Should every state own a bank of its own?

Posted on April 23, 2011 | 3 Comments

A state owned bank can provide state economies with many advantages–if it is properly run. Here’s an article from Mother Jones about the Bank of North Dakota, the only state owned bank in the United States. It makes a pretty good case.–t.h.g.

How the Nation’s Only State-Owned Bank Became the Envy of Wall Street

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3 responses to “Should every state own a bank of its own?”

  1. philoplatt | June 25, 2011 at 1:22 pm | Reply

    Shouldn’t we just stop calling the bookkeeper in charge of who has the cash debt(debit/credit) a “bank”? Shouldn’t we call the broker who facilitates large transactions among the producers who don’t normally raise funds through the issuance of stock a broker? Thus lower income are taking the brunt of “tax” the private banker is charging us for the use of currency. As soon as a “bank” loans money, it has become an investment company after all. Why should a bookkeeper be able to accrue compounding debits to an account, simultaneously adding corresponding credits to his own account? I think the same bookkeeper who tracks who pays taxes should be the same who tracks cash debt – debit specifically. Let every producer have access to the same amount of public cash debit as he enters the market. Get the common man fluent in the issuance, purchase and trade of stock, and let his broker also handle his checking(credit) account. The word “bank” implies a storage facility, not bookkeeper/broker. Of course this would make it impossible for industrialists to monopolize.

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  2. Marc Brown | April 29, 2011 at 9:03 pm | Reply

    Hello,

    My name is Marc Brown. I am a financial writer as well as a skilled coupon clipper, a Dad, and the frugal gatekeeper of my household. I am trying to build up my portfolio and would love to post as a guest on your site. Frugality, debt, budgeting, personal finance, and managing the household have always come naturally to me and it’s something I really enjoy writing about. I would be glad to come up with something unique and interesting to contribute to your blog or write about any ideas you may have for a guest post.

    Should you publish my post, I’ll be happy with a simple attribution with my name and the site I co-author. Let me know what you think and what topics you are looking for that you haven’t already covered or I can just come up with something unique that hasn’t been done yet.

    I look forward to hear from you.

    Thanks so much!

    Marc Brown

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    • Thomas H. Greco | April 30, 2011 at 7:08 am | Reply

      As a matter of policy, I do not accept guest articles, but you can write something and post it as a comment to one of my posts. If the content is appropriate and seems useful to my readers, I’ll accept it and maybe highlight t in a subsequent post.

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