When a Crisis Hits, #PublicBanks Respond Quickly (video)

Public Banking Institute video

It took Arizona three months to reach 20,000 cases of COVID19. After Governor Dour Ducey opened up the economy in early May, it took only three weeks to add another 20,000 cases. Arizona now has the WORST outbreak of COVID19 in the nation.

In addition to our state’s disregard for solid public health policies, such as a longer shelter in place directive or wearing masks in public, the state government has been shamefully slow and stingy in distribution of aid. Only 6 percent of the 16,000 Arizonans who applied for eviction relief have received it, and renters face an eviction cliff in mid-July if the Governor doesn’t act. Distribution of unemployment, pandemic unemployment, and federal aid that passes through the Governor’s office has been equally slow and minimalist. What is the point of forcing more strife onto people? Why the slow distribution of funds?

Contrast Arizona’s slow response to COVID19 to North Dakota’s response. The Bank of North Dakota — the only public bank in the US — got ahead of COVID19, reached out to local businesses, and helped them get relief. This helped the businesses and preserved jobs for North Dakotans.

Is it time for public banking in Arizona?

Cross-posted from Arizonans for a New Economy.

2 thoughts on “When a Crisis Hits, #PublicBanks Respond Quickly (video)

  1. YES! It is time for a Public Bank in AZ! Thank you, Pamela, for your stalwart, faithful representation of us–the 99%!

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