Topic: The Democratic Party and payday loans (and postal banking). Second segment is a repeat from 2014 on the same topic but with some other angles. People:Bill, Rachel, Jonathan, Nate. Produced: Nov 19th, 2017 (and August 29, 2014).
Guest: Heather R. Andrews. Topics: RushCard malfunctions harm vulnerable, low-income consumers; why the post office should offer some banking services; what we can learn from a 1945 speech by President Truman. People:Bill, Kelley. Produced: October 25th, 2015.
– Broken promises as a prepaid debit card pitched, with hip-hop cred, to poor consumers breaks down.
– Should the post office offer limited banking services for low-income people in the U.S.?
– In a Sept 1945 address to Congress, Pres. Truman outlined what the country must do after the war. What can we learn from that today?
…only about 7 percent of the world’s national postal systems don’t offer some bank-like services.
The reason why this would be so useful in the U.S. is that somewhere between 20 and 40 percent of the population has to rely on check-cashing or payday-lending services, which in some places charge usurious rates that send people into spirals of recurring debt.
…in 1910, William Howard Taft introduced a postal-savings system for new immigrants and the poor that lasted until 1967.
Low-grade localized socialism we can believe in! (And a new revenue stream for our constitutionally mandated postal service.)
Play Now Guest commentator Sasha joins Bill to talk about less visible sequester harms and the Congressionally-imposed woes of the US Postal Service. Then Bill discusses chemical weapons in Syria, renewed turmoil in Iraq, and the CIA’s cash giveaways in Afghanistan.