We have seen the future, and it sucks.

Illegal Underground Food Stamp Market Thrives Online

15th October 2012

Read it.

Understaffed food stamp fraud prevention units and lax anti-fraud security on Electronic Benefit Transfer (EBT) cards have created a thriving underground market where food stamp recipients illegally sell and trade their taxpayer-funded benefits, often using online websites like Backpage.com, Craigslist, or social media.

That is one of the findings of a new report by the Government Accountability Institute (GAI) examining how the poverty industry has become a massive profit center for politically-connected corporations like JP Morgan, who have made at least $560,492,596 since 2004 to process the EBT cards of food stamp recipients in 24 states and two U.S. territories.

My, what a surprise! Aren’t you surprised? I’m sure surprised.

Markets work, even when you don’t want them to.

2 Responses to “Illegal Underground Food Stamp Market Thrives Online”

  1. Dennis Nagle Says:

    And where there’s a black market, JP Morgan Chase will be right there to launder the money.
    Ethics are a pretty convenience to be jettisoned without hesitation at the first glint of silver.

  2. Tim of Angle Says:

    And they’ll give a portion of their ill-gotten gains to Democrat candidates, as they always do, in hopes of getting some more ‘stimulus’ later. One trotter washes the other.