Ellen Brown

Ellen Brown is an attorney and founder of the Public Banking Institute. She is the author of twelve books, including the best-selling Web of Debt, and her latest book, The Public Bank Solution, which explores successful public banking models historically and globally.

Articles by this author

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Sunday, April 1, 2012 - 1:35pm
Canada’s 2012 Budget: Imposing Austerity on the World’s Most Resource-rich Country
Canada, called the world’s most resource-rich country, is now being subjected to austerity measures like those imposed on third world countries in earlier decades. It is all done in the name of reducing a federal debt that got out of control in the 1970s, when Canada quit borrowing from its own central bank.
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Thursday, March 22, 2012 - 11:18am
The Shadow Bailout: How Big Banks Bilk US Towns and Taxpayers
The “toxic culture of greed” on Wall Street was highlighted again last week, when Greg Smith went public with his resignation from Goldman Sachs in a scathing oped published in the New York Times. In other recent eyebrow-raisers, LIBOR rates—the benchmark interest rates involved in interest rate swaps—were shown to be manipulated by the banks that would have
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Monday, February 27, 2012 - 8:49am
Move Our Money: New State Bank Bills Address Credit and Housing Crises
Seventeen states have now introduced bills for state-owned banks, and others are in the works. Hawaii’s innovative state bank bill addresses the foreclosure mess. County-owned banks are being proposed that would tackle the housing crisis by exercising the right of eminent domain on abandoned and foreclosed properties. Arizona has a bill that would do this for homeowners who are current in their payments but underwater, allowing them to refinance at fair market value.
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Monday, February 20, 2012 - 6:53am
How Greece Could Take Down Wall Street
In an article titled “Still No End to ‘Too Big to Fail,’” William Greider wrote in The Nation on February 15 th : Financial market cynics have assumed all along that Dodd-Frank did not end "too big to fail" but instead created a charmed circle of protected banks labeled "systemically important" that will not be allowed to fail, no matter how badly they behave.
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Sunday, February 5, 2012 - 8:13am
Why the AGs Must Not Settle: Robo-signing Is Just the Tip of the Iceberg
A foreclosure settlement between five major banks guilty of “robo-signing” and the attorneys general of the 50 states is pending for Monday, February 6th; but it is still not clear if all the AGs will sign.
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Friday, January 27, 2012 - 1:27pm
The Shadow Banking System: A Web of Financial Fraud
The Wall Street Journal reported on January 19th that the Obama Administration was pushing heavily to get the 50 state attorneys general to agree to a settlement with five major banks in the “robo-signing” scandal. The scandal involves employees signing names not their own, under titles they did not really have, attesting to the veracity of documents they had not really reviewed. Evidence reveals that it was an industry-wide practice, dating back to the late 1
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Thursday, September 15, 2011 - 10:39am
Banking for California's Future
AB 750, California’s bill to study the feasibility of establishing a state-owned bank that would receive deposits of state funds, has passed both houses of the legislature and is now on the desk of Governor Jerry Brown awaiting his signature.
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Thursday, September 1, 2011 - 7:31am
North Dakota's Economic “Miracle”—It's Not Oil
In an article in The New York Times on August 19th titled “The North Dakota Miracle,” Catherine Rampell writes:
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Tuesday, May 17, 2011 - 9:58am
What a Public Bank Could Mean for California
California is the eighth largest economy in the world, and it has a debt burden to match. The state has outstanding general obligation bonds and revenue bonds of $158 billion, largely incurred for building infrastructure. Over $7 billion of California’s annual budget goes to pay interest on the state’s debt.
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Wednesday, April 27, 2011 - 8:29am
Cheney Was Right About One Thing: Deficits Don’t Matter
“Deficit terrorists” are gutting governments and forcing the privatization of public assets, all in the name of “deficit reduction.” But deficits aren’t actually a bad thing. In today’s monetary scheme, in which most money comes from debt, debt and deficits are actually necessary to have a stable money supply. The public debt is the people’s money.
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