More the economy hurts, more money is made.

[link to www.dailyjobcuts.com]
.
Anonymous Coward
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11/02/2013 09:54 PM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
Every $1.00 spent in food stamps generates $1.70 in the US economy.
Pony Up

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11/02/2013 09:56 PM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
Their empire may crumble if the petro dollar goes, hope they have a lot of gold and not fiat money.

The military fix is being positioned now to see to no bullying in the middle east comes from the good ol USA.
The days of US influance in the region is all but gone, as there is a new player now.

" Russia's 'aircraft carrier killer' Varyag and battle cruiser Pyotr Veliky arrive in Mediterranean. "

[link to rt.com]
Spam Killer
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11/02/2013 10:00 PM

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Re: What JP Morgan Chase Makes Off the Food Stamp Program
Every $1.00 spent in food stamps generates $1.70 in the US economy.
 Quoting: Anonymous Coward 48405435


Which was one of the main reasons congress boosted them at the start of this current disaster but JPM is skimming a % on every $ that runs through them as processing fees, much like their credit and debit cards- it should be wildly profitable for them if they took only 1% and as far as I'm concerned that's plenty.
Vishal Rawat is my little bitch and he loves it.
Anonymous Coward
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11/02/2013 11:00 PM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
Every $1.00 spent in food stamps generates $1.70 in the US economy.
 Quoting: Anonymous Coward 48405435


My opinion is: Every dollar put back into the economy creates more interest profits for the bankers. Yea that's right! That money is sent right back to the bankers pockets where they can loan it back out. When the companies get that assistance money they deposit back it into their banks. The banks then loan most of it back out as cash to collect even more interest on it.

The banks have it all figured out. welfare=debt=interest=more debt. repeat..

That money going back into the economy as more debt opportunity. They lobby big money to keep welfare growing because it just helps them earn more.

This is my views and may not reflect the views of others on GLP.
Anonymous Coward
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11/02/2013 11:09 PM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
Every $1.00 spent in food stamps generates $1.70 in the US economy.
 Quoting: Anonymous Coward 48405435


My opinion is: Every dollar put back into the economy creates more interest profits for the bankers. Yea that's right! That money is sent right back to the bankers pockets where they can loan it back out. When the companies get that assistance money they deposit back it into their banks. The banks then loan most of it back out as cash to collect even more interest on it.

The banks have it all figured out. welfare=debt=interest=more debt. repeat..

That money going back into the economy as more debt opportunity. They lobby big money to keep welfare growing because it just helps them earn more.

This is my views and may not reflect the views of others on GLP.
 Quoting: Anonymous Coward 48929708


Opps forgot something.

You're 100% right. That money is used to buy food. $1
Is deposited into a bank after a sale is made. That bank loans out about 70 cents or more of that money to an entity. The company who deposited the money still has an account with $1 added on it. The entity who got the loan also has $70 that deposits. Cycle repeats.

See how it creates money back into the economy? That created money has interest on it at every recycle step and people pay taxes on it. I'm not very smart but even I understand this.
Anonymous Coward
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11/02/2013 11:43 PM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
Last year, an article by Peter Schweizer in The Daily Beast broke down some of the money JP Morgan Chase makes for its role in the food stamp program. “18 of the 24 states JP Morgan handles have been contracted to pay the bank up to $560,492,596.02 since 2004. Since 2007, Florida has been contracted to pay JPMorgan $90,351,202.22. Pennsylvania’s seven-year contract totaled $112,541,823.27. New York’s seven-year contract totaled $126,394,917.”

None of this contract data is made public, but Schweizer crunched some numbers and determined that, since 2004, 18 states (out of two dozen the megabank has contracts with) were contracted to pay JPMorgan Chase more than half a billion dollars.



