Go Back   Old Project Avalon Forum (ARCHIVE) > Project Avalon Forum > Project Avalon > Economy and Currency

Notices

Reply
 
Thread Tools Display Modes
Old 02-16-2010, 09:34 PM   #1
peaceandlove
Avalon Senior Member
 
Join Date: Sep 2008
Location: Turtle Island
Posts: 2,776
Lightbulb Economy prompts fresh look at North Dakota's socialist bank

Economy prompts fresh look at North Dakota's socialist bank

By DALE WETZEL, Associated Press Writer – Tue Feb 16, 2010

BISMARCK, N.D. – It has no automatic tellers or drive-up windows, doesn't issue credit cards, and tends only a few thousand checking and savings accounts. Its only location is a glass, steamboat-shaped headquarters near the Missouri River, where the business moved from its original 1919 home in a former auto assembly plant.

The Bank of North Dakota — the nation's only state-owned bank — might seem to be a relic. It was the brainchild of a failed flax farmer and one-time Socialist Party organizer during World War I.

But now officials in other states are wondering if it is helping North Dakota sail through the national recession.

Gubernatorial candidates in Florida and Oregon and a Washington state legislator are advocating the creation of state-owned banks in those states. A report prepared for a Vermont House committee last month said the idea had "considerable merit."

Continues: http://news.yahoo.com/s/ap/20100216/...9ub215cHJvbXA-
peaceandlove is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT. The time now is 01:48 AM.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Project Avalon