GREEN BANK...What does it mean?

We have heard and read recently about a proposed BILL for a government run GREEN BANK. There are a variety of opinions about it's purpose, structure and value to the objectives of Clean Energy development and Energy Independence. Some are in favor and some agree with the general idea but have a dim view of the government’s ability to manage a successful outcome.

On first reading, some, myself included, felt it demonstrated parallels to KENDALL ENERGY BONDS...if not in the structure of accumulating the funds...at least in the intent for their use.

How would you interpret this BILL?

Jack Costantino, DL, NJ-11

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Comment by Jack Costantino on April 5, 2009 at 7:49am: Luane...Don't you sleep? As you already know...this is Ellen Brown's response to the GREEN BANK question...

ELLEN HODGSON BROWN is an author with a specialty in banking and the economy.

The only hitch is, it's being financed with bonds, which means debt. Bonds will evidently be sold to the public on which interest will be paid, driving up the federal debt even further. The better alternative would be to simply create credit on the books of the bank against the projects to be created, using double-entry bookkeeping or accrual accounting. Checks could be drawn against this credit at very low interest or even zero interest to pay for workers and materials. The income from the projects would then return to repay the loans, canceling them out.

Comment by Luane Todd on April 4, 2009 at 8:31pm: Picky, picky!

Comment by Jack Costantino on April 4, 2009 at 8:02pm: Luane...it was 3 minutes...but who's counting :>)

Comment by Luane Todd on April 4, 2009 at 2:52pm: Boy, Great Minds in the same direction for a bit.

You came on about 2 minutes after I posted. Looks like we citizens need to take the lead and make some decissions about where to go next.

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