Public Banking Forum

The City of Oakland is planning a public forum on public banking in Hearing Room 3 of Oakland City Hall (14th and Broadway, downtown Oakland).

Presenters are:

• Marc Armstrong, member, Federal Reserve Faster Payments Task Force, co-founder and past President of the Public Banking Institute, co-founder and President of Commonomics USA;
• Jesse Arreguin, mayor of Berkeley, former Berkeley City Council member
• Tom Sgouros, author of Checking the Banks: The Nuts and Bolts of Banking for People Who Want to Fix It (2014), Senior Policy Advisor to Rhode Island Treasurer; and
• Nichoe Lichen, member of Santa Fe’s Brass Tacks Team (“public banking facts that stick”), Board Member of the Public Banking Institute; and
• Henry Wykowski, past prosecutor for the U.S. Attorney’s Office
 in Northern California, currently Harborside Health Center’s lead attorney, speaking on cannabis law as it relates to public banking.

Panel Discussion – How Do We Make This Happen?
Questions and Answers

Endorsing the Idea of Public Banks

“…a Public Bank here in California. I think it’s a good idea.”– Robert Reich, Professor of Public Policy, UC Berkeley, address to the California Democratic Convention.

“By using state deposits to finance local investments, the Public Bank will support billions of dollars of critical investments in infrastructure, small businesses, and student loans — saving our residents money and returning all profits to the taxpayers.” – Philip Murphy, leading Democratic candidate for New Jersey Governor. 

“Oakland has been raided by Wall Street for too long. Disastrous pipeline projects have been bankrolled by unaccountable banks for too long. Finance must be under democratic control for the good of our cities, towns, states, and country. Public banks are a real step in this direction.” – Hannah Appel, Professor of Economic Anthropology, UCLA, and former Oakland resident.

“Evidence from around the world suggests that public banks can be a powerful tool to support local economic development that is sustainable and inclusive.  Since giant private banks have lost the public trust for their predatory actions,   responsible city leaders must consider the option of a public municipal bank.”– Fred Block, Professor of Sociology, UC Davis. Author “Democratizing Finance”

Going Deeper

Friends of the Public Bank of Oakland: www.friendsofpublicbankofoakland.org

Commonomics: www.commonomicsusa.org

Public Banking Institute: www.publicbankinginstitute.org

Bank of North Dakota: bnd.nd.gov

(Essay) Public Banks: Bank of North Dakota: ilsr.org/rule/bank-of-north-dakota-2

(Book) The Public Bank Solution, From Austerity to Prosperity, by Ellen Brown