A newly released memo from the banking giant Wells Fargo outlines a predatory scheme to dismantle the USPS: sell off profitable parts, slash union jobs, and raise prices by up to 140 percent.
  • IronJess@lemmy.todayEnglish
    0·
    2 years ago

    Stupidy, if Wells Fargo weren’t greedy dumbasses they could intergrat there banking into the Post Office.

  • RedWeasel@lemmy.worldEnglish
    0·
    2 years ago

    If I was put in charge of a privatized Post Office I 'd start by stopping regular mail service and focus on packages. Just not profitable enough.

    • gravitas_deficiency@sh.itjust.worksEnglish
      0·
      2 years ago

      It’s a public fucking service. It’s not supposed to be profitable. It was never intended to be profitable. Asking “but where’s the profit” about fucking EVERYTHING is literally the cancer that’s killing our civilization in general, and this country in particular.

      • RedWeasel@lemmy.worldEnglish
        0·
        2 years ago

        I agree. I am was just talking about a hypothetical privatized postal co. It is a service. Imagine how many people would send Christmas cards at $10 a card.

        • gravitas_deficiency@sh.itjust.worksEnglish
          0·
          2 years ago

          The vast, VAST majority of physical letters that are sent out these days are mass mailers from corporations or hard copy documents. I’d be willing to bet that the average zoomer has probably sent less than 10 actual letters in their life.

      • Joeffect@lemmy.world
        0·
        2 years ago

        And that’s what they mean when they want to run the government like a business… It’s been clear from the current administration that their goal is to get rid of everything that doesn’t bring in profit… Because the numbers must go up… It’s so frustrating… This is just another level… The business’s that lobby to make everything shitty are now trying to cut out the middle man I guess…

    • MrTomS@lemmy.world
      0·
      2 years ago

      Some things -and I know this is wild- do not need to be profitable! Courts, fire departments, schools… There are segments of a functioning society that have nothing to do with making money! I know it sounds Cuckoo bananas and like some woke Marxist shit but those beloved Founding Fathers they talk about on Fox News wrote about weird ideas like “Common Defense” and “General Welfare” and “Pursuit of Happiness” Not so much on profitability.

    • Prox@lemmy.world
      0·
      2 years ago

      Thank you for articulating one of the many reasons that it should not be privatized.

  • greenfire@lemmings.worldEnglish
    0·
    2 years ago

    People, shall we plot to eliminate Wells Fargo as a banking entity? Sign up for a local credit union instead, perchance?

  • bambam@piefed.socialEnglish
    0·
    2 years ago

    Democrats need to inject FUD into all privatization efforts, by saying they will investigate and reverse it if it happens.

  • jjjalljs@ttrpg.network
    0·
    2 years ago

    I’d like to privatize Wells Fargo, where I also mean “dismantle and leave behind an unrecognizable corpse”

  • Queen HawlSera@lemm.eeEnglish
    0·
    2 years ago

    Who more qualified than a company that is banned from doing business in some parts of the US due to being caught defrauding customers?

  • JaggedRobotPubes@lemmy.worldEnglish
    0·
    2 years ago

    Wells Fargo are thieves who steal from their customers. If you use them, you’re about 15 years delayed in getting out. Security issue.

    • ameancow@lemmy.worlddeleted by creatorEnglish
      0·
      2 years ago

      I had a teller LITERALLY try to steal money from me.

      A number of years back I was depositing cash from doing some side-hustle party entertainment work, I counted the cash, handed the cash to the teller and he counted it off, and it was short $100.

      The thing was, I was doing magic tricks at parties, I had taught myself a bunch of very basic card tricks and slight-of-hand, not amazing but well enough to impress grade-schoolers, so I caught when the teller did a thing with his hands as he counted, he seemed to palm a bill and I felt immediate unease and wasn’t sure what to do, so I called the manager over and my partner and got the attention of another teller, I figured if I got enough people around he couldn’t pull any further tricks. I said we were “missing” a 100-dollar bill, and the teller acted really confused, pretended to look everywhere, then suddenly the missing bill “appeared” in his drawer. I let it go because I just wanted to go home.

      I can even forgive that, that’s one person, not an entire institution. I wouldn’t have a gripe with Wells Fargo if that was all that ever happened. But they did things later on in my life like when I rented a car, they sent me on an overdraft-fee spiral that made my account -$5000 by the time I called the bank. They undid the erroneous charges after lots of shouting.

      Later on, I had no choice but to finance a vehicle through WF, I will save the whole, long, horrible story and the shouting matches, but to give an idea how bad-faith they are, they fucking REFUNDED ME THE ENTIRE CAR with a series of “apology checks” over a period of three years after they repossessed it wrongly.

      The only reason I didn’t lose tens of thousands of dollars to Wells Fargo is because I learned to fight, fight and scream and yell when they tried to scam me. This shouldn’t be on the customer to be aggressive and angry just to guarantee normal business.

  • Apocalypteroid@lemmy.world
    0·
    2 years ago

    It’s gone so well for us in the UK, I can’t imagine the entire organisation being asset stripped and then held for random at the taxpayer’s expense.