Since 1919, North Dakotans have reaped the benefits of a state bank that marshals state funds to leverage advantageous loans for small businesses, college students, farmers and the construction of vital infrastructure.
Sen. Bob Hasegawa, D-Beacon Hill, thinks a similar institution would pay big dividends for Washingtonians.
?Just about every growing industrialized country has its own public bank to finance growth,? Hasegawa said. ?All we?re doing with our current system in Washington is making bankers and bond brokers rich.?
Hasegawa?s Senate Bill 5029, heard today by the Senate Financial Institutions and Insurance Committee, would create the Washington Investment Trust ? basically a state-run bank ? initially limited to financing the construction of public infrastructure. Instead of having to take out bonds and export profits to Wall Street, bankers and brokers, the state could use the savings to build additional construction projects and put even more Washingtonians to work.
?My bill starts small, focusing on public infrastructure,? Hasegawa said. ?If we start this bank now with modest seed money, the fund will steadily compound and we would build tremendous capacity to use the interest on state funds to benefit communities across our state.?
Hasegawa noted that North Dakota?s state bank has generated revenue used to promote the development of agriculture, commerce and industry throughout the state. The state-owned Bank of North Dakota also uses the funds to provide college loans to students and families.
?North Dakota has shown this can work and has reaped economic benefits on behalf of its people for nearly a century,? Hasegawa said. ?This is a tried and tested model that can build a resource for future generations to create jobs and keep Washington dollars working in and for Washington, not Wall Street.?
st louis university mario manningham mario manningham williams syndrome hoya casa de mi padre corned beef and cabbage
কোন মন্তব্য নেই:
একটি মন্তব্য পোস্ট করুন