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Maine Voices: State at a disadvantage by banking on private, out-of-state institutions.
APPLETON — If you’ve ever written a check to the Maine State Treasurer’s Office, you may be surprised to learn that it was deposited in a privately owned bank. In the state treasurer’s pooled cash account report, we find that Maine deposits funds in private banks in other states as well as in Canada, France, Japan and the Netherlands.
Reader View: A Public Bank Is Good For Santa Fe
In a recent My View in The New Mexican, retired senior bank loan officer Jim Lodes (“A public bank for Santa Fe? It’s too expensive,” June 12) suggested we don’t really need a public bank in Santa Fe. Here are the reasons why a public bank is a fiscally responsible pathway toward greater social and […]
Reader View: Public banks can work for citizens
In a recent op-ed column, Jim Lodes (“A public bank for Santa Fe? Too expensive,” My View, June 11), warned against creating a Santa Fe public bank and said, in part: “Over the last few decades, not one city, county or state has analyzed this and decided to start a public bank.” To the contrary, […]
Kashkari Bucks Fed Norms Adding Emojis to Public Debate on Rates
Since the financial crisis, Federal Reserve officials have tried to communicate their policies to a wider constituency. With Neel Kashkari, the boundaries are being tested.
Broad new fed rule could impact NM credit unions and small banks
A proposed new rule from the Consumer Financial Protection Bureau may help protect people against predatory lenders, but could come at a cost for New Mexico credit unions and small banks.
The rule, announced in early June, would designate it an “abusive and unfair practice” for lenders to make short-term loans without determining that a consumer has the ability to repay it.
Read Up On Public Banks, Then Decide
Recently, several letters have appeared in The New Mexican opposing a public bank for Santa Fe. The key argument is that the bank would be managed by the city. That’s not how a public bank works. As a chartered bank, a public bank would be managed by professional bankers and overseen by a policy-setting board. […]
Pay To Play
In his op-ed (“A public bank for Santa Fe? It’s too expensive,” June 12), Jim Lodes suggested that instead of establishing a public bank, Santa Fe could earn better interest investing in New Mexico’s State Investment Council fund. He’s right that Santa Fe doesn’t invest in the SIC fund. That’s because city policy prohibits investments […]
Better Banking, Funding
After I read Dan Metzger’s opinion piece (“Santa Fe could use a public bank,” My View, April 24), I understood why a public bank would be good for Santa Fe. I know the city often borrows money to pay for parks, roads and other public projects we citizens use and enjoy. Before reading Mr. Metzger’s […]
Banking Sense
I recently attended a meeting about starting a public bank in Santa Fe. What I learned is that it is hard to understand how a public bank works because the structure is so simple. A public bank would be owned by the city and managed by professional bankers under the authority of a public board. […]
Ten Questions (and Then Some) for Minneapolis Fed’s Neel Kashkari
MINNEAPOLIS — Neel Kashkari knows a thing or two about financial crises. As overseer of the Troubled Asset Relief Program in the Bush Treasury in 2008, he was on the front lines of the confused and somewhat improvisational government response to an abrupt meltdown of the global financial system.
In his first public speech as president of Federal Reserve Bank of Minneapolis — a post he assumed late last year — he staked out the provocative position that not enough has been done since the crisis to resolve the biggest banks or avert a similar meltdown if
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Episode: Everyone deserves a public bank
“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
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