Kirsten Gillibrand Proposes Post Office Banking For All


IF YOU HAVE A BANK ACCOUNT OR IF
YOU HAVE ACCESS TO BANKING IF YOU WANTED TO BANK YOU MIGHT
BE SURPRISED TO FIND OUT THAT FOR MANY AMERICANS THEY
DON’T HAVE ACCESS TO THAT. IT CAN BE A FINANCIALLY
CRIPPLING BURDEN TO NOT BE ABLE TO ACTUALLY GO TO A BANK,
OPTIONS YOU HAVE TO TURN TO OUR INCREDIBLY COSTLY. THEY SPEND A LOT OF LOBBYING
MONEY TO KEEP IT THAT WAY. BUT THERE ARE SOME IDEAS THAT
COULD FIX THIS PROBLEM. SEN. KRISTIN GILLIBRAND HAS A
PROPOSAL THAT WAS RELEASED TODAY THAT FOLLOWS SOME THINKING THAT
COULD POSSIBLY FIX A PROBLEM. YOU WOULD BE ADDING ON
EXISTING SERVICES TO A VERY AVAILABLE SERVICE. AND IN PARTICULAR THE UN-BANKED
RATE ñ WHILE THIS WOULD HELP MANY AMERICANS, IT COULD
ACTUALLY BE MORE HELPFUL. BERNIE SANDERS HAS BEEN
PROPOSING SOMETHING LIKE THIS FOR YEARS. HE WAS ON VICE A WEEK AGO.>>I’M GOING TO GIVE YOU A
COUPLE MORE NUMBERS AND TELL YOU THAT THE NUMBERS IS $375. BY THE TIME THEY PAY
BACK, THEY HAVE $520 IN INTEREST AND FEES ON TOP OF
THE 375 THEY HAVE TO RETURN. THAT IS BACKBREAKING. ANNUAL INCOME IS 25,000 ñ
THEY SPEND NEARLY 10% ON THEIR INCOME ON JUST PAYING
BACK MONEY. IN THIS CASE INSTEAD OF PAYING
HUNDREDS OF PERCENTAGES IN INTEREST THAT THEY GET, WHICH IS
UNBELIEVABLE, USED TO BECAUSE LOANSHARKING, NOT THE POST
OFFICE IF THEY DO IT THERE IT WOULD BE A LITTLE ABOVE 2%. DO YOU HAVE ANY IDEA WHAT KIND
OF MONEY THAT WOULD SAVE? IT COULD CHANGE THEIR LIVES. INSTEAD OF LOSING 10% OF THEIR
INCOME TO PAYING BACK INTEREST AND FEES TO PAY A REASONABLE
INTEREST. LOOK AT ALL THE SENATORS
COMPETING HAVING MORE AND MORE PROGRESSIVE POLICY POSITIONS. REMIND ME AGAIN WHO WAS GOING TO
WIN THE PRIMARIES? THE IDEA WAS THAT THE ESTABLISHMENT WILL
REASSERT ITSELF AND THE VOTERS OF THE DEMOCRATIC PARTY ARE NOT
REALLY THAT PROGRESSIVE, REMEMBER HILLARY CLINTON ALSO
WANTED CORPORATE TAX CUTS. THE IDEA IS THAT THAT IS WHAT
DEMOCRATS WANT. THAT IDEA HAS BEEN DEFEATED. IT DOESN’T MEAN THEY ARE NOT
GOING TO DO IT ONCE THEY GET INTO OFFICE. I AM NOT NAœVE BUT RIGHT NOW
EVERYONE WHO WAS THINKING OF RUNNING FOR PRESIDENT, THEY ARE
ALL COMPETING TO BE MORE PROGRESSIVE.>>YEARS OUT FROM THE PRIMARY.>>SO IT TURNS OUT THE VOTERS
DID WANT A PROGRESSIVE SO THE ESTABLISHMENT WAS WRONG AND ONCE
AGAIN WE WERE RIGHT. IF WE WERE NOT RIGHT DO YOU
THINK GILLIBRAND BOOKER WOULD BE RUSHING TO THE LEFT? THE REASON WHY I THINK THE STORY
IS SO MUCH A WATERSHED MOMENT IS BECAUSE THIS IS NOT FAKE
PROGRESSIVE, THIS IS ACTUAL PROGRESSIVE. WHY DON’T I PASS
SOMETHING THAT IS POPULAR? IT WILL HELP ME GET ELECTED AND BE
GOOD FOR MY CONSTITUENTS.>>SO YOU HAVE UNPOPULAR VIEWS SO
WE NEED CORPORATE MONEY TO RUN ADS TO FOOL PEOPLE TO GETTING
YOU INTO OFFICE. WHY DON’T YOU DO WHAT PEOPLE
WANT THEN YOU DON’T NEED THE MONEY AT ALL?>>SO THIS ISñ I BELIEVE
THIS IS NOT JUST PRETENDING ANYMORE. WE HAVE REACHED A MOMENT WHERE
THEY HAVE ACTUALLY BECOME PROGRESSIVES. THIS IS A GREAT BILL, SHE HAS
HER NAME ON IT. LET’S SAY GILLIBRAND GOES ALL
THE WAY THROUGH AND RUNS FOR PRESIDENT NOW SHE WOULD HAVE TO
PROPOSE THIS, IT IS ONE OF THEIR SIGNATURE PROPOSALS.>>EITHER WAY WE WILL CONTINUE TO
WATCH HER, IT IS OUR JOB.>>OF COURSE WE WILL STAY ON
THEM BUT ALSO CREDIT WHERE CREDIT IS DUE. IT TURNS OUT WE WERE RIGHT ABOUT
THE VOTERS AND NOW HAVE TO COME CATER TO YOU, WHICH IS A GREAT
PLACE TO BE.

