The public banking movement received a lift the past couple weeks with allegations about Wells Fargo inflating its profits by creating millions of fake deposit and credit card accounts. Santa Fe City Councilor Renee Villarreal and co-sponsors Joseph Maestas and Carmichael Dominguez have introduced legislation that allows the city to move forward with planning a public bank.Read more
While most taxpayer funds right now are deposited in commercial banks, the mission of a taxpayer-owned bank would be to create a new financial institution that could hold those deposits without having to involve the commercial banks. Meet the PBI coordinator spearheading this effort for the state of New Jersey.Read more
On Tuesday, September 27th, Public Banking Institute founder, attorney, and author Ellen Brown will speak at Ralph Nader’s Breaking Through Power conference in Washington D.C. She will lead a presentation on Public Banking at 3:20pm at the Carnegie Institution of Washington.
On Saturday, September 24th, at 12:00pm Pacific, Ellen will also be a guest on the Ralph Nader Radio Hour.
The recent kerfuffle over private health insurance companies refusing to accommodate those with plans acquired through the Affordable Care Act exchanges has exposed a glaring issue -- why don't we have a public option to compete with private health insurance profiteers?
The same could be said for banking, as well.Read more
The key concern over the Trans-Pacific Partnership is its potential effects on the public's right to control common assets. Both the treaty and its underlying economic philosophy are blatantly hostile to state-owned enterprises and, in the larger sense, the idea of noncommercial or extracommercial economic activity, even when such activity may be necessary to create stable markets.Read more
The bulk of new policy demands from the Black Lives Matter movement are economic demands--not moral pleas for people to stop being racist or stop purveying or facilitating violence against people of color (although those demands are necessary), but demands for economic security, because economic insecurity makes historically disenfranchised communities more vulnerable to violence and exploitation. These demands include a Universal Basic Income--a policy increasingly embraced by everyone from technology experts to economic justice advocates.