State-owned bank would put risks on taxpayers By Rep. Gene Ward

 

Arguably, one of the worst bills to be introduced and passed through the 2012 legislative process so far is a proposal to create a State of Hawaii Bank.

 

It would be owned by taxpayers and operated by the state bureaucracy and governed by elected officials. Its primary purpose, as outlined in House Bill 2103, HD2, would be to purchase toxic mortgages and foreclosures on properties in the state of Hawaii.

 

For the entire article by Rep. Gene Ward, please visit http://www.staradvertiser.com/editorialspremium/20120314_Stateowned_bank_would_put_risks_on_taxpayers.html or http://houseminority.wordpress.com/2012/03/14/state-owned-bank-would-put-risks-on-taxpayers-by-rep-gene-ward/.

 

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