Tuesday, December 30, 2014

Public banks are good for nearly everyone - except the biggest banks

On Dec 30, 2014 12:07 PM, "Public Banking Institute" <info@publicbankinginstitute.org> wrote:
Public Banking Institute

Dear Lynda --

As 2014 winds down, there is still time to make a difference.  With your support, we can transform our economy and create a foundation for real lasting prosperity.

In the last few years we have seen many companies get into the banking business, from JP Morgan to Walmart.  These companies understand the tremendous power that banking and leveraging money offers.  Why don't we the people create our own banks as well to better take control of our economic destiny? 

While almost half the states in the US have tried to enact legislation to move toward public banking in the last 4 years, Wall Street lobbyists have vigorously opposed each and every effort, and the result is that we still have just one public bank in the US - in North Dakota.  Public banks are good for nearly everyone - except the biggest banks.

  • From low-interest student loans, business loans, and home loans;

  • to supporting robust regional economies;

  • to facilitating huge infrastructure project savings;

  • to supporting a robust community banking sector;

  • to creating jobs;

  • and reducing government debt...

...public banks allow us to enjoy benefits that seem almost too good to be true.  But they are real and attainable!

Since we were founded just four years ago, we have gone up against the most well funded industry in the world - the financial industry - and we have made definite progress.  Public banking is now truly part of our national discussion - we led a debate in the New York Times in 2013, got headline stories in the Wall Street Journaland Salon.com in 2014 (among extensive other media coverage), and are now being deluged with requests for information and support from around the world.

We at PBI are now supporting chapters around the nation and public banking initiatives from Santa Fe to Seattle, from San Francisco to Colorado to Minnesota to Philadelphia to Vermont, with a brand new strategy designed to overcome the resistance of the big banks.  

We are educating the public, including bankers and legislators, with easy to take courses on a variety of subjects at the New Economy Academy.

We are launching a major national conference in November 2015 during primary season near Bretton Woods New Hampshire, to bring together new economy groups to address the fundamental issue of our time - our monetary and banking systems - and to create a powerful synergistic plan to move forward.  Our complete summary of 2014 progress and 2015 plans is found here.

If you knew how much we have done on extremely tiny budgets to date, you would be amazed.  2015 can be a pivotal year for public banking, but to take our work to the next level, we need your support at a whole new level.  Every donation from $5 to $5000 matters to us - and allows us to create more powerful and lasting impact for a prosperous future.

Don’t forget to make your tax deductible donation by December 31, 2014 to help create public banks and sustainable prosperity around the nation.

Thank you for your support in 2014!

Wishing you a Happy New Year,

Gwen Hallsmith, Executive Director

Public Banking Institute


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