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.
According to the 2010 Census, the racial and ethnic composition of North Dakota was as follows:
White: 90.0%
Native American: 5.4%
Hispanic or Latino (of any ethnic groups): 2.0%
Black or African American: 1.2%
Asian: 1.0%
Pacific Islander: 0.1%
Some other ethnic groups: 0.5%
Two or more ethnic groups: -0.2%
I report. You decide.
To which all I can say is Washington (state)’s government is a far cry from North Dakota’s...