PUBLIC BANKING WORKS

Public Banking Works is ...

Public Banks are...

And Are Not...

• Viable solutions to the present economic crises in US states.
• Counter-cyclical, meaning they are capable of reducing the negative impact of recessions, because they can make money available for local governments and businesses precisely when private banks decrease lending.
• Potentially available to any-sized government or community
able to meet the requirements for setting up a bank.
• Owned by the people of a state or community.
• Economically sustainable, because they operate transparently according to applicable banking regulations
• Able to offset pressures for tax increases with returned credit income to the community.
• Ready sources of affordable credit for local governments, eliminating the need for large “rainy day” funds.
• Required to promote the public interest, as defined in their
charters.
• Constitutional, as ruled by the U.S. Supreme Court
• Operated by politicians; rather, they are run by professional
bankers.
• Boondoggles for bank executives; rather, their employees are
salaried public servants (paid by the state, with a transparent pay structure) who would likely not earn bonuses, commissions or fees for generating loans.
• Speculative ventures that maximize profits in the short term,
without regard to the long-term interests of the public.

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1 week ago
RT @MattJStannard: Regardless of outcome of this historic mtg on #publicbanking, everyone's thinking differently about banking now. We (the…
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1 week ago
RT @MattJStannard: If we could simply set up parallel banks within the same #publicbanking institution, California already could have opene…
1 week ago
RT @MattJStannard: Our position slightly different from K. Klowden: sure try to separate them initially but apply for a fed account number…
1 week ago
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