A Model for a State-Owned Bank

A Model for a State-Owned Bank
abovetopsecret.com posted by Mary Rose • 30 July 2010

Florida will be having an election for Governor in November of this year. One of the candidates, Farid Khavari, has as part of his platform a state-owned Bank of Florida. He states that the money this bank would earn would go into the State Treasury, and proposes the following formula:

  • 2%, 15-years mortgage
  • 2% energy loans
  • 2% student loans
  • 3% car loans
  • 3% business loans
  • 6% credit cards
  • 6% CDs

I am of the opinion that creating banks owned by the government (the people) is the only hope we have for turning the global meltdown around.

See the entire article here.

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3 Responses

  1. Mary ,i support the offers of Mr.Khavari State Bank. I support anything that will get us closer to getting rid of the “Profit God”. profit has almost destroy the earth.We need an economic system that give 0% loans at non-profit costs.Profit is a man made idea that has proven to be “very-very bad”.A state bank is a good idea with room for improvement. I support it.

  2. Where is the outrage from the right (and some on the left) that our political system is bought and paid for by the wealthy Fat Cats who couldn’t get enough from GDP growth, that they had to have politicians deregulate banking so they could capture cash from our retirement accounts? And pass laws like NAFTA and CAFTA so they could outsource American jobs to $1 per hour countries and pocket the rest? And run wars in Iraq, Afghanistan and Pakistan because the defense industry pads their pockets?

  3. Not a panacea, but certainly a good idea.

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