Cities Could Replace Wall Street Financing With Public Banks
TED Fellow Trinity Tran argues that cities should treat financing as a local public function by creating publicly owned banks rather than relying solely on Wall Street to structure and fund municipal borrowing. Cities will still need long-term capital, she says, but public banks could keep interest and loan repayments circulating locally while allowing communities to set lending priorities around housing, infrastructure, small businesses or emergency recovery. Tran points to the Bank of North Dakota as evidence that a publicly owned lender can pursue public purposes while generating returns.
TED·Sep 4, 2026·5 min read
