Common good banks WILL probably want to invest in some small startup businesses that other banks view as too risky. But the common good bank idea is more about who makes those decisions than about which specific loans to grant. The loans still have to be sound and, on average, make a reliable small profit. We believe that by setting priorities at the community level and by funding things that the community has decided it wants and needs, common good bank loans can be LESS risky than ordinary banks (and less risky than loans made by a far-away state-owned bank). But of course this remains to be proven.

Whether or not we have state-owned banks, we will still need common good banks or the equivalent. Corporations influence state governments just as they influence national governments. Do we want to continue allowing a small group of multi-millionaires to make all the important decisions, for their own enrichment? Or do we want a say in what gets funded in our communities and in the wider world? Most people still choose the first. It’s time to step up to the plate, rally our friends and neighbors, and put our faith and money in common good banks, while it is still possible.

I am a very experienced managment consultant working with teams and individuals. I would offer my services for free (under suitable conditions) if it will help as you build your project teams for this valuable project. I live in Greece (which is an opportunity as well as a challenge! Do contact me if I can help.

Murray Morison