- Electronic deposits up to $1,200 per tax filer should be mailed this month.
- Stimulus checks for those without direct deposit will take much longer.
- Banks are intentionally delaying the entire process.
You want your stimulus check. Bankers are already fighting for their part of it. If it takes conflict to make a good story, the banker part will get your attention; but first you should review the basics of what you have coming and when.
Bankers tried to grab your money
In a brazen display of shameless bankster greed, JPMorgan economist Jim Glassman wrote the following “Memo to Congress:”
Subject: Don’t send checks to workers. It is inefficient.
What to do instead? Use the banking system to channel funds to the business community…. Banks would tell the businesses that the only way they would get the money is if they continue to pay their existing workforce…. Under this plan, U.S. Treasury Secretary Steven Mnuchin will tell the banks “we’ve got your back” and will funnel stimulus money to the firms.…
As a typical big banker, Glassman believes banks can serve the little people better than they can serve themselves, so he implored Congress not to give money from the stimulus program directly to the people where it might be wasted.
No bailout should happen without a banker to make sure it’s done right. It’s more important the government has the backs of the banks. (Because that’s where the bacon is, I guess.) First to the rich, then to the rest as bacon fat trickles down.
Glassman said sending $1,000 to workers at restaurants and gyms won’t help the workers or the business.
If you send it to the little people first, they might squander it on things like food. You need to, first, squeeze the wine out of the government grapes, then let it age as long as possible in a bank cellar somewhere. Fermented money goes down better … if you work at a Wall Street address.
Glassman, who clearly wants his glass all the way full, even had the gall to argue…