To Save Post Offices, Turn Them Into Public Banks

[annabanana]

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[mmonk]

1. Or stop the sabaotage such as the pre-funding mandate

and all the lies involved in that.

[Enrique]

2. they do it in Israel

http://www.israelpost.co.il/content.nsf/pages/AboutUsE?OpenDocument&L=EN

The Postal Bank: The Postal Bank is the largest retail operation in Israel. The Company's wide deployment of postal outlets and flexible operating hours guarantee convenience for its customers. Advanced computerization and technology, diverse and on-line services, combined with competitive prices and commissions compared to those at the commercial banks have made the Postal Bank popular. The bank also provides bill payments services for the business sector, for government ministries, as well as for the public and private sectors. The Postal Bank offers a range of financial services to its customers: payments and money transfers in Israel and overseas, management of current bank accounts, foreign exchange services, direct deposit salary payments, direct payments to companies, and more.

[Laelth]

3. Interesting.

I was unaware that there was precedent for a move like this in the U.S. Thanks for bringing this to our attention.

k&r

-Laelth

[Zalatix]

4. Somewhere out there a Plutocrat just suffered an angina attack at this idea!!!

Won't somebody think of the poor put-upon rich people!

[zipplewrath]

5. I had sorta wished OWS would have moved in this direction

The momentary effort to encourage people to remove their money from banks, into credit unions made me hopeful that OWS would initiate a flood of these kinds of ideas. The formation of "not-for-profit" entities, especially focused around banking and finacial services. Imagine a not-for-profit debit/credit card that was targeted at the poor. Basically giving them access to the same basic services, while avoiding the predatory practices. Imagine mortgages that were issued after it was determined that you could actually afford the house you were buying, and when you fell on hard times would either renegotiate the terms, or work with you to transition you to something you could afford. Sort of a "Habitat for the rest of Humanity".

We'll get the economy we deserve when we take control of it. Unions could possibly step in here and create the sort of structures that would allow us to use our economic power to our own interests, instead of the 1%. They could become about more than just collective barganing. Heck, how about a chain of not-for-profit big box stores that sold union made/fair trade goods. "Unionmart".

[annabanana]

6. +1 . . . . . . . .n/t

[Marrah_G]

7. This is a perfect solution but out corporate sponsored representitives will never allow it.

[socialist_n_TN]

8. Agree. As a Trot, I believe in nationalizing the big banks

without compensation, but this could be a transitional move that would make sense.

The main reason that the capitalists can't abide even a WHIFF of "socialism" is because they know that they can't compete with "People's Cooperatives". That's why they fought tooth and nail against even a measley public option in the health care debate.

Imagine a People's Bank that didn't worry about profit and was run along the lines of Medicare for All.

[closeupready]

10. bingo bango bongo - you nailed it.

that's exactly why this is not going to happen.

[qb]

9. I like that idea. Then quietly open public health facilities all over the country

and let the market do what it will.