[link to business.time.com]
 Quoting: Melrox


morgan and his buddies will get piano lessons shortly.
Anonymous Coward
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11/02/2013 11:53 PM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
It's name is Fascism
And we are Germany this time around.
Question is .......who or what is America?
Anonymous Coward
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11/02/2013 11:59 PM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
How Dimon is still breathing, given the number of people he's personally destroyed, is amazing to me.
Anonymous Coward
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11/03/2013 12:04 AM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
How Dimon is still breathing, given the number of people he's personally destroyed, is amazing to me.
 Quoting: Anonymous Coward 47274161


clappa
not only breathing but getting a promotion.
Anonymous Coward
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11/03/2013 12:10 AM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
Like poor people give a rat's ass?
BxMac

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11/03/2013 12:30 AM

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Re: What JP Morgan Chase Makes Off the Food Stamp Program
$16 Billion in fines for JP Morgan since 2010 (and knee-deep in Corzine's disappearing money scam at MF Global) and yet life is good for Dimon and the boys at JPMorgan Chase:

" Shareholders can’t – or won’t – fire them. The government won’t prosecute them. Taxpayers are helping them get rich. And every day their institution becomes bigger and more powerful. Sure, all that power doesn’t come cheap, but they’ve found other people willing to pay the price …"

What's in your wallet."

Oh, shit, it's Dimon and the government.

It's free, swipe your EBT!
Nerve03

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11/03/2013 12:33 AM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
How Dimon is still breathing, given the number of people he's personally destroyed, is amazing to me.
 Quoting: Anonymous Coward 47274161


clappa
not only breathing but getting a promotion.
 Quoting: Anonymous Coward 49358633


If someone killed dimon everyone on here would hate the guy that did it. seriously there will never be a revolution.
Miggy

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11/03/2013 12:36 AM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
I remember a few years ago when people first started discussing centralized banking.

Many wondered who would be the top contenders.

Would it be Wells Fargo, BOA, Chase, etc?

I couldn't figure out who in their right mind couldn't see that it would be Morgan/Chase, what-with their contract for food stamps, alone.

JP Morgan will control banking AND food.

They've set it up to be this way.

And when the whole thing falls it's going to be uglier than anyone can imagine.

Just my opinion, of course.

Last Edited by Miggy on 11/03/2013 12:44 AM
Be Still and know that I am God.
-Psalms 46:10
Anonymous Coward
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11/03/2013 12:38 AM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
How Dimon is still breathing, given the number of people he's personally destroyed, is amazing to me.
 Quoting: Anonymous Coward 47274161


clappa
not only breathing but getting a promotion.
 Quoting: Anonymous Coward 49358633


If someone killed dimon everyone on here would hate the guy that did it. seriously there will never be a revolution.
 Quoting: Nerve03


You are kidding right?
Anonymous Coward
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11/03/2013 12:40 AM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
I remember a few years ago when people first started discussing centralized banking.

Many wondered who would be the top contenders.

Would it be Wells Fargo, BOA, Chase, etc?

I couldn't figure out who in their right mind couldn't see that it would be Chase, what-with their contract for food stamps, alone.

JP Morgan will control banking AND food.

They've set it up to be this way.

And when the whole thing falls it's going to be uglier than anyone can imagine.

Just my opinion, of course.
 Quoting: Miggy


This is so sad.
Home of the "Brave"
Home of the "Free"
Anonymous Coward
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11/03/2013 12:45 AM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
JP Morgan is also processing Federal Tax returns now.

So they print the money, and charge us interest for it, process income tax forms, and probably collect the taxes, and are running the EBC program in some states. They probably have their sticky fingers in everything.

Besides that they own my mortgage - LOL.
Miggy

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11/03/2013 12:58 AM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
JP Morgan is also processing Federal Tax returns now.

So they print the money, and charge us interest for it, process income tax forms, and probably collect the taxes, and are running the EBC program in some states. They probably have their sticky fingers in everything.

Besides that they own my mortgage - LOL.
 Quoting: Anonymous Coward 46809231


They don't just own your mortgage, they own YOU.

When this is all over they'll own all of us.

What I want to know is who owns THEM?

I'm guessing China.
Be Still and know that I am God.
-Psalms 46:10
Anonymous Coward
User ID: 49358633
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11/03/2013 01:05 AM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
JP Morgan is also processing Federal Tax returns now.

So they print the money, and charge us interest for it, process income tax forms, and probably collect the taxes, and are running the EBC program in some states. They probably have their sticky fingers in everything.

Besides that they own my mortgage - LOL.
 Quoting: Anonymous Coward 46809231


They don't just own your mortgage, they own YOU.

When this is all over they'll own all of us.

What I want to know is who owns THEM?

I'm guessing China.
 Quoting: Miggy


5a
Anonymous Coward
User ID: 49362311
Japan
11/03/2013 01:21 AM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
JP Morgan is also processing Federal Tax returns now.

