Bretton Woods Monetary Institute & Festival
“The aim of the Bretton Woods Conference was the creation of a dynamic world community
in which the peoples of every nation will be able to realize their potentialities in peace.”
Henry Morgenthau, Chairman 1944 Bretton Woods Conference & United States Secretary of the Treasury.
Wall Street Journal Article, Nov. 16, 2014
“It is more profitable than Goldman Sachs Inc., has a better credit rating than J.P. Morgan Chase & Co. and hasn’t seen profit growth drop since 2003. Meet Bank of North Dakota, the U.S.’s lone state-owned bank, which has one branch, no automated teller machines and not a single investment banker. Its total assets have more than doubled, to .9 billion last year from .8 billion in 2007.
By contrast, assets of the much bigger Bank of America Corp. have grown much more slowly, to .1 trillion from .7 trillion in that period. [Bank of North Dakota’s] return on equity, a measure of profitability, is 18.56%, about 70% higher than those at Goldman Sachs and J.P. Morgan. . . . Standard & Poor’s Ratings Services last month reaffirmed its double-A-minus rating of the bank, whose deposits are guaranteed by the state of North Dakota. That is above the rating for both Goldman Sachs and J.P. Morgan and among U.S. financial institutions, second only to the Federal Home Loan Banks, rated double-A-plus.”
A fuller analysis of the article is at: http://www.publicbankinginstitute.org/bnd_outperforms_wall_street