It's time to put a Forever stamp on this public jewel.
Investigative reporter Greg Palast is usually pretty good at peering behind the rhetoric and seeing what is really going on. But in tearing into Sen. Elizabeth Warren’s support of postal financial services, he has done a serious disservice to the underdogs -- both the underbanked and the U.S. Postal Service itself.
Sen. Elizabeth Warren endorsed a proposal by the United States Postal Service's inspector general over the weekend that could prevent the poor from having to shell out billions of dollars in fees and maybe even save the post office from sinking.
Necessary banking services the post office performed efficiently in the past, such as infrastructure funding, serving the "underbanked," and providing a safe place to save your money, could be revived with a single legislative stroke.
Pretty soon, you may have to walk all the way to your curb or a neighborhood "cluster box" to pick up the latest unsolicited coupons.
The National Association of Letter Carriers is investigating the possibility of establishing a postal banking system, a time-tested, internationally proven way to maintain profitability that could save the post office.
A look at the day's political happenings, including congressional action on student loan rates and Glenn Beck trying to profit off of the Supreme Court's Obamacare ruling.
The money-losing USPS is offering buyouts to 45,000 mail handlers as it moves to slash its payroll and cut the number of processing centers around the country by nearly half.
Facing a shortfall of a few billion dollars, the U.S. Postal Service is planning to drop 220,000 full-time jobs and close 3,700 post offices and 300 processing centers by 2015, while scaling back services and cutting retirement benefits. And that's after laying off 110,000 employees since 2007. (more)