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Thursday, June 21, 2012

How JP Morgan Makes Hundreds Of Millions Of Dollars On Food Assistance Programs

How did J.P. Morgan Chase end up with such sweet deals in so many states? Lobbying, of course. The company lobbied USDA in 2011 specifically on EBTs and in 2008, the last time the Farm Bill was renewed, it lobbied both the House and Senate on five different provisions of the farm bill. Who else administers EBTs? Northrop Grumman, better known as a defense contractor, oddly has multimillion dollar contracts with Montana and Illinois. Affiliated Computer Services (a Xerox subsidiary) runs 13 state systems and Fidelity National Information Services has another 11.
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Judy Morris,
Blogger, THL
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