Press Room & Media
In the News
Now’s The Time
Congratulations to Mayor Javier Gonzales for holding firm to the precept that Santa Fe should remain a sanctuary city. A strong majority of Santa Feans heartily agree, despite the fact this ethically based policy could trigger a roughly $6 million reduction in federal support for our city. Given this potential fiscal crunch, there now is […]
A Public Bank for Santa Fe – An Idea Whose Time Has Come!
Dear Santa Fe Councilors & Citizens: As many institutions around this country and the world, particularly commercial banks, are falling apart, Public Banking is an idea whose time has come. Santa Fe’s City Council has an opportunity to lead the way into the future by embracing this new direction and adopting the resolution recently introduced […]
A Stronger Santa Fe
Councilors Renee Villarreal, Carmichael Dominguez and Joseph Maestas are to be applauded for putting forth a resolution to form a task force to further explore the establishment of a public bank for Santa Fe. Structural changes like this can provide the critical missing leverage that helps address far-reaching and seemingly unrelated problems that defy solution […]
A Closer Look
Santa Fe has engaged in serious public bank research and discussions for two years. The pending task force resolution will provide more information. Our city’s 2011-2015 annual financial reports show it spent more than $7 million for bond issuance and fiscal agent costs and committed more than $25 million in interest to Wall Street over […]
Oakland Just Voted to Explore Public Banking
In response to long-term economic instability and disappointment with the mainstream banking system, the Oakland City Council voted Tuesday to investigate a public banking feasibility study funded by money left over from the Goldman Sachs Debarment Proceedings.
Kashkari’s Plan to End TBTF Comes at High Price
Minneapolis Federal Reserve Bank President Neel Kashkari outlined a dramatic proposal that he says will all but eliminate the risk of another financial crisis, albeit at a cost that is nearly quadruple that of the current post-crisis regulatory framework.
Three Federal Studies Show Fed’s Stress Tests of Big Banks Are Just a Placebo
The only thing standing between the American people and another apocalyptic financial collapse among by the biggest banks on Wall Street is the Federal Reserve’s stress tests and capital requirements. After Wall Street laid waste to the U.S. housing market and economy from 2008 through 2010, while propping itself back up with a feeding tube from the taxpayers’ pocketbook, the Obama administration passed the Dodd-Frank financial reform legislation in 2010.
Future Banking
Councilor Renee Villarreal, supported by Councilors Carmichael Dominguez and Joseph Maestas, has introduced a resolution to take the next steps toward establishing a public bank for Santa Fe. The process began in October 2014 and has now culminated in a feasibility study that found in favor of implementing a public bank that would hold the […]
Public bank idea returns for more discussion
SANTA FE, N.M. — Creating a public bank in Santa Fe – an outside-the-box idea that has been kicking around since Mayor Javier Gonzales first raised it during his election campaign in 2014 – is coming back for a new round of public discussion.
Serving Safely
Hats off to John Chiang, California state treasurer, who is taking his responsibility to the people of his state seriously. In a letter to Wells Fargo, withdrawing all California funds, Chiang asked, “How can I continue to entrust the public’s money to an organization which has shown so little regard for the legions of Californians […]
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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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