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.
"For the progressive movement your entire last paragraph is a feature, not a bug."
Exactly. One amazing thing about the USPS banking: It was discontinued. Almost no law is ever really, permanently repealed, and what Reagan said is more true now than ever, "Government programs, once launched, never disappear. Actually, a government bureau is the nearest thing to eternal life we'll ever see on this earth!"
"But today, why would anybody want to deposit money with the Postal Service?"
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.
"For the progressive movement your entire last paragraph is a feature, not a bug."
Exactly. One amazing thing about the USPS banking: It was discontinued. Almost no law is ever really, permanently repealed, and what Reagan said is more true now than ever, "Government programs, once launched, never disappear. Actually, a government bureau is the nearest thing to eternal life we'll ever see on this earth!"
"But today, why would anybody want to deposit money with the Postal Service?"
I hesitate to trust them with my mail.
Notable Republicans like FDR and Harry Truman opposed public sector unions
https://jeffjacoby.com/8035/what-public-sector-unions-have-wrought