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Government run "anything"......
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<blockquote data-quote="rickyb" data-source="post: 3723700" data-attributes="member: 56035"><p>Across Europe, more than 200 public and semi-public banks <a href="https://www.eapb.eu/our-work/publications.html" target="_blank">account for</a> roughly a fifth of all bank assets. In Germany, the Sparkassen, a network of around 400 publicly owned municipal savings banks, “[came] through the crisis with barely a scratch,” according to the <a href="https://www.economist.com/finance-and-economics/2012/11/10/old-fashioned-but-in-favour" target="_blank"><em>Economis</em></a><em>t</em>, unlike some of the country’s larger private banks. <strong>The nearly 100-year-old <a href="https://bnd.nd.gov/annual-report/" target="_blank">Bank of North Dakota</a>, which has around $7 billion in assets and a loan portfolio of $4.9 billion, is widely credited with helping the state get through the 2008 crisis with the lowest foreclosure and credit card default rates in the country,</strong> and with no bank failures for more than a decade. The bank made loans while private banks were freezing credit, all while continuing to contribute revenue to the state’s budget.</p><p></p><p><a href="http://inthesetimes.com/working/entry/21422/financial_crisis_public_banks_lehmann_borthers_2008_anniversary" target="_blank">To Stop the Next Financial Crisis, We Need Public Ownership of Banks—Now</a></p></blockquote><p></p>
[QUOTE="rickyb, post: 3723700, member: 56035"] Across Europe, more than 200 public and semi-public banks [URL='https://www.eapb.eu/our-work/publications.html']account for[/URL] roughly a fifth of all bank assets. In Germany, the Sparkassen, a network of around 400 publicly owned municipal savings banks, “[came] through the crisis with barely a scratch,” according to the [URL='https://www.economist.com/finance-and-economics/2012/11/10/old-fashioned-but-in-favour'][I]Economis[/I][/URL][I]t[/I], unlike some of the country’s larger private banks. [B]The nearly 100-year-old [URL='https://bnd.nd.gov/annual-report/']Bank of North Dakota[/URL], which has around $7 billion in assets and a loan portfolio of $4.9 billion, is widely credited with helping the state get through the 2008 crisis with the lowest foreclosure and credit card default rates in the country,[/B] and with no bank failures for more than a decade. The bank made loans while private banks were freezing credit, all while continuing to contribute revenue to the state’s budget. [URL="http://inthesetimes.com/working/entry/21422/financial_crisis_public_banks_lehmann_borthers_2008_anniversary"]To Stop the Next Financial Crisis, We Need Public Ownership of Banks—Now[/URL] [/QUOTE]
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