100 comments on “Kirsten Gillibrand Proposes Post Office Banking For All”

  1. Cynthia Johnson says:

    It's called usury. It used to be illegal.

  2. Zion S says:

    WE ARE ALL SLAVES!!!! We go to school to be indoctrinated into working our entire lives away in order to generate currency that we are nearly forced to keep in "banks" that hold your "money" (life energy) and use at their leisure on systems designed to keep you in your place. And, if you don't like it, the government will be more than happy to oblige by having a Handy Man with a badge stop by your house, (house being a rented govt. property that you are allowed to use until your dead or unable to slave any more) go to a corporate prison and spend your life in a cage raising tax money (life energy) for someone else. You and everyone you know is a tool in the box, a hamster on the wheel, a sheep in the pen. From the moment you're born to your final breath in this life, you will be leeched, consumed, and shit out of the perpetual government cogwheel. An unfortunate mistreatment of the nearly impossible existence of mankind. So rare, yet so intent on self distruction.

  3. bigraviolees says:

    Poor folks cash your paycheck at the liquor store, get 1/32 back

  4. wilmar han says:

    They have had this in Germany for decades. It's nothing new and it works very well.

  5. Mark Lipse says:

    Brilliant. To see an old idea that has been practiced for decades and decades in many Western countries (Japan, The Netherlands, New Zealand, Germany, and more) get a new lease on life in America. Go for it!

  6. States Man says:

    I love this idea!!!

  7. Mr. Recovery Fitness says:

    The thing is, the service at the post office is shitty and the union employees don’t care because they know they won’t use their jobs. I’ll be damned if they handle my money too…

  8. Ll G says:

    She must have been reassured that the bill wouldn't pass. You don't go from neoliberal to progressive overnight, and the fact that she is now seen as a contender for the Presidency by MSNBC/CNN seems to be the impetus. Not buying it.

  9. LiquidSwords03 says:

    Bernie said it first

  10. dvdschaub says:

    The lines at Post Offices are already intolerable. They need a separate window for banking activity, at least in larger communities.

  11. booley says:

    Its funny since this was a Sanders idea. I think quite a few ignored it or scoffed at the idea.

  12. Maine Explorer says:

    She Sucks !

  13. A.J. Brown says:

    Historically, the post office used to offer this, and it was the private banking institutions that bought out our government lobbying our politicians change these services offered by the post office. Their reasoning to remove this service was because they claimed that the post offices banking rates which were free at the time, with no penalties were impossible to match therefore forcing private banking institutions to not be able to compete, and so our government later removed this service from the post office. That is now why the only service the post office offers is money orders. So Kristen Gillibrand, and Bernie Sanders are bringing back a service that existed at one time in America.

  14. JRLM says:

    Hell yeah

  15. Szriko says:

    Gross. Why should the tax payer have to be burdened with even more cost to help thugs and other degenerate, lazy, losers? We already spend thousands each year – every single one of us – to give these lazy pieces of shit free food because they can't just work a job like a normal person.

  16. Edward Maxwell says:

    Any banker or Republican who opposes this idea should be arrested and thrown in jail.

  17. Carl Taylor says:

    We've had this in Europe for decades… The US is soooo 3rd world and clueless.

  18. Christian O. Holz says:

    you also need a bank account to get your tax refund from the IRS.

  19. Snowball Effect says:

    If only crypto was at a point where common folk could turn to that instead.

