AOC and Bernie Put Postal Banking Back on the Agenda.....

[MMC]

Representative Alexandria Ocasio-Cortez and Senator Bernie Sanders just put postal banking back where it belongs: high on the agenda of those who seek to create a just and equitable United States. On Thursday, the pair drew national attention with the announcement of their Loan Shark Prevention Act, a sweeping plan to “combat the predatory lending practices of America’s big banks and protect consumers who are burdened with exorbitant credit-card interest rates. The legislation imposes a 15 percent federal cap on interest rates and empowers individual states to establish lower limits.” The CEOs of the banking behemoths that have enjoyed a free ride under Republican and Democratic administrations were, undoubtedly, shaken by the progressive populist clarity of the measure. Sanders named names:


But what unsettled conservative champions of the banking interests was a parallel proposal by Sanders and Ocasio-Cortez “to build and expand basic post office banking services as an accessible, affordable alternative to check-cashing and payday-lending businesses.” …..snip~


https://www.thenation.com/article/ao...-john-nichols/



Ahahahahahaha…..AOC idea was to have a government bank ran by the Post office. To handle credit cards and banking. The Nation went and had a brain fart about Conservative champions being unsettled.

Here is how much it unsettled Conservatives.



AOC and Bernie Have a Brilliant New Idea for Banking

https://www.redstate.com/bonchie/2019/05/09/aoc-bernie-brilliant-new-idea-banking
1 day ago · AOC and Bernie Have a Brilliant New Idea for Banking. Posted at 5:00 pm on May 9, 2019 by Bonchie. Share on Facebook. Share on Twitter. There are dumb ideas and then there’s whatever this is. Alexandria Ocasio-Cortez and Bernie Sanders have teamed up to introduce the idea of “non-profit banking services” done via the post office


You should hear her in the video to talk about this. Like, well and like.....Like gag her with a spoon. Puleeze give this broad her own cable channel.

[Common]

At first glance im not against that, first of all I dont see a need to protect the big banks, F em as far as im concerned.

Second payday lenders are LOOOOONG over due for regulation to stop them from raping those that make the least amount of money.

From what I read here it sounds like a fair plan for all americans and the banks, 15% interest is plenty. I havent paid that much interest in decades but many dont qualify for lower rates

[MMC]

At first glance im not against that, first of all I dont see a need to protect the big banks, F em as far as im concerned.

Second payday lenders are LOOOOONG over due for regulation to stop them from raping those that make the least amount of money.

From what I read here it sounds like a fair plan for all americans and the banks, 15% interest is plenty. I havent paid that much interest in decades but many dont qualify for lower rates

It appears AOC and Bernie didn't have all the answers even to their own plan.

[testsubjectalpha]

No love for the banks. One day my credit card charged 7.5% interest (Jamie Diamond) and the next day it charged 15%. And not because my credit score changed. Obama fck'd up consumer credit, the Consumer Financial Protection Board under Obama has only 1 objective, collect data on all individuals. While banks got to borrow for free for 10 years, Obama let banks charge consumers 29% interest on credit card balances. That's just a fact. Obama sucked for everyone!

[MMC]

At first glance im not against that, first of all I dont see a need to protect the big banks, F em as far as im concerned.

Second payday lenders are LOOOOONG over due for regulation to stop them from raping those that make the least amount of money.

From what I read here it sounds like a fair plan for all americans and the banks, 15% interest is plenty. I havent paid that much interest in decades but many dont qualify for lower rates

So do you think the Post Office could handle the banking Industry? Payday Lenders, Credit cards. While there is no love for big banks. Look up what the experts say about a Government run bank. Then the issue of the Post Office running it.

[Mini Me]

There is a dire need for folks who need instant cash to get thru an emergency! We need a bank that does just that; short term spot loans say up to $ 10000 at low interest. And it should not have to show a profit, just break even. We need to enforce usury laws, and payday lenders need to straiten out their act.

[Peter1469]

There is a dire need for folks who need instant cash to get thru an emergency! We need a bank that does just that; short term spot loans say up to $ 10000 at low interest. And it should not have to show a profit, just break even. We need to enforce usury laws, and payday lenders need to straiten out their act.

Credit Unions do that. Banks have to be careful. Too many delinquent loans will force them out of business.

[countryboy]

There is a dire need for folks who need instant cash to get thru an emergency! We need a bank that does just that; short term spot loans say up to $ 10000 at low interest. And it should not have to show a profit, just break even. We need to enforce usury laws, and payday lenders need to straiten out their act.

What is the point of going into business for zero profit? Do libs even think before spouting nonsense?

[Dr. Who]

Representative Alexandria Ocasio-Cortez and Senator Bernie Sanders just put postal banking back where it belongs: high on the agenda of those who seek to create a just and equitable United States. On Thursday, the pair drew national attention with the announcement of their Loan Shark Prevention Act, a sweeping plan to “combat the predatory lending practices of America’s big banks and protect consumers who are burdened with exorbitant credit-card interest rates. The legislation imposes a 15 percent federal cap on interest rates and empowers individual states to establish lower limits.” The CEOs of the banking behemoths that have enjoyed a free ride under Republican and Democratic administrations were, undoubtedly, shaken by the progressive populist clarity of the measure. Sanders named names:


But what unsettled conservative champions of the banking interests was a parallel proposal by Sanders and Ocasio-Cortez “to build and expand basic post office banking services as an accessible, affordable alternative to check-cashing and payday-lending businesses.” …..snip~


https://www.thenation.com/article/ao...-john-nichols/



Ahahahahahaha…..AOC idea was to have a government bank ran by the Post office. To handle credit cards and banking. The Nation went and had a brain fart about Conservative champions being unsettled.

Here is how much it unsettled Conservatives.



AOC and Bernie Have a Brilliant New Idea for Banking

https://www.redstate.com/bonchie/2019/05/09/aoc-bernie-brilliant-new-idea-banking
1 day ago · AOC and Bernie Have a Brilliant New Idea for Banking. Posted at 5:00 pm on May 9, 2019 by Bonchie. Share on Facebook. Share on Twitter. There are dumb ideas and then there’s whatever this is. Alexandria Ocasio-Cortez and Bernie Sanders have teamed up to introduce the idea of “non-profit banking services” done via the post office


You should hear her in the video to talk about this. Like, well and like.....Like gag her with a spoon. Puleeze give this broad her own cable channel.

What's so bad about it? It would help re-purpose the post office and create a new source of government revenue.

[Collateral Damage]

What's so bad about it? It would help re-purpose the post office and create a new source of government revenue.

If the government can't handle what they already receive, what on the Green Erath makes you think they need, much less can handle, a new revenue stream?