Group pushing Pennsylvania-owned bank that would use state money to make partnership loans with community banks

Patricia Sabatini • Pittsburgh post-gazette.com • November 18, 2011

The Public Banking Institute, a non-profit based in Sonoma, Calif., was launched in January to study and promote the idea of government-owned banks. Mike Krauss is a director of the institute and chairman of the Pennsylvania Project in charge of rallying support for a state-owned bank in Pennsylvania. He began his involvement with the institute through its president, Ellen Brown, who wrote a book, “The Web of Debt” about the banking industry. Mr. Krauss, 62, who works as a consultant in international logistics, talked with the Pittsburgh Post-Gazette this week about the institute’s efforts.

Q: How many other state-level organizations does the institute have like the one in Pennsylvania?

A: About 20 that are really active. Most are identified on the public banking website [www.publicbankinginstitute.org]. We’re not lobbying legislators right now. We are going to launch a public education campaign.

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