Political Crossfire Forums

so on one hand he wants to break up the big banks. on the other he wants to create the biggest of them all. too big to fail? lolz

It would have to be seriously hobbled. No checking, no loans, no debt instruments, etc.

Just a place to cash a check and deposit money at zero interest? I'm OK with that.

Of course, with government we've got the slippery slope of deregulating to the point where eventually this would be in a position to do mega-damage, just like the private banks.

Wait, 20 to 40 percent of people are dependent upon check-cashing or payday-loan services? I've been flat freaking broke. I've cashed checks without a checking account. I have never used either of those services. How in the holy hell do people get stuck using them?

Seriously, there are only a few banks that won't let you cash checks issued from them without an account (something that should be illegal in my opinion). For those that do, opening an account isn't the hardest thing in the world to do. You have to pretty much have committed bank fraud to get turned down for an account.

That said, I would be ok with the post office being a no-interest guaranteed holder of money, check cashing within reason, but not loans.

I like it, and I think most people would, if it actually became law. However, like most of Bernie's ideas, it has no chance of actually passing, because the lobbying against it will be overpowering.

government doesn't handle money very well.