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January 12, 2013     

public banks

Submitted by Michael Dewey
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Public Banks: helping workers by helping people: click here

Public banks at the state, county or municipal level are capitalized with public funds, which are then leveraged in partnership with local, community banks and municipal governments to provide the  sustained and affordable credit that is essential for economic development and jobs creation in the modern economy.

The profits of such a bank are returned to its one and only shareholder -- the people -- as non tax revenue. These banks are managed by civil servants who receive no outsized salaries, bonuses or commisions -- no incentive to take the reckless risks that crashed Wall Street.


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