Justin Marlowe
If Washington state were to establish a public bank, what type of bank might work best? One that can provide targeted products and services to local governments across the state, says a new report by University of Washington researchers from the Evans School of Public Policy & Governance. The state's Office of Financial Management in June contracted with UW researchers to evaluate the benefits and risks of a possible state cooperative bank. Justin Marlowe , Evans professor of public policy, is co-principal investigator for the study with William Longbrake , former chief financial officer of Washington Mutual Inc. and an Evans affiliate associate professor. UW law professor Hugh Spitzer also contributed, as did Evans School associate professor Sharon Kioko and Claire Baron, a graduate student in public policy and business. The report sketches out possible models for a bank to serve cities, counties, public utility districts and state agencies, and explores them from the perspectives of Washington's constitutional and statutory framework, capitalization, funding, governance and financial and credit risk. Marlowe said the report makes no specific recommendations.
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