Do State-Owned Banks Violate State Constitutional Provisions? No

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Ellen Brown: The recent interest in state-owned banks has provoked challenges on grounds that they violate state constitutional prohibitions against lending the credit of the state. The argument is not valid.

California Legislature Passes Bill to Study State-Owned Bank

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Ellen Brown: California, like North Dakota, is resource-rich. A state-owned bank will allow it to capitalize on its resources to full advantage, by providing the credit needed to realize its potential.

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