Waking up to common sense? Breaking the web of debt: More US states realizing that creating their own bank is key to creating jobs and building sustainable prosperity

Jim Salt • Salt Spring News • May 20, 2011

…We do have a nice return—an NROA [return on net operating assets] of 2, a ROE [return on equity] of 25, 26 percent. But really where we take the most satisfaction is making sure we meet the needs of the state and finance those types of things that make our state go forward. – Bank of North Dakota president, Eric Hardmeyer

California joins eleven other states that have introduced bills to form state-owned banks or to study their feasibility. Eight of these bills were introduced just since January, including in Oregon, Washington State, Massachusetts, Arizona, Maryland, New Mexico, Maine and California. Illinois, Virginia, Hawaii and Louisiana introduced similar bills in 2010. What California can do with its own bank, other states can do as well, on a scale proportionate to their populations and economies. – Ellen Brown

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  1. […] via Waking up to common sense? Breaking the web of debt: More US states realizing that creating their ow…. […]

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