Idea: A Municipal Bank For Philadelphia

This Wikidelphia idea page asks, Why can't Philadelphia have its own bank?

• Let's think, how can the City save money and earn money by creating its own bank?
• See the Pennsylvania Public Bank Project to connect with the people who are working on a bank for Philadelphia as well as a bank for Pennsylvania.
• Consider the Benefits For Cities and Municipalities Of a Public Bank (PDF).

Public Banks Are ...

• Viable solutions to the present economic crises in US states.
• Potentially available to any-sized government or community able to meet the requirements for setting up a bank.
• Owned by the people of a state or community.
• Economically sustainable, because they operate like private banks.
• Able to offset tax increases with returned credit income to the community.
• Ready sources of credit for local governments, eliminating the need for large “rainy day” funds.
• Required to promote the public interest, as defined in their charters.
• Constitutional, as ruled by the U.S. Supreme Court.

More

• Movement Website: Public Banking Insitute: A national movement to help states set up their own banks.
• Article: Public Banking Institute Calls Largest Wall Street Banks "Unsafe," and Backs It Up, Wall Street On Parade, August 29, 2013.