news, from JPMorgan's perspective, is the infrastructure that we built
has been able to cope with that increase in volume."
This is an exciting "growth area" for JP Morgan. As the middle class
continues to decline, the number of "the working poor
" in America is exploding.
Back in 1980, less than 30%
of all jobs in the United States were low income jobs. Today, more than 40%
all jobs in the United States are low income jobs. This trend is
perfect for JP Morgan because it means that the number of low income
workers that are eligible for food stamps is going to keep increasing.
And what makes all of this even sadder is that JP Morgan has outsourced
many of the customer service jobs for its food stamp program to India.
Yes, you read that correctly.
When Americans that can't find a decent job need help with their food
stamps there is a good chance that they will be talking to a customer
service representative sitting in India.
Isn't that crazy?
When ABC News confronted JP Morgan about this
JP Morgan would not tell ABC which states have customer service calls
sent to India and which states have them handled inside the United
JP Morgan is the only one today still operating
public-assistance call centers overseas. The company refused to say
which states had calls routed to India and which ones had calls stay