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View Diary: JP Morgan Rakes in Profits from U. S. Food Stamp Program (123 comments)

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  •  Well, it would mean that it's unlikely (3+ / 0-)

    political subdivisions have the ability to do it, which would mean outsourcing is a reasonable option.  

    •  what are "political subdivisions"? (2+ / 0-)
      Recommended by:
      walkshills, EsperanzaCambia

      thought you meant governmental departments above, but now I think I'm missing something.

      •  I was just trying to use a term to capture (2+ / 0-)
        Recommended by:
        walkshills, EsperanzaCambia

        the different layers of government that contract the services out.  I assume it's done by state governments, but I wasn't sure so I went with a broad term that just means "governments."

        •  But that really misses the point, that (3+ / 0-)
          Recommended by:
          Angie in WA State, kurt, aliasalias

          work which was done by US citizens as government employees, is now done -- for a fee -- by corporate computers and all centers in Asia.

          What this does is set up a scenario where the banks profit if the economy is good, and profit more if the economy is bad. For US workers, it's like the bank saying "Tails I win, heads you lose."

          •  There is certainly a point there, (0+ / 0-)

            but we let that one get away nearly two decades ago with a Democrat (sp. intentional) President who couldn't get enough Free Trade.
            The unstated, and misleading, point of the diary is that JPM is making a profit from Food Stamp transactions, as if the profit were coming from the Food Stamp recipients or the federal government. (I'll be the first to concede that merchants may and do jack up their prices to cover processing costs, but they'd do that no matter who, or where the call centers were located) Perhaps the diarist did not intend to be misleading about that, although the story loses a lot of its sensationalism value without it, so I think I'll just put this one somewhere between low understanding and red herring.

            Baja Arizona Libre!

            by DaNang65 on Sat Feb 19, 2011 at 06:55:13 PM PST

            [ Parent ]

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