I am writing to urge the Santa Fe city councilors to support the public bank resolution. As I illustrate in my book, Breaking Big Money’s Grip on America, the practices of Wall Street and the global banks have been very detrimental to most Americans, the 2008 Great Recession being the most glaring, recent example.
A Santa Fe public bank is a very sound way of keeping our city’s funds safe and working for the good of our community, rather than for Wall Street. Partnering with locally owned community banks and credit unions, a Santa Fe public bank would assure local control of our city’s resources. Moreover, it would increase lending to projects beneficial to our citizens; projects like affordable housing, early childhood education and improved infrastructure. Why gamble our city’s money with Wall Street banks? Let’s help build our local economy by creating our own public bank.
Bruce Berlin – Santa Fe
