iOS app Android app

Public Banking

The Looming Foreclosure Crisis: As the Fed Runs Out of Bullets, Local Governments Step In

Ellen Brown | Posted 07.08.2014 | Business
Ellen Brown

Mortgage debt overhang from the housing bust has meant lack of middle-class spending power and consumer demand, preventing the economy from growing.

California's Top-Two Primary Eliminates Third-Party Rivals

Ellen Brown | Posted 06.09.2014 | Politics
Ellen Brown

For all elections, public financing is needed, in order to ensure that voters hear from all candidates rather than just the most well-funded.

Robbing Main Street to Prop Up Wall Street: Why Jerry Brown's Rainy Day Fund Is a Bad Idea

Ellen Brown | Posted 07.07.2014 | Politics
Ellen Brown

There is no need to sequester funds urgently needed by Main Street to pay for Wall Street's malfeasance. Californians can have their cake and eat it too - with a state-owned bank.

Banking Union Time Bomb: Eurocrats Authorize Bailouts and Bail-Ins

Ellen Brown | Posted 05.31.2014 | Business
Ellen Brown

On March 20, 2014, European Union officials reached an historic agreement to create a single agency to handle failing banks. Media attention has focused on the agreement involving the single resolution mechanism, a uniform system for closing failed banks.

New Report Reveals How Wall Street Impoverishes Los Angeles

Les Leopold | Posted 05.25.2014 | Politics
Les Leopold

None of this will come easy. But this report lights the way. It should be repeated in city after city, in state after state, so that everyone can see just how Wall Street is impoverishing the richest country on Earth.

Warren's Post Office Proposal: Palast Aims at the Wrong Target

Ellen Brown | Posted 05.18.2014 | Business
Ellen Brown

Investigative reporter Greg Palast is usually pretty good at peering behind the rhetoric and seeing what is really going on. But in tearing into Senator Elizabeth Warren's support of postal financial services, he has done a serious disservice to the underdogs.

Lucrative Returns on Phantom Money: The Credit Card Gravy Train

Ellen Brown | Posted 04.20.2014 | Money
Ellen Brown

Even when the balance is paid on time every month, credit card use imposes a huge hidden cost on users -- hidden because the cost is deducted from what the merchant receives, then passed on to you in the form of higher prices.

100 Years Is Enough: Time to Make the Fed a Public Utility

Ellen Brown | Posted 02.22.2014 | Politics
Ellen Brown

December 23, 2013, marks the 100th anniversary of the Federal Reserve, warranting a review of its performance. Has it achieved the purposes for which it was designed?

The Bank Guarantee That Bankrupted Ireland

Ellen Brown | Posted 01.23.2014 | Business
Ellen Brown

The Irish have a long history of being tyrannized, exploited, and oppressed -- from the forced conversion to Christianity in the Dark Ages, to slave t...

A Credit Union in Puget Sound Elects a Different Future

Carl Gibson | Posted 01.23.2014 | Business
Carl Gibson

The lobby of the Puget Sound Cooperative Credit Union (PSCCU) in Vashon Island, Wash., is unusual for a financial institution -- it was more like the ...

What We Could Do With a Postal Savings Bank: Infrastructure That Doesn't Cost Taxpayers a Dime

Ellen Brown | Posted 09.23.2013 | Business
Ellen Brown

The U.S. Postal Service (USPS) is the nation's second largest civilian employer after Walmart. Although successfully self-funded throughout its long h...

How Wall Street Devoured the Recovery

Les Leopold | Posted 11.20.2013 | Business
Les Leopold

Our new economic era is characterized by the supremacy of financial capital which vacuums up the productive wealth of the nation, and then uses the nation's wealth as an insurance policy to pay for its inevitable losses.

The Armageddon Looting Machine: The Looming Mass Destruction From Derivatives

Ellen Brown | Posted 11.18.2013 | Business
Ellen Brown

Increased regulation and low interest rates are driving lending from the regulated commercial banking system into the unregulated shadow banking system.

The Detroit Bail-in Template: Fleecing Pensioners to Save the Banks

Ellen Brown | Posted 10.06.2013 | Detroit
Ellen Brown

In Cyprus, the depositors were "bailed in" (stripped of a major portion of their deposits) to re-capitalize the banks. In Detroit, it is the municipal workers who are being bailed in, stripped of a major portion of their pensions to save the banks.

Green Light for City-owned San Francisco Bank

Ellen Brown | Posted 07.31.2013 | San Francisco
Ellen Brown

The question is, do taxpayers want to have their public monies in a bank that has been proven to be defrauding them?

State Crowdfunding and the State Banks Will Moot the JOBS Act

Kevin Lawton | Posted 06.24.2013 | Business
Kevin Lawton

We have a signed federal law allowing Americans to access securities crowdfunding, as per the JOBS Act.  But as usual, Congress passed the baton to t...

5 Ways the U.S. Can Have an Icelandic Revolution

Carl Gibson | Posted 06.05.2013 | Politics
Carl Gibson

"We have to nationalize the banks. We have to get rid of the government. We need to have access to the internet seen as a human right. We need to have...

Saving Our Economy With Public Banking

Carl Gibson | Posted 07.20.2013 | Business
Carl Gibson

The Fed claims that quantitative easing has helped create or save almost 2,000,000 jobs since 2008, and while that may be true, the people could probably find a much better way to spend $40 billion a month and create and save far more jobs.

Bail-out Is Out, Bail-in Is In: Time for Some Publicly Owned Banks

Ellen Brown | Posted 07.02.2013 | Business
Ellen Brown

Your deposits are protected only up to the $250,000 insurance limit, and only to the extent that the FDIC has the money to cover deposit claims or can come up with it. The question then is, how secure is the FDIC?

Winner Takes All: The Super-priority Status of Derivatives

Ellen Brown | Posted 06.11.2013 | Business
Ellen Brown

There will be no more $700 billion taxpayer bailouts. So where will the banks get the money in the next crisis? It seems the plan has just been revealed in the new bail-in policies.

Are We Heading Towards Cyprus or Socialism?

Les Leopold | Posted 06.04.2013 | Business
Les Leopold

What will happen the next time the largest banks in America gamble their way into chaos? Will taxpayers bail them out again or will the "stakeholders" be forced to make up the losses?

Yes, We Can Have Banks That Work for the People

Richard (RJ) Eskow | Posted 05.29.2013 | Politics
Richard (RJ) Eskow

One pathway to genuine reform is "public banking": the establishment of banks which are owned and operated by the government, and which serve people and small businesses directly. Here's why public banking should be included in the agenda for deep and genuine financial reform.

The Battle of Cyprus: A Safe and a Shotgun or Publicly-Owned Banks?

Ellen Brown | Posted 05.27.2013 | World
Ellen Brown

The push to confiscate the savings of hard-working Cypriot citizens is a shot across the bow for every working person in the world, a wake-up call to the perils of a system in which tiny cadres of elites call the shots and the rest of us pay the price.

Six Economic Steps to a Better Life and Real Prosperity for All

Gar Alperovitz | Posted 04.01.2013 | Politics
Gar Alperovitz

When traditional systems falter and fail, new ideas spring to life. Little noticed by most observers, handholds on processes of potentially important new forms of change have been quietly developing around the country.

The Trillion-dollar Coin: Joke or Game Changer?

Ellen Brown | Posted 03.24.2013 | Politics
Ellen Brown

It's all good fun -- or is it? Most commentators have missed the real significance of the trillion-dollar coin. It is not just about political gamesmanship. For centuries, a secret battle has raged over who should create the nation's money supply -- governments or banks.