I favor a common foreign idea of setting up post offices to handle simple small savings accounts. (We would have to be vigilant to prevent mission creep into business properly belonging to commercial banks.) On a previous occasion when I mentioned the idea, a fellow poster asked me how I would make it pay. I answer that it should be subsidized if necessary as basic infrastructure, like free universal primary and secondary education. Income tax laws could also be updated to encourage a start in savings. I suspect this would be more cost-effective than some other social programs.

In a way, it’s a shame this happened now. I would very much have enjoyed having choke-point methodology applied to any bank that provided loans to political parties.