Postal Banking

Originally posted by no1marauder
The USPS Inspector General estimates the proposal would bring in $8.9 billion in annual profits:

The Inspector General, who conducted the study with the help of a team of experts in international postal banking as well as a former executive from Merrill Lynch, correctly frames the proposal not as a challenge to mega-banks, but as a way to deliver need ...[text shortened]... ave-itself-and-help-poor

EDIT: We'll get the Inspector General working on your bakeries idea.

Fine, then do it. The USPS is one of the few government agencies that actually seems to know what it's doing in a competitive market anyway.

Originally posted by no1marauder
Another modestly brilliant idea from Bernie Sanders:

In fact, Sanders’s idea is quite sensible. “Postal banking”—which just means that post offices run savings accounts, cash checks, and perform other basic financial services—is common in most of Asia and Europe, and only about 7 percent of the world’s national postal systems don’t offer some bank-lik ...[text shortened]... ck cashing services are presently extorting from mostly lower income individuals).

A win-win.

Apparently some some bankers meet no1s approval and others don't.

Does the Postal services competency to hand the relatively simple job they have, give you the confidence to drastically expand their responsibility, into finance no less.