From The Santa Fe New Mexican:
City moving forward with study on public bank
Posted: Tuesday, August 12, 2014 8:00 pm | Updated: 7:23 am, Wed Aug 13, 2014.
By Daniel J. Chacón
The New Mexican
The idea of creating a public bank in Santa Fe is gaining traction.
The city is seeking someone qualified to study the feasibility of establishing a publicly owned bank that would help finance public projects, provide better returns on taxpayer investments and reduce the risk of public funds in existing financial markets.
The deadline for interested parties to submit their qualifications is September, the same month that the Public Banking Institute and a citizen-led group pushing the idea will host a national symposium on the topic in Santa Fe.
“We are expecting some 900 people from across the country to see if we can pull off a public bank in Santa Fe,” Janiece Jonsin, a member of WeArePeopleHere!, which is advocating the idea, said via email.
“In New Mexico, one of the poorest states, the establishment of public banks could be a game-changer for local economies and a score in the battle against plutocracy, starting in Santa Fe,” she said.