10 February 2010

A Good Start

The New Mexico legislature has just voted to move a significant portion of the state bank accounts to small community banks and credit unions:
New Mexico's House of Representatives voted Monday to pass a bill that allows the state to move $2 billion - $5 billion of state funds to credit unions and small banks.

The municipal funds bill was approved 65-0, and is subject to a vote by New Mexico's Senate. Governor Bill Richardson told the bill's sponsor that he supports the legislation.
It's a good start.

If we can defund the to big to fail institutions, they shrink, and lose influence in the corridors of power.

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