Union Perspectives

Now is the time for public banking in California. We have given away too much for too long to Wall Street and big banks. We should have our own, here in California, like North Dakota has. The only state bank in the U.S. is in North Dakota and it partners with local lenders who provide loans to small start ups and commercial loans. California is the largest economy in the U.S. and the fifth largest in the world yet it has no state bank. There are numerous private banks, but none are state banks. The banks here in California send their profits out of state and sometimes out of the country. We do have some local banks, but they are not large enough to make an impact like a state bank would do. California needs jobs and infrastructure repairs, and California state bank would provide the money for jobs and protect us from Wall Street’s greed, which brought this country to the brink of disaster. Some in California want to split the state, but what we should be doing is start thinking lik...