Making Fortune on Poverty: JP Morgan's Big Food Stamp Business

While most Americans are struggling hard to overcome the hardships of the recession, the profits of national banks continue to rise. JP Morgan is among those cashing-in ... and it's a contract to process food stamp payments that's helping it on its way. RT's Maria Portnaya found out how the rich benefit off the back of the poor.

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[AngeliqueEU]

But this is NOT Socialism!!!

This is pure "greedy" Capatalism ... by BIG companies even wanting to make more money over the backs of the 'normal working' people ...

so I think we could call it the fault of Corporatism .. or something like that.

NOT Socialism for SURE what is happening now!!!

[tdot22]

This is why there is a war on Islam, becaus in Islam money is supposed to be based on gold, and no one is supposed to get rich by exploiting their control on money.. In Islam you can only get rich by investing, or working not exxploiting... we are the last remaining enemy of the bankers that want to rule the world.

[Jack Againski]

This was good vid until they put this commie shill Michael Prysner on at the end. Banksters like JP Morgan and Goldman Sachs don't care about party lines....they control the Democrats too....like their puppet Obama.

And the Tea Party is not in support of these banksters. This commie clown needs to shut his stupid piehole...

[Dee Mann]

SICKENING ! ARREST THEM ALL !!!!

[tenhirankei]

This is a privitized system making a profit, so therefore you hate it. Would you prefer a government-run system paid for with tax money? Those are the choices, so deal with it and quit whining!

[Ryan II]

IT IS NOT Pure Capitalism. This is a system setup by Government and then awarded to private firms. It's a bad relationship best described as Corporatocracy, Corporatism, Fascism and Cronyism. NOT Capitalism for Free Markets.

[aikanae1]

So Indiana pays JP Morgan $150k that could go for food or housing to those in need - and ships jobs overseas so their bosses can earn 500% more than the average worker (those still working). They don't contribute nothing - they rob all they can. P.S. Iceland jailed their bankers and the economy is booming.

[RonPaulSwede]

@AngeliqueEU This is politicians and companies working together, thats fascism.

[koenhouse]

That food stamps card is like a credit card.  jp morgan charge processing fees off every purchase/transaction. jp morgan make money out of that. jp morgan is GREEDY. I think people should stop banking with jp morgan.

[1scott1960]

This is the stupidest video I've seen in a while. Do any of you want our "extremely efficent" government to process these payments? Should JP Morgan do it for free? Should you work for free? Doen't anyone realize we have outpriced ourselves? Your employer pays an additional 30% of your weekly check for all the matching taxes, unemployment tax, disability tax and then state taxes in those states that have a state tax. It amounts to 30% or above.

[SelfMadeMBS]

Can someone tell me howI wonder JP Morgan making money off of the food stamps and welfare. They just said that when she swipes her card they get a profit. And did they always control that industry or did they looby to help set in law for them to get that?

[ZenobiaPalmyrene]

Because JP Morgan (and others) handle the ECB machines; they make money off a government program (SNAP -- "Food Stamps" -- No longer are there coupons)

JP Morgan also prints the USA's money; because it's the Federal Reserve Bank (yes the "US Fed." is private) For every dollar they print; the govt accrues a profit.