Idea: A Municipal Bank For Philadelphia

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This Wikidelphia idea page proposes A Municipal Bank For Philadelphia.

Why Can't Philadelphia Have Its Own Bank?

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.

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