Bernie Sanders's Highly Sensible Plan to Turn Post Offices Into Banks

[eridani]

http://www.theatlantic.com/business/archive/2015/10/bernie-sanders-lets-turn-post-offices-into-banks/411589/

In an interview with Fusion’s Felix Salmon the day after last week’s Democratic debate and published Tuesday, Senator Bernie Sanders discussed the marquee features of democratic socialism he’s 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 Sanders’s 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 don’t 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.

[Mbrow]

1. Not only is that a great idea,

To expand on this, make it the front line on internet fraud and abuse. Also make it a full government department again.

[eridani]

2. We actually had it prior to 1960

Just like free college tuition, what we have done before we can do again.

[DetlefK]

3. A tried and tested method, in use for more than a century in Europe.

[Paka]

4. It works beautifully in France...

...and other countries where they have it in place. It's a great idea.

[BernieforPres2016]

5. This is a great idea

I think Bernie should be talking about it more.