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State Owned Banks

Unlucky Number 13: Is Slovenia Next in Line for a Bailout?

Luka Orešković | Posted 07.02.2013 | Business
Luka Orešković

While some hope of a miracle occurring in the coming months remains, so does the question of whether the new Slovenian government is willing to invest enough political capital to push through the necessary reforms before the capital markets decide to lock Slovenia out once again.

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...

New State Bank Bills Address Credit and Housing Crises

Ellen Brown | Posted 04.28.2012 | Business
Ellen Brown

We may not be able to beat the banks, but we don't have to play their game. We can take our marbles and go home.

The Way to Occupy a Bank Is to Own One

Ellen Brown | Posted 02.14.2012 | Politics
Ellen Brown

The campaign to "move your money" has gotten a groundswell of support. Having greater impact would be to "move our money" -- move our local government revenues out of Wall Street banks into our own publicly-owned banks.

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.

Why the Japanese Government Can Afford to Rebuild: It Owns the Largest Depository Bank in the World

Ellen Brown | Posted 06.01.2011 | Business
Ellen Brown

The Japanese government can afford its enormous debt because it owns the bank that is its principal creditor. But competitors are attempting to force the bank's privatization.

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.

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.

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...

China's Creative Accounting: How It Buried Its Debt and Forged Ahead with Stimulus

Ellen Brown | Posted 05.25.2011 | Business
Ellen Brown

China's government can direct its banks to advance credit in the national currency as needed, because it owns the banks. Ironically, the Chinese evidently got that idea from us.

ForeclosureGate and Obama's Pocket Veto

Ellen Brown | Posted 05.25.2011 | Business
Ellen Brown

The giant banks can be broken up and replaced with a network of publicly-owned banks and community banks, which could do a substantially better job of serving consumers and businesses than Wall Street is doing now.

The Credit Meltdown and the Shadow Banking System: What Basel III Missed

Ellen Brown | Posted 05.25.2011 | Business
Ellen Brown

While local banks are held in check by the new banking czars in Basel, Wall Street's "shadow banking system" has hardly been curbed by regulators at all.

Escaping the Sovereign Debt Trap: The Remarkable Model of the Commonwealth Bank of Australia

Ellen Brown | Posted 05.25.2011 | Politics
Ellen Brown

Nearly a century ago, the Commonwealth Bank of Australia demonstrated that banks do not actually need capital to make loans -- so long as their credit is backed by the government.

Deficit Terrorists Strike in the United Kingdom: United States of America Next?

Ellen Brown | Posted 05.25.2011 | Business
Ellen Brown

Last week, England's new government said it would abandon the previous government's stimulus program and introduce the austerity measures required to pay down its estimated $1 trillion in debts.

The Mysterious CAFRs: How Stagnant Pools of Government Money Could Help Save the Economy

Ellen Brown | Posted 05.25.2011 | Business
Ellen Brown

California is in the anomalous position of being $26 billion in the red and plunging toward bankruptcy, while it has over $70 billion stashed away in an investment pool that it cannot touch.

The Growing Movement for Publicly-Owned Banks

Ellen Brown | Posted 05.25.2011 | Business
Ellen Brown

Our private, profit-driven banking sector has been bleeding wealth from the rest of the economy. Public-interest banks can transfuse the economy with the credit it needs to flourish and be productive once again.

Growing Number of Candidates Campaign for State-Owned Banks

Ellen Brown | Posted 05.25.2011 | Politics
Ellen Brown

What's so special about North Dakota, a state with a surplus and the only state adding jobs? It's the only state that owns its own bank. It doesn't have to rely on Wall Street for credit.

Bank Of North Dakota:'Socialist' State-Owned Bank Is Thriving During Downturn

Posted 05.25.2011 | Business

(AP) The Bank of North Dakota - the nation's only state-owned bank - might seem to be a relic. But now officials in other states are wondering if it ...

Escape from Pottersville: The North Dakota Model for Capitalizing Community Banks

Ellen Brown | Posted 05.25.2011 | Business
Ellen Brown

Where can our floundering community banks get the capital to make room on their books for substantial new loans? An innovative answer is provided by the state of North Dakota.

Job Losses? Not in North Dakota. A Stimulus Plan That Really Works

Ellen Brown | Posted 05.25.2011 | Business
Ellen Brown

Why is North Dakota doing so well, when other states are suffering the ravages of a deepening credit crisis? Its secret may be that it has its own credit machine.