The Public Banking Coalition -- An Initiative of the Public Banking Institute

Any informed and honest observer recognizes that the world’s largest privately held banks are illegally gaming the system and causing serious financial harm and instability to the US and world economy and to every business, individual, and municipality that borrows money. Studies show that for every $100K borrowed for municipal bonds, $40K actually goes to the banks. These are bonds that pay for school renovations, road repairs, and other basic services everywhere across the US at every level of government.

When the banks gambles fail, they get bailed out with our tax dollars, further increasing our national debt and crippling our productive capacity. Joblessness increases, cities go bankrupt, homes are foreclosed, loans are defaulted, and basic services, such as safety, education and infrastructure are cut off. The American people suffer while banks report record profits.

In response to this problem, the Public Banking Institute is forming a coalition of nationwide grassroots organizations to further the establishment of public banks in the USA and Canada.The Public Banking Coalition will shape public dialog on how public banking can resolve the mortgage crisis, counteract the credit embargo, and fund jobs that will support middle-class tax-paying families.The Public Banking Coalition Organizing Committee is forming, with the Steering Committee to be named upon launch late this winter.

Public Banking Institute Board:

More on the Public Banking Institute here and on the PBI board here.


Staff and Organizers:


Marc Armstrong

PBC Role: Organizing the Banks, Credit Unions, and Technology Companies 

Marc Armstrong, a business development and communications consultant, is the Executive Director of the Public Banking Institute in California. With extensive experience in the software industry, he also has specific experience in providing technical consulting for nonprofits and small to medium-sized businesses. His educational background includes a MBA from the Anderson School of Business at UCLA in Information Systems and Organizational Behavior. Armstrong's professional work experience includes a series of sales, business development, and operations management positions, first with IBM Finance, and then with SAP Technical Development partners headquartered in Europe.Hometown:Sonoma, CA.

Full profile on LinkedIn



PBC Role: Operations Director

Bio forthcoming. 






PBC Role: Roadmap Owner and Instructor

Bio forthcoming.






Leah Jeannesdaughter Klerr

PBC Role: Organizing the New Economy Organizations

Leah has a passion for shifting our entire paradigm away from the current dominator/colonial/imperial model toward a cooperative/interconnected/sustainable model that finds synergy with her inclination to see larger patterns and systems and want to optimize them, and continues to find new and interesting expressions. Some resulting credentials and experiences (past and present) include: many points of engagement with the local non-profit world in Philadelphia, a certificate in Permaculture Design, using her MA in Counseling to work with foster children, serving as a Black Rock City Ranger, domestic and international travel adventures, creating interactive art installations, and a deep, abiding commitment to spiritual practice.



Rick Latham

PBC Role: Organizing Labor

 Rick Latham is a recently retired United Steelworkers Sub-District Director and was a member of the former Oil, Chemical and Atomic Workers (OCAW) International Executive Board, representing the West Coast, Alaska and Hawaii. The former OCAW is part of the Steelworkers (USW) via mergers. Originally from Anacortes, Washington, about 80 miles north of Seattle, Rick now lives in Los Angeles.