WE NEED MORE POOR, INSECURE AMERICANS!: SAVVY HUSTLERS, MEMBERS US HOUSE, SENATE, US CONGRESS, ET AL

Profiting from Food Stamps, Student Loans, Unemployment: Wall Street, US Congress, Obama Cash-in, Thursday, 18. July 2013

Rockefeller-Obama Nest Eggs Turn Gold!

 “Despite being the richest country in the world, poverty remains an important social issue in the United States. All too often poverty in America is used as a political weapon by both political parties to galvanize their voting base. What is lost in the midst of such politicking is the crony connection of corporations that have positioned themselves to profit from poverty. The welfare programs we use to attempt to alleviate poverty actually play directly into the plans of companies that lobby on behalf of legislation lauded as anti-poverty programs. Rather than overcoming poverty, these programs line the pockets of their promoters. Such crony connections must end.”

Government Accountability Institute

... Members of the US House and Senate are savvy hustlers, particularly when they are able to rig the system so that corporations can corner markets, reap profits and increase share value. It is a wonderfully devious and perfectly legal system for the rich to get richer and the middling senator or representative to join the ranks of the rich. The Center for Responsive Politics, a must visit for anyone wishing to understand how the US political really works, lists the investment portfolios of many in the US Congress. But for an excellent case study in cronyism, we turn back to the Profits of Poverty report and the tidy relationship between JP Morgan, Congress and the White House.

“Unfortunately, the crony connections do not stop with congressional lobbying. Several members of Congress and the executive branch have significant investments in JP Morgan stock. President Obama has up to $1 million in a private client asset checking account. In 2010, then White House Chief of Staff William M. Daley also had invested up to $5 million with JP Morgan. In 2007, West Virginia Senator Jay Rockefeller had over $50 million with the bank. Increasing profits for JP Morgan in turn means increasing returns for investors. EBT card systems were guaranteed expansion on December 13, 2010, when President Obama signed the Healthy, Hunger-Free Kids Act. This legislation requires all states to develop and implement the use of EBT cards for the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC) by October 1, 2020. According to the most recent participation data released by the USDA’s Food and Nutrition Service, WIC served 8.9 million consumers in FY 2011, which means that EBT card providers are looking at many new customers thanks to the legislation. The expansion of the EBT program did not happen in a vacuum. In fact, JP Morgan was lobbying on issues related to the use of EBT cards in the WIC program during 2009, months before the Healthy-Hunger-Free Kids Act was introduced in the Senate.”

- See more at: - See more at: http://www.boilingfrogspost.com/2013/07/18/profiting-from-food-stamps-student-loans-unemployment-wall-street-us-congress-obama-cash-in/#more-22623