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News About Public Banking
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Gubanatorial candidate Stephen Smith's West Virginia Can't Wait platform "will build a fair and sustainable economy with a state bank that keeps our wealth here and benefits our people, rather than out-of-state interests". This vision includes infrastructure development, small farm and business loans, dividends paid directly to the citizen's of the state (like Alaska's dividends) and much more.
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While U.S. advocates and local politicians struggle to get their first public banks chartered, Mexico’s new president has begun construction on 2,700 branches of a government-owned bank to be completed in 2021, when it will be the largest bank in the country. At a press conference on Jan. 6, he said the neoliberal model had failed; private banks were not serving the poor and people outside the cities, so the government had to step in.
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