North Dakota weathered the 2008 financial collapse better than other states because of their state bank. You see, the North Dakota bank acts like a bank from the good old days. It loans money to build infrastructure and businesses that benefit the state at reasonable interest rates over reasonable time periods. It is not trying to be a high end profit center but is instead a source of stable capital investment. It isn’t tied to derivative gambling with Grandma’s money or over leveraging 100 to 1 like the big six banks that get bailed out by the FED and TARP (so they can continue misbehaving).
If the other states clue in and follow North Dakota, it could completely decentralize the oligarchy banking system that we currently suffer from thanks to the FED and TBTF/TBTJ policies.
Thanks Gen-X, you are very well informed and dovetail off what we learned in a conference and more. I hope Freeperdom is reading, this State Bank Movement could be big....