Tags: US | Socialist | Bank

Economy Prompts Fresh Look at ND's Socialist Bank

Tuesday, 16 Feb 2010 07:07 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

The Bank of North Dakota may seem like a relic. It has no ATMs, doesn't issue credit cards and tends only a few thousand checking and savings accounts.

Yet some wonder if the nation's only state-owned bank is helping North Dakota sail through the recession. The state has the country's lowest unemployment rate, soaring oil production and a robust budget surplus.

The bank serves as an economic development agency that lessens the loan risks of private banks and helps them finance larger projects. It offers cheap loans to farmers, students and businesses, and had almost $4 billion in assets for 2009.

Advocates include Florida and Oregon gubernatorial candidates, and a report for Vermont lawmakers says the idea has "considerable merit."

——

On the Net:

Bank of North Dakota: http://www.banknd.nd.gov/

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Financial Expert to Investors: Be Careful, You're in a Minefield

Wednesday, 23 Apr 2014 19:38 PM

Investors should be cautious as they try to navigate the current economic minefield, one financial expert says. David Sc . . .

Report: 44,000 Voters Registered in Both Maryland and Virginia

Wednesday, 23 Apr 2014 18:17 PM

A Virginia group organized to combat election fraud says a check of voter rolls in Maryland and Virginia shows there are . . .

Soldier Killed Unarmed Iraqi Boys for No Reason, Hearing Told

Wednesday, 23 Apr 2014 18:13 PM

The two unarmed Iraqi brothers posed no threat as they herded cattle in a grove where a U.S. Army reconnaissance team wa . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved