The Rationale for State-Owned Banks

The Rationale for State-Owned Banks
Lorenzo A. Canizares, Reader Supported News • 10  July 2010

Michigan has an unemployment rate of 14 percent, and has been particularly hard hit by the economic downturn. Verg Bernero, Mayor of Lansing, the state’s capital, and a leading Democratic candidate for governor, proposes to relieve the state’s economic ills by opening a state-owned bank. He says the bank could protect consumers by making low-interest loans to those most in need, including students and small businesses; it could also help community banks by buying mortgages off their books and working with them to fund development projects.

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One Response

  1. Hi Ellen,the best rationale for Public/State Own Banks is “Common Sense” why pay Economic Kings(They have replace 1776 England) for something we can do ourselfs! We learn to vote,we can learn to invest.And we would respect our hard earn money a lot better than these Economic Kings! We need them like we need a hole in the head. Common Sense is the only rationale we need. THANKS

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