So they print the money, and charge us interest for it, process income tax forms, and probably collect the taxes, and are running the EBC program in some states. They probably have their sticky fingers in everything.

Besides that they own my mortgage - LOL.
 Quoting: Anonymous Coward 46809231


They don't just own your mortgage, they own YOU.

When this is all over they'll own all of us.

What I want to know is who owns THEM?

I'm guessing China.
 Quoting: Miggy


5a
 Quoting: Anonymous Coward 49358633


[link to dcclothesline.com]
Anonymous Coward
User ID: 49358633
United States
11/03/2013 01:35 AM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
JP Morgan is also processing Federal Tax returns now.

So they print the money, and charge us interest for it, process income tax forms, and probably collect the taxes, and are running the EBC program in some states. They probably have their sticky fingers in everything.

Besides that they own my mortgage - LOL.
 Quoting: Anonymous Coward 46809231


careful there,,,you will end up on a list!
Anonymous Coward
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United States
11/03/2013 01:44 AM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
It's name is Fascism
And we are Germany this time around.
Question is .......who or what is America?
 Quoting: Anonymous Coward 49358633


One big Scam

everything here is a Scam

health care, education, the court system

EVERYTHING

america = scam
Anonymous Coward
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11/03/2013 04:24 AM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
Every $1.00 spent in food stamps generates $1.70 in the US economy.
 Quoting: Anonymous Coward 48405435


Bullshit! Printing up foodstamps does not create any value. You can only create value by doing things like growing food or mining minerals or doing something productive. Take your bullshit shillery elsewhere, commie asswipe!
Anonymous Coward
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11/03/2013 04:51 AM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
Every $1.00 spent in food stamps generates $1.70 in the US economy.
 Quoting: Anonymous Coward 48405435


My opinion is: Every dollar put back into the economy creates more interest profits for the bankers. Yea that's right! That money is sent right back to the bankers pockets where they can loan it back out. When the companies get that assistance money they deposit back it into their banks. The banks then loan most of it back out as cash to collect even more interest on it.

The banks have it all figured out. welfare=debt=interest=more debt. repeat..

That money going back into the economy as more debt opportunity. They lobby big money to keep welfare growing because it just helps them earn more.

This is my views and may not reflect the views of others on GLP.
 Quoting: Anonymous Coward 48929708


Opps forgot something.

You're 100% right. That money is used to buy food. $1
Is deposited into a bank after a sale is made. That bank loans out about 70 cents or more of that money to an entity. The company who deposited the money still has an account with $1 added on it. The entity who got the loan also has $70 that deposits. Cycle repeats.

See how it creates money back into the economy? That created money has interest on it at every recycle step and people pay taxes on it. I'm not very smart but even I understand this.
 Quoting: Anonymous Coward 48929708


You're smarter than the tards claiming the Fed Reserve makes the money out of thin air!
Anonymous Coward
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11/03/2013 04:55 AM
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Re: What JP Morgan Chase Makes Off the Food Stamp Program
Every $1.00 spent in food stamps generates $1.70 in the US economy.
 Quoting: Anonymous Coward 48405435


My opinion is: Every dollar put back into the economy creates more interest profits for the bankers. Yea that's right! That money is sent right back to the bankers pockets where they can loan it back out. When the companies get that assistance money they deposit back it into their banks. The banks then loan most of it back out as cash to collect even more interest on it.

The banks have it all figured out. welfare=debt=interest=more debt. repeat..

That money going back into the economy as more debt opportunity. They lobby big money to keep welfare growing because it just helps them earn more.

This is my views and may not reflect the views of others on GLP.
 Quoting: Anonymous Coward 48929708


Opps forgot something.

You're 100% right. That money is used to buy food. $1
Is deposited into a bank after a sale is made. That bank loans out about 70 cents or more of that money to an entity. The company who deposited the money still has an account with $1 added on it. The entity who got the loan also has $70 that deposits. Cycle repeats.

See how it creates money back into the economy? That created money has interest on it at every recycle step and people pay taxes on it. I'm not very smart but even I understand this.
 Quoting: Anonymous Coward 48929708

Thick dead air.
You're smarter than the tards claiming the Fed Reserve makes the money out of thin air!
 Quoting: Anonymous Coward 49370388