We have seen the future, and it sucks.

Report: JP Morgan Makes Over Half a Billion Dollars Off Food Stamps

2nd October 2012

Read it.

Perhaps I need a new category: Why Big Business Is Perfectly Comfortable In Bed With Big Government.

While some may be glad that a private company—not a government agency—is tasked with EBT transactions, the GAI report reveals that JP Morgan does not use the same fraud detection systems commonly used by today’s credit card companies.  In fact, federal and state agencies—not EBT processors—are the ones tasked with policing food stamp fraud.

And why would they care? It’s just ‘government money’; they get their cut, whatever happens.

Comments are closed.