Idea: A Municipal Bank For Philadelphia

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.
• Benefits For Cities and Municipalities Of a Public 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

Public Banking Insitute: A national movement to help states set up their own banks

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/>