[Zarquon]

I was surprised when I read that the US, of all places, actually has a successful public bank... in North Dakota, since 1919. And there seems to be some political movement towards Public Banking in the US. And while it doesn't seem likely that it could sink Wall Street, it might

An older discussion in the NYT:
https://www.nytimes.com/roomfordebate/2 ... capitalism

This piece explains IMO pretty well how it works and what North Dakota’s Public Bank does:
https://boss.blogs.nytimes.com/2014/03/ ... usinesses/

Another summary:
https://ilsr.org/rule/bank-of-north-dakota-2/

$this->bbcode_second_pass_quote('', 'B')ND functions mainly as a “banker’s bank” — meaning that most of its lending is done in partnership with local banks and credit unions. About half of the bank’s $3.9 billion loan portfolio consists of business and agricultural loans that are originated by a local financial institution and funded in part by BND. By participating in these loans, BND expands the lending capacity of North Dakota’s community banks, giving them added strength in competing against big out-of-state banks.

The remainder of BND’s loan portfolio consists of residential mortgages and student loans. In keeping with its mission to support, rather than compete with, local banks, BND does not make home loans directly. Instead, it provides a secondary market, buying up mortgages originated by the state’s local banks and credit unions.

[aspera]

I always thought that when a bank or financial institution declared that it was TBTF that just identified the point at which it should be turned into a utility. One the functions like North Dakota’s Public Bank.

[Tanada]

To my way of thinking this is not a "public" bank, it is a "state" bank in the same guise as the Bank of England or the Bank of Scotland.

A real PUBLIC bank is a true utility like an Electric coop or natural gas distribution company. They have state oversight and regulation but outside of that they operate as a bank.

[Zarquon]

$this->bbcode_second_pass_quote('Tanada', 'T')o my way of thinking this is not a "public" bank, it is a "state" bank in the same guise as the Bank of England or the Bank of Scotland.

[Cog]

$this->bbcode_second_pass_quote('aspera', 'I') always thought that when a bank or financial institution declared that it was TBTF that just identified the point at which it should be turned into a utility. One the functions like North Dakota’s Public Bank.

[yellowcanoe]

The term Public Banking reminds me of Savings and Loans Associations which were not-for-profit cooperative institutions. The role that S&L's played at one time in helping working class people finance homes is illustrated in the 1946 movie It's a Wonderful Life starring James Stewart.

[Outcast_Searcher]

$this->bbcode_second_pass_quote('yellowcanoe', 'T')he term Public Banking reminds me of Savings and Loans Associations which were not-for-profit cooperative institutions. The role that S&L's played at one time in helping working class people finance homes is illustrated in the 1946 movie It's a Wonderful Life starring James Stewart.

[aspera]

$this->bbcode_second_pass_quote('Cog', 'A')s if a politician can run a bank better than a CEO. LOL.

[Zarquon]

You forgot one: it outperformed Wall Street.
https://www.publicbankingpa.org/index.p ... all-street

"It is more profitable than Goldman Sachs Group Inc., has a better credit rating than J.P. Morgan Chase & Co. and hasn’t seen profit growth drop since 2003.
...
Its total assets have more than doubled, to $6.9 billion last year from $2.8 billion in 2007. By contrast, assets of the much bigger Bank of America Corp. have grown much more slowly, to $2.1 trillion from $1.7 trillion in that period.

Return on equity, a measure of profitability, is 18.56%, about 70% higher than those at Goldman Sachs and J.P. Morgan. . . ."

LOL indeed.

[Zarquon]

And didn't someone mention the KfW?

$this->bbcode_second_pass_quote('', 'T')he state-owned KfW (Credit Institute for Reconstruction) is Germany's third largest bank:
https://en.wikipedia.org/wiki/KfW

[Tanada]

$this->bbcode_second_pass_quote('Outcast_Searcher', '')$this->bbcode_second_pass_quote('yellowcanoe', 'T')he term Public Banking reminds me of Savings and Loans Associations which were not-for-profit cooperative institutions. The role that S&L's played at one time in helping working class people finance homes is illustrated in the 1946 movie It's a Wonderful Life starring James Stewart.