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Santa Fe

Financial Turn-Around Starts Here: A Public Bank For Santa Fe

March 9, 2016 Nichoe Lichen, www.greenfiretimes.com , ,
By Nichoe Lichen for Green Fire Times - The crash of 2008 just keeps on giving. We didn’t make it happen, but somehow it’s ours to fix. Historically, governments look to raising taxes and cutting jobs and services to “fix the problem.” So it goes in the city of Santa Fe this year. This may be a short-term necessity, given the city’s current financial crisis, but Banking on New Mexico believes the time is right for a better long-term strategy that includes a public bank that will invest our public funds—interest earned from those taxes, fees and fines we all pay—back into our community.

City Could Save Money With Public Bank, Study Finds

January 16, 2016 Bruce Krasnow, www.santafenewmexican.com , , ,
By Bruce Krasnow for The New Mexican - A feasibility study released Wednesday concluded that the city of Santa Fe could save money by establishing a public bank. Currently, when the city needs money to build roads, recreation centers, sewer lines, libraries or senior centers, it has to make its case to big investment firms and mutual funds that buy municipal bonds. A debt package is compiled, analyzed, rated and then advertised — and whichever financial institution offers the lowest interest rate gets to loan the city money.

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