USPS proposes going into loan sharking business

[tailfins]

At least they have plenty of union goons on hand to collect the debts.

http://www.foxnews.com/us/2014/02/06/bankers-balk-as-postal-service-floats-plan-for-payday-loans-digital-currency/

[fj1200]

http://www.foxnews.com/us/2014/02/06/bankers-balk-as-postal-service-floats-plan-for-payday-loans-digital-currency/


...
In a white paper distributed late last month, the Postal Service's inspector general discussed getting into an array of financial services as a means of keeping the money-losing mail operation afloat. Payday loans, check cashing and digital currency exchanges were among the possibilities outlined in the Jan. 27 report.
...
“There’s an old phrase: Do few things and do them well,” said Bill Himpler, executive vice president of the American Financial Services Association. “The Postal Service has its hands full trying to stay above water in trying to accomplish its current mission. I would hate to see taxpayers on the hook for a half-baked venture like this.”
...

Not surprisingly the PO doesn't understand the concept of focusing on your core competency.

[tailfins]

Not surprisingly the PO doesn't understand the concept of focusing on your core competency.

Perhaps they understand that principle all too well after coming to the conclusion they DON'T HAVE a competency of any kind, let alone a core one.

[aboutime]

At least they have plenty of union goons on hand to collect the debts.

http://www.foxnews.com/us/2014/02/06/bankers-balk-as-postal-service-floats-plan-for-payday-loans-digital-currency/


This would also further explain why the USPS...as of yesterday's announcement; has been purchasing Ammunition.
LOAN SHARKS...Government Authorized, Legal Loan Sharks, driving around in USPS vehicles in every American neighborhood...SHOULD BE ARMED...to protect their drivers, and to shoot anyone who hasn't been paying their LOANS.

It also seems like a great way for the Gov. to eliminate soon-to-retire Postal Workers through BULLET ATTRITION practices.

[jimnyc]

Payday loans? Never saw one I liked, they all always seemed like scams. I wonder what type of interest rates they would go after and for how long. And SO many people that are desperate enough to take out these loans end up defaulting on them.

[aboutime]

Payday loans? Never saw one I liked, they all always seemed like scams. I wonder what type of interest rates they would go after and for how long. And SO many people that are desperate enough to take out these loans end up defaulting on them.


Jim. Unfortunately, due to the high unemployment, and lack of full time jobs. Now identified as being caused by Obamacare in many respects. All I can imagine, as to how all of this will play out...IF IT HAPPENS is...the Movie "GOODFELLA'S" and "The GODFATHER".

Imagine a syndicate, authorized by the U.S.Govt, that visits EVERY Home, and Place of Business in the U.S....Everyday...except Sunday...coming to front doors, and demanding REPAYMENT of funds????

How far can one's imagination go?? http://icansayit.com/images/capone2.jpg