and barclays so talk a little bit about things or so just to use that example bank of north dakota is a public bank it's the only public bank in the united states and it does financing for infrastructure so it financed a water pipeline in the western part of north dakota put in fifty million dollars to fund that and let's just think about the mechanics of that what's happening is the rate of the water payers are paying for the interest on that it doesn't really matter what the interest is because whatever interest they pay goes back to the bank which is owned by the people and then that that money is recognized as profits and return to the general budget to lower taxes or to provide increase ervice is so so you end up with this closed circuit so it doesn't matter what the what the interest rate is frankly in a close circle like that because the people may pay the interest but they're going to receive it back in terms of profits so that's the no that's the. that's the value proposition me on a public bank is is that it returns the interest to the same economy in which it was paid durin

and barclays so talk a little bit about their so just to use that example bank of north dakota is a public bank it's the only public bank in the united states and it does financing for infrastructure so it financed a water pipeline in the western part of north dakota put in fifty million dollars to fund that and let's just think about the mechanics so that what's happening is the rate the water payers are paying for the interest on that it doesn't really matter what the interest is because whatever interest they pay goes back to the bank which is owned by the people and then that that money is recognized as profits and returned to the general budget to lower taxes or to provide increase ervice is so so you end up with this closed circuit so it doesn't matter what the what the interest rate is frankly in a close circle like that because the people may pay the interest but they're going to receive it back in terms of profits so that's the no that's the. that's the value proposition we on a public bank is is that it returns the interest to the same economy in which it was paid during the fina

of north dakota. >> thank you so much. during the time that i was an elected official i served on something called the industrial commission. we ran the bankdakota. what we did at the bank of north dakota is we participated on a regular basis with the small business administration to provide economic opportunity to entrepreneurs, and it pays off huge dividends for our country. it tells our country, look this is the bedrock of our economic activity. and now we have a situation in washington dc where if the federal government applied for an sba loan, they wouldn't qualify. think about that. we would not qualify for an sba loan. number one, we haven't demonstrated any amount of stability here. instead, we keep manufacturing crises, going from point to point to point and not getting things done. the same things we expecting all the small businesses to do and running in an effective manner, do the right thing by their employees, but yet we don't do that here in washington dc. it is the worlds worst example of how to run a government, and here we are. the great challenge we have today is, anytime you hear a concern or complaint, it seems like th

of north dakota heidi heitkamp. >> thank you so much. during the time that i was an elected official in north dakota i served on something called the international commission and we ran the bank of north dakota. and what we did at the bank of north dakota was we participated on a regular basis with the small business administration to provide economic opportunity for entrepreneurs. and it pays off but it pays off huge dividends for our country. it tells our country, look this is the bedrock, the bedrock of our economic activity. and now we have a situation in washington, d.c. where is the federal government applied for an sba loan, they wouldn't qualify. and about that. we would not qualify for an sba loan, number one, we haven't demonstrated any amount of stability. instead, we keep manufacturing crises, going from point to point to point and not getting things done. the same thing we expect all these small businesses to do to run their business in an efficient, effective manner do the right thing by their employees, but yet we don't do that here in washington, d.c. this is the world's worst example of how to run a government. and here we are. and the great challenge that we

counselor at the world bank thomas something honest banking is this an oxymoron no we have examples all over the place in the united states the state of north dakota has its own state bank and many of the other states are looking at that at the moment twenty two other states are looking at it and we're urging the other twenty eight states to look at it there was a bank in amsterdam that i think went on for three hundred years with no problem we know how to do banking it should be like infrastructure to support the economy it shouldn't be for the benefit of it leads to think they're above the law as we currently have if you look at the bank for international settlements that institution was a stablished when the war reparations were being exacted from germany after world war one and that's when it was started in one nine hundred thirty and the i believe it's sixty central banks that are members of the b i yes those are the culprits those are the ones that really need to go out of business now you first lou they whistle over corruption in the world bank tell us more about your revelations. well that's actually what happened i was working in the phil

north dakota, thanks for coming on this morning. much more ahead here on tdr, the daily data bank. it's now our daily data bank of numbers. plus, how the shut down strategy gets republicans in the promotion of the u.s. senate. we will break it down. republican senator warren hatch on the pape versus the gain. the party divides clearly inside this republican party these days. we have seen a lot of that. first a look ahead at the politics planner. the president has a meeting with the italian prime minister today. that's later this morning after the remarks he is going to make at about 10:30 this morning talking about restoring trust in government. of course day five in detroit. only on msnbc. [ le annncer ] le for medicare? , but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, they could save you in out-of-pocket medical costs. call today to request a free decision guide. with these types of plans, you'll be able

stress tests for bank on the agenda today but first brian sullivan is in north dakota today, home ofgood morning, brian. >> reporter: good morning. your menu there is slightly different than ours is here. we've all told the bakken story, the oil, the pipeline companies, they've all done well. we want to introduce you to some stories about how people are getting very wealthy up here. it has nothing to do with the stock market. some young guys making millions of dollars. that story ahead. they're still bullish on the bakken. revolutionizing an industry can be a tough act to follow, but at xerox we've embraced a new role. working behind the scenes to provide companies with services... like helping hr departments manage benefits and pensions for over 11 million employees. reducing document costs by up to 30%... and processing $421 billion dollars in accounts payables each year. helping thousands of companies simplify how work gets done. how's that for an encore? with xerox, you're ready for real business. >>> welcome back. i'm sharon epperson at the nynex. oil prices under pressure. lowe

of stuff. banks are stocking up on cash. atm machines. stuart: real fast before we move on, do you think this is a buying opportunity? charles: we are getting there. stuart: we have a republican from north dakotaf many people on this program that the president wants to exert maximum pain on investors. he wants a stock market selloff. would you agree with that? >> clearly, he is trying to put pressure to get his way in the negotiation. i think the longer he refuses to negotiate, the more it hurts his position. stuart: you think it is up to the president to step forward and say it is my responsibility. let's talk. let's do it now. >> absolutely. he is the leader of the country. he needs to step forward we have put a lot of ideas on the table. that is what american people want. stuart: it seems that so far the republicans are losing the pr battle. in suggestion that the tide is turning? >> that is the point i made a minute ago. we are ready to negotiate. look at all of the ideas that we have put forth. i think the more it hurts the president. he needs to join with us and come up with some real solution that addresses the challenges our country faces. stuart: if there is no debt deal, we are in de