April 29, 2023 A new memo by Earl Staelin, attorney and Chair of the Rocky Mountain Public Banking Institute, argues that FDIC membership and the holding of 100% collateral generally required for a bank charter are “completely unnecessary for public banks that follow the Bank of North Dakota (BND) model and would substantially undermine their profitability and…
Jimmy Tobias of The Nation offers a comprehensive look at city-based public banking efforts in Oakland, California and Santa Fe, New Mexico. He also provides background on the only public bank in the US—the Bank of North Dakota—and offers solid economic reasons why cities and states should consider establishing a public bank. From Seattle to…
During this political season, we have heard a lot about too-big-to-fail banks, corporate greed, politicians on the take, bad trade deals, inequality and … starting a revolution to save the middle class. Just over 100 years ago, at the dawn of the first American Progressive Era, the same conditions sparked a revolution which spread…
In recent weeks, the City of Santa Fe released its public banking feasibility study which showed the city could save millions if it created a local public bank and the City of Philadelphia’s City Council unanimously voted to begin public hearings on creation of a local public bank. Cities, counties and states around the country…
In 2014, the City of Santa Fe authorized a feasibility study to determine if establishing a city public bank would be advantageous. Last week, the feasibility study was released. (You can read it here.) The bottomline: YES! Establishing a Santa Fe public bank would save the city millions of dollars in financing fees paid to…
In one of his first acts as Speaker of the House of Representatives Paul Ryan oversaw doling out $17 million in corporate welfare to Wall Street banks. How did he manage this? The usual sneaky way– by tacking this onto an unrelated piece of “must pass” legislation. (You’ll remember that’s how Republican lawmakers weakened Wall Street…
This week in New Hampshire, our Public Banking Institute colleagues are participating in the Bretton Woods IV Convocation on financial reform. There are four cornerstones to the conference: public banking, the North Country Resolution, local currencies, and Concordian economics. Here are some snippets from the conference website. I am blown away by the comprehensive and…
Ha-Joon Chang is one of the ten most influential world thinkers according to Prospect Magazine. In this brief interview at TheCorner.eu, he is asked if secular stagnation is inevitable. His response is that it is not, but it is important for policy makers to stop vilifying debt. He points out that debt, in and of…
Join the public banking movement in Arizona. We added a supporters’ tab to the top of our page. Click on that link and fill out the very simple form to add your name and/or your group or business name to our supporters page. There is also an option to add your email to our mailing…
Arizonans for a New Economy 