Postal Banking
Regarding the recent posts on the Privatizer General’s — I mean, Postmaster General’s — proposal for “postal banking:” BEWARE – It’s not postal banking. We used to have a real US Postal Savings System, which operated between 1911 and 1967. I had my first little interest-bearing savings account in it. We started in school with little cardboard books, which had places to insert and hold our pennies, nickels, dimes, and big quarters until we could deposit them at the post office. We needed to amass $5 to make a minimum deposit, which is was a big in the early 1960s,…