The call goes up in Rhode Island for a public bank

Wall Street bull


The benefits of public banking are now making their way into conversations all over the country. Former history teacher Joe Clifford makes a call for a public bank of Rhode Island in a recent article in GoLocal:

“The most successful bank in this country is a public bank owned by the citizens of North Dakota. [It’s] the best kept secret in the country. … If you live in Rhode Island would it not be prudent to have a bank owned by the citizens of the state, overseen by the citizenry, and not interested in profit? Imagine the savings of the just-approved bond issues if RI had a public bank.”

Clifford continues:

"Do citizens have a problem with keeping the money in Rhode Island and not sending your money to Wall Street and large banks at loansharking rates? Perhaps it would be fiscally prudent for Rhode Island to get on the bandwagon, avoid the middleman, and finance improvements for our state, at reduced rates. Think different!”

[Read the full article]

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