Wednesday, Jan 06, 2010
Tax speculation
The Real News: Tax the speculators and create a public bank
Robert Pollin: Tax speculation, create a public bank and a public rating agency - these are a few of the necessary reforms
Posted by the number cruncher @ 03:30 PM (461 views) Add Comment
1 Comment
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1. icarus said...
Yep, the Bank of North Dakota (BND) - the state of North Dakota doing business as the BND is a good public bank model which could work in other states to get them out of financial trouble by short-circuiting Wall Street and to channel credit into the economy.
For over a century Commonwealth Bank of Australia acted as both a central and a commercial bank and was more concerned with supporting the real economy.- including mortgages and small & medium business credit - than with profit and competed with other banks to put downward pressure on interest rates. Unfortunately it became 'too successful not to privatise'.