JP Morgan Chase became the Commonwealth’s bank. As the state’s official depository, JP now receives all deposits, writes all checks and makes all wire transfers on the $12-15 billion that flow through Kentucky state government in the course of a fiscal year. It will cut payroll checks, receive federal and other funds earmarked for the state, and disburse educational or transportation or any other funds to their appropriate monetary endpoints. For its trouble, the bank will receive $1.3 million in state fees and the ability to re-lend idle state funds out to customers for private gain.
They already own the national government through the Fed, now they are devouring the States. Here they get to use Kentucky's "idle state funds" for their own profit.
Once again I yield the floor to Mr. Carlin.
THEY OWN YOU!
I hope they enjoy the Bergoo.
http://www.alternet.org/story/151917/how_jp_morgan_took_over_all_kentucky%27s_financial_services%2C_and_why_you_should_be_scared?akid=7367.77792._7Ts_Y&rd=1&t=3
