Remember back in the day when we bailed JP's ass out of hock with $25 billion dollars in tarp funds? Well, they paid it back in a jiffy, gave all their fat cats giant, porcine bonuses and is now onward and upward, sniffing around for more of the hoi polloi to exploit! Watch this enlightening segment describing how JP Morgan makes money off the people who can't afford to buy food--and how nifty that's going to be for the company as more and more people join the ranks of the unemployed and spiral into poverty.

Food stamps and other service programs have apparently evolved from what used to be a paper transaction into a "debit card" transaction. Plastic. And it gets even better, folks. JP Morgan profits from all kinds of programs that people turn to for help when they find themselves in compromised situations. The company also provides child support debit cards in 15 states and unemployment insurance benefit debit cards in seven states. JP Morgan plastic cards and attendant processing fees are zipping through machines at checkout counters everywhere, it would seem. And each time an unemployed or hungry person or young mom who's keeping her fingers crossed that her ex has deposited enough child support money this month into that special account takes out their card and gives it a swipe, JP Morgan Chase makes money. Ca-ching!!

And here's a little cherry on top:

According to The Democratic Underground:

Apparently states have found that they can save millions of dollars by "outsourcing" the provision of these benefits to big financial firms like JP Morgan. 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.



Now, there's a surprise! JP Morgan is saving itself and its investors some real coin by "outsourcing" food stamp customer service calls to India. So when your card isn't working right or trips some kind of hitch at the checkout counter and people are lining up behind you wondering what the hold-up is--you're told to call the number on the back of the card--and when you do, you get someone in India who "would be very, very happy to help you today."

I think I need to get to Madison this weekend.