Why Shouldn’t The People Own The Banks?

By Michelle Chen, The Nation. -

Even as the pandemic devastated New York City, megabanks like JPMorgan Chase and Bank of America continued to do a roaring trade. And now those financial behemoths are set to manage the funds [...]

Public Banking Can Improve The Lives Of Workers And Help Save The Planet

The movement to create public banks is gaining ground in many parts of the U.S., particularly as part of an effort among activists and progressive lawmakers to extend banking access to low-income [...]

Why The Fed Needs Public Banks

By Ellen Brown, ScheerPost.com. -

On November 20, US Treasury Secretary Steven Mnuchin informed Federal Reserve Chairman Jerome Powell that he would not extend five of the Special Purpose Vehicles (SPVs) set up last spring to [...]

World’s Public Banks Gathered At First-Ever Summit

By Andrea Germanos, Commondreams. -

"There is no excuse for the continued funding of billions of dollars in coal, gas, or oil projects. This must stop now," Sophie Richmond, a coordinator with Big Shift Global, said in a [...]

Neoliberalism’s Death Knell?

By Michael Hudson, Information Clearinghouse. -

In the latest It’s Our Money podcast, PBI Chair Ellen Brown and co-host Walt McRee speak with renowned economist Michael Hudson, member of the Public Banking Institute Advisory Board. Walt [...]

How A Public Bank Could Free S.F.’s Money From Wall Street

By Ida Mojadad, Sfweekly.com -

Of all the vivid characters in Hustlers, from Jennifer Lopez’s magnetic Ramona to Cardi B portraying her own lived experience, the 2008 financial crash is the one that will be familiar to most [...]

Opening The Public Bank Floodgates

By Staff, Publicbankinginstitute.org -

“These [public] banks could follow in the footsteps of the German KfW Group, a collection of state-owned infrastructure banks that directed more than one-third of its funds to climate and [...]

Los Angeles And San Francisco Announce They Are Moving Forward With Plans To Start Public Banks

By Staff, Publicbankinginstitute.org -

Close on the heels of the Public Banking Act being signed into law last week, LA City Council President Herb Wesson announced he will be introducing a motion within the week to hire a banking [...]

100 Years Ago, Farmers And Socialists Established The Country’s First Modern Public Bank

By Thomas M. Hanna and Adam Simpson, Inthesetimes.com -

One hundred years ago July 28, a bank in Bismarck, N.D., opened its doors for the very first time. This would have been an unremarkable event, likely lost to history, except for the fact that it [...]

Wall Street Beware: The Public Banking Movement Is Coming For You

By Robert R. Raymond, Truthout.org -

It may not come as a surprise to hear that the majority of Americans don’t trust the banking system in this country. Only 27 percent of those surveyed in a 2016 Gallup poll said they had “a great [...]

100 Years: The Bank Of North Dakota (Part II)

By the Bank of North Dakota -

While the Bank of North Dakota attempted to establish itself on a firm and responsible foundation, difficulties arose from three fronts: First, the League-owned Scandinavian American Bank of [...]

A Green & Just Transition Requires Democratized Public Banks – Costa Rica Style

By  Thomas Marois, Open Democracy -

Public banks, in particular, are shown to have much greater financial capacity than commonly believed. Whereas the IATF 2019 Report claims there is only $5 trillion in combined public bank assets [...]

The Bankers’ ‘Power Revolution’: How the Government Got Shackled by Debt

By Ellen Brown, Web of Debt. -

US debt is unnecessary. has been financially sovereign ever since President Franklin D. Roosevelt took the dollar off the gold standard domestically in 1933. This was recognized by Beardsley [...]

Divest From Banks That Fuel Climate Change, Establish Public Bank

By Erik McGregor. -

New York, NY – As global leaders assemble for the 4th Annual Climate Finance Day, New Yorkers, including representatives from environmental, community and student groups, held a rally at City [...]

The United States Is More Socialist Than You Know

By Margaret Flowers and Kevin Zeese, Clearing the FOG. -

Compared to other wealthy countries, large sectors of the US economy are more socialized than is realized. From energy to water to transportation, land and more, and from cities and states to the [...]

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