Chloe Eudaly Wants to Look Into A City-Owned Bank

Here’s What That Means


So Chloe (my dad is a murderer but I tend to paint myself and him as the victims of his crime when I talk about it) Eudaly wants to do something that is illegal by state law, shocking...just shocking...
That all you got, van man? When do you move on to insulting her weight?
If you're interested in learning more about a public bank for Portland, Portland Forward is hosting a speaker from the Public Banking Institute on May 6th who will be discussing next steps and educating on the topic. You can find tickets for the event here (scholarships are also available)
"Advocates suggest a public bank would be able to buy up some piece of those bonds, thereby keeping money spent on interest available for lending to local causes."

With what money would they buy a piece of those bonds, exactly? The whole point of bonds is to get a large chunk of money for immediate spending/use that you then pay back over time, because you don't have that large chunk of money just sitting around on hand...

Given how ill thought-out her rent policies have been, I don't have a lot of confidence in Eudaly for other measures.
Thank you Dirk VanderHart for this primer on Public Banks and Po'Town Commissioner Chloe Eudaly's steps to explore whether the city can get around the Oregon State Charter apparently banning a state-wide public interest Public Bank. Over the last seven years of the GREAT RECESSION and plummeting rates of Labor Market Participation accompanied by soaring rates of evictions, homeless families and workers living on SNAP food stamps due to decades of stagnant wages there has been much community-driven discussion of the Public Banking option.

Check the KBOO Community Radio archives as FIGHT THE EMPIRE and POLITICAL PERSPECTIVES public affairs programming producer-host Per Fagereng has invited Ellen Brown whose books on the history of Public Banking in the U.S. and her advocacy of same in California has done thorough cost\benefit analysis.…

David Delk of American Alliance for Democracy has organized talks by Ellen Brown and others at the First Unitarian Church as part of their Social Justice public speakers program.

Just so we remain aware of the potential problems with a Public Bank in Po'Town, a recent synopsis in YES examines how the Public Bank of North Dakota actually was bound to fund the repression of the Standing Rock Sioux protests over the Wells Fargo funded construction of the Dakota Access Pipeline (DAP).…

Sounds like a terrific opportunity for the MERCURY to sponsor a TOWN HALL MEETING with live broadcast in prime time by KBOO to benefit discussion and exploration of the PUBLIC BANK option. Co-operatives in cottage industry, family farming and retail were the result of banks refusing to lend to domestic start-ups, independent enterprise outside the sphere of control by Robber Baron investors and the Feudal Lords of Finance before, during and after the GREAT DEPRESSION. They preferred to fund Daddy Warbucks and heavy industry that was selling to all sides in both European Imperial World Wars.

Despite the Supply Side appeal for Public-Private partnerships so that investors don't have to subject themselves to MARKET FORCES and cover the costs and risks of building housing, sports stadiums and coliseums or tourist hotel districts accompanied by plenty of PR rhetoric the PRIVATE SECTOR has historically been unwilling to fund infrastructure and internal markets that all through the growth of our working middle classes after WW II with Big Government programs like the GI Bill and New Deal created the jobs.

Neo-Liberal Economic advocacy so embraced as orthodoxy by both of our political parties in the controlling Duopoly always pays for the public airwaves and PR to pressure laissez faire industrial and financial sector self-regulation or preferably de-regulation. We are back to living in a post Glass-Steagall regulatory era and the Board of Directors of Wells Fargo Wachovia (the latter fined rather than criminally prosecuted when caught by the DEA laundering Central and Latin American narco-trafficking money even before the PANAMA PAPERS leaks) acting so responsibly in maximizing their Private Profits at the Public's expense. Let's see how well the cartel of Private trans national lenders handles competition for Public Interest lending and financial services!

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Mitch Ritter\Paradigm Shifters
Lay-Low Studios, Ore-Wa
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If bees are in danger, it's because Laylow Studios Mitch has tragically taken all their buzz and converted them to buzzwords for his poorly written rants. What the hell freshman Politics 101 crap did we just read?