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Loan Modification
: Mortgage Lender Implode-o-MeterRestoring Economic Sovereignty: The Push for State-Owned Banks
By Implode-Explode Heavy Industries
``Responding to an unfilled need for credit for local government, local businesses and consumers, three states in the last month -- Oregon, Washington and Maryland -- have introduced bills for state-owned banks, joining Illinois, Virginia, Massachusetts and Hawaii... By consolidating their assets into their own state-owned banks, state and local governments can leverage their own funds to finance their own operations; and they can do this essentially interest-free, since they will own the bank and will get the interest back.''
Definitely much needed competition for the Fed and Wall Street, keeping in mind that giving the states effective power to print money and channel it to favored recipients must be closely monitored. Ultimately the people need sound money to be protected.
Full post as published by Mortgage Lender Implode-o-Meter on February 17, 2011 (boomark / email).
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