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PatSeg

(47,415 posts)

10. Yeah

Reply to ToxMarz (Reply #7)

Thu Oct 3, 2019, 12:09 PM

Oct 2019

Like there is no "political influence" in the private banking system. As for "risky", I still remember the 2008 financial meltdown. One advantage of a government owned banking system is it is more likely that laws and regulations will be followed. Private financial institutions tend to look for ways to skirt the law.

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13 replies

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Highlight:

Public Banks Can Be Formed In California As Newsom Signs New Law [View all] appalachiablue Oct 2019 OP

Sounds like a good start not fooled Oct 2019 #1

It's all good; took 100 years to get another state public bank. appalachiablue Oct 2019 #3

K&R Thanks for posting. alwaysinasnit Oct 2019 #2

It's time to give Wall Street the finger. I love this idea. Wish I lived in CA. YOHABLO Oct 2019 #4

Maybe it's just me woundedkarma Oct 2019 #5

From the looks of it, the Ca. banks will not be loaning $$$ to the likes of us. 3Hotdogs Oct 2019 #6

Critics of the institutions ToxMarz Oct 2019 #7

Except the public is on the hook for all bad loans, hughee99 Oct 2019 #8

Who was on the hook for all the bad loans that caused the last recession ToxMarz Oct 2019 #11

The public had to bail out the banks. Some of it was repaid. hughee99 Oct 2019 #12

Yeah PatSeg Oct 2019 #10

Good idea, but it has to be highly regulated and monitored with very tight controls in place. Yavin4 Oct 2019 #9

Would these banks be available for marijuana dispensaries to use for fund accounts? not_the_one Oct 2019 #13