Yeah, because governments are SO good at taking care of other people’s money. /SARC
The stupidity is astounding...
Maybe the United Nations could do a better job? After all, look at the bang up job they did in Haiti! /s
The only one that I’m aware of is chartered in North Dakota.
Ironically it was borne out an essentially identical debacle, namely the collapse of the banking system in the 1930s.
Well, if a state bank is run like the one in North Dakota, we’d have no excitement and breathless announcements of impending bank failures on financial news channels.
The Bank of North Dakota has a Tier-1 risk-based capital ratio of over 18%.
The requirement is for 10%.
In other words, the BND is being run very conservatively, rather unlike a lot of private-sector banks.
Oh, and their non-performing loan assets as a percentage of all assets are about, oh, less than half of what many private sector banks are running these days.
FWIW, North Dakota has a State Bank. We also have a budget surplus.