Food stamp shopping spree, who pays? (WalMart Looting Story Update)

KSLA-TV12 ^ | October 14, 2013 | Fred Childers

[Fee]

Before we slam the EBT cardholders for stealing while the system snafued, we better go after the real crooks who did the same thing. Wall Street Bankers.
When the gov forced bankers to do subprime mortgages Pres Clinton offer to mitigate the risks by having these loans bundled and Freddie Mac/Fannie Mae buy them within six months of underwriting.
Bankers discovered Freddie Mac/Fannie Mae did not review the info on the applications when they purchased them. Bankers flooded this loophole in the federal system and immediately instructed their mortgage agents to encourage liar loans. Income, bank account funds and credit scores were made up so applicants can buy homes they normally cannot afford. The banks earn more fees and points if the loan amounts were larger. Banks could have done the moral thing and stick to their common commercial practice they use to protect themselves, but felt they did not need to do that if the gov (taxpayers) were on the hook, thus the bankers choose to go full steam ahead into the regulatory gap with liar loans.
The rest is history on Sept 2008. Any bankers go to jail??!!! If the poor figure the Harvard and Yale grads CEO do not have to be honest when the gov screws up, why should they?

[abb]

So I can go down to the local Wallyworld, walk out with a $1K 60” big screen, and no one will care?

[Colofornian]

Don't forget that the EBT system is -- in itself -- one GIGANTIC MONTHLY shopping spree paid for by taxpayers...

And some of these EBTholders are already stealing from the taxpayers...so they were just upping their "hold-up" take on this Sat night outing...

[abb]

Thread hijack in progress...

[Tijeras_Slim]

I hate that attitude. I had my own business for a few years, and shoplifters were treated to all manner of unpleasantness. Then I worked for a national chain in the same line of goods and a guy ran out the door with a bunch of stuff, I went after him with a crowbar. About three blocks from the store I looked back and the manager and assistant were running after me... I figured they were reinforcements but no, they grabbed me before I caught the guy.

[DadofMany1]

EBT benefits are reloaded monthly. People may end up with a negative balance on their cards. It’s possible that some people’s next month’s benefits will go to pay off the negative balance on their card. Or not.

[ROCKLOBSTER]

...let the shelves be cleared as quickly as possible, then lock the doors, leaving the lights on so anyone can see there’s nothing left inside. At least that might minimize the damage of vandalism and fire.

Either that, or start shooting the looters and leave the lights on, so other urban-savages could see all the dead-bodies and move along.

[tomkat]

gibmedat yo !

[TigerClaws]

The detention allowed by law is something like 30 minutes. Many places in high crime areas it takes like an hour plus for the cops to show up unless there’s active gunfire.

Unable to detain them, risk of a lawsuit for ‘false imprisonment, stores just let them go. Most will try to get these ‘customers’ to sign “I will not return” agreements they can use against them in the future.

Or they just let the merchandise walk.

Some (where my sister works) will come back with no receipt and demand CASH for the stolen merchandise (store refund).

No end to the brazenness.

People who get everything for nothing have zero respect for the system and resent the people giving to them. It’s human nature. We’re feeding the dysfunction.

[LibLieSlayer]

Maybe they will release that data. I would bet it is not a small amount.

[YHAOS]

"So, isn't this fraud? The state has a way of tracking welfare fraud with GPS based software. DCFS knows who purchased what, and how much was spent. That information is available to be passed on to law enforcement, should it be requested. The information is there, the question is now, what will they do with it?"

You don't understand. These are 0bama voters. They will be protected.

[erlayman]

I agree the amount should be their food stamps should be be garnished to pay off this debt. If there is a nationwide boycott to protest prosecuting theft Walmart is going to lose just as much if not more in the way of reputation and honest customers. Where else are these parasites going to go anyway ?

[cripplecreek]

My sister told me about 1 guy they did prosecute after he stole nearly $100,000 worth of goods over a period of time. He counter-sued Walmart for tempting him.

Walmart won after spending better than a half million dollars but their insurer made Walmart utilize greater security on a whole bunch of different products.

[slumber1]

The GLITCH was in the food stamp program. Why would the retailers be responsible.???

Because it was the retailer who made the decision to accept the cards knowing the balance could not be verified. They could have simply suspended acceptance of the cards until the problem was resolved. Walmart was trying to do the right thing for their customers, many of whom use the EBT card. The thing they didn't count on was social media. Within minutes of the decision the store was overrun by friends and relatives of those already in line.

[abb]

Within minutes of the decision the store was overrun by friends and relatives of those already in line.

The proper term is "looting."

[EDINVA]

A post earlier said that without EBT cards, there wouldn’t be so many WalMarts. If that’s true, then WalMart will have to just swallow the loss and move on. If it’s not quite true, then in absorbing the loss, WalMart could just decide that it will no longer accept the EBT cards.

[wrencher]

SNAP should not be good for anything much more than beans, rice, and a bit of cooking oil. Want meat? Get a job.

[Excellence]

That’s actually a good idea. Make people swipe the card before starting so they can stop when the reach the end.

[Chode]

somebody posted the same rant at the dump on a similar thread... just saying

[hadaclueonce]

They vote.

Some twice.

Did you vote?