Solvency: how state-owned banks end interest costs on state debt ($5 billion/year for CA)
Carl Herman • examiner.com • September 4, 2009
Only two states are currently solvent; North Dakota is one. What makes North Dakota different is that they have a state-owned bank. The advantage of a state-owned bank is to return profits to the public and/or minimize borrowing costs for the state and whatever portion of the public the state chooses as borrowers (North Dakota provides credit at the lowest costs for student loans and to farmers, for example).
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