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Public Banks

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.

Public Banks are...
• Viable solutions to the present economic crises in US states.
• 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
and are not
• Operated by politicians; rather, they are run by professional
bankers.
• 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.
Links to Interviews: on the SebraLeaves Channel
Links to different views discussing state banks
Web of Debt articles
Newswithviews.com/Barnewall/marilyn158.htm
Reviving Main Street a call for public banks
Bank of Boston Study on state banks
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