Tuesday, 18 October 2011

Publicly-owned Banks as an Instrument of Economic Development: The German Model

This article explains some of the reasoning behind the drive for a “public option” in banking.

Global Research - Centre for Research on Globalization
by Ellen Brown
Global Research, October 13, 2011

"Publicly-owned banks were instrumental in funding Germany’s “economic miracle” after the devastation of World War II.  Although the German public banks have been targeted in the last decade for takedown by their private competitors, the model remains a viable alternative to the private profiteering being protested on Wall Street today.
One of the demands voiced by protesters in the Occupy Wall Street movement is for a “public option” in banking."

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