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General News    H2'ed 8/18/13

Moving Beyond Corporate Banking: Public Banking as Reflected in the Work of Ellen Brown

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According to the Public Banking Institute website (link below), public banking is

    • A viable solution to the present economic crises in the United States.

    • Counter-cyclical, meaning they are capable of reducing the negative impact of recessions. The reason: they can make money available for local governments and businesses precisely when private banks decrease lending.

    • Potentially available to any-sized government or community able to meet the requirements for setting up a bank.

    • Owned by the people of a state or community.

    • Economically sustainable, because they operate transparently according to applicable banking regulations

    • Able to offset pressures for tax increases with returned credit income to the community.

    • Ready sources of affordable credit for local governments, eliminating the need for large "rainy day" funds.

    • Required to promote the public interest, as defined in their charters.

    • Constitutional, as ruled by the U.S. Supreme Court

Meanwhile, the Institute states that public banks

  • Are not operated by politicians;

  • Are run by professional bankers.

  • Don't provide big dollars for bank executives; rather, their employees are salaried public servants (paid by the state, with a transparent pay structure) who would likely not earn bonuses, commissions or fees for generating loans.

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Burl Hall is a retired counselor who is living in a Senior Citizen Housing apartment. Burl has one book to his credit, titled "Sophia's Web: A Passionate Call to Heal our Wounded Nature." For more information, search the book on Amazon. (more...)
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