Occupy Bozeman talks to public about alternatives to ‘big banks’ — a state-owned bank!

Christina Lysacek • http://www.newsworks.org • April 29, 2012

Educating the community about alternatives to ‘big banks’, such as public banks, is what the Occupy Bozeman group hoped to accomplish at their public discussion this afternoon.

“Rather than having our state take all of the taxes and fees and put it into an account at U.S. Bank, like we do right now, the state has its own bank that it makes its deposits into, and then those deposits can be leveraged to create loans for people here in Montana,” explained Josh Davis, an Occupy Bozeman Member as well as the Montana contact for the Public Banking Institute.

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State bank might not fit all but works for N.D.

Jill Schramm • http://www.newsworks.org • May 3, 2012

North Dakota’s state-owned bank captured national attention a few years ago after a banking crisis and recession caused Americans to consider North Dakota’s contrasting prosperity. Although no state yet has followed North Dakota’s example and created a government-run bank, interest in the idea hasn’t waned.

Eric Hardmeyer, president of the Bank of North Dakota, and Rick Clayburgh, president of the North Dakota Bankers Association, both Bismarck, spoke last month via teleconference about the state bank at an event that drew a national and international audience.

The Public Banking Institute, an educational nonprofit organization, reports 17 states have introduced legislation to create publicly owned banks or derivations, or for studies or task forces to determine how a publicly owned bank would operate in their jurisdictions.

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PBI (Public Banking Institute) Philly conference focuses on public banking as means to benefit majority

Elizabeth Fiedler • http://www.newsworks.org • April 27, 2012

Grassroots organizers and politicians are among those who gathered Friday at the Friends Center in Philadelphia to learn about public banks and how to create them.

Participants are learning a lot about the Bank of North Dakota, said Walt McRee, a senior consultant with the Public Banking Institute, the nonprofit that’s hosting the conference, “A state that had no fallout from the 2008 financial collapse, has a substantial budget, the lowest unemployment in the nation, the highest number of community banks per capita in the country — all because it doesn’t send its money to Wall Street,” McRee said. “It keeps all of the tax money and all of the revenues that come in through normal state operations.”

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