I support the passage of HB 2064
"The Community Bank of Illinois Act." This bill will
create an Illinois state bank much like the Bank of
North Dakota (see http://banknd.nd.gov).
The Bank of North Dakota has been at the center of
that state's economic success (see http://tinyurl.com/YES-Magazine-NDSB).
Today, the State of Illinois deposits billions of our
tax dollars into the same “Too Big To Fail” banks that
crashed our economy. I think that we should put that
money to work for us and create jobs here in Illinois.
Illinois still has 10% unemployment, record numbers of
home foreclosures while the big banks still refuse to
lend to local business (except at outrageous rates) or
give relief to home owners while they sit on billions
of dollars of profits. The Illinois state bank is a
practical solution designed to get credit flowing to
small businesses and family farmers so they can grow,
start hiring once again. A state bank will be a ready
lender to homeowners and stop the rush to foreclose. A
state bank will also be able create affordable student
loans that will not cripple our young people with
mountains of debt upon graduation.
It's OUR money. Let's keep it in Illinois and make it
work for us. I want Illinois to create a state bank to
make this happen.
Illinois Citizens for Public Banking
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