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US273 - Form Public-Owned Banks
| Support the formation of federal, state, and municipal public-owned banks that function as non-profit utilities | |
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Description
Source: jillstein.org
Counterarguments
There are publicly owned banks already. They are called credit unions. I know that the big banks screwed us and they still are doing the screwing but until we as a country put our money out of the big banks and into the credit unions the big banks will still rule the roost. The government has yet to punish any of the big bank leaders for burning down the economies of the world. Why would they be any better at running the banks than they are regulating the ones we have now?
2 Topics
Discussion
started
by GregOrr
on Sep 3
Banking should be a boring by-the-book business
Public banks would focus on basic banking services, providing safe returns to savers and facilitating local investment without much trouble or worry. Making reasonable loans isn't difficult, and public banks wouldn't be allowed to engage in trading or exotic products. Credit unions may serve the same purposes, but we need more trustworthy financial institutions to fill these needs. Public banks may be able to grow in ways that credit unions can't, meaningfully shifting the balance away from Wall Street. Check out US68 - A Financial Public Option for a discussion of the Bank of North Dakota, a big success story.
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was thinking something similar