Discussion: Public Banking: A Sustainable Solution to Problems Caused by Public Banker
Public Banking: A Sustainable Solution to Problems Caused by Public Banker
Private banks are destroying our communities by funneling public funds out through a pipeline of rigged swap deals, municipal bonds, and pension investments. Schools in Oakland are shut down, while banks continue to be paid nearly 20% of the city’s operating budget in interest and fees. UC students are forced to pay ever higher tuition, while the banks are collecting $10 million a year from the UC. These private banking behemoths must be stopped. By arguing that they are necessary to economic survival, these banking giants get ever more public funds through bailouts. Public Banking is an alternative system to financing that has the potential to greatly diminish the power of the private banking elites. Public Banking is a sustainable and local banking solution that has garnered support world-wide. Join us for a forum where we will discuss Public Banking theory and practice.
Jane Smith will talk about how public banks actually function. An Occupy activist with a focus on Wall Street, Jane is trained in mathematics and economics, and is involved with education efforts concerning finance and banking. As a member of the Ideological Liberation Working Group (ILWG), she writes for the www.OBAU.org website.
Susan Harman will highlight efforts to institute a Public Bank in California, and how to talk to politicians about starting a public bank, focusing on interest and fiduciary responsibility. In addition to being a volunteer with the Public Banking Institute, Susan is active with CodePink and Move to Amend.
Jack Wagner will discuss his experience in organizing and educating about Public Banking in Sonoma County as a volunteer with the Public Banking Institute.
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