The Public Banking Institute (PBI) is a non-partisan research and advisory organization based in Sonoma, California, dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitating their implementation. See http://PublicBankingInstitute.org. As a non-profit educational entity with Section 501c3 status pending, it is not our principal role to advocate for legislation, but we hope to be able to supply some useful information.
Strike Debt’s Hannah is eloquent re debt! on Tavis Smiley: http://video.pbs.org/video/2365333964/
BANKING ON NEW MEXICO: THE SYMPOSIUM: VIDEO LINKS:
• 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
• 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
• Constitutional, as ruled by the U.S. Supreme Court
• Boondoggles 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.
• Speculative ventures that maximize profits in the short term,
without regard to the long-term interests of the public.