Idea: A Municipal Bank For Philadelphia

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This Wikidelphia idea page proposes A Municipal Bank For Philadelphia.

Why should Philadelphia Have Its Own Bank?

  • The City can save money and even earn money by creating its own bank... The bank could bring in new revenue without raising taxes!!!

Here's a GREAT two minute video about Public Banks

A little longer, but worth every second

Resources

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 transparently in the public interest.
  • Able to offset tax increases with returned credit income to the community.
  • Ready sources of credit for local governments, satisfying the need for “rainy day” funds required to promote the public interest, as defined in their charters.
  • Constitutional, as ruled by the U.S. Supreme Court.

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