11 Jun '11, 6am

Report: Public banking can democratize the economy | Energy Bulletin

Report: Public banking can democratize the economy | Energy Bulletin

Create new jobs and spur economic growth. Partnership banks are participation lenders, meaning they partner — never compete — with local banks to drive lending through local banks to small businesses. If Washington state had a fully operational partnership bank capitalized at $100 million during the Great Recession, it would have supported $2.6 billion in new lending and helped to create 8,212 new small business jobs. A proposed Oregon bank could help community banks expand lending by $1.3 billion and help small business create 5,391 new Oregon jobs in its first three to five years. All of this would be accomplished at a profit, which partnership banks should share with the state. Generate new revenues for states directly, through annual bank dividend payments, and indirectly by creating jobs and spurring local economic growth. The table above shows projected dividends for...

Full article: http://www.energybulletin.net/stories/2011-06-10/report-p...

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