Photo Caption: The City of London. Photo by Ed Robertson.
Apr 11, 2019.
The latest episode of It’s Our Money with Ellen Brown looks at the global picture of public banking with London expert Thomas Marois. Co-host Walt McRee describes the episode:
Global Proof of the Public Option
The success of publicly-owned banks around the world should give broad encouragement to US state and local governments looking for some financing relief on their growing debt loads. Today’s guest, Thomas Marois, a Senior Lecturer at the University of London, is an expert on the impact that public banks have on economies and societies. His study of public banks shows both the efficiencies and stability these banks provide, as well as the important role democratic participation plays in bank operations. Our lone US public bank, the Bank of North Dakota, is celebrating its first 100 years and reflects the same values and benefits as its global siblings. But its birth years were anything but stable and make a colorful story of politics, personalities and pushback from the banking industry. We take a third visit on BND’s historical trail with author and historian Mike Jacobs.