Santa Fe, New Mexico has been on the forefront of the Public Bank movement and, as often is the case, trailblazers become daunted by the task of being trailblazers. So, while the Santa Fe Task Force validated and acknowledged all the many benefits of Public Banking — including keeping public money invested locally, lowering costs for borrowing and lending, and using internal money to finance infrastructure — their final report recommends the task of setting one up would be tackled more appropriately at the state level, rather than city level.
The Santa Fe cause gained many supporters who are now well acquainted with the benefits of a Public Bank, including Glenn Schiffbauer, executive director of the Santa Fe Green Chamber of Commerce, who said in a related Albuquerque Journal article:
“I think it’s a great start and since we do a lot of lobbying (at the state Legislature) we are willing to help in any way we can.”
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