Looking out at hundreds of faces this morning, all interested in the questions being asked in Santa Fe as they consider a public bank for the city, I couldn't help but feel that the time has come. The time has come to rethink banking, to re-evaluate this core function of our economic system. Even though the U.S. Constitution guarantees the people, through Congress, the right to coin money, we have delegated that function to the private sector, for profit, for too long.
Public banks offer us back our birthright - our right as a people to do what we are promised - life, liberty, and the pursuit of happiness. We need to take back our money, we need to rethink banking, we need to reinvigorate our economies from the ground up. Main Street is where most of us work. When Wall Street's corruption and avarice make it impossible for Main Street, it's past time to change the system.
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