Idea: A Municipal Bank For Philadelphia

Why can't Philadelphia have its own bank?

Read this about public sector banking... Let's think, how can the City save money and earn money by creating its own bank?

This space will include articles and ideas to help the City of Philadelphia to move towards owning its own bank.

Public Banking Insitute

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

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/>