Many thanks to Councilor Renee Villarreal for her vision and persistence in pursuing the investigation of a public bank for Santa Fe. Thanks also to Councilors Joseph Maestas, Carmichael Dominguez, Signe Lindell and Peter Ives for co-sponsoring the resolution to create a task force to map out the steps required for the public bank.
As we learned at last week’s Interfaith Dialogue on Economic Justice at Temple Beth Shalom, public banking is a way to democratize our economic and financial system and to begin to address the economic inequalities in our community. A Santa Fe public bank could create money in the same way that other chartered banks do, through fractional reserve lending, and harness this money for the public good, instead of for private profit. By creating a public bank, Santa Fe can be a leader in implementing a moral and ethical approach to money and economic justice.
Leslie Lakind, D.D.S. – Santa Fe
