Press Room & Media
In the News
New push for state public bank in 2021 legislative session
By Brady Wakayama & Stephanie Chavez, KRQE – There is a new push – backed by several state lawmakers, and now some Albuquerque city councilors – for New Mexico to establish a state public bank. “It’s a great low cost, very easy way to make sure small businesses and economic development projects, municipal projects of all kinds, can get capitol pretty quickly,” said Dan Mayfield, VP of the Credit Union Association.
Building a green economy
By Kevin Robinson-Avila, Albuquerque Journal – The U.S. has emerged from previous economic downturns like today’s pandemic-induced slump by building new infrastructure. And given the immense construction needed to add transmission capacity, modernize grid technology, and build renewable generation facilities, transitioning to a green economy could provide a robust path to recovery while also laying the foundations for new, sustainable industries.
Albuquerque’s Quest to Buy Local Everything
By Oscar Perry Abello, Next City – The City of Albuquerque spends around $400 million a year on purchasing goods and services — excluding any CARES Act spending. About 65 percent of that already goes to local businesses in Albuquerque. “I would say I don’t see us surviving COVID without the City of Albuquerque business,” says Diverse Office Supply CEO Kerry Brennan Bertram. “I’m not exaggerating, I really don’t see how we could have managed.”
New Mexico needs a public bank
By Doug Lynam, Santa Fe New Mexican – According to a study by California State University, Northridge, New Mexico has almost 10 times more payday lenders than it does McDonald’s restaurants. Meanwhile, we are near the very bottom in U.S. News & World Report state rankings for education, economy, opportunity, fiscal stability and crime. How do we bring more money into our state?
2020 Was the Year of Demystifying Money for Cities
By Oscar Perry Abello, Next City – The unprecedented circumstances of the pandemic and the unprecedented responses it elicited from various levels of government and the private sector revealed a lot about where money comes from and how it circulates around the economy. It provided an occasion to look back at ideas that offer relevant insights for today.
Tackling the Infrastructure and Unemployment Crises: The “American System” Solution
By Ellen Brown, Web of Debt Blog – Millions of Americans have joined the ranks of the unemployed, and government relief checks and savings are running out; meanwhile, the country still needs trillions of dollars in infrastructure. A self-funding national infrastructure bank modeled on the “American System” of Alexander Hamilton, Abraham Lincoln, and Franklin D. Roosevelt would help solve not one but two of the country’s biggest problems.
Las Cruces City Council Discusses Formation Of A Public Bank In New Mexico
By Madison Staten, KRWG – The Alliance for Local Economic Prosperity is calling on the Las Cruces City Council to approve a resolution in support of a public bank in New Mexico. Angela Merkert, the executive director of the Alliance for Local Economic Prosperity, says the formation of a public bank will lead to greater economic health for the state.
Bank of North Dakota Releases COVID-19 Relief Numbers
By AM1100 The Flag – State-owned, public Bank of North Dakota (BND) released its final COVID-relief program numbers and amounts for the four programs it administered to stimulate economic recovery. The Bank utilized its network of banks and credit unions across the state to ensure the delivery of funds happened as quickly and efficiently as possible.
Why the Fed Needs Public Banks
Why Chicago should start a public bank
By Daniel La Spata, Matt Martin, Robert Peters and Ameya Pawar, Chicago Sun-Times – Arresting poverty, inequality and the racial wealth gap requires a genuinely transformational tool: a public bank. Why do communities need a public bank? Banks create money when they lend. This superpower is the cornerstone of economic development. Loans stimulate economic growth, increase property values, and build wealth — and we can harness this power to benefit all communities.
Upcoming Events
National Council for Science and the Environment and Drawdown are bringing together leaders, research partners, scientists, decision-makers and friends from across the globe to share their science and solutions to the world’s most pressing global challenges. This joint conference will:
The third annual Legislative Action Expo will be a virtual meeting place where Democratic voters, legislators, and issue-based organizations all gather together – an ideal opportunity to explore, discuss, and promote issues of concern and actions sought.
Join NM Healthy Soil Working Group for this Special Edition to learn about policy proposals for the 2021 legislative session, aiming to scale up soil health and regenerative agriculture in New Mexico.
California’s New Public Banking Option Opens Door for Real Community Investment
FAIR / Truthout.org
Economy & Labor
Oct 22, 2019
Janine Jackson interviews Public Bank LA’s Trinity Tran about public banking for the October 11, 2019, episode of “CounterSpin.”
Ellen Brown’s
2019 Book
Today most of our money is created, not by governments, but by banks when they make loans. This book takes the reader step by step through the sausage factory of modern money creation, explores improvements made possible by advances in digital technology, and proposes upgrades that could transform our outmoded nineteenth century system into one that is democratic, sustainable, and serves the needs of the twenty-first century.
“I had the good fortune to work on this initiative before Bernie kidnapped all my time. This is one of those no-brainer initiatives that only the 1% could oppose. It has the potential to save the state millions of dollars by vastly reducing the cost of its bonds to improve infrastructure funding. in a public bank, our state funds can be used to build our local economy and our local infrastructure.”
– Paul Gibson
Retake Our Democracy