State-Owned Banks as a Way to Rebuild the Housing and Real Estate Markets
Bruce B. Cahan • The Center for Internet & Society (CIS) • August 29, 2010
The financial literacy of America has improved markedly, nearly to college level, as a result of the global recession that started in 2007. What about state-owned banks, is the time ripe to explore that part of economic history?
Our nation’s financial life experience includes state-owned banks. At stateownedbanks.com, I am exploring and sharing the history of banks owned by government for their citizens in the United States and around the world. State-owned banks aren’t socialism. They are precedent from our own Colonial Era, and were familiar to our own Constitutional Congress. The Bank of North America refinanced the Revolutionary War debt amassed in fighting the British for independence. Today, the Bank of North Dakota is a state-owned bank, serving the state government’s needs for banking services. Ellen Brown, author of Web of Debt has championed this history and precedent for years.
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