IPSNews: U.S. States Consider Starting Their Own Banks

U.S. States Consider Starting Their Own Banks by Matthew Cardinale

ATLANTA, Georgia, Apr 30, 2010 (IPS) – At least eight U.S. states are considering proposals to start state-run banks in the wake of an economic crisis where many private banks ceased or greatly decreased their lending, literally shrinking the money pool available in state economies.

Read more here.

4 Responses

  1. Nice. I think this movement may gain legs. I sure hope so. Thanks for your efforts Ellen.

  2. this is really great. Let’s hope that at least some of them prevail.

  3. I am advocating States recalling the power of money issuance from Congress in response to the Congress’ failure of responsibility through State run banks. I believe every State has the power to recall money creation from Congress to issue State CURRENCY in the current situation. Though the number of States cannot limit the power of any individual State to take this action — 38 States converging in the same decision can move by State legislatures to revoke the Congress’ authority to issue currency, End the Fed, and end Federal Income Tax by Constitutional Amendment. This is the action I recommend in the failure of the dollar, crash of the Stock Market, and collapse of banks.

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