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Read Up On Public Banks, Then Decide
Recently, several letters have appeared in The New Mexican opposing a public bank for Santa Fe. The key argument is that the bank would be managed by the city. That’s not how a public bank works. As a chartered bank, a public bank would be managed by professional bankers and overseen by a policy-setting board. […]
Pay To Play
In his op-ed (“A public bank for Santa Fe? It’s too expensive,” June 12), Jim Lodes suggested that instead of establishing a public bank, Santa Fe could earn better interest investing in New Mexico’s State Investment Council fund. He’s right that Santa Fe doesn’t invest in the SIC fund. That’s because city policy prohibits investments […]
Better Banking, Funding
After I read Dan Metzger’s opinion piece (“Santa Fe could use a public bank,” My View, April 24), I understood why a public bank would be good for Santa Fe. I know the city often borrows money to pay for parks, roads and other public projects we citizens use and enjoy. Before reading Mr. Metzger’s […]
Banking Sense
I recently attended a meeting about starting a public bank in Santa Fe. What I learned is that it is hard to understand how a public bank works because the structure is so simple. A public bank would be owned by the city and managed by professional bankers under the authority of a public board. […]
Ten Questions (and Then Some) for Minneapolis Fed’s Neel Kashkari
MINNEAPOLIS — Neel Kashkari knows a thing or two about financial crises. As overseer of the Troubled Asset Relief Program in the Bush Treasury in 2008, he was on the front lines of the confused and somewhat improvisational government response to an abrupt meltdown of the global financial system.
In his first public speech as president of Federal Reserve Bank of Minneapolis — a post he assumed late last year — he staked out the provocative position that not enough has been done since the crisis to resolve the biggest banks or avert a similar meltdown if
Seeing Something Cool
I recently read about the Santa Fe Civic Housing Authority exploring the purchase of the old St. Catherine Indian School to renovate it for low- and middle-income housing, a senior living campus or a school (“Housing authority in talks to purchase St. Catherine,” April 18). All such uses could help invigorate the city, reinforcing concepts […]
Another Revolution is coming out of Philadelphia: a Public Bank !
Another Revolution is coming out of Philadelphia: a Public Bank !
The People of Philadelphia Speak Out! (Includes a clear explanation of public banking.)
Scott Deshefy: Public banking can help solve budget crises
In 1935, as Mr. Micawber in “David Copperfield,” comedian and Dickens scholar W.C. Fields underscored financial struggle: “Annual income twenty pounds, annual expenditure nineteen pounds, happiness; annual income twenty pounds, annual expenditure twenty pounds and six, misery.”
Were this Dickens’ London, many of us would be in debtors’ prisons run by CEOs and shareholders the political establishment allows to rig our elections and economy.
Manchester aldermanic committee looks at establishing a ‘public bank’
MANCHESTER — An aldermanic committee charged with determining the viability of establishing a public bank in Manchester will move ahead with its mission, despite statements by the city’s finance director that he is skeptical of the idea.
In March, the Board of Mayor and Aldermen voted to create the Special Committee on Establishing a Manchester Public Bank, based on a suggestion by Ward 4 Alderman Chris Herbert. The committee, consisting of aldermen Kevin Cavanaugh, Ron Ludwig, Dan O’Neil, Bill Barry and Herbert as chairman, held its first meeting on Tuesday.
Bank of North Dakota posts 12th year of record earnings
For the 12th consecutive year, the head of the Bank of North Dakota reported record net income to the nation’s only state-owned bank to state officials.
Eric Hardmeyer, president of Bank of North Dakota, provided the North Dakota Industrial Commission with the bank’s final 2015 annual report on Wednesday. For 2015, the bank reported about $130.7 million in net income, cruising past the $111 million reported for 2014.
“This was a record-setting year for the Bank of North Dakota,” Hardmeyer said. “A lot of growth over the past 10 years.”
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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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