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Food Stamps!!! Guess who controls thems and makes big money from them?

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  • Fri, Jan 15, 2010 - 11:03pm

    #1
    John99

    John99

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    Food Stamps!!! Guess who controls thems and makes big money from them?

I had assumed the government issued food stamps – wrong!

1 in 8 Americans – 1 in 4 children need them, and they are big business for our friends at J. P. Morgan

Max Keiser discussion
http://www.youtube.com/watch?v=eYRG9f5F4gw

Bloomberg Interview of J.P. Morgan dude
http://www.youtube.com/watch?v=Gl6sPabt9Fw

  • Sat, Jan 16, 2010 - 02:41pm

    #2
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Food Stamps!!! Guess who controls thems and makes big …

Amazing.  Does anyone know HOW this works?  How does JPM make $ off this?  

  • Sat, Jan 16, 2010 - 11:42pm

    #3
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Food Stamps!!! Guess who controls thems and makes big …

LR,

The implication from Kaiser is that they make big money from food stamps, but I have no details.

  • Sun, Jan 17, 2010 - 03:58pm

    #4
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Food Stamps!!! Guess who controls thems and makes big …

Agreed. The assertion seems to be “because JP Morgan issues the cards, they are making huge profits” 

There isn’t enough information to follow the money. 

If food stamp money comes from the pool the government money (ie our tax money, etc), they use that money to purchase the cards. Example: let’s say the card is for $100. Then the government would pay JP Morgan the $100 plus the cost of making the card. Unless we have something similar to $15,000 hammers here – which they haven’t provided any evidence for.

I also find the comment about prisoner shoveling snow in Washington interesting, called it “slave labor” What do they think prisoners should be doing? Sitting around watching TV? Going to law school on taxpayer money? Oh, wait….

The first clip a very rambling discussion with no data to back up any of the claims made. I would be interested in hearing someone make the case by a logical argument backed up by facts and data. 

It makes more sense to me to say that Walmart is profiting from food stamps as people spend them there and as they decided to start accepting food stamps at Costco. 

And, I have to ask, why is profit bad? 

  • Tue, Jan 04, 2011 - 11:09am

    #5
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Food Stamps!!! Guess who controls thems and makes big …

Food stamps revenue,,,, expanding right now,,, as only JP guys are administrating 25 states in US,,, I am pretty amazed by the food stamp debit transactional involvement,,, but I wonder how I can get the full benefit from that I mean,, I send mails to my client via automated franking machines, every time I use stamp,,, is there any way I can augment some change in device to stream line my food stamp revenue,,, Any veteran help is all needed,,, I mean Billions of dollars are involved,,, Crap! OR am I sound cheesy???

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