Idea: A Municipal Bank For Philadelphia

Why can't Philadelphia have its own bank?

Check out the Public Banking Institute about public sector banking... 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.

Public Banking Insitute

A national movement to help states set up their own banks

http://www.publicbankinginstitute.org/

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
...and

See Also: Pennsylvania Public Bank Project

Public Banking Institute Calls Largest Wall Street Banks “Unsafe,” and Backs It Up

<http://wallstreetonparade.com/2013/08/public-banking-institute-calls-largest-wall-street-banks-%e2%80%9cunsafe%e2%80%9d-and-backs-it-up/>