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Public Banking

Can Jill Carry Bernie’s Baton? A Look at the Green Candidate’s Radical Funding Solution

Ellen Brown | Posted 08.10.2016 | Politics
Ellen Brown

Bernie Sanders supporters are flocking to Jill Stein, the presumptive Green Party presidential candidate, with donations to her campaign exploding nea...

My Message to the DNC's Platform Drafting Committee

Chris Shelton | Posted 06.09.2016 | Politics
Chris Shelton

The goal for all working families remains a secure, sustainable job and a real improvement in our standard of living. Here's how we get there.

Bank of North Dakota Soars Despite Oil Bust: A Blueprint for California?

Ellen Brown | Posted 05.03.2016 | Business
Ellen Brown

Despite North Dakota's collapsing oil market, its state-owned bank continues to report record profits. This article looks at what California, with fif...

Krugman Attacks Sanders for Economic Study Produced By Clinton Supporter

Les Leopold | Posted 02.20.2017 | Politics
Les Leopold

Good journalism and good economics requires an open debate about the key issue driving the Sanders revolt: runaway inequality.

The Citadel Is Breached: Congress Taps the Fed for Infrastructure Funding

Ellen Brown | Posted 01.17.2017 | Politics
Ellen Brown

In a landmark infrastructure bill passed in December, Congress finally penetrated the Fed's "independence" by tapping its reserves and bank dividends for infrastructure funding.

Don't Put Privatizer and Payday Lender Lobbyist on the USPS Board

Dave Johnson | Posted 10.05.2016 | Business
Dave Johnson

At a time when people are proposing that the USPS reinstate public banking -- a service that would help millions of Americans -- Barnett is clearly the wrong choice for the USPS Board.

Postal Workers and the Public Want a Postal Banking Public Option

Dave Johnson | Posted 04.21.2015 | Business
Dave Johnson

Contract talks between the American Postal Workers Union (APWU) and the U.S. Postal Service for a new contract start Thursday. Along with asking for fair wages and benefits, the APWU wants improvements in customer services, including postal banking.

Russian Roulette: Taxpayers Could Be on the Hook for Trillions in Oil Derivatives

Ellen Brown | Posted 02.28.2015 | Business
Ellen Brown

The sudden dramatic collapse in the price of oil appears to be an act of geopolitical warfare against Russia. The result could be trillions of dollars in oil derivative losses; and the FDIC could be liable, following repeal of key portions of the Dodd-Frank Act last weekend.

New Rules: Cyprus-style Bail-ins to Take Deposits and Pensions

Ellen Brown | Posted 01.31.2015 | Business
Ellen Brown

Rather than reining in the massive and risky derivatives casino, the new rules prioritize the payment of banks' derivatives obligations to each other, ahead of everyone else.

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

Ellen Brown | Posted 09.07.2014 | 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 08.09.2014 | 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

C. Robert Gibson | Posted 01.23.2014 | Business
C. Robert 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...