“Ethical Markets is proud to be a supporter of the Public Banking institute and its founder, lawyer Ellen Brown, author of “Banking On People“, who also serves on our Advisory Board. I am honored to serve on the advisory board of the Public Banking Institute. We are thrilled with all this great news! Pass it on!
Hazel Henderson, Editor“
PUBLIC BANKING INSTITUTE NEWS: AUG 30, 2019
CA’s Public Banking Act clears its final committee! On to full floor votes.
The California Public Banking Act, AB857, cleared the State Senate Appropriations Committee today and heads to the floors of the Senate and Assembly for passage with amendments. Assuming it passes both houses and Gov. Gavin Newsom signs it by September 13, the state’s deadline, it will become California law.
The bill has massive public support. Dozens of advocates with the California Public Banking Alliance met with legislators at the state Capitol in Sacramento to lobby for the bill on Monday, August 26th, and U.S. Presidential candidate Bernie Sanders tweeted his endorsement yesterday.
Long Beach Mayor Robert Garcia is also on board! He said last week that he stands with the organizers of the Public Banking Act, and that if the bill becomes law, he hopes Long Beach would be the home of one of the state’s first public banks.
[read more]Truthout: “Move over Wall Street, people’s banks are coming to replace you”
In this week’s Truthout, Phoenix Goodman, co-founder of the California Public Banking Alliance, envisions what an ideal public banking system would look like:
“[W]e must formulate a type of bank that most reflects the general will of the commons, competently. … We need banks that are not only publicly owned, but accountable, democratic, local, environmentally and socially conscious, uncorrupt, competent and conducive to social good and sustainable economic growth.”
[read more]