With corporate greed and corruption at an all-time high — the recent Wells Fargo scandal just one more example — public banking is our best long-term solution. It would save the city of Santa Fe millions of dollars in interest, and our funds would stay in our community to benefit the local economy instead of lining the pockets of megabank CEOs.
Contrary to what many people think, a public bank in Santa Fe would not be operated by city employees. It would be managed by a professional banking staff and board of directors independent of elected or appointed government officials. The 100-year-old public Bank of North Dakota is a stellar example of the local benefits of a public bank. With no shareholders to pay, no golden parachutes to fund, and no bank officers earning millions, Bank of North Dakota’s profits serve the people of North Dakota.
Roxanne Barber – Santa Fe
