***DAILY DO'S MONDAY 7AM-ISH EDITION***
Good morning Indivisibles! It's been a great week to be from Washington. From Seattle's status as a sanctuary city to AG Bob Ferguson's successful request to halt enforcement of Trump's immigration EO, our state is resisting on all cylinders: political, judicial, financial, humanitarian. One of the best pieces of news from last week had to when the Seattle City Council voted to remove $3 billion from Wells Fargo Bank, the major investor in the Dakota Access Pipeline. Divestment will happen in 2018, when the city's contract with Wells Fargo expires.
Meanwhile, the City is considering where to put our money instead. Some have suggested that the Washington State Legislature should establish a state bank like the one North Dakota. Such a bank would allow Washington to build public schools and roads without relying on Wall Street. According to David Spring from the Washington Public Bank Coalition, almost half the cost of all public schools and roads goes simply to pay off the bonds of Wall Street banks. If we loaned the money to ourselves, we could eliminate these costs, lower the cost of public projects and return money to taxpayers.
The bill to establish a public bank, Senate Bill 5464, is scheduled for a public hearing in the Senate Committee on Financial Institutions on Tuesday, February 7 2017 at 8:00 am in Olympia. Here is a link to this bill:
Please attend if you can to show your support! If you can’t, follow this link to submit comments:
Read more about public banks here:
Stay warm out there!
Katie Anthony is a writer, one of the administrators of Pantsuit Washington, and heads the Daily Do's team.
Liz Bander - writer
Angela Teater- Writer