To Learn More about Public Banking:
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[Updated 1/30/2021]
Please check our Facebook page. We update it frequently about public banking efforts throughout the country as well as articles which talk about what public banking is. This page is definitely still under construction. In the meantime, we recommend these resources to learn more about public banking.
Op-Eds & Letters to the Editor Close to Home: Divest public funds from fossil fuels (1/17/2021) By Shelly Browning and Philip Beard https://www.pressdemocrat.com/article/opinion/close-to-home-divest-public-funds-from-fossil-fuels/ Videos Deep Dive on AB857 with Dave Jette David Jette takes a deep dive in conversation with Rohan Dixit on the historic #AB857 legislation we passed last year with the California Public Banking Alliance. Among the topics discussed:
Public Bank LA Brief intro by Public Bank LA (00:01:29) The Young Turks (TYT) Interview Excellent interview with Trinity Tran and Phoenix Goodman, co-founders of the effective and well-organized Public Bank LA (00:36:00) Public Bank LA's 2-hour long introduction to public banking by the passionate, inspirational and highly effective young public banking activists working towards a public bank of Los Angeles. (01:53:00) Fossil Free California: Your Pension and the Planet While not specifically about public banking, this video demonstrates the social and financial reasons for divesting from fossil fuels, which is one of the goals of public banking. One of Fossil Free California’s major campaigns is pressuring the California State Teachers Retirement System (CalSTRS) to divest. This video explains to teachers why they should demand that CalSTRS divest now—in order to protect their retirement AND the future of their students. (08:16) History of the Bank of North Dakota (BND) (26:29) From Prairie Public: This video chronicles the Bank of North Dakota's fascinating history and reviews its key role in financing the state's economic future. North Dakota is the only state in the union with a state-owned bank. The program documents the rise of the Non-Partisan League and its struggle to overthrow the out of state interests that controlled the North Dakota economy and chronicles the political infighting, the dirty tricks, the back room deals, and the amazing series of events that led to the creation of the bank. Sparkassen (03:33) The U.S. currently only has one public bank, the Bank of North Dakota. But many other countries have public banks. Sparkassen is only one of several German public banks. Articles ILSR: Public Banks: Bank of North Dakota From Institute for Local Self-Reliance (ILSR) 7/2/2015 https://ilsr.org/rule/bank-of-north-dakota-2/ Re: BND partnering with local banks and credit unions: "Thanks in large part to BND, community banks are much more numerous and robust in North Dakota than in other states. North Dakota has more banks and credit unions per capita than any other state. In fact, it has nearly six times as many local financial institutions per person as the country overall. While locally owned small and mid-sized banks and credit unions (those under $10 billion in assets) account for only 29 percent of deposits nationally (see this graph), in North Dakota they have a remarkable 83 percent of the market. "By helping to sustain a large number of local banks and credit unions, BND has strengthened North Dakota’s economy, enabled small businesses and farms grow, and spurred job creation in the state. "Over the last 21 years, BND has generated almost $1 billion in profit. Nearly $400 million of that, or about $3,300 per household, has been transferred into the state’s general fund, providing support for education and other public services, while reducing the tax burden on residents and businesses." The Growing Movement to Create City Run Public Banks From Fast Company 1/8/2018 https://www.fastcompany.com/40512552/the-growing-movement-to-create-city-run-public-banks "A public bank, they realized, could be designed to bar unethical business practices. It could also save the city money. Los Angeles, for example, paid private banks more than $100 million in fees in 2016." Books The Public Bank Solution: From Austerity to Prosperity by Ellen Brown Web of Debt: The Shocking Truth about Our Money System and How We Can Break Free (5th Revised Edition) by Ellen Hodgson Brown Other Resources Governments Working Together: A Citizen’s Guide to Joint Powers Agreements (JPA) To run a public bank, the City of Santa Rosa will likely need to partner with another city in a Joint Powers Authority (JPA). One of our public banking partners recommends this document as a pretty useful "citizen's guide." 26 pages (minus table of contents, resources, acknowledgements and bibliography). https://sgf.senate.ca.gov/sites/sgf.senate.ca.gov/files/GWTFinalversion2.pdf #PublicBanksNow #publicbank |