I was introduced to the concept of a public bank by the 2010 campaign for Governor by Green Party leader Rich Whitney. The idea of a bank serving the people – sort of like a public utility – instead if mercilessly extracting profit and bankrolling terrible businesses and accumulating massive profits for a few – was eye-opening.

I did a deep dive and, with another dedicated community organizer, Dr. Lora Chamberlain, attempted to build support for an Illinois state bank in 2011.

In 2016 I organized and published a book Chicago Is Not Broke. Funding the City We Deserve. I asked Dr. Amara Enyia, who had been a candidate for Mayor, and an advocate for public banking, to write a chapter on how a public bank would work for Chicago.

Here is that chapter:

You are welcome to download the chapter. If you do, I hope you will then purchase a hard copy of the book or read it online via ISSUU.

The latest report on public banking (2025) comes from DEMOS and the New Economy Project – “Public Banking for Racial Equity – Democratizing Finance to Build Community Wealth.”

In 2012 Chicago Magazine published six Big Ideas to make Chicago “even better” and my idea for a public bank was #5!

I think the idea of public banking is picking up steam in Chicago! In early December 2025 the flagship publication of local capitalism, Crain’s Chicago Business, published an entire section on public banking!