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I think state owned banks would be a drastic improvement to handful of old rich guys owned banks. And that's my ultimate qualm with this. I love that Sunde (and Dotcom) are entering politics more as a means to legitimacy, but in all honesty- politics is a game for the masses to shield the actual decision-making. Democracy has never worked, because the greed of the few will always win out when the authority to instigate necessary change is left up entirely to those who would lose power in the doing. Playing the game within the system wins no battles.

State owned banks make it too easy for politicians to pass laws that will enable them to do whatever they want to do.

Granted, private banks have the possibility to corrupt politicians to the same effect.

Sure! It went really good for Spain. Check https://news.ycombinator.com/item?id=6754390

Personally, I don't see a need for banks at all though. It is legalized theft and nothing more. I gave up my account at the start of the 2007 bailout and have survived just fine ever since. I have never been in debt in my life either, which I do not see as being unrelated.

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