Summary of Ellen Brown on Why We Should Own the Banks

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Ellen Brown on Why We Should Own the Banks summary
Could public ownership of the banks address the banking industry’s intrinsic flaws?

Rating

7 Overall

8 Importance

8 Innovation

6 Style

Recommendation

Financial reform advocate Ellen Brown makes a strong case for publicly owned banks, which, she reasons, are in society’s best interest. While she cites several examples of effective public banks, she doesn’t explore the inefficiencies often associated with government entities. Nevertheless, getAbstract recommends Brown’s cogent – though perhaps oversimplified – argument to bankers, policy makers and depositors interested in banking reform.

In this summary, you will learn

  • Why public ownership of banks could repair many of the banking industry’s shortcomings
  • What flaws privately owned banks exhibit
  • How many global banks have experienced success under the public ownership model
 

Summary

Today, 25% of the world’s banks, including many of the largest and safest financial institutions, are publicly owned. This model allows states to “direct the lifeblood of business” – that is, credit. Public banks are strong in nations that have pursued rapid economic development to escape poverty, such...
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About the Speaker

Ellen Brown is the founder and president of the Public Banking Institute.


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