ModernityBlog

“Nearly all men can stand adversity, but if you want to test a man’s character, give him power.” Abraham Lincoln

Archive for January 25th, 2011

37 Million Americans And JP Morgan.

with 15 comments

JP Morgan are making big profits as Americans become poorer and unemployed:

“Take Indiana. JP Morgan gets 62 to 64 cents for each food stamp case handled monthly there. With 296,245 cases right now, that means the state is paying JP Morgan $183,672 a month on top of any other fees it collects.”

The Economic Collapse has more:

“JP Morgan is the largest processor of food stamp benefits in the United States. JP Morgan has contracted to provide food stamp debit cards in 26 U.S. states and the District of Columbia. JP Morgan is paid for each case that it handles, so that means that the more Americans that go on food stamps, the more profits JP Morgan makes. Yes, you read that correctly. When the number of Americans on food stamps goes up, JP Morgan makes more money. In the video posted below, JP Morgan executive Christopher Paton admits that this is “a very important business to JP Morgan” and that it is doing very well. Considering the fact that the number of Americans on food stamps has exploded from 26 million in 2007 to 43 million today, one can only imagine how much JP Morgan’s profits in this area have soared. But doesn’t this give JP Morgan an incentive to keep the number of Americans enrolled in the food stamp program as high as possible?”

(H/T: Andrew Murphy)

Written by modernityblog

25/01/2011 at 23:38

The EDL’s Tommy Robinson on Newsnight, Almost.

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Enjoy!

(H/T: HOPE, not hate)

Written by modernityblog

25/01/2011 at 16:25

A Pompous Ass.

with 16 comments

Coming back after a few days away is refreshing, if only to see how others view matters.

I particularly appreciated Owen’s comment in this thread, as it seems to sum things up nicely:

“Owen 24/01/2011 at 15:25

What a pompous ass David Gibbs comes across as.

I asked him three questions, not unreasonable questions, in order to try and determine the substance of his position in relation to Srebrenica.

But he doesn’t choose to clarify.

Nor does he choose to deal with the criticism of his observation that the origins of the genocidal massacre at Srebrenica lay in the raids conducted by the defenders of the besieged enclave and not in the Strategic Objectives of the Bosnian Serb Assembly.

A historian so picky and choosy that he reserves the favour of his disclosing his position to the followers of Louis Proyect is hardly demonstrating a determined commitment to the public justification of his opinions.

When it comes to defending his take on historical events in the public forum the tenured professor has a lesson or two to learn from Marko Hoare’s robust willingness to face the music.” [My emphasis.]

I should remind readers that Dr. Hoare has produced another wide ranging critique, First Check Their Sources 3: The myth that ‘Germany encouraged Croatia to secede from Yugoslavia’.