Oops, the first paragraph says "port offices" where I think it was supposed to say "post offices". (I was actually wondering what a port office was for a second.)

I just read that Bill Cosby was on Nixon's enemy list.

As per a caller on the show re. Barbara Honegar's lecture... Excellent, detailed and thorough; https://m.youtube.n/watch?v=4fvJ8nFa5Qk . Well worth the time on a cold, snowy weekend.

A great idea, but the Republicans will never allow such a thing to happen for all the usual reasons.

"In fact, individuals without regular banking pay out more money in fees and service charges than our federal government spends on all our domestic food aid."

That would make a really effective talking point. Can you provide some documentation?

sandlewould---
have wanted to thank you for info. on vaccines on feb. 6. Always been against vaccines. A healthy lifestyle gives the bodies immune system a fighting chance.

Some years ago at Fannie Mae, our marketing group organized a series of focus groups consisting of different minorities to learn the reasons why so many of them chose to do business with pay day lenders. Many of the people had perfectly fine credit and good employment and income histories. Many felt intimidated by banks, the huge formal infrastructure and what they felt was an immediate negative attitude conveyed by loan officers and other bank employees. Moreover, they expressed concern over the amount of information banks required from them. Disclosing this level of personal information left them feeling vulnerable.

For a decade or so I served on a committee with bank executives, community and non-profit leaders and others focused on economic development challenges in distressed neighborhoods. The lack of bank branches in these neighborhoods was acknowledged as a serious problem, only partially being addressed by the Community Reinvestment Act. What one of the city's largest commercial banks put into place was a unique strategy to attract customers in these neighborhoods: the mini-bank. These branches were placed in retail spaces, offering basic banking services similar to the pay-day lenders and check cashing services, but at much lower costs. In just a few years, the bank's business volume from these retail branches multiplied, and the residents of the neighborhoods increasingly came to think of the bank and its local employees as people they could come to and trust that there needs would be met or at least seriously considered.

One of the great needs in communities where household incomes are lower is for financial education. Efforts by the FDIC, the Federal Reserve Banks and local organizations have never been sufficiently funded to reach a majority of the households in need of such information. The result is that they are too frequently victimized by aggressive and targeted advertising and telemarketing. These were (and still are) the tactics employed by the finance companies and second mortgage lenders who lure people into predatory lending contracts.

In short, among all of the other steps that need to be taken to make our financial system actually serve the needs of people, at the top of the list if a serious commitment to financial literacy. The best way to achieve this is to begin in the schools. Teaching financial literacy and economics should begin in grade seven and continue throughout high school. Then, at least, our younger members would come into young adulthood armed with the knowledge needed to survive financially.

Tom, makes a good argument. Many people in my area, (the Memphis area) cash their checks at the liquor stores, for a fee or for free if you buy a bottle, because they don't have bank accounts. There are many of the fast cash pay day loan places they go to also. Even if they go to their boss's bank, they have a hard time cashing their paycheck because they don't have an account there or have insufficient ID. I believe the post office could help millions of people cash their checks but for a small fee because the fee is needed to pay for the service. I don't believe the post office should loan money though. I do believe there is a big problem with credit in this county. It started with the company store then credit cards and now lenders offer consolidation loans to make even more money from people who are drowning in debt. The payday loan places are preditory lenders who prey on poor and desperate people with interest rates similar to the interest rates of the mafia. They also cash checks for a percentage of the checks. The post office could take some of the bite away from these loan sharks.

Payday loan or check cashing companies are border line criminal. Here in Canada they where charging fees in excess of 60%, with all the hidden fees. Most provinces have put a limit on interest amounts anywhere from 17 to 23 percent. They prayed on people with social problems. It was long over due.

When I go to US but all I see is banks everywhere. With internet banking most people never step into a bank here. Is Thom saying that post offices are more accessible then banks down there. That's had to believe.

Canada's post office is doing really well. It started its own courier service and put small private post office branches everywhere from 7-11s to Safeway. They also put in super boxes in all new neighbourhoods instead of door to door. We have never had Saturday delivery, who can't wait until Monday?

Walmart's getting into banking. Everyone seems able to get to a Walmart.

Heck, In Israel, and likely in other countries the post office offers banking service, but don't quote me about the other nations. You not only can have bank account, but pay your utility bills, transfer your title when you sell your car, buy a debit card, a SIM card, and if you need a cell-phone, you can get one for a decent price at low monthly payments. You can make a loan from the postal bank through their connections with one commercial banks.

Yeah, they offer a web site where you don't even have to go to the post office, go to the website, follow the directions, and bingo, it's paid in full.

Funny, too the government privatized it, and the new owners figured they had to make money or else they'd go broke. They did and they make money. You can even buy foreign currency without a commission, and debit cards in foreign currency, too. Did I forget envelopes and packaging materials, faxes, send applications for passports (local)

It's a full service post office. Right, business can send mass mailings, and they will assist them in the effort, saving them the cost of hiring out people to distribute it. So it's junk mail, but it's a way of the post office to make money.

I think the trouble in the States is that anything that has the tag of government is treated by the neo-Cons as the enemy, and in the meantime whatever infrastructure is left is falling apart so even the neo-Cons are hurtin'. It must be they have so much money, they have to "find new and more interesting ways" of spending it.

PFNELKAK ... you are very welcome!

Dr. Gary Null PhD, Clinical Nutrition, has 2 shows on PRN.FM that are awesome; The Gary Null Show & Progressive Commentary hour. If you go to PRN.FM you can click on the 'shows' link and download the podcasts for free... HOURS of scientific data proving the dangers and lack of efficacy of vaccines... cover-ups at CDC, distorted, buried history of the truth re. Polio virus being found in people all over the world who were asymptomatic and children in the US coming down w/ "Polio" in parts of the country where fruit crops were heavily sprayed w/ arsenic and lead who were not tested for the virus, how the "epidemic" was ending before the vaccine was introduced after the use of these pesticides was curtailed, how it was referred to at the time as an American disease that did not flourish elsewhere in the world...fascinating stuff. etc. Every Doc, public health scientist, etc. needs to know this stuff!!! Last week, he did a 2 part series on this stuff, and "someone" (big pharma?) hacked and deleted his entire website.