Bill Bradbury's idea to shift Oregon's assets to local banks goes viral

[depakid]

Bill Bradbury, a Democratic candidate for governor of Oregon, who is banking on a campaign pledge to move the state's money out of national banks and into local institutions.

His message to the big banks on Wall Street: Phooey!

"There's a whole lot of anger because we bailed them out and now they won't lend," said Bradbury in an interview with the Huffington Post. "You're not seeing lending to small- and medium-sized businesses. So, phooey! Phooey! Let's just do it ourselves."

It is time to declare economic sovereignty from the multi-national banks that are responsible for much of our current economic crisis. It is time to keep Oregon money here in Oregon working for Oregonians. He continued. Every year we ship over a billion dollars in Oregon taxpayer dollars to out of state and multi-national banks in the form of deposits only to see that money invested elsewhere. It's time put our money to work for Oregonians.

Since Bradbury announced http://bradbury2010.com/blog/pr/2010-01-20t000000/bill-bradbury-announces-plan-create-bank-oregon">his proposal to create a "Bank of Oregon" on Jan. 20, he said he has gotten an overwhelmingly positive response from both Republicans and Democrats.

More here: http://www.huffingtonpost.com/2010/02/03/bill-bradbury-oregon-gube_n_447404.html

[joeybee12]

1. I want to move to Oregon so I can vote for him...n/t

[nilram]

10. Don't worry, I'm here, I'll vote for him... -nt

[ljm2002]

2. Good for him!

Now that is inspired politics!

[Warpy]

3. NM is looking into doing the same thing

Right now, the state assets are in BofA. They're checking into diversifying them across a number of small banks and credit unions.

That sort of thing will get the big banks' attention. Small depositors moving their assets won't.

[depakid]

5. "Small depositors moving their assets won't."

Depends on how many small depositors are moved. These account are the bankster's bread and butter.

[zazen]

4. crap: Bank of America is located in Charlotte, NC; what do _we_ do?

I seriously doubt Perdue will move funds into the State Employees Credit Union, but it'd sure be nice.

[MerryBlooms]

6. I support Bradbury and this idea 100%

All my has been done with our local credit unions since 1982. I have zero desire to ever walk into a 'real' bank.

Phooey indeed - go Bradbury!

[stevedeshazer]

7. As a lifelong Oregonian and a former "big" bank employee, I could not support this more.

Bradbury has my primary vote locked up.

Local banks and credit unions are the way to go. Local investment.

Once I had a very smart boss I really respected. She told me that money is like manure. If you pile it up in one place, it stinks. If you spread it around, things begin to grow.

Thanks, dkid

[depakid]

9. That's a great quote!

Now added to my repository....

[stevedeshazer]

8. Addendum, North Dakota already has a state bank, since 1919

The only one in the nation, and it seems to work just fine.

http://www.banknd.nd.gov/

[LWolf]

11. He's certainly one on my list of potentials for the primary. nt