Q.      Why a state bank?
A.      It’s time for new solutions that are both tried-and-true and innovative. Our state is wealthy in both natural and human resources. There is no reason we should be begging Wall Street bankers for credit and investments. California has hit the wall relying on Wall Street!

Q.      What is a state bank?  I never heard of it.
A.      North Dakota has a state bank for more than 90 years, and now the only state with a budget surplus not a deficit. With that example, a wave of change is beginning in which  public officials and candidates are proposing state banks around the country.

Q.      How can North Dakota compare to California?
A.      They are both states, and if North Dakota (with its 650,000 people) can do it, California (with almost 40 million) can do it too. California is the 8^th largest economy in the world. Most countries, with economies of all sizes, have central banks, and control their own money supply and credit. Why not California?

Q.       Wouldn’t a State Bank for California compete with and hurt local banks and credit unions?
A.      Not at all. The State Bank would partner with local banks and credit unions, and in fact improve their ability to lend. Big banks took bailout money, and, with money left over after they paid themselves big bonuses, started buying up small banks! Local banks and businesses are the ones that build strong communities and job opportunities. A State Bank would help them.

Q.      Why don’t we just get back the rules and regulations that were taken away and rely on the big banks?
A.      Although yes, we should have good solid rules that financial institutions must abide by, the Washington politicians are more sold out now than ever before, The richest of the rich individuals and corporations make “campaign contributions”, actually low risk, high reward investments in politicians of both Titanic parties. Those boats are not taking us where we want to go.

Q.      How about student loans?
A.      Imagine a student loan program with a mission to help students get an education and graduate without huge and growing debts with rising interest rates in a slow job market. The State Bank of California would help in three ways, by investing in the schools, in the students, and in the local economy.

Q.      What are we waiting for?
A.      Candidates to propose it (which we now have - un-bought by Wall Street!); citizens to demand it; elected officials to enact it. It’s a time for new ideas!