This is how to pay for the Green New Deal

As public banking expert Ellen Brown has highlighted, during the New Deal, the federal government’s Reconstruction Finance Corporation (RFC) lent over $2.5 billion in agricultural loans, backed vast infrastructure investments, and re-stabilized the economy through emergency loans to states and for disaster relief. By Sylvia Chi California Public Banking Alliance, This is how to pay for the Green New Deal, Mar 4, 2019  Dianne Feinstein, our …

San Francisco supervisors consider public banking options for affordable housing and more

Supervisors Endorse ‘Bold’ Public Bank Plan: Momentum builds for a city-run bank as supervisors encourage starry-eyed thinking that could divest $11 billion annual budget away from Wall Street and to local issues. Ida Mojadad, SF Weekly.com,  Dec 13th, 2018 After taking months to come up with public bank models criticized for not living up to the full potential, the Treasurer’s Office has a …

Public Banking Update – March 2019. CA AB857 carves out a special charter for city-owned public banks, San Francisco and LA are pursuing it

“In California, we’re going to get this done!” AB857 carves out a special charter for city-owned public banks In dual press conferences Monday in Los Angeles and San Francisco, California legislators announced the introduction of AB857, a bill that would enable cities and regions to charter their own public banks and create a public banking network in the state.  The announcement …

2019 New Hampshire Bill Establishing a Public Bank

HB 367-FN – AS INTRODUCED 2019 SESSION 19-0146 11/08 HOUSE BILL 367-FN AN ACT establishing a state bank. SPONSORS: Rep. Marple, Merr. 24; Rep. Horrigan, Straf. 6  COMMITTEE: Commerce and Consumer Affairs —————————————————————– ANALYSIS This bill establishes a state bank. – – – – – – – – – – – – – – – – – – – – – …

Public Banking for Infrastructure Finance

By providing counsel, BND helps municipalities with limited knowledge of financial markets or the grant application process to access capital at lower rates and with cheaper transaction costs. Second, to address declining public revenues for infrastructure, BND’s direct low-interest loans allow it to leverage capital on terms that are favorable to the public. Finally, the centralized management of public funds …

The latent, unused power of citizens—and the production of public collateral

The latent, unused power of citizens—and the production of public collateral, Ann Pettifor, Democracy Collaborative and Next System Project, January 24, 2019, MONEY & BANKING Introduction It was just a montage of words uttered over a video in the summer of 2018. Soon the words went viral. They helped unseat a Wall Street-friendly Democrat—one primed to be the next congressional leader. They …

Putting banking back in the hands of the people: The role of regional cooperative banks in community wealth building

Jules Peck, Founder of the Real Economy Lab, January 3, 2019 Community wealth building If you’re in any way a follower of the ‘new economics’ movement you will probably have heard of the ‘community wealth building’ mantra which is gaining ground as common language. So, what exactly is this new approach to growing local economies? The Democracy Collaborative, where I’m a Next …

Power of public banking: Renewables generated 41% of Germany’s electricity in 2017, up from just 6% in 2000; and public banks provided over 72% of the financing for this transition.

The Financial Secret Behind Germany’s Green Energy Revolution The “Green New Deal” endorsed by Rep. Alexandria Ocasio-Cortez, D.-N.Y., and more than 40 other House members has been criticized as imposing a too-heavy burden on the rich and upper-middle-class taxpayers who will have to pay for it. However, taxing the rich is not what the Green New Deal resolution proposes. It says funding would …

Take back the grid: Start a Community Ownership of Power Administration (COPA), modeled after the New Deal’s Rural Electrification Administration

This paper, co-written by Jackson Koeppel, executive director of Soulardarity in Highland Park, Michigan, and Liz Veazey, network director of We Own It, proposes a component of the Green New Deal that is explicitly designed to free communities from the unjust power of investor-owned utilities for the sake of not only de-carbonization but in order to transform our economy so it serves everyone. It’s …

Public banking updates. Reports from LA, from the nation’s capitol on public banking: D.C. feasibility study soon to be released

Four new articles endorse a public bank for LA #YesOnB  posted by PUBLIC BANKING INST | 8gb September 13, 2018 Photo courtesy Public Bank LA Los Angeles’ ballot initiative for public banking continues to generate many excellent articles about public banking. Their cogent arguments apply to public banking in general, but as Phoenix Goodman writes in the LA Progressive, “Rarely does the constituency of a city …