Bank Of North Dakota: America's Only 'Socialist' Bank Is Thriving During Downturn (VIDEO)

[babsbunny]

Bank Of North Dakota: America's Only 'Socialist' Bank Is Thriving During Downturn (VIDEO)

http://www.huffingtonpost.com/2010/02/16/bank-of-north-dakotasocia_n_463522.html

(AP) The Bank of North Dakota - the nation's only state-owned bank - might seem to be a relic.

But now officials in other states are wondering if it is helping North Dakota sail through the national recession.

Gubernatorial candidates in Florida and Oregon and a Washington state legislator are advocating the creation of state-owned banks in those states. A report prepared for a Vermont House committee last month said the idea had "considerable merit." Liberal filmmaker Michael Moore promotes the bank on his Web site.

"There's a lot of hurt out there, a lot of states that are in trouble, and they're tying the Bank of North Dakota together with this economic success that we're having right now," said the bank's president, Eric Hardmeyer.

[eleny]

1. Was this the bank they talked about on Ed Schultz's radio show today?

Ed interviewed someone from the bank who said they have 4 billion in assets. Not too shabby!

[SoCalDem]

2. Ole-timey banks knew how to prosper

1. loan to people you KNOW
2. loan money to people who can pay you back
3. pay enough interest to encourage savings
4. put profits into the bank..not the pockets of the executives
5. you don't need to have the "coolest" building in town
6. treat your employees well (they're your customers too))

[Name removed]

3. Deleted message

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[Wilms]

4. k&r n/t