"There is danger from all men. The only maxim of a free government ought to be to trust no man living with
power to endanger the public liberty." - - - - John Adams

Tuesday, April 30, 2013

More illegals = more profit for J.P. Morgan

Corruptus In Extremis
Corporate America loves immigration "reform" because they profit off each new low income immigrant who sucks on the public teat.  To that end, businesses bribe politicians with an endless stream of corrupt campaign cash.

Recently uncovered documents prove that the Obama administration has been working with the Mexican government to increase the number of illegal immigrants on food stamps, and when more illegal immigrants go on food stamps JP Morgan makes more money.

JP Morgan has made at least 560 million dollars processing Electronic Benefits Transfer cards. Each month, JP Morgan makes between $.31 and $2.30 for every single person on food stamps (and that does not even include things like ATM fees, etc). So JP Morgan has a vested interest in seeing poverty grow and the number of people on food stamps increase.

Meanwhile, the Obama administration has been aggressively seeking to expand participation in the food stamp program. Under Obama, the number of people on food stamps has grown from 32 million to more than 47 million. And even though poverty in America is absolutely exploding, that apparently is not good enough for the Obama administration.

It has now come out that the U.S. Department of Agriculture has provided the Mexican government with literature that actively encourages illegal immigrants to enroll in food stamps reports Infowars News.

One flyer contains the following statement in Spanish: “You need not divulge information regarding your immigration status in seeking this benefit for your children.” The bold and the underlining are in the original document in case you were wondering. Overall, federal spending on food stamps increased from 18 billion dollars in 2000 to 85 billion dollars in 2012, and at this point one out of every five U.S. households in now enrolled in the food stamp program. When people illegally or fraudulently enroll in the food stamp program, it makes it harder for those that desperately need the help to be able to get it.

It is certainly a good thing to help fellow Americans that are suffering. It is a crying shame that more than a million public school students in America are homeless. That should not be happening in the “wealthiest nation on earth”.

But today we have a system that has turned poverty into big business. According to an article posted on Breitbart.com, JP Morgan has made at least 560 million dollars (and probably much more) processing EBT cards…
A new report by the Government Accountability Institute finds that JP Morgan has made at least $560,492,596 since 2004 processing the Electronic Benefits Transfer (EBT) cards of 18 of the 24 states it has under contract for the food stamp program.

A Daily Beast article provided some more specifics about the monster profits that JP Morgan is making…
Just how lucrative JP Morgan’s EBT state contracts are is hard to say, because total national data on EBT contracts are not reported. But thanks to a combination of public-records requests and contracts that are available online, here’s what we do know: 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 JP Morgan $90,351,202.22. Pennsylvania’s seven-year contract totaled $112,541,823.27. New York’s seven-year contract totaled $126,394,917.

These contracts are transactional contracts, meaning they are amendable based on changes in program participation. Each month, the three companies that administer EBT receive a small fee that can range from $.31 to $2.30 (or higher depending upon the number of welfare services on an EBT card and state contractual requirements) for each SNAP recipient.
So the more people that are out of work and that need to turn to the government for food, the bigger profits that JP Morgan makes.

What makes all of this even more insulting is that many of the jobs that JP Morgan could be providing to Americans to help alleviate this poverty are being shipped overseas instead. As I noted in a previous article, many EBT card customer service calls are being routed to call centers in India by JP Morgan.

Sucking on the Public Teat.
Everyone from illegals to multi-national corporations are furiously sucking
on the Marxist re-distribution of wealth teat.


JPMorgan Chase & Co: All Recipients
Bribing both Democrats and Republicans to make sure that the corrupt flow 
of sweet, sweet tax money keeps coming.

Among Federal Candidates, 2012 Cycle

Total: $3,018,916
Source of Funds:
Party Split:

Individuals PACs Dems Repubs

Select Cycle:

NameOfficeTotal Contributions
Romney, Mitt (R)Pres $834,096
Obama, Barack (D)Pres $297,559
Warner, Mark (D-VA)Senate $81,650
Brown, Scott (R-MA)Senate $69,700
Corker, Bob (R-TN)Senate $59,750
McConnell, Mitch (R-KY)Senate $59,500
Tester, Jon (D-MT)Senate $51,000
Carper, Tom (D-DE)Senate $43,200
Boehner, John (R-OH)House $33,750
Leppert, Thomas C (R-TX)Senate $32,250
Murphy, Christopher S (D-CT)House $32,000
Stabenow, Debbie (D-MI)Senate $31,080
Gillibrand, Kirsten (D-NY)Senate $29,850
Kaine, Tim (D-VA)Senate $28,750
Perry, Rick (R)Pres $24,550
Dold, Robert (R-IL)House $23,500
Obsitnik, Steve (R-CT)House $20,000
Himes, Jim (D-CT)House $19,000
Hatch, Orrin G (R-UT)Senate $17,500
Mandel, Josh (R-OH)Senate $15,240
Pawlenty, Tim (R)Pres $14,550
Hayworth, Nan (R-NY)House $13,250
Bachus, Spencer (R-AL)House $13,000
McHenry, Patrick (R-NC)House $13,000
Royce, Ed (R-CA)House $13,000
Stivers, Steve (R-OH)House $12,550
Delaney, John K (D-MD)House $12,500
Garrett, Scott (R-NJ)House $12,500
Sessions, Pete (R-TX)House $12,300
Feinstein, Dianne (D-CA)Senate $12,000
Hoyer, Steny H (D-MD)House $12,000
Ryan, Paul (R-WI)House $12,000
Paul, Ron (R-TX)House $11,980
McCarthy, Carolyn (D-NY)House $11,750
Bishop, Timothy H (D-NY)House $11,650
McMahon, Linda (R-CT)Senate $11,231
Biggert, Judy (R-IL)House $11,150
Bennet, Michael F (D-CO)Senate $11,000
Carney, John (D-DE)House $11,000

For the full list go to Open Secrets.org

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