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The Angry Demagogue's avatar

For the progressive movement your entire last paragraph is a feature, not a bug.

As for the Postal Bank - Israel still has one. Of course no one actually deposits anything in it except for foreign guest workers who have no choice but to use it. The Postal Bank charges them exorbitant fees when they want to move money to their home countries. Therefore, they all withdraw cash and bring it to the local "change" storefront which, for a very minimal fee does the same thing.

The original purpose of it was for the non-banked to be able to pay their gas and electric bills but like all public institutions that lose their purpose, they create new ones and lobby the government for monopolies - like the guess worker deposits.

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Les Vitailles's avatar

Notable Republicans like FDR and Harry Truman opposed public sector unions

https://jeffjacoby.com/8035/what-public-sector-unions-have-wrought

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