Democratic Financing: The Case for a Public Bank in Philadelphia

Can a big city like Philadelphia have more cash on hand to address issues such as poverty, schools, and our antiquated infrastructure without raising taxes? What can the City do to combat red-lining and other cases of structural racism in our financial institutions? Is there a way for would-be entrepreneurs who are credit worthy but lack the means of acquiring credit to start their own businesses?

A number of activists in the city believe that one answer to all of these questions is the development of a public bank in Philadelphia. Over the past few years, the Philadelphia Public Banking Coalition has been spearheading this effort in City Council. On Sunday, November 15, Peter Winslow, of the Public Banking Coalition will join the members of HAZAK for our annual (non) Shabbat to help us understand what a public bank is, and where the city of Philadelphia is in the process.

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