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Postal Banking: Brought to You by JPMorgan Chase?

Originally published at http://www.commondreams.org/views/2020/08/30/postal-banking-brought-you-jpmorgan-chase

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Jamie Dimon: “Have I got a deal for you…”

The first thing that Margaret Thatcher did was to privatize the post office owned Girobank. Sold for 300 million pounds and immediately re-valued by the new owners at a billion.

~https://en.wikipedia.org/wiki/Girobank

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Two words:

PUBLIC BANKING

A LA NORTH DAKOTA

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That’s five (or possibly six) words.

And I wouldn’t touch the bank Jamie Dimon wants to exploit with a ten-foot pole.

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Once again, the profit motive is king. Postal banking was supposed to help those under-served communities that multinationals won’t and don’t - allowing them access is merely to help them get much “too big to fail” and should NOT be allowed.

Vote all of these criminal grifters out of public office!!

I don’t disagree, but replace them with who?

Democratic Socialists.

I haven’t seen a single person running, that claims that title. Not that I wouldn’t vote for them.