Redback911 Report post Posted January 21, 2011 Wow, you really cannot make this up. Is there are UK equivalent of food-stamps, who manages/processes them? Surely if a private organisation that borrowed billions from taxpayers, then profits from poverty, is totally immoral... "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." The more Americans that go on food stamps the more money JP Morgan makes. Article These financial institutions wield far too much power. History will show that Governments failed to control these hydra's. Quote Share this post Link to post Share on other sites
leicestersq Report post Posted January 21, 2011 Wow, you really cannot make this up. Is there are UK equivalent of food-stamps, who manages/processes them? Surely if a private organisation that borrowed billions from taxpayers, then profits from poverty, is totally immoral... "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." The more Americans that go on food stamps the more money JP Morgan makes. Article These financial institutions wield far too much power. History will show that Governments failed to control these hydra's. Our system is much better. We have a bloated government organisation that hands out a supplement to the working wage called benefits, that are normally paid to your bank account. They rigorously weed out those who are not entitled to benefits by only approving claims that are sent to them. Quote Share this post Link to post Share on other sites
interestrateripoff Report post Posted January 21, 2011 Have they hedged for this as well? You've got to love the parasites. No matter what happens they get to make money. Quote Share this post Link to post Share on other sites
Peter Hun Report post Posted January 21, 2011 Have they hedged for this as well? You've got to love the parasites. No matter what happens they get to make money. Whats the problem? they process the food stamp credit card payments. Quote Share this post Link to post Share on other sites
leicestersq Report post Posted January 21, 2011 Have they hedged for this as well? You've got to love the parasites. No matter what happens they get to make money. The numbers in the US are so massive, that I wonder about the figures. They indicate to me that there is a huge amount of fraud going on somewhere with food stamps. I know lots of people really need them, dont get me wrong on that. But something doesnt seem quite right. Quote Share this post Link to post Share on other sites
Democorruptcy Report post Posted January 21, 2011 JP Morgan use our friends in India: 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? Quote Share this post Link to post Share on other sites
billybong Report post Posted January 21, 2011 (edited) They might be worth more than dollars soon. Mind you it's not that unlike the EuroBillions of crazy money being counterfeited by the government in Ireland to try to help make ends meet except in the US it's private. Both government and private entities caused the problem and profited by it. Edited January 21, 2011 by billybong Quote Share this post Link to post Share on other sites
billybong Report post Posted January 21, 2011 Then there's 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. Quote Share this post Link to post Share on other sites
interestrateripoff Report post Posted January 21, 2011 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. Too surreal when does Alice arrive? Quote Share this post Link to post Share on other sites
leicestersq Report post Posted January 21, 2011 They might be worth more than dollars soon. Mind you it's not that unlike the EuroBillions of crazy money being counterfeited by the government in Ireland to try to help make ends meet except in the US it's private. Both government and private entities caused the problem and profited by it. billybong, alas food stamps are just like a credit card, except you can only spend what is on the card at certain foodstores, up to the amount on there, and that is denominated in dollars. They get charged up once a month, at midnight, and there are often long queues of hungry people outside open Walmarts, waiting to go in when their cards once again have spending power. Quote Share this post Link to post Share on other sites
Bloo Loo Report post Posted January 21, 2011 did you want spicy or extra spicey food stamps sir? still, licking stamps used to be awful on the tongue. didnt realise you could live that way. Quote Share this post Link to post Share on other sites
billybong Report post Posted January 21, 2011 billybong, alas food stamps are just like a credit card, except you can only spend what is on the card at certain foodstores, up to the amount on there, and that is denominated in dollars. They get charged up once a month, at midnight, and there are often long queues of hungry people outside open Walmarts, waiting to go in when their cards once again have spending power. Thanks for clarifying that. It sounds like the old description for the paper vouchers i.e. food stamps has just been kept on for describing the credit card - at least by some journalists. Apparently it's now the EBT Card (Electronic Benefit Card) to enable SNAP (Supplemental Nutrition Assistance Program) and about 40 million get them at an average of about $1600 per year. Quote Share this post Link to post Share on other sites
jonb Report post Posted January 21, 2011 Wow, you really cannot make this up. Is there are UK equivalent of food-stamps, who manages/processes them? Surely if a private organisation that borrowed billions from taxpayers, then profits from poverty, is totally immoral... "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." The more Americans that go on food stamps the more money JP Morgan makes. Article These financial institutions wield far too much power. History will show that Governments failed to control these hydra's. The Giro system is owned by Banco Santander. Quote Share this post Link to post Share on other sites
