FirstBankofUS

First National Bank of US – Photo Credit: Robyn Carter

During research for GoodBank™(IO), Urban Logic discovered a largely untold, cobweb of financial history describing public-owned banks, sometimes also called state-owned banks.FirstBankofUS

Publicly-owned banks play significant roles in modern economies for U.S. trading partners like China, India, Germany and Latin America.  Given the federal rescue of major and minor banks during the 2008-10 Credit Crisis partially privatizing the largest banks, we need academic research to see how publicly-owned banks moderate business cycles of expansion and contraction (boom and bust) fueled by private bank “easy credit” lending policies that pump up the value of housing and other bubble assets.

In 2010, Urban Logic created StateOwnedBanks.com to share some of its research on this topic, and to put in perspective the parallel system of banks, globally, owned or partially-owned by government as public trustee.  (Due to hackers’ mischief, we have had to restrict access to the site – if you want access to www.StateOwnedBanks.com, please email us and we will create a user name and password.)

Bruce Cahan

Bruce Cahan is CEO and co-founder of Urban Logic, a nonprofit that harnesses finance and technology to change how systems think, act and feel. He is an Ashoka Fellow, a Consulting Professor at Stanford University's Department of Civil and Environmental Engineering, and a CodeX Fellow at Stanford's Center for Legal Informatics. Bruce was trained as an international finance lawyer at Weil Gotshal & Manges in NYC (10 years) and as merchant banker at Asian Oceanic in Hong Kong (2 years). Bruce graduated The Wharton School at the University of Pennsylvania (B.S. Economics 1976) and Temple Law School (J.D. 1979), and is licensed as a lawyer in California (2006), New York (1980) and Pennsylvania (1980).

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