The Red Pill

[wall_rus]

One could ask, "what alternative is there"?, if there weren't an example staring right at them.......

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As the only state-owned bank in the nation, our mission, established by legislative action in 1919, is to promote agriculture, commerce and industry in North Dakota. The Bank acts as a funding resource in partnership with other financial institutions, economic development groups and guaranty agencies. We have four established business areas: Student Loans, Lending Services, Treasury Services and Banking Services. BND’s support services and dedicated employees provide you with the best customer service. http://www.banknd.nd.gov/

February 17, 2010

The Bank of North Dakota, the nation's only state-owned bank, might seem to be a relic. It provides loans to farmers, businesses and students. The bank's president won't take credit for North Dakota's enviably low jobless rate, or the state's budget surplus. But officials in other states are wondering if it is helping North Dakota sail through the national recession.

http://www.npr.org/templates/story/story.php?storyId=123800275

LINDA WERTHEIMER, host:

Our last word in business takes us all the way back to 1919.

North Dakota's grain markets were in a terrible mess. Angry farmers wanted the state to help control the markets and provide low cost farm loans. Hence, the Bank of North Dakota was founded.

RENEE MONTAGNE, host:

To this day, it remains America's only state-run bank. It still provides loans to farmers, businesses and students, and also helps finance local projects. The bank's president won't take credit for North Dakota's enviably low jobless rate, or the state's budget surplus.

WERTHEIMER: He is getting tons, he says, of inquiries from other states wondering if this relic of populism might help steer their economies to a more sound financial future.

That's the business news on MORNING EDITION from NPR News. I'm Linda Wertheimer.

MONTAGNE: And I'm Renee Montagne.