The subversion of democracy
from Colorado Public Banking
The initiative to amend the Colorado constitution and create a publicly owned state bank.
On May 1st, 2013, at a rehearing requested by the Colorado Bankers Association (Don Childears) and the Independent Bankers of Colorado (Barbara M.A. Walker), the title board of the state of Colorado, which operates under the auspices of the office of the Secretary of State, found in favor of the bankers' argument that the current initiative for a publicly owned state bank contains more than a single subject, thus temporarily placing this year's drive on hold, until an appeal could be filed with, and relief granted by, the state supreme court.
In granting the bankers' motion, the title board invoked the single subject provision as an all-purpose bludgeon to suppress the initiative. Dan Domenico, who voted in favor of last year's initiative, reversed his position because of the added powers of the bank to take on multi-year obligations (bonds), in order to initially capitalize its operations, and the power of the bank to transfer moneys into the state's general fund without limitations (such as imposed by the oxymoronic TABOR amendment). Essentially, Mr. Domenico used single-subject as a mask for his personal political beliefs, denying the people of Colorado a means for expressing their collective political beliefs.
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