  20. David Shull says:

    A Trojan Horse. You'll see more and more of them as the time passes. Merely crumbs swept from their banquet table….

  21. michael gregory says:

    Didn't the Post Office offer basic check cashing and banking services a while back?

  22. Joseph Jucker says:

    Who cares if they are insincere about their newfound progressive beliefs if they actually implement them

  23. david starks says:

    This idea if it catches on it will also increase the economy mightily! If these new banking clients can save money on repaying loans they will spend it in the marketplace.

  24. Rick O'Brien says:

    This is not new we had post office banking until 1966. It was made illegal..By guess who? The f-in oligarchs.

  25. sara says:

    Holy shit America HOW is not having a bank account a thing? can it still be culture shock if it's just you repeatedly going WTF you don't this or this OR These?

  26. Ethan Hill says:

    GILIBRAND for PRESIDENT

  27. Two Sheds Johnson says:

    Cenk…you know what the interest rate is? It's the price of RISK. The riskier the loan is, the higher the interest rate will be. So, if I'm loaning my money to the Federal Government for a bond that pays 2% interest, that means that loan is LOW RISK and so is the interest payment I receive. Now, if I loan someone who is employed part time and making minimum wage, that loan is going have a greater amount of risk to it, so the interest rate for it should be pretty high…certainly much higher than 2%.

    What happens if that person can't pay back the loan? Are taxpayers on the dole for it? The difference here is that if a bank or payday lender decides to make that risky loan, the risk is known and they make the decision to take it on. If the government makes that loan, it's funded by taxpayers. That would be fine if ALL taxpayers are on board with this plan, but I guarantee you plenty won't be. Are they still forced to eat the costs of borrowers not paying their loan back? That's what I would call IMMORAL.

  28. Carolyn Smith says:

    .10 of every dollar earned should go into the Government TSP used by the Military and Civilan Employees. Low-income and Middle Income. This would give people a start at Retirement plus Social Security and Universal Healthcare.

  29. eimearinez says:

    Have this for years in Ireland too I had a bank account before I was even born so idea of not even having a bank in your town you can access is such a strange idea to me I only live in a small town n we have 3 n a post office that does banking ! I give out when my banks atm is out of order I can’t even imagine how hard it most be to budget n get at your own wages without a bank near by?!?!

  30. empbac says:

    One word:

    BITCOIN

  31. aldi404 says:

    Here in Germany that's been the law for years

  32. Leroy Lowe says:

    Like you don't have to stand in line at the Post Office enough already? More staffing!

  33. Krizia De La Cruz says:

    Post and Bank is already combined here. It works out pretty well.

  34. Jack Gamboa says:

    The banking industry has neglected this market, but I guarantee they will fight against this.

  35. HaeravonFAQs says:

    A snake that sheds its skin is still a snake. Not voting for Harris, Gillibrand, Booker, or any of these other corporatist schemers. If they want to prove themselves, sit out the next election, work for progressive policy positions, and get in line behind Bernie Sanders.

  36. Tricob1974 says:

    How is the post office supposed to pay for it? They've drowning in deep, deep debt for many years, and Republicans have been fighting harder than you can possibly imagine to shut all the post offices down. Why? So corporate delivery companies would have a pure monopoly on any and every bill you have to mail out. This is yet another move to end post offices in our country once and for all. The Republicans won't lift a finger to fund this. They'll insist the post offices do it all … every penny.

  37. Adam Palmer says:

    Not to mention unlike payday lenders post offices do their jobs and fallow the rules

  38. NyYankees1985 says:

    We need State owned banks

  39. Jypsy with_a_Jae says:

    Brilliant! ☀️ The bill and the reporting on it!

  40. allgoo19 says:

    This a great idea.

    I hate my current bank, specially its CEO(Jamie Dimon, the name of bank remains anonymous, lol)) and have been looking for a way to depart.
    I've been thinking of changing it to credit union but there are not many of them around.
    The post office is within a walking distance, I'll change it in a heartbeat.

  41. Ali Farstrider says:

    More jobs, more money for the USPS, cheaper for people than being preyed on by payday lones or paying fees for getting a paycheck cashed OR getting paid in those damn gift cards. It would be great especially for rural communities!

  42. allgoo19 says:

    Privatization or keeping it as private is not because of the efficiency as they say but for the business opportunity for those who can buy the politicians.
    Not all companies are better as public, not all companies are better as private.
    Banking as a public sector can lend money to local business(farmers etc) even if not for the profit but for the better local economy.
    Banks don't need to make profit.

