Wednesday, September 26, 2012

Mass Banking Bill




A big shout out goes to Rep. Kay Khan, Rep. Ruth Balser and David Snieckus for introducing a bill to create a Massachusetts Bank. The only other state with their own bank is North Dakota.

The bill is in a study committee…effectively it’s dead. This is an idea worth further exploration.

My opinions…supported by FACTS ! !

Julie Farrell

3 comments:

  1. I think I understand the general purpose of this idea. It would put better regulations on public projects in an effort to eliminate corruption and poor business practices? Julie, how would you sum up this bill in your own words? Thanks for sharing.

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  2. Use this link to find out more about David Snieckus:

    https://docs.google.com/open?id=0B8LmBM1P7BYueHFVRGJVejJHZFk

    You will need to copy and paste it into a new window.

    I thought this bill was a curious bill for Rep. Kay Khan and Rep. Ruth Balser to sponsor. I think the idea of a Massachusetts Bank makes for an interesting discussion.

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  3. I would be very concerned that the state of Massachusetts would make this yet another corrupt agency. Where the good old boys go to retire in place.

    Will the bank make bad loans out of ideaology?Who covers the losses from bad loans? (I think we all know the answer to that one).

    What problem would be solved by this? The problems in the US do not stem from tight credit. A good argument could be made that easy credit and the abandonment of conservative banking rules created our current financial crisis.

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