Public Banks

France just announced a proposal as shockingly civilized as their superbly implemented Free National Health care for every French citizen in the NUMBER ONE rated health care system in the world – that costs half as much per person as Americans pay for health care. Public Banks. Banks that actually ARE banks. Banks that actually make loans to businesses…not trading companies who call themselves banks and speculate on corn and oil and derivatives and don’t lend money to anybody, except maybe other banks. Public Banks, chartered by the government to BE banks – and nothing else. A place where grandmas and cash-rich corporations can deposit their money in a safe government-guaranteed interest-paying banking institution, assured that their money will be used to develop the national economy. Not drive up the prices of housing and wheat and oil. Development Banks. Development Banks not for the Third World, but for France! And why not America too? The private banking system has completely failed us. We need public banks. Let ‘em call it Socialism. That’s what it is. Putting people’s jobs before corporate profits. Socialism. And we wouldn’t even be talking about this if France hadn’t just elected a Socialist president. Public Banks. How civilized.