Rewire the Postal Service: Banking Goes Postal

In many countries, it is not uncommon for the postal service to offer savings accounts. These often serve low-income populations with small savings who may not get the best deal from checking accounts geared toward salaried 9-5ers.  The U.S. Postal Service formerly had such a system, offering savings accounts from 1911 – 1966 that paid out 2% annually on deposits. This might be just the moment to reinstate a postal savings account system. Personal savings are increasing while banks are cutting down on the freebies and easy access to checking and savings accounts that proliferated before the economic downturn (free checking and savings accounts are often only for students and direct deposit users). Free and easy bank accounts could go a long ways towards reducing the poor’s reliance on check cashing services that skim off a percentage of their earnings and could increase their personal savings rate. There’s also the […]

CIA's Black Cloak and Dagger Initiation Ceremony

An interesting aspect of American life is the goverment disclosues all kinds of conspiracies from assanating leaders to selling nuclear weapons to Iran. There’s no need to look for secret or classfied documents to find oddities, conspiracies, and strangeness. I’d consider the CIA’s official website to share a  fairly accurate history of  the CIA, at least what “they” want us to know. A curious article on the agency’s founding: At lunch today in the White House, with only members of the Staff present, Rear Admiral Sidney Souers and I were presented [by President Truman] with black cloaks, black hats, and wooden daggers, and the President read an amusing directive to us outlining some of our duties in the Central Intelligence Agency [sic], ‘Cloak and Dagger Group of Snoopers’.” With this whimsical ceremony, President Truman christened Admiral Soeurs as the first Director of Central Intelligence. I guess that could be called ‘whimsical.’ […]