Oregon lawmakers want cities to be allowed to put their cash in banks other than large, for-profit institutions. Bills in the Legislature — Senate Bill 339 and House Bill 2743 — would enable municipalities to create public banks, which are owned and run by a state or municipality. James Davis, who chairs the Oregon Public Bank Alliance, said cities then could deposit their reserves somewhere besides big banks. He said that would create the capacity for public municipal banks to provide bigger loans and bonding for cities when they want to build infrastructure, such as buildings and bridges.
on FDR Knew Exactly How to Solve Today’s Unemployment Crisis
A self-funding national infrastructure bank modeled on the “American System” of Alexander Hamilton, Abraham Lincoln, and Franklin D. Roosevelt would help solve not one but two of the country’s biggest problems.