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Thread: Sick of Shady Banks? Get a Loan from the Post Office!

  1. #11
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    Quote Originally Posted by OldGaffer View Post
    Republicans will hate that idea, they feel the poor are their designated prey.
    Quote Originally Posted by OldGaffer View Post
    This is what Republicans think about consumers, especially poor consumers.



    Why any working class or poor person would vote Republican is mind-boggling, they live to fuck over the poor and working class.
    Quote Originally Posted by OldGaffer View Post
    Right on time.....
    Three posts. None responsive to the topic whatsoever.

  2. #12
    Wawa Skittletits BDBoop's Avatar
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    I moved my money to a credit union some time ago, but this is an awesome idea, even if I will never forgive KG.
    Thanks from labrea

  3. #13
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    Quote Originally Posted by publius3 View Post
    Three posts. None responsive to the topic whatsoever.
    They were spot on the topic, I said you would hate the idea, and you do, I also gave the reasons you would hate the idea and then you posted what a bad idea it was, validating exactly what I had been posting. So take a fucking hike.

  4. #14
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    Quote Originally Posted by OldGaffer View Post
    They were spot on the topic, I said you would hate the idea, and you do, I also gave the reasons you would hate the idea and then you posted what a bad idea it was, validating exactly what I had been posting. So take a fucking hike.
    Fact its a money losing debacle means nothing to you because people like you don't understand what that actually means.
    Thanks from orangecat

  5. #15
    Thought Provocateur NightSwimmer's Avatar
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    Quote Originally Posted by publius3 View Post
    Congress gives USPS monopoly on first-class mail and is given uniqie access to mailboxes. The USPS also enjoys a range of other benefits including: Low interest loans from UST. It is exempt from state and local sales, income, and property taxes. It is not bound by local zoning ordinances, is immune from a range of civil actions, and has the power of eminent domain. It also possesses government regulatory power, which it has used to impede competitors.

    All that and the USPS has managed to lose somewhere on the order of $50bn +/- in the last decade alone in the industry in which its supposed to possess a core competence.

    So we're going to make them a bank? That's insane.

    The existence of the US postal service is mandated by the Constitution. They operate at a loss because they pick up and deliver to every American everywhere -- something that private package carriers don't do. The postal service was never intended to be a profitable business, but a critical public service.

  6. #16
    Veteran Member Southern Dad's Avatar
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    Making loans to people that can't afford to get loans through traditional means, that doesn't sound risky at all. What could go wrong?
    Thanks from orangecat

  7. #17
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    Quote Originally Posted by Southern Dad View Post
    Making loans to people that can't afford to get loans through traditional means, that doesn't sound risky at all. What could go wrong?

    Where did that come from?

    Making loans available at normal interest rates in under-served communities does not equal "making loans to people that can't afford to get loans through traditional means".
    Thanks from Ian Jeffrey

  8. #18
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    Quote Originally Posted by publius3 View Post
    Fact its a money losing debacle means nothing to you because people like you don't understand what that actually means.
    The Post Office has lost over a third of its business<shrug> Time for them to expand their business model, don't you think? Of course, you would hate to deprive your loan shark buddies of the 447% interest they make off the poor and working class....

  9. #19
    Veteran Member Southern Dad's Avatar
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    Quote Originally Posted by NightSwimmer View Post
    Where did that come from?

    Making loans available at normal interest rates in under-served communities does not equal "making loans to people that can't afford to get loans through traditional means".
    Really? People with good credit can get loans, whether a physical bank is present or not. We have this thing called online. People who go to payday lenders? Those are people who do not have the creditworthiness to get a normal loan. They charge such high interest rates because the default rate on these are terrible. It isn't a question of if the debtor defaults but when.

  10. #20
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    Quote Originally Posted by NightSwimmer View Post
    The existence of the US postal service is mandated by the Constitution.
    Its permitted by the Constitution, no doubt, it is not mandated at all. They don't have to do it and ultimately even if they continue to do it adding banking to its list of money losing operations is just idiotic.
    Thanks from orangecat

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