Last year I asked SC Treasurer Loftis to consider placing the liquid funds of South
Carolina in a bank owned & operated in South Carolina.
If our monies were deposited in a South Carolina owned bank, the people would
have far more ability to use those funds in loans to create business and grow
our economy. South Carolina, would be the
beneficiary of the interest paid on those loans as well.
Why should our money be benefiting BOA & the Wall Street elite who are
controlling South Carolina’s treasury funds for the benefit of their
cronies and largely denying small banks and businesses in South Carolina
access to them. South Carolina may need a state bank
or at minimum, South Carolina funds should be held in banks that are owed and operated in South Carolina. Get our funds off
Wall Street and back into South Carolina where we the people of SC can use
what is rightfully ours." - - Patricia of So. Carolina
17 States Considering State Banks
Taking a cue from North Dakota, a large
number of state governments are considering the establishment of a state
In the wake of the financial and
mortgage crises, proponents are pushing for states to rely less on large
national private banks and establish state-run financial institutions.
North Dakota serves as the model for
this new experiment that 17 states are looking at. However, the state bank in
North Dakota, the only one of its kind in the U.S., is not new, having been
in operation since 1919.
With the Bank of North Dakota, financing is made available to support
loans to students, farmers and others, while the bank’s profits go into
the state budget to help provide more revenue for government programs.
Some states, such as Idaho and Vermont,
have introduced legislation to study the idea of starting a state bank. Other
states, like New Hampshire, Virginia, Hawaii, Washington and California, are
debating bills that would create a state bank.
Read more: http://chasvoice.blogspot.com/2012/03/17-states-considering-state-banks.html#ixzz1ntKClyKV