In contrast,
Public Banks empower small businesses, students, homeowners, city and state governments, and community banks to prosper and thrive by banking for the common good over the long term, and making low - cost credit available where it is needed in the real economy.
I could admittedly do better, and would certainly have captured more upside from temporary speculation, had I committed myself to the principle that central
banks will act strictly to defend the bondholders of the
banks they represent, even if it means trespassing into fiscal policy, subordinating
public interest,
empowering the worst stewards of capital, violating legal restrictions, and inviting long - term instability.