Photo by Robert Bye. Public and Postal Banking We can create a successful public bank — it’s our money! | Constance Billé, Generocity Op-Ed: Biden’s American Rescue Plan can help rescue NJ’s public bank | John J. Metro, NJ Spotlight News Economy Congressional Hearing: The Promises and Perils of Central Bank Digital Currencies, Tuesday, July 27, 2021. Livestream video replay. The Trillion-Dollar Lie | …
Photo by Rich Hay. In a major victory for public banking advocates, San Francisco’s Board of Supervisors voted unanimously on June 15th to establish the San Francisco Reinvestment Working Group tasked with developing business and governance plans for both a non-depository Municipal Finance Corporation and for a public bank. The ordinance was signed by Mayor London Breed, …
Photo by Heather Khalifa courtesy The Philadelphia Inquirer. In an opinion article penned by their editorial board, The Philadelphia Inquirer recommends that City leaders consider Councilmember Derek Green’s proposal for a public bank saying it “could help Philly overcome [the] troubling racial wealth gap.” The board writes: “Overcoming the racial wealth gap, providing the capital Black entrepreneurs need to succeed, …
Philly Inquirer endorses creating a public bank for Philadelphia Read More
After a life of unique political initiatives and stances, former US Senator and PBI Advisory Board member Mike Gravel has died at the age of 91. Gravel held his Senate seat for two terms, making waves and headlines for his principled positions against America’s military aggressiveness, diminishment of citizen’s rights to know, and the expanding …
A pioneer for peace, democracy and public banks leaves the stage Read More
Photo by Alex Motoc. PBI’s Board Member Michael Brennan, working with The Democracy Collaborative and Public Bank LA, has published a new report that examines the thorny issue of public bank governance. How do we structure financial institutions to be functionally excellent and truly democratic? “[T]his report proposes a governance design for the Los Angeles Public Bank and a …
Representative Danny Davis reintroduced the bill to create a National Infrastructure Bank (NIB), HR 3339 (formerly HR 6422), on May 19, 2021. The Coalition for the NIB reports this public bank would “lend up to $5 trillion for infrastructure projects in every county in America — and meet economic and other policy objectives — all without reliance on …
National Infrastructure Bank legislation reintroduced in Congress Read More
Photo by Public Bank NYC. Michelle Chen’s recently published article in The Nation focuses on the need and efforts for a publicly-owned financial institution in New York City. Chen quotes PBI Chair Emeritus Walt McCree: “If we don’t try and control some of our money, we’re not going to be able to implement the policies that we want to [effect] …
The Nation Magazine asks “Why Shouldn’t the People Own the Banks?” Read More
Hamilton vs. Wall Street How did America’s financial system, founded to be a democratic tool of economic development, wind up instead a tool of oligarchic control? Alexander Hamilton intended that America’s financial system would enable individual initiative and collective well-being through a system of sovereign money and credit, independent of the British financiers who wanted …
Public and Postal Banking Public banking movement gaining traction in California | Scott Scoriano, Capitol Weekly SF Mayor London Breed and Board of Supervisors reach deal on $13 billion budget | San Francisco Chronicle A Huge Victory for Public Banking in SF | Rick Girling, El Tecolote Debate reignites over San Francisco’s first public bank | Ida Mojadad, San Francisco Examiner An idea …
Santa Barbara, California. Photo by Jeff W. Nine cities and counties along the coast of California have approved resolutions to participate in a viability study for creating a regional Central Coast Public Bank under California’s Public Banking Act AB 857. They include: County of Santa Cruz County of Santa Barbara County of Monterey City of …
Chief executive Segun Idowu of the Black Economic Council of Massachusetts. Photo by Suzanne Kreiter courtesy the Boston Globe. The Black Economic Council of Massachusetts (BECMA) and the influential Boston Foundation are putting their combined political muscle behind a state-owned public bank. Jon Chesto reports in the Boston Globe: “Worried that Black-owned businesses will be …
