Liberal Democrat

Liberal Democrat
Individual Freedom For Everyone

Thursday, June 16, 2011

Proposal to Create a State Bank in Oregon: A way Non Profit Banking could work

As I've said before I'm not a socialist in any form, Democratic Socialist or Classical Socialist. Because I believe in unlimited free and fair competition thats regulated properly. That if you give people choice and let them have all the options, they'll make the best decisions for themselves. And you get that through free and open competition thats regulated properly. Not through monopoly whether its State Monopoly or Private Monopoly, because with monopoly's there's no such thing as competition of any sort, which goes without saying. Because they are a monopoly. I'm not a conservative either because even though Conservative Libertarians believe in Limited Government and that governments role is to protect Constitutional Rights for individuals, which is what liberals and libertarians also believe in. I'm a liberal because I believe in Maximize Freedom and Responsibility for the Individual and Equality of Opportunity for all individuals. But I also believe that government can play a role in insuring that there is unlimited free and open competition thats regulated properly. As well as empowering people who are down to get themselves back up, through education and Job Placement. But that government can play a role in making sure the Private Sector has enough competition to be as efficient as possible especially through Non Profits. Like in things like education and Health Care, like Public Education and Community Banking in providing competition. See I'm not a socialist who believes in nationalizing things when they don't work well or there's abuse in the system. Like company's taking advantage of their customers. But I'm also not a libertarian either, someone who believes that government should completely stay out of government. I'm a liberal and one reason why I'm a liberal is because I believe in free, fair and open competition thats regulated properly.

During the 2008 Financial Crisis that led to our "Great Recession" as well as during Wall Street Reform debate of 2010 that produced the Dodd-Frank Financial Regulatory Reform bill. There were calls from Democratic Socialists in America to nationalize the banks in America or at least the big banks. This is probably something that socialists have wanted to do in America for a long time now. But the Financial Crisis was a big opportunity for them to do that. Conservatives of course were arguing that the reason for the Financial Crisis was that government was doing too much. The actual reason for the 2008 Financial Crisis was that the Federal Government was asleep at the switch, they weren't doing their jobs. Both the Administration and Congress, hopefully the Obama Administration is awake in dealing with regulating Wall Street but we'll see. The Dodd-Frank Law is a good start but we need to go farther.
What Oregon is trying to do or what the Workers Party in Oregon is trying to accomplish and pushing there. Is creating a State Owned by Oregon State Bank that would be Non Profit. That would give oregonians another choice, again creating more competition for the Private Sector. Not taking away from it with nationalization and I hope that they succeed, because it would even be Self Financed and Self Sufficient.

What I would like to see in America is a system of Non Profit Community Banks set up by the Federal Government but where each of the Fifty States could have their own Community Banking System. As long as it meets certain Federal Standards. A Community Banking System would be State Owned banks in each State that would be Non Profit, Self Sufficient and Self Financed. Government wouldn't have to spend a dime to run these banks, because each of these Community Banks would have their own Management and Board of Directors. And these Community Banks would provide competition rather then a replacement to Private For Profit Banks. And then American People would get to decide who they do their banking with. Again unlimited free and fair competition thats regulated properly. And government could play a role in expanding it in the Banking System.

Click the link of the blog to see a video about creating a State Bank in Oregon