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The Public Bank Option – Safer, Local and Half the Cost
Phil Murphy, a former banker with a double-digit lead in New Jersey’s race for governor, has made a state-owned bank a centerpiece of his platform. If he wins on November 7, the nation’s second state-owned bank in a century could follow. A UK study published on October 27, 2017 reported that the majority of […]
Regulation Is Killing Community Banks. Public Ownership Can Revive Them.
Ellen Brown | Web of Debt | Oct 30, 2017 Crushing regulations are driving small banks to sell out to the megabanks, a consolidation process that appears to be intentional. Publicly owned banks can help avoid that trend and keep credit flowing in local economies. At his confirmation hearing in January 2017, Treasury Secretary Stephen […]
Yes to Public Banking
Given the often “ungressive” character of its editorial positions, it comes as no surprise that The New Mexican advocates against a public bank for Santa Fe (“City must take care of finances,” Our View, Oct. 13). What is especially unattractive, however, is the condescending tone that is used, calling the public bank effort “a notion” and then […]
The Story of Solutions
The Story of Solutions
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From Free Lunch to Public Banks, These Cities Are Giving Us Hope
Dispatches from the Urban Resistance: Alameda to Elyria and beyond. By Jimmy Tobias | SEPTEMBER 29, 2017 | The Nation The progressive left is at its best when it combines visionary politics with pragmatic action, when it makes people’s lives better in a concrete fashion. Franklin Roosevelt’s Civilian Conservation Corps began as an ambitious idea that […]
Oakland public bank organizers look to fund renewable energy
By Ali Tadayon | East Bay Times | October 6, 2017 OAKLAND — Advocates for a public bank in Oakland are looking to Germany for inspiration, as that country’s public banks fund a large portion of the renewable energydevelopment. During a community forum hosted Sept. 25 by Friends of the Public Bank of Oakland, German […]
Public banking — an idea whose time has come
By Rachel Stofocik and Mark Paris | 9-24-17 | New Mexican Berl Brechner (“Is public banking sound policy for city?,” My View, Sept. 17), is concerned that public banking may be too “complex” in a city “where auditors routinely find flaws.” Brechner and your readers might be interested to know that, according to the “City […]
Is there a public bank solution for Santa Fe?
by George Gamble | September 23, 2017 Is public banking sound policy for Santa Fe? Berl Brechner (“Is public banking sound policy for city?,” My View, Sept. 17), raises an appropriate question, but he appears to be critical of the systematic educational and investigative efforts that the city has been following to answer that question. […]
Wells Fargo’s estimate for unauthorized accounts jumps 67%, to 3.5 million
Sen. Elizabeth Warren (D-Mass.) renewed her call for the Federal Reserve to oust more members of Wells Fargo’s board over the still-growing scandal. And Rep. Maxine Waters (D-Los Angeles), the ranking Democratic member of the House Financial Services Committee, said in a statement that the bank should be broken up.
Mayor, council reluctantly keep Wells Fargo as city’s bank
Councilors, both for and against the measure, expressed trepidation over the extension through 2021, saying the banking giant’s financial support of the Dakota Access Pipeline and fraudulent retail account-creation practices suggested a corporate culture that does not align with the community’s values.
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Episode: Everyone deserves a public bank
“I had the good fortune to work on this initiative before Bernie kidnapped all my time. This is one of those no-brainer initiatives that only the 1% could oppose. It has the potential to save the state millions of dollars by vastly reducing the cost of its bonds to improve infrastructure funding. in a public bank, our state funds can be used to build our local economy and our local infrastructure.”
– Paul Gibson
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