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They decided to create the ebt card, the electronic benefits transfer card. how are these programs administered? they're administered by three companies, two of which are located right here in new york city. one of them is jpmorgan, which has contracts with 26 states and u.s. territories to administer the program and across the street is xerox, which also manages this program. a lot of people recognize and remember that in 2008, jpmorgan was the beneficiary of a bailout because of the wall street prices. but a lot of people don't realize that they also made a lot of money beginning in 2009 bec...

Program? >> i mean, this business is a very important business to jpmorgan. it's an important business in terms of its size and scale. we are the largest processor of food stamps in the country, so we've seen huge increase in volume over the past year or two. >> since 2008, federal government spending on food stamps has doubled. as food stamp rolls expand, so do corporate profits. you might be surprised to learn that a large investment bank like jpmorgan is not only lobbying institutions like the senate banking committee, but also the house and senate agriculture committees as well. why would ...

They decided to create the ebt card, the electronic benefits transfer card. how are these programs administered? they're administered by three companies, two of which are located right here in new york city. one of them is jpmorgan, which has contracts with 26 states and u.s. territories to administer the program and across the street is xerox, which also manages this program. a lot of people recognize and remember that in 2008, jpmorgan was the beneficiary of a bailout because of the wall street prices. but a lot of people don't realize that they also made a lot of money beginning in 2009 bec...

They decided to create the ebt card, the electronic benefits transfer card. how are these programs administered? they're administered by three companies, two of which are located right here in new york city. one of them is jpmorgan, which has contracts with 26 states and u.s. territories to administer the program and across the street is xerox, which also manages this program. a lot of people recognize and remember that in 2008, jpmorgan was the beneficiary of a bailout because of the wall street prices. but a lot of people don't realize that they also made a lot of money beginning in 2009 bec...

Stamp program. that may be why even as the unemployment rate drops, the amount of people on food stamps the last fouro up. years. it's gone up fourfold since 2001. we've not had anything like that increasing the amount of unemployment that would justify such a number. >> so there is a lot of incentive for growing the program. when companies like jpmorgan make money off of every person who signs up for benefits, depending on the state, for administering the program, jpmorgan makes as much as 2.20 per person, per month, for each ebt participant. indeed, large corporations like jpmorgan, have sha...