"We now have the technology to make sure it's fair and NON-political."

"Making loans in Indiana especially to Indiana businesses and institutions that will create jobs. Then keeping the profits from the loans here in our state for our people."

Now: Private Banking Profits GO: Into the private banks pockets. Into the black hole of international finance.

Coming: Public Banking Profits GO: Into the town, city, municipality, county and state funds to be used as the people of the state see fit.

Canada copies US Banking Policies

What are Public Banks?

  They are financial institutions owned by government entities like towns, cities, municipalities, counties and states.

What is the difference between private banks and public banks?

  Private banks serve themselves and their profits go to their banking companies and shareholders which live in USA, Europe, Russia, China etc. Public banks serve the public interest and the profits are used for local needs like small business loans which create jobs etc. Making sure the benefits go to those that created the wealth in the first place.

Will public banking replace private banking?

  No, not at all. The need for public banking has arisen as a result of the private banks choking of our money supply in the name of private profits resulting in foreclosures, bankruptcies, joblessness, and bad credit. Public Banking just gives us the option of having locally controlled banks, along with the current banks, making loans to local people and keeping our profits here.

How much money are we talking about, or how much money is leaving our state to never return?

  Do the math:
(from the bottom)
During the main crash a couple of years ago the banks sucked over 35-40 billion dollars out of the states just in NSF (overdraws) charges on our people. Not to mention the hardships they created with $35 - $70 - $105 charges on people that were already in desperate trouble. "We get hurt they take advantage and hurt us more."
The other end would be billions on foreclosures, bankruptcies and business closings/joblessness when they quit making loans and advancing credit.

What are the primary benefits?

  Keeps the profits in the local communities and states.
Speeds up the financial process.
Localizes decision making...needs vs solutions.
Creates businesses/jobs without permission needed by the fed.
Gives us more control of our future and the futures of our families and communities.

How will we know that they are doing the fair and right thing?

  All pertinent information, transactions and activities will be published on the web.

What is the bankers do something unethical, unfair or political?

  Fire them immediately. Public banking rules will cover those issues specifically when authorized by our state legislature.

Has private banking failed us?

  Private banking is a private business for private profits that has a huge stranglehold on our nation. They have lobbied congress and made changes to banking laws so they could create a huge private niche market. Which is why we do more money transactions like cash cards, credit cards, money orders, utility payments and a slew of other financial transactions at grocery stores, gas stations and department store financial service departments than at banks.
Private banks are lazy and they are already getting the money anyway.
They have a very narrow product line and a risk free policy, they take no risks yet get obscene profits while we all take risks daily, risk is part of life. (btw, I am old. When I was in college banks had to assume some local risk (like the rest of us) and participate in the community. That normal, reasonable and rational part of the charter has been removed from the rules.) Now the profits leave our states and sometimes our nation forever.

How do we get public banking?

  By submitting a bill (and getting it passed), to the state legislature that will allow public banking on our/your state. Remember though almost all elected officials are getting political donations from banks, financial institutions and their corporate cronies.
So this will have some obstacles. But it is now obvious that we need to regain control of our futures and the futures of our families, states and nation.

Michael Banker
POB 714
Clear Creek, Indiana 47426