Steven Lesh: North Dakota Has Something To Teach Us

DFA Tucson's Steven Lesh wrote an op-ed piece for the Arizona Daily Star, published today. The article, entitled "Here's something about North Dakota worth imitating", discusses the banking crisis and what alternatives Arizona could take. North Dakota has a state-owned, public bank and currently has no state debt.

"Local and state governments have become dependent on borrowing to finance day-to-day operations and have been severely impacted by the frozen credit markets.

However, in addition to providing short-term financing, state-owned banks could supply financing for long-term investments in state resource development such as solar energy."

Steve's article is worth a read.
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