More States May Create Public Banks
By Ellen Brown
May 13, 2010
By 2011, only one state will have escaped the credit crunch that is pushing other states toward insolvency: North Dakota. North Dakota is also the only state that owns its own bank. The state has its own credit machine, making it independent of the Wall Street banking crisis that has infected the rest of the country.
Now, several states are either studying the prospects of a state-owned bank or are considering legislation to make one possible.
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