Vermont Press Releases

Sanders Endorses a Vermont Public Bank Ahead of Expert Visit

News Release — People’s Commission for a Public Bank
May 4, 2017

K.C. Martel, [email protected], (802) 552-0535

Sen. Bernie Sanders took a stand on the establishment of a Vermont Public Bank on Friday at an event at the Old Labor Hall in Barre saying, “This is not a particularly radical idea, North Dakota has had one since the 1920s…. a lot of money goes through Montpelier, people pay taxes, etcetera and what we want to do is try to recycle that money back into the community, into decent jobs, protecting agriculture, protecting our environment. So rather than giving the money to Wall Street to do whatever they will do with it — which in almost every case will be a negative — I do believe that we should use that money to improve life here in the state of Vermont.”

Dr. Thomas Keidel and Gerd Weissbach, Representatives from Germany’s Sparkasse public bank network — one of the world’s oldest and most successful public bank systems — will visit Vermont and New Hampshire for a week of consultation and education with legislators and the public. The People’s Commission for a Public Bank , founded by Rep. Brian Cina, D/P-Burlington, and Banking on New Hampshire , founded by Rep. Valerie Fraser, R-New Hampton, are co-sponsoring the visit.

The visit kicks off, on Friday May 5th at 5pm, with a welcome reception in the VT State House Cafeteria. Refreshments will be served and it will be an opportunity for legislators and community members to discuss the prospect of a Vermont Public Bank with some of the world’s foremost experts on the subject.

Dr. Keidel and Mr. Weissbach will then lead a two day workshop, covering the German public banking model and envisioning with participants what a Vermont Public Bank could look like. The workshop will be held at UVM from 9am to 5pm, Saturday and Sunday. All are welcome, to please RSVP by sending an email to [email protected].

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