  43. TheRangeControl says:

    They can't even get deliveries right in my area!!!

  44. Megha Shyam says:

    When I was in High School in the 50's, I used to have a passbook with money in the Post Office. This idea has been around for many many years but not in the US.

  45. Stephen says:

    WOW! I thought America was a first world country. Seriously the USA has major perception issues if the people living their are unable to look beyond the borders and see how proper democratic countries work that are not beholden to corporate greed

  46. NILgravity says:

    This is how bernie passes legislation. He hands it off to other politicians who want the attention

  47. Jimmy Baggs says:

    So the post office is going to provide loans at 2% to people who don't have a track record of paying back loans, and therefore can't get bank credit, at the cost of the taxpayer. Do you need someone to point out the problem with this plan?

  48. W N says:

    This would never happen because Republicans are deeply with the hands in the pockets of the private sector's legalized loan sharking business. In AZ, FL, the politicians have be exposed to voting for these payday loan schemes.
    AND banks will simply lobby to kill this idea with billions of bribes.

  49. Pozervations says:

    Thanks Bernie!

  50. Big Red says:

    Yes make my Post office even slower and lines longer

  51. Big Red says:

    It takes more then some cash to open a bank, this is stupid, you would have to train the staff and hire new staff and then the whole loan thing is even stupider , maybe for just cashing checks but making it a cheaper payday loan is stupid as hell

  52. Brad Kirsch says:

    Bullshit. I'm glad they're feeling the heat. But you'd have to be an idiot (I'm talkin to you Cenk) to believe a word of it. When she gets that bill passed, I''ll eat my hat. But don't hold your breath.

  53. JokersSerious says:

    the question is whether or not these P.O. bank accounts will be immune to third party interference.

    A LOT of people in this country already depend on the P.O. for money orders to pay their bills. They can't hold bank accounts without discovering one day they've been frozen or stolen from for various fees or ''judgments'' on things they may not even be aware of.

  54. BioCapsule says:

    This is excellent… I have no idea that banking were so problematic in the US, how is that even a thing in supposedly the "no.1" western country, when even non-western countries have better.

  55. Scott Martin says:

    Watching the meeting where Bernie Sanders and Elizabeth Warren (presumably) explained Japanese Postal Banking to the seriously dumb bunnie Gillibrand must have been like a real life political version of Pygmalion.

  56. Nunya Biznes says:

    USPS in the banking industry?! Did I click on "The Onion" by mistake?

  57. Injeley says:

    Nice but post office employees need to get friendlier; so many are so rude.

  58. Hope Emch says:

    Interesting how many prospective 2020 establishment candidates are finally endorsing progressive policies.

  59. Linda Linda says:

    I use to live in low-income housing and the other people there didn't want to bank. They didn't want checking accounts, they would take their SSI or SSA off their debit cards, get money orders for their rent and phone, and spend the rest.

  60. Linda Linda says:

    Have you tried to go through the post office just for stamps, it takes a half hour, there is nobody working there. Who is going to be the "teller? …and who uses a payday loan?…not anybody with brains. Who can afford any loan? If you can't pay for it today, you can't pay for it at the end of the month…you learn to go without!

  61. Julien Theriault says:

    I live in Québec and here a banking (chequing) account is a right. Isn’t it the case in the US?

  62. Seneca Brown says:

    Hurrah for Kirsten Gillibrand! Here is someone looking out for the discarded millions who lost their homes in the 2008 global economic collapse and are now trying to claw their way back into the middle class.

  63. Matthew Otto says:

    Donald Trump:
    "Gassy Gillibrand proposes fishy smelling Bill to empower Dead USPS." 1/2

    "Liberals want Governmental control over Your money. DISGUSTING." 2/2

  64. Real UFO Videos says:

    Great idea. Why it won't pass? Banksters won't make any profit. They will lose customers. And who's Congresses daddy? Banksters!

  65. LittlepigStore, LLC says:

    Hell ya!

  66. LittlepigStore, LLC says:

    It's a protecting the dollar store working class from preditory capitalist!

  67. Gabriel Castaneda says:

    American Postal service is in shambles and can't stop blowing out their budget but they expect the defunct postal service to suddenly become efficient at something like banking? Ya, yay progressives.

  68. Rex fromMN says:

    This idea of the Post Office giving limited low cost banking services is a tried and true business plan in many industrialized countries. The United Kingdom has done this for generations where millions of people benefit. Why is this a progressive idea? Thanks to Kirsten Gillibrand but this reform would make the Post Office viable around the country. Conservatives should be in favor of competition. Pay Day Lenders are vultures who need competition or better yet driven into other practices than preying on poor Americans.

  69. DavidMillsSeven says:

    If it comes to banking the US lives in the dark ages.

  70. Doc Darlin says:

    This was a great idea – when Bernie Sanders proposed it 15 years ago.

  71. Eric Thomas says:

    Let me guess, conservatives are against this. What is your opposition guys?

  72. jessica canteen says:

    You can’t just take the win without finding a way to throw salt at the reps you brand “establishment”. Just take the win and push the message. Who cares who spoke it first. These ideas are getting mainstream attention now so just take the frickin win!! I swear I lose my patience watching this channel. Just focus on the news and stop adding your salt.

  73. Fuck Trump says:

    Sounds great!

  74. William Ozier says:

    I love this idea!

  75. HeHe says:

    This was introduced in Scandinavian countries almost 20 years ago.

  76. Cecil Campbell says:

    I don't trust any of these former corporate shills. There's no chance of this passing right now.

  77. Kyle Waller says:

    YEEEEeeeesss falls out of seat Come on progressives. Do the things.

  78. Lisa Baerga says:

    Love it. Will never happen…

  79. RoninXDarknight says:

    Fantastic idea. I lived in Tokyo for several years and they do this there. I also loved being able to pay utility bills either through an ATM or at the convenience stores.

  80. Auston Pisani says:

    That rumbling you hear is the footsteps of "Financial Sector" lobbyists running to shut down this proposal.

  81. Sheen Estevez says:

    Hmmmm….interesting, didn't know there was an under-banking situation….guess that naiveté stems from living in a metro area.

  82. hugo castellanos says:

    did the post office did banking some time ago

  83. mark haas says:

    It sounds to me like the public sector is just trying to prop up their power-base with an outdated service that can be much more efficiently operated by the private sector. But hey , maybe taxpayers should fund TYT as well or just take over all of YouTube. No danger of an authoritarian state forming there, right? I'm sure most subscribers of TYT would find that a fantastic idea.

  84. antithetical 1 says:

    Awesome that some democrats seem to be coming around! Let's keep our eyes open and our hearts a little guarded, but optimism and hope have sparked, hopefully it will rage into a wildfire of wonder and warmth for our cold, lost country. One major concern I have is our useless corporate media. Their masters won't be happy to have someone not under their thumb churning up the pure waters of social justice beneath the money mucked miasma of bribes and backscratching that suit them better.

  85. Ned Thumberland says:

    That system has been in place in numerous countries in Asia for decades. Once the country has that, the next step is to do away with personal checks.

  86. Dorian Michel Armenteros Sanchez says:

    Sorry to tell her that Sanders already proposed to give USPS this ability

  87. Bear Ram says:

    It seems right wingers like this idea as well, the like to dislike ratio is way up!

  88. Telly Vin-a says:

    nice idea but isn't the post office's biggest problem trying to fund employee pensions under the craziest liquidity requirement ever? seems they would need more staff to do this and thus even more retirement liability…

  89. Bia Rago says:

    Even Brazil has this…

  90. P Spence says:

    Took them years? Been happening over the pond for decades. Probably a lot of other places too.

  91. Satan Lover13 says:

    thats a terrible idea !!!

  92. un mog says:

    Lets see how much Wells Fargo spends on lobbiests against this.

  93. wall vlog says:

    kristain gillbrand is just pandering to Bernie supporters, she is a phoney don't believe her

  94. lawbag1 says:

    The only danger is if a fake progressive wins people’s hearts and votes and then does something terrible or gets caught in a scandal and then all the media and Republicans can point their fingers and say look progressives are just as bad as everyone else

  95. eaglesclaws8 says:

    Great idea. bet the banksters wouldnt like it.

  96. B. Chan says:

    I borrowed $600, I owe $939

  97. TheAstrius says:

    That would be awful ti would take forever to do withdrawals and the post office is already bad about losing peoples money orders.

  98. MGTOW says:

    Canada Had This Service From 1867 To 1968.. It Looks Like It Will reopen In Canada Next Year In 2019..Many Other Counties Have Got Postal Banking…

  99. bone2fish says:

    USPS cannot run postal services efficiently , and are billions in the red. A foolish idea to give them more to do.
    Move the high risk involved in these loans onto the backs of the taxpayer….stupid idea.

  100. traviswall1982 says:

    Damn, the way they talk about banking, you would have figured that the human race would have gone into extinction centuries ago since banking was not a big thing (much because banks have something called "fractional reserve banking" that makes them a scam.)

Leave a Reply

Your email address will not be published. Required fields are marked *