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Why is a Public Bank needed in New Mexico?
Why is a Public Bank needed in New Mexico?
New Mexico Public Bank FAQs – Bob Mang, AFLEP Board Treasurer, discusses why a public bank is needed in New Mexico. He explains how a public bank could help with some of the types of loans banks are reluctant to make. September 2021
How US community banks became ‘irreplaceable’ in the pandemic
By Brendan Greeley, Financial Times – Community banks tend to have less than $10bn in assets, take deposits and hold a traditional portfolio of mortgages and business loans. Of the 5,000 lenders in the federal programme that insures deposits against bank runs, all but 500 are community banks. They are ubiquitous in rural areas and, during the first months of the coronavirus pandemic, proved their value. Small businesses and the self-employed needed loans to stay afloat, and it was often the community banks that made them.
What is proposed for a Public Bank in New Mexico?
What is proposed for a Public Bank in New Mexico?
New Mexico Public Bank FAQs – Bob Mang, AFLEP Board Treasurer, compares what is proposed for a Public Bank in New Mexico with the 100 year plus, public Bank of North Dakota. September 2021
Census: Rural New Mexico becoming more rural
By Daniel Chacón, Santa Fe New Mexican – While New Mexico grew by 58,343 people between 2010 and 2020, the influx occurred in more urban areas — at the same time more rural parts of the state saw their populations shrink, according to U.S. Census Bureau data released Thursday. The state needs to work harder to increase economic development opportunities in more rural parts of New Mexico, House Minority Leader Jim Townsend said.
Reclaiming and expanding Native foodways in New Mexico, one seed at a time
By Sam Gilbert, Santa Fe New Mexican – In the past few decades, a growing movement to promote seed-saving — the practice of keeping seeds from the current harvest to plant in subsequent harvests — has taken root in hopes of reclaiming and expanding Native foodways and crops after centuries of land loss, theft and displacement. The more we have access to healthy, local foods and seeds, the better.
We Need Public Banking
By Julian Larosa, Jacobin – The basic functions of investment are too important to be left in the hands of private banks only interested in accruing profits. We need public banks — something the Public Banking Act, introduced by Reps. Alexandria Ocasio-Cortez and Rashida Tlaib, would provide. What is public banking and why is it so scary?
Advocates Hope New Mexico Bill Offers National Model For Frontier Equity
By Noah Greenspan, The Daily Yonder – 75% of land and 24% of residents in New Mexico are considered by the USDA as part of the “frontier:” areas defined by both low population density and distance from urban centers. With fewer representatives, fewer capital outlay dollars, and fewer grant writers than large cities, frontier communities can suffer from a lack of funding. That shows up in concrete ways for residents, including less data about community needs, precarious broadband infrastructure, and long drives to the doctor or to school.
Anchorage Municipal Assembly Supports HR3339, National Infrastructure Bank
By National Infrastructure Bank Coalition, July 29, 2021 – he Anchorage Municipal Assembly has recently passed a resolution supporting HR3339 and the creation of an NIB. The resolution states in part: “WHEREAS, Alaska received a grade of C in 2017. The state has over 280 rural communities, 31 of which have no centralized water or wastewater system and rely on hauling water from near by rivers or lakes…”
North Dakota Industrial Commission authorizes Bank of North Dakota loan programs for livestock producers
By Staff, Jamestown Sun – The North Dakota Industrial Commission has approved two new Bank of North Dakota (BND) loan programs to help the state’s livestock producers cover expenses related to the extreme drought conditions in the state. Producers must work with their local lender to determine if the programs are appropriate for their situation and make application through them.
Why Shouldn’t the People Own the Banks?
By Michelle Chen, The Nation – Even as the pandemic devastated New York City, megabanks like JPMorgan Chase and Bank of America continued to do a roaring trade. And now those financial behemoths are set to manage the funds that New York City and other municipalities will be deploying for the recovery. But financial justice advocates want to see the City move its money from the Wall Street titans to a public bank, owned and operated by the people.
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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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