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01-06-2010, 12:44 AM #1
Moving Our Money from Wall Street to Local Community Banks
Moving Our Money from Wall Street to Local Community Banks
The North Dakota Model
by Ellen Brown
Web of Debt
2010-01-03
The recent proposal to vote with our feet by shifting our deposits from Wall Street to community banks is a great start. However, community banks are not suffering from a lack of deposits so much as from a lack of the capital they need to make new loans, and investment capital today is scarce. There is a way out of this dilemma, demonstrated for over 90 years by the innovative state of North Dakota -- a partnership in which community banks are backed by the deep pockets of a state-owned bank.
Arianna Huffington just posted an article on the Huffington Post that has sparked a remarkable wave of interest, evoking nearly 5,000 comments in less than a week. Called “Move Your Money,â€
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