What We Can Learn from Germany: How Countries With Publicly Owned Banks Do Better Than America
The public bank model remains a viable alternative to the private profiteering being protested on Wall Street today.
[T]he demand isn't simply to make a public bank, but is to treat the banks generally as a public utility, just as you treat electric companies as a public utility.... Just as there was pressure for a public option in health care, there should be a public option in banking. There should be a government bank that offers credit card rates without punitive 30% interest rates, without penalties, without raising the rate if you don't pay your electric bill. This ... Full Story »
Posted by Dwight Rousu
While originally born in Germany, I just learned something. While I am not sure how much the world can learn from Germany, it offers food for thought. One thing is for sure the current course of "Profit Capitalism and Loss Socialism" desperately needs correction.