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War of the Whales


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Tag: Private Banks


Are Public Banks Unconstitutional? No. Are Private Banks? Maybe

The movement to break away from Wall Street and form publicly owned banks continues to gain momentum. But enthusiasts are deterred by claims that a state-owned bank would violate constitutional prohibitions against “lending the credit of the state.”

Posted on May 18, 2014 READ MORE



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No TARP in Iceland

Iceland’s President Olafur Grimsson, surveying the global financial mess, including the pending $112 billion bailout of Ireland’s shaky banking sector, can gloat a bit. His country, he says, is in better shape because it let private banks fail two years ago.

Posted on Nov 26, 2010 READ MORE


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