Bradbury proposes state bank

Bill Bradbury says he would create “Bank of Oregon” to support the local economy.

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Democratic gubernatorial candidate Bill Bradbury says Oregon should have its own state bank so taxpayer dollars will support more local businesses rather than going to big multinational banks.

The idea is part of Bradbury’s proposal to create more jobs for Oregonians if he is elected governor.

“It’s time to make Oregon’s money work for Oregonians,” Bradbury said. Small businesses are hurting because banks are squeezing off credit necessary for growth.

Oregon currently deposits hundreds of millions of dollars in a variety of banks, many of them the megabanks that wound up needing federal help to stay afloat after signing off on too many risky home mortgages. Bradbury’s proposal would create the Bank of Oregon, which would partner with local banks to make loans to small businesses, economic development projects and start-ups.

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