If you are not happy with the way Wall Street operates, there is an alternative. We can create public banks to create public money for the public good. In fact, here in DC, a group has already formed to
look into creating a public bank for the city modeled after the only public bank in the U.S., the Bank of North Dakota, formed back in 1919 and going strong today.
This is going to be a very lively debate featuring Marc Armstrong (Executive Director, Public Banking Institute) and Mark Calabria (Director, Financial Regulation Studies, CATO Institute).
Mark Calabria spent 6 years as senior professional staff of the Senate Banking Committee, handling issues related to housing, mortgage finance, economics, banking, and insurance. Prior to this, he served as deputy assistant secretary for regulatory affairs at HUD and held positions at Harvard and in the private sector.
Marc Armstrong is a business development and communications consultant. He previously worked for IBM Finance with both Bank of America and Wells Fargo Wholesale Banking Divisions as primary
customers. Marc got involved in public banking after reading Ellen Brown’s book, “Web of Debt.” Marc has an MBA from the Anderson School of Business UCLA.