JP Morgan “Rigs” Food Stamps Too!

Christopher Paton, who runs JPMorgan Chase & Co.’s public-sector benefit payments business, talks with Bloomberg’s Margaret Brennan about trends in food-stamp use in the U.S.

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Continue at JPMorgan’s Paton Sees `Huge’ Increase in Food Stamp Use: Video
YouTube (08 Jan 10)

Pretty cool idea to make money managing the poverty that you made money creating! You can finance your operation with trillion dollar bailouts while you outsource the jobs to your operations in India on the theory that it saves the government money, while the number of long term unemployment claims rise over 5 million and the unemployment rate rises above 10% (government)/20% (

My proposal? State and local governments should take legal and financial control of the food stamp program funded with a permanent reduction in federal taxes and source a significantly greater portion of the food and services closer to home.

Score this as one of many of the 10th Amendment issues coming to a head in 2010.

To understand the big picture on unemployment and the centralization of agriculture, Sir James Goldsmith’s 1994 interview is a must watch! I have republished at the top of the blog in response to a reader’s suggestion.