State Sen. Jan Angel’s March 3 guest commentary on the Bank of Washington State is actually an argument for why a state bank is needed. When public monies move from private to state-owned facilities, the costs and profits of privately owned banks are avoided. Public funds should be working for us, not privately owned banks. Supposed concerns about transparency and accountability are just a scare tactic. These concerns can be easily addressed in the same legislation that creates our much needed state bank.
I urge folks to contact their legislators and support the creation of the Washington State Bank to serve all publicly owned and controlled accounts. This would include all municipal, county and state monies and funds, plus any other public controlled monies, our public utility and port districts as examples.
Kent Hanson
Everett
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