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Saturday, June 07, 2014

 11:51 AM 

Leeper calls for state-run bank

State treasurer candidate Dave Leeper called for a state-run bank that he said could finance sustainable farming, local businesses, alternative energy resources and student loans.

He noted the Bank of North Dakota, the only state-owned bank in the country, makes student loans to state residents at 1.75 percent, compared to the 6.8 percent his three children are paying for their loans.

He also said the bank makes money and has sent $300 million in surpluses to the state over the past decade.

“Banking is the engine of credit that drives our economy, and the owner of the bank controls the engine,” he said.

Leeper, whose mother was state Rep. Midge Miller and whose brother is state Sen. Mark Miller, said few people know about the state treasurer’s office and that’s the way the Koch brothers want it. He said they want an office without the power to guard or manage state funds or the elimination of the office altogether.

“If we want to stop billionaires from buying our elections and writing our laws, we have to take control of our money,” he said.

-- By JR Ross

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