State Senators, a Gubernatorial Candidate, and a State Senator Candidate All Propose a State Bank for Michigan!

Senate Democrats Propose Developing a Bank to Create Jobs, Grow Small Business and Protect Michigan Consumers
Michigan State Democrats
Press Release

LANSING – Michigan Senate Democrats unveiled an innovative proposal today that would create the Michigan Development Bank. The proposed bank will keep residents’ money in Michigan and put it to work to stimulate the economy and create jobs through increased business lending and protect consumers with reasonable interest rates on loans. Read more.

Democratic gubernatorial candidate Bernero wants to open state bank
Kathy Barks Hoffman / Associated Press
March 09. 2010

Lansing — Lansing Mayor Virg Bernero today proposed having Michigan follow the lead of North Dakota and open a state-owned bank that could make low-interest loans to businesses and college students. The Democratic gubernatorial candidate said the state bank also could ease the foreclosure crisis by buying down mortgage portfolios held by smaller banks in Michigan and partner with other private banks on economic development projects. Read more.

VIDEO: State senate candidate proposes state central bank
Of The Oakland Press
March 3, 2010

One Republican candidate for the state Senate wants to solve Michigan’s economic problems by setting up a central state bank to smooth out the economic ups and downs. Gene Taliercio, one of six Republicans and two Democrats seeking the 12th District state Senate seat, wants to establish the “Bank of Michigan.” Read more.