2016 Postmortem
Related: About this forumBernie wants to Turn Post Offices Into Banks. What would Hillary do?
The Democratic chair, Debbie Wasserman Schultz, who is also a supporter of Hillary Clinton, prefers laws to protect pay day loan companies. Bernie prefers expanding postal services to include some banking functions.
What would Hillary Clinton do?
JOE PINSKER OCT 20, 2015
They're much less crazy than payday-lending services, and the rest of the world agrees.
In an interview with Fusions Felix Salmon the day after last weeks Democratic debate and published Tuesday, Senator Bernie Sanders discussed the marquee features of democratic socialism hes been tirelessly calling for during his presidential campaign: higher taxes for the wealthiest Americans, an increased minimum wage, and breaking up the biggest Wall Street banks.
Salmon also raised a possibility that has not been as prominent in Sanderss stump speeches, but animates him nonetheless: turning the U.S.s post offices into banks. Sanders:
If you are a low-income person, it is, depending upon where you live, very difficult to find normal banking. Banks dont want you. And what people are forced to do is go to payday lenders who charge outrageously high interest rates. You go to check-cashing places, which rip you off. And, yes, I think that the postal service, in fact, can play an important role in providing modest types of banking service to folks who need it.
~Snip~
In fact, Sanderss idea is quite sensible. Postal bankingwhich just means that post offices run savings accounts, cash checks, and perform other basic financial servicesis common in most of Asia and Europe, and only about 7 percent of the worlds national postal systems dont offer some bank-like services. Postal banking is a really good way to reach people who havent had access to standard savings accounts. One estimate figures that more than 1 billion people have used post offices for making deposits....
Read more:
http://www.theatlantic.com/business/archive/2015/10/bernie-sanders-lets-turn-post-offices-into-banks/411589/
onehandle
(51,122 posts)You left out a couple of words or so.
think
(11,641 posts)Cheese Sandwich
(9,086 posts)They don't want us. They like us. They don't have any respect for our legitimate concerns about the future of our country.
Marengo
(3,477 posts)hollysmom
(5,946 posts)the check cashering buisnesses the new democrats, only support the rich
Look this idea is partially in place now with postal money orders, I use them because people will accept them over checks. expanding the services a little would make the world of difference to someone without a stable address, but if you are happy with people in poverty sinking lower, well that seems to be the new democratic party under D W-S, good luck.
lots of countries do this, but not us. lets not rebuild the democratic party to make it represent the people, we know D W-S said that it wants to support the elites. Progressives, who needs them, kick them out of the party.
stillwaiting
(3,795 posts)think
(11,641 posts)VulgarPoet
(2,872 posts)JustAnotherGen
(31,828 posts)https://www.govtrack.us/congress/bills/113/hr5179/text
2d Session
H. R. 5179
IN THE HOUSE OF REPRESENTATIVES
July 23, 2014
Mr. Richmond (for himself, Mrs. Kirkpatrick, Ms. Kaptur, Ms. Lee of California, and Ms. Linda T. Sánchez of California) introduced the following bill; which was referred to the Committee on Oversight and Government Reform
A BILL
To amend title 39, United States Code, to provide that the United States Postal Service may provide certain basic financial services, and for other purposes.
Congress.gov web site
https://www.congress.gov/bill/113th-congress/house-bill/5179
First posted at Democratic Underground in October of last year - Fairly lengthy thread with discussion:
http://www.democraticunderground.com/1251706547
Again - in all of this talk I'm sitting here saying talk is cheap. It could have already been done IF there was not a little block called the Republican Party - who will most likely have control of the House until 2022. So let's get our expectations set straight because we aren't 'taking back the House' this year, in 2018, or 2020. It's not happening. They gerry mandered the fuck out of America after the 'base' sat their asses at home whining over bullshit - and thus the Republicans set the rules for a decade.
Do I think the House Bill Mr. Richmond from Louisiana introduced is a fantastic idea?
You betcha.
But it's not happening- it makes sense, it's logical, it would help people and Republicans will do anything and everything they can to inflict pain on human beings not just in America, but around the world. It's what they do.
Sanders or Clinton it doesn't matter - they won't budge.
think
(11,641 posts)JustAnotherGen
(31,828 posts)I couldn't find anything on it from his time in the Senate.
But - then again he 'knows' this Congress and what piece of shit used car salesmen they are. Fucking assholes who hate America.
think
(11,641 posts)JustAnotherGen
(31,828 posts)So I'm not going to knock him down. I'm not an Indie or Republican and I voted for him twice. I'm thrilled that my dad got to see a black man as President before he died and he's a symbol of pride to me.
You want to knock down Clinton, Trump, Sanders, Cruz, or Kasich - go right ahead. They aren't my President - He is.
think
(11,641 posts)American people are making progress due in part to Obama's leadership on the issue.
America needs and deserves strong bold leadership.
Obama is the reason I support single payer. I never even thought about single payer until I heard about it in a speech from Obama.
It was Obama's effort to communicate a better idea that made me a strong supporter of that issue. An issue I never even considered until he mentioned it.
CentralCoaster
(1,163 posts)Because there are a lot of untapped opportunities here.
Food deserts already exist throughout our poorest neighborhoods, while Whole Foods only go into affluent neighborhoods.
While we drive up obesity and diabetes numbers to the delight of private health industry investors, why not integrate growth in the debt services?
That's how a Clinton thinks, and that's what will happen.
jwirr
(39,215 posts)can save us money.
politicaljunkie41910
(3,335 posts)Anyone who's ever been to the Post Office and spent a long time in line waiting for stamps or to mail a package knows what I'm talking about. You have 6 windows and 2 of them open, and everyone complaining. Now throw into that mix, you now have to provide banking duties on top of that. Talk about a recipe for disaster.
Let me just say that I have worked as cashier at military bases overseas when I was in the military. I also worked for DoD as an Auditor once I left the military. Working around cash is a whole nother animal. Believe me. Back in the day, we only cashed checks, (Paychecks and Personal checks) and sold foreign currency. First of all, anyone handling cash has to be bonded. Then you have to have secure facility, meaning now every Post Office would essentially become a Vault. Then you have to arrange for cash to be picked up and delivered regularly, because your stock constantly needs to be replenished. You then also have to have security for the facility. My daughter also worked in a bank and was an Asst. Branch Manager, and banks even in this day and age get robbed often. When you're only worry about selling stamps and filling out paperwork for packages people want to send across the nation, no problem. As soon as you throw in the mix, opening accounts, cashing checks, verifying that checks are good through the Treasury clearing houses, selling Money Orders, and the mix, by people who are generally low skilled employees (nothing personal, just being realistic) you can expect to run into lots of new problems I'm sure Bernie hasn't though through and it will be more costly, and less productive.
stillwaiting
(3,795 posts)jeff47
(26,549 posts)Neoliberals gotta neoliberal.
raging moderate
(4,305 posts)It worked VERY well. They were forced to stop because of actions by people who are hostile to the United States Post Office and would like to see it fail. The same sort of people have forced the Post Office to assume an outlandish burden in their pension fund. And there are rumors that these groups had other hidden motives for this little maneuver.
think
(11,641 posts)demwing
(16,916 posts)#toobigtomail