PUBLIC STATE BANKS OR WALL STREET BANKS: THE CHOICE IS OURS
If you missed last Saturday’s “Banking for We the People” call, then you missed a great discussion about an elegant yet simple economic solution, which helps states save huge sums of taxpayer dollars and shores up local economies.
We heard from Rocky Anderson and Ellen Brown, the foremost thought leader in the country today on the issue of Public Banking. Ellen talked about the North Dakota state bank, which helped that state survive–without incident–the 2008 Wall Street-created economic crash that brought other states to their knees.
Economics is not the sexiest subject, but we all know that it is at the root of much injustice for a growing community of Americans. Public banks in the model of North Dakota’s provide competition and huge savings compared to Wall Street banks, which use our taxpayer dollars for their private benefit while providing no public benefit. Not only do we not benefit in the profit-making, we are left holding the bag when their risky investments fail.
We think once a person understands how public banks work, there will be very few, if any, who won’t support the development of public state banks. After you listen to the recording, please enter any questions or comments you might have in the comments box at the bottom of this page. While you’re there, check out the background material we’ve provided to increase understanding.