After the 2008 financial crisis, many people around our country pointed to the Bank of North Dakota as a model to use in other states. Public-banking advocates say that like North Dakota, a state bank would "create economic sustainability in Vermont by partnering with community banks and engaging in other activities that would leverage state funds to promote economic well-being in the state." The people of Vermont have the right idea – if the legislators won't stand up to the banksters, we will – and we can do it by making banking the boring business that it should be.
Friday, March 14, 2014
Vermont Wants Public Banking
Last week, at least twenty town meetings in that state voted on creating a state bank, and most results were an overwhelming "yes." The group, Vermonters for a New Economy urged residents to petition local governments to turn the Vermont Economic Development Authority into a public bank, and it turns out that that idea is pretty popular.
at 3/14/2014 02:00:00 PM