Public banks — banks owned by the public — have been shown to respond more rapidly, effectively and equitably to crises than privately-owned banks. The public is invited to learn how at an informative Town Hall titled “Bring On the Power of Public Banking: How to Rescue Main Street Post COVID-19,” hosted by the Public Banking Institute and supporters in Florida on October 8 at 7 pm ET and in Chico, California on Oct 22 at 6:00 pm PT.
Even after the CARES stimulus package, states and cities face serious budget crises and communities are struggling to survive, in the wake of mass unemployment, exploding costs, and plummeting tax revenues. Interest rates on municipal bonds have shot up, while interest rates for banks have dropped virtually to zero. What can states and cities do? Form their own publicly-owned banks.
Town Hall panelists will examine how a public bank could become a real financial lifeline to struggling communities desperate for funds, by staving off economic disaster and jump-starting the economy.
Panelists in Florida include: Tim Canova, Professor of Law and Public Finance, Nova Southeastern University Shepard Broad College of Law; Ellen Brown, PBI Chair; Walt McRee, PBI Chair Emeritus; and Dr. Amara Enyia, public policy expert on city and state policy and PBI Advisory Board member.