State of banks

Gwendolyn Hallsmith was fired from her position as Montpelier planning and community development director after 18 days on paid leave.

The planning director evaluates economic policies that will impact the city.

Hallsmith spent much time doing similar work as a private citizen with public banking programs and the new economy.

The City Manager claimed insubordination, but documented communications between Hallsmith, the City Manager and the Mayor call the City ManagerÕs claim into question.

Prior to her paid leave Hallsmith was told, in a memo, to cease discussion of public banking in her free time, because it did not align with the cityÕs economic policy.

The Mayor of Montpelier, John Hollar, is a registered lobbyist for big banks.

He has used his position to make his lobbying job notably easier in the past year Ð namely by silencing Hallsmith.

Aside from issues of free speech that are obviously present in this case, one only needs to look at the ways in which our current economic system prefers banks like Bank of America and TD Bank North over local alternatives, like credit unions.

Public banks can provide huge benefits to economic wellbeing for the state of Vermont.

Increased capital staying within the state would impact childrenÕs health, education, economic mobility, state services and infrastructure.

The amount of state tax money that leaves the state and goes to TD Bank is currently equal to the stateÕs annual deficit.

Despite the 2010 PeopleÕs United case on corporate personhood, corporations and their interests should not be equated with those of individual citizens.

Public banks can provide huge benefits to economic wellbeing for the state of Vermont.