Reconstruction Finance Corporation Archived Message Posted by mike on February 12, 2019, 10:34 pm, in reply to "Guardian article on AOC s Green Deal " “In the 1930s and 1940s, the Reconstruction Finance Corporation was America’s largest corporation and the world’s largest banking organization. It was a remarkable credit machine that allowed the government to fund the New Deal and World War II without turning to Congress or the taxpayers for appropriations. It generated massive infrastructure and development all across the country, while returning a profit to the government. Yet this stellar model for what might be done is rarely mentioned in the media today. The RFC was America’s largest corporation and the world’s biggest banking organization –yet it is virtually unknown today. Why? Perhaps it is kept out of the limelight by the media (which have interlocking directorships with large banks) because it showed what could be done with a public lending institution. It broke the private banking monopoly. Private bankers did not own it, had no control over it, and could not extract profits from it. In a mere seven year period, when the economy was at its lowest ebb ever, the government funded the remarkable achievements of the New Deal and World War II by circumventing the banks and using its own public financial institution. The RFC set a formidable precedent, one that private banking interests had good reason to suppress when they later recaptured the lending market and the media.” ~ Ellen Brown: ‘From Austerity to Prosperity - The Public Bank Solution.’ Message Thread: Guardian article on AOC s Green Deal - Edgar G Ulmer February 12, 2019, 10:14 pm Reconstruction Finance Corporation - mike February 12, 2019, 10:34 pm Can public, non-commercial banks - which I very much support - negate the effects of the - Rhisiart Gwilym February 13, 2019, 8:00 am Maybe I am dumb .. - Shyaku February 14, 2019, 1:50 pm Obviously I agree with all that, Shy. But - er - you still need energy, metals, etc. to do it. Even - Rhisiart Gwilym February 15, 2019, 6:32 pm A better Guardian article on AOC s Green Deal - Edgar G February 13, 2019, 8:51 pm   Searching