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Bank of North Dakota

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.

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.

The Rich Have Gained $5.6 Trillion in the 'Recovery,' While the Rest of Us Have Lost $669 Billion

Les Leopold | Posted 07.09.2013 | Politics
Les Leopold

It's as if the entire economic recovery is going into the pockets of the rich. And that's no accident. Here's why.

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.

Political Football Over Disaster Relief: Another Argument for Public Banking

Ellen Brown | Posted 03.09.2013 | Business
Ellen Brown

Many homeowners were strained by mortgages that were underwater prior to the storm, and their properties have now depreciated to the point of having no market value at all. They have no choice but to try to rebuild, but how can they take on more debt?

Ensuring Scottish Sovereignty: Exploring the Public Bank Option

Ellen Brown | Posted 02.06.2013 | Business
Ellen Brown

Perhaps the Scots will blaze a trail for economic sovereignty in the EU, just as the North Dakotans did in the U.S.

Illinois Needs a Public Bank

Tom Tresser | Posted 09.27.2012 | Chicago
Tom Tresser

A public bank for Illinois would deliver that much needed cheap and easily accessible capital for credit-worthy borrowers that would make a world of difference for us and our neighbors.

So About That Socialism Thing...

The Huffington Post | Alexander Eichler | Posted 03.07.2012 | Business

Tired of giving business to big banks? Maybe you can become the state's customer instead. More U.S. states are exploring the possibility of establi...

Pulling Back the Curtain on the Wall Street Money Machine

Ellen Brown | Posted 02.06.2012 | Business
Ellen Brown

We have forgotten our roots, when the American colonists thrived on a system of money created by the people themselves, debt-free and interest-free. The continued dominance of the Wall Street money machine depends on that collective amnesia.

Don't Bank on Banks -- Except for One!

Carol Muske-Dukes | Posted 02.04.2012 | Politics
Carol Muske-Dukes

I would encourage the Occupy movement to adopt a new plank in the platform -- a new bank. De-bank and re-bank! Let's find the "radical" economists and entrepreneurs who can help make the success story of the state bank available to us all.

The Lost Profession of Banking

John Fullerton | Posted 11.29.2011 | Business
John Fullerton

The time has come for an intelligent, independently-governed, public infrastructure bank, ideally partnering with real banks that see their public purpose as a profession, focused on productive lending in the real economy.

Why QE2 Failed: The Money All Went Overseas

Ellen Brown | Posted 09.10.2011 | Business
Ellen Brown

The Fed's second round of "quantitative easing" involved $600 billion for the purchase of long-term government bonds. But the government never actually got the money; it went straight into the reserve accounts of foreign banks.

What a Public Bank Could Mean for California

Ellen Brown | Posted 07.16.2011 | Business
Ellen Brown

California is the eighth largest economy in the world, and it has a debt burden to match. As large as California's liabilities are, they are exceeded by its assets. That makes Assembly Bill 750 particularly significant.

How Wisconsin Can Turn Austerity Into Prosperity: Own a Bank

Ellen Brown | Posted 05.25.2011 | Business
Ellen Brown

The budget woes of Wisconsin and other states were not caused by overspending on employee benefits. The "cure" is to get credit flowing again in the local economy, and this can be done by using state assets to capitalize state-owned banks.

Restoring Economic Sovereignty: The Push for State-Owned Banks

Ellen Brown | Posted 05.25.2011 | Business
Ellen Brown

Responding to an unfilled need for credit, three states in the last month -- Oregon, Washington and Maryland -- have introduced bills for state-owned banks.

Just Whose Economic Recovery Is it, Anyway?

Pearl Korn | Posted 05.25.2011 | Business
Pearl Korn

The American people need not be sacrificed as the cost of promoting corporate growth. Both can coexist. It is time to seek a balance, Mr. President.

Washington State Joins Movement for Public Banking

Ellen Brown | Posted 05.25.2011 | Business
Ellen Brown

Bills have been introduced in both the House and Senate of the Washington State Legislature that add Washington to the growing number of states actively moving to create public banking facilities.

The First Test for Our Newly "Civil" Congress: The Repeal of Health Care Reform

Pearl Korn | Posted 05.25.2011 | Politics
Pearl Korn

Congress has just gone through 10 days of reflection and grief over the tragedy in Tucson. Will we see civil discourse take place this week in Congress?

Austerity Fails in Euroland: Time for Some "Deficit Easing?"

Ellen Brown | Posted 05.25.2011 | Business
Ellen Brown

"Doubtful it stood, as two spent swimmers that do cling together, and choke their art." -- Shakespeare, "Macbeth" The Greek bailout was supposed to...

North Dakota -- A Template For Our Economic Recovery

Pearl Korn | Posted 05.25.2011 | Business
Pearl Korn

The Bank of North Dakota has garnered attention for its continued profitability. Momentum is building for a sane kind of banking system that works for the people and state instead of the bottom line of banks and shareholders.

To Nationalize or Bail Out?

Ellen Brown | Posted 05.25.2011 | Business
Ellen Brown

For two years, politicians have danced around the nationalization issue, but ForeclosureGate may be the last straw. The megabanks are too big to fail...

Basel III -- Tightening the Noose on Credit

Ellen Brown | Posted 05.25.2011 | Business
Ellen Brown

If the big banks that brought you the current credit crisis can already meet the new requirements, what exactly does Basel III achieve, beyond shaking down their smaller competitors?

Who Will Pay: Wall Street or Main Street , The Tobin Tax or the VAT?

Ellen Brown | Posted 05.25.2011 | Politics
Ellen Brown

Wall Street banks have been saved from bankruptcy by governments that are now going bankrupt themselves; but the banks are not returning the favor. Wall Street needs to be made to pay its fair share, but how?

Public Banking -- From Radical to Conservative

Tom Sgouros | Posted 05.25.2011 | Business
Tom Sgouros

The Bank of North Dakota -- the nation's only state-owned bank -- was founded by radicals but is now run (and defended) by conservatives