State-owned Banks?

A growing number of people are aware of the special place of banks in our economic and political systems, and in our daily lives. In the wake of recent events, with large financial institutions’ employees, stockholders, and creditors being rescued from the painful consequences of their own errors with billions of dollars of taxpayers’ money, more of us are wondering about financial system reform. Here’s an example of a hundred year old bank that has weathered many crises and pumped tens of millions of dollars of profit back into the treasury of the state that owns it. Perhaps public ownership is superior to private profit at public expense.

Economy prompts fresh look at ND’s socialist bank