Bank of North Dakota was funded 90 years ago... "the Bank of North Dakota, with its $4 billion under management, has avoided the credit freeze by âcreating its own credit, leading the nation in establishing state economic sovereignty." http://www.motherjones.com/mojo/2009/03/how-nationâs-only-state-owned-bank-became-envy-wall-street "...we do have a nice returnâan NROA [return on net operating assets] of 2, a ROE [return on equity] of 25, 26 percent. "
Not sure you want to be a bank that's making money in this environment. To reward failure as we are trying to do requires one to punish success. . .
It sounds like congress needs to pass a reactive tax on their "windfall" profits. Pelosi and Reid have likely already considered this
This was a success because 90 years ago, few North Dakotans started with partisan rhetoric and they did not call it socialism or anti-capitalism. They realized their economic woes and got together to solve it.
Yes, but to compare the competency of the ND state government to a federal bureaucracy is apples and oranges.