Candidate Wants You to Own