I tried to forward some stuff from The Analysis.net to the list, but Freelists
rejected it as spam. One of the episodes is a wonderful and disturbing
interview with an old guy who's been involved with warning all of us about
global warming for a very long time. Everyone knew 50 years ago. There's
evidence to show that the wealthy planned to escape to space stations and other
planets when the earth gets too hot. They just want to keep making profits and
let everyone else burn and then leave. It isn't only Donald Trump who's a
selfish bastard.
Miriam
-----Original Message-----
From: blind-democracy-bounce@xxxxxxxxxxxxx
<blind-democracy-bounce@xxxxxxxxxxxxx> On Behalf Of Carl Jarvis
Sent: Saturday, August 22, 2020 6:35 PM
To: blind-democracy@xxxxxxxxxxxxx
Subject: [blind-democracy] Re: Warnings of Scheme to 'Kill Postal Banking' With
ATMs in Post Offices
We believed our Forefathers had built a solid, safe home for us. But Donald
Trump and his Band of Billionaires, have proven that it is actually a house of
cards.
The year 2020 may go down in history as the year the House of Cards Collapsed.
Carl Jarvis
On 8/22/20, Miriam Vieni <miriamvieni@xxxxxxxxxxxxx> wrote:
Warnings of Scheme to 'Kill Postal Banking' With ATMs in Post Offices
August 21, 2020 The plan, revealed in an internal USPS document, is
getting slammed as yet another Wall Street power-grab.
JPMorgan Chase CEO Jamie Dimon delivers a speech at the Fortune Global
Forum in San Francisco. (Fortune Global Forum/Flickr/cc)
By Jake Johnson
Common Dreams
JPMorgan Chase, the largest financial institution in the United
States, is reportedly in talks with the U.S. Postal Service about a
proposal to set up ATMs in post offices in several states across the
country-a plan critics warned is an effort to eliminate the
possibility of a public postal banking system.
Capitol Forum reported Wednesday that the Postal Service - currently
headed by Louis DeJoy, a Republican megadonor to President Donald
Trump - is "considering a proposal from JPMorgan Chase (JPM) to offer
banking services in post offices in a move that could give the Wall
Street giant an exclusive right to solicit postal customers."
A recent internal USPS planning document obtained by Capitol Forum
says "the Postal Service is in discussions with JPMorgan Chase
concerning a potential limited pilot test of ATM and other banking
services located on Postal Service premises in several states." One
anonymous source told Capitol Forum that the pilot would involve the
Wall Street giant "leasing space from the Postal Service."
Sen. Sherrod Brown (D-Ohio), the top Democrat on the Senate Banking
Committee and author of postal banking legislation, slammed the
reported plan as yet another destructive Wall Street power-grab.
"What JPMorgan Chase wants to do looks like another attempt for big
banks and corporations to privatize our public infrastructure so their
shareholders gain while working families suffer," Brown told the New
York Times, which confirmed Capitol Forum's reporting on the talks
between USPS and JPMorgan Chase.
Times reporter Emily Flitter noted that big banks have long been
fervently opposed to the idea of a USPS-provided banking system. "If
JPMorgan had ATMs and other facilities in post offices, it could make
it harder for postal banking to become a reality," Flitter tweeted
Wednesday. "Banks oppose the idea of postal banking because it would
represent another source of competition for them."
David Dayen, executive editor of The American Prospect, warned that
the plan being explored by JPMorgan Chase and the USPS "would be no
more than a rental of ATM space in exchange for the elimination of a
potential rival before it gets going."
"This wouldn't expand services for the unbanked, wouldn't change the
terms that put big bank financial services out of reach for poorer
people," said Dayen. "It's designed just to stop postal banking from
being offered with an exclusivity agreement. It's more an antitrust
violation than a deal."
News of the talks between Wall Street and the USPS comes as DeJoy is
facing massive public backlash over changes to mail operations that
postal workers believe are designed to pave the way for privatization
of the most popular government institution in the country. On Tuesday,
DeJoy vowed to suspend - but not reverse - his policy changes until after the
November election.
Economist Robert Reich tweeted Wednesday that "a people's post office
would offer banking services to compete with JPMorgan and the other
big Wall Street (too-big-to-fail) banks, now ripping off Americans
with exorbitant fees."
"Instead," Reich wrote, "USPS is now considering partnering with
JPMorgan to set up its banks inside post offices."
This article is from Common Dreams.