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Letter: Worth Pursuing a State Bank

To the Editor:

As one who has been “chattering” about a Vermont State Bank, I would like to respond to the letter by Kenneth Wells (“State Bank? Learn the Facts,” Jan. 12). I am not only talking about it, I am trying to get enough signatures to have it on the Town Meeting ballot in Randolph. I would be the first to say that I am not well-informed as to financial matters. That said, I have very well-informed and respected friends who think this to be an idea well worth consideration. And that’s what putting it on the ballot does. It allows for study and consideration. If that brings forth reasons why this is not a good idea for Vermont, so be it. Given, however, my faith in the local economy, as opposed to what we have when money is invested in banks “too big to fail,” and given the excellent track record of the North Dakota State Bank, I shall continue to pursue this idea. (Incidentally, my only “agenda” is that I think there is much to be said for developing a local economy.)

Betty Edson

Randolph

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Letter: Learn the Facts About a State Bank

Monday, January 13, 2014

To the Editor: There has been increasing chatter about creating a Vermont state bank, with proponents pointing to a recent study funded by the Donella Meadows Institute. A serious study of the issue requires expertise in public finance, financial markets, banking and bank regulation. The institute study lacked any of that, and also avoided complex issues, like: ∎  An initial …