Support for public banks growing

Popular Resistance -A specter is haunting Wall Street: the public banking movement, which vows to replace private banks’ influence in public affairs.

This movement is gaining traction in states and cities across the U.S. as motions to advance public banking are emerging in legislative halls from California to New York. In response to this momentum, hope is growing that the first U.S. public bank in 100 years will form in the foreseeable future...

As patience for the “too-big-to-fail” banks wanes, cities and states are finally realizing they are better off doing for themselves what Wall Street perniciously insisted we’ve needed it for: providing necessary banking services to the public. Wall Street has done this with one hand while recklessly gambling, investing in environmentally destructive projects, cheating and looting with the other. Wall Street has made us forget that we have no obligation to put up with exploitation and abuse.