" have yet to see FedEx or UPS put a letter in my mailbox"
It used to be illegal for anyone but the USPS to put something in a mail box. I think that has changed or,at least,the law is now ignored.
Ken Brunt said:They'll deliver it to your door. Not for 42 cents though. They do compete very well with the Post Office in package delivery.
I have yet to see FedEx or UPS put a letter in my mailbox.............
Private hospitals compete with public hospitals in many cities.
Ralph
Ralph Berg said:I could be wrong but didn't the Government trun the USPS into a stand alone find for yourself business?Ric Golding said:Yes. And it happens every day. UPS, FedEx and others compete with the USPS. I don't ever remember anyone complaining about the Post Office as an example of socialism. The banks have run amuck for years. Why should the tax payers reward the banks by buying all their bad paper? Much better to take those billions, form a credit union, and start lending. Ralph
How does private industry/banking compete against subisdized anything? Efficiency?
I thought that is why we get all these price hikes out of the USPS. When the Government was backing them the price stayed low.
Why would a government owned anything need to be sudsidised?
A stand alone bank with branches at all Post Offices would be able to compete with private enterprise.
No bogus lending. No gambling on the stockmarket. Just regular banking services.
They would be competitive because there would be no grandiose perks for the management to dip into.
Steve Featherkile said:I'd love to be in that position. Do I have to sign up with the Republican party to get it? or did I miss my opportunity?
She tells me that they were forced to take the money, almost at the point of a gun
-Brian 
Ken Brunt said:Now, that's good old American communism!
I'll stick with my Member-Owned Credit Union.........thanx!
-Brian
Tony,
You said - “Why would a government owned anything need to be sudsidised?”
I’ve also questioned that, but isn’t that why our taxes constantly go up?
Then you said - “They would be competitive because there would be no grandiose perks for the management to dip into.”
You guys must have a honest legislature, we can’t say the same.
Brian,
You said - “Now, that’s good old American communism!”
Brian, that one you are going to have explain.
Brian, you can call it anything you want, but it’s still in business, making sound business and lending decisions, and hasn’t taken a dime of the bailout money nor does it need to.
Ric.
I would propose a system based on the way China deals with corruption.
You can get away with it until caught, then you are swiftly executed after a (very) brief trial.
TonyWalsham said:
Ric. I would propose a system based on the way China deals with corruption.You can get away with it until caught, then you are swiftly executed after a (very) brief trial.
Certainly would eliminate repeat offenders
Ralph
Ken Brunt said:Ken, the concept of a credit union has long appealed to me. We joined one thirty years or so ago, and put all of our savings (well, as much as you can save with three little kids and a fourth on the way) into it.
I'll stick with my Member-Owned Credit Union.........thanx!
The kids used to love going to the credit union. There were toys to play with, and even a free drink machine. The CU’s people were invariably friendly and helpful. We were very satisfied customers.
Unfortunately, the credit union’s administrator made several bad decisions, and the credit union went bust. None of us stood to get a cent back. I don’t know if the FDIC backs US credit unions, but there was certainly no government guarantee for Australian credit unions in the early 80s.
Why the state government stepped in to bail us out I’ll never know, but that’s what happened. No member lost a cent. The premier, a bloke named Brian Burke, was responsible for the decision to intervene.
Burke later went to prison for corruption on other issues, and he’s still very much on the nose in Western Australian politics. However, I’ve always had a soft spot for him. At that time, losing the little money we had would have been a very big deal.
I’m glad to hear there are some American financial institutions that have refused to take government money. However, I’m also glad the FDIC has increased its guarantee for US bank depositors.
In my opinion, there are far too many people in positions of responsibility in the finance industry for whom the adage “pride goeth before a fall” applies. Now that they’ve fallen, I hate to see them bailed out. However, I know how it feels to have been screwed by one of those jerks, and I’d hate even more for small depositors like we were to lose their money.
Until recently, Australia’s had nothing like the FDIC. A few months back, the present government guaranteed all deposits in banks, building societies (S&Ls) and credit unions. I thought it was about time Australia took a leaf from the American book on that one, given that the FDIC has been around since the mid-30s.
We have something similar to the FDIC called the National Credit Union Administration, which insure savings up to $250,00. I’ve been a member since I started working at the phone company. It’s still making loans, I’m still writing checks, and what I was most impressed about it was while on vacation a few years back, they contacted me about some unusual purchases made on my credit card. Come to find out someone had gotten my credit card number and was using it, so they immediately canceled the card and issued me a new one. Matter of fact that happened several times, mostly at Christmas, but it was me making the purchases. I guess sometimes it pays when someone is familiar with your spending habits…and with me, putting a several hundred dollars on a credit card is an unusual spending habit…
The only drawback is it only has 4 branches in the entire Phila. Metro area which can be a little inconvenient, but they do have Internet Banking and a branch not far from where my dad lives.
TonyWalsham said:
Ric. I would propose a system based on the way China deals with corruption.You can get away with it until caught, then you are swiftly executed after a (very) brief trial.
That does sound like a workable plan that China has going. Our government is quite overwhelmed with lawyers. The swifter hanging of horse theives always worked. Yes, there could be errors, but the person that was hanged never stole another horse.
Wells Fargo has publicly stated that they didn’t want any bailout money.
I assume then that an armored car from the U.S. Treasury Department just pulled up to the front door and the guards came in with the $25 billion, pointed their guns at the tellers and made them take the loot. Sort of a reverse bank robbery, with Wells Fargo management protesting all the way. They probably even had to file a police report stating that they had been forced to take money they didn’t want!!
It truly takes all kinds of cheats and liars to get where the so-called financial and investment advisors of the world have taken us. It seems like it will be a long way back.
Happy RRing,
Jerry
Many of the Worlds problems could easily be solved.
For example. For a start, World hunger could be alleviated by eating all prison inmates.
That would free up space for the homeless to live.
Then, if they became too lazy enjoying their new found luxury we could eat all of them as well.
Then we could use the prison space to incarcerate politicians, lawyers and radical preachers.
Simple guilt by association would suffice for proof.
Just like Guantanomo Bay.
With aplogies to Billy Connolly.
Oh!!! Yes.
I forgot financial advisors. Chuck them in the can too and leave them to rot.
Jerry Bowers said:
Wells Fargo has publicly stated that they didn't want any bailout money.I assume then that an armored car from the U.S. Treasury Department just pulled up to the front door and the guards came in with the $25 billion, pointed their guns at the tellers and made them take the loot. Sort of a reverse bank robbery, with Wells Fargo management protesting all the way. They probably even had to file a police report stating that they had been forced to take money they didn’t want!!
It truly takes all kinds of cheats and liars to get where the so-called financial and investment advisors of the world have taken us. It seems like it will be a long way back.
Happy RRing,
Jerry
Jerry, that is pretty much what happened.
I generally don’t deal with banks. What little I have in the train fund, I keep in a coffee can buried under a tree in the back 40. Not that I have 40 acres, but you get the idea.
I dated a girl in high school whose father ran one of the banks in town. I didn’t like the way he talked. He didn’t much like me, either. I think we both showed good judgment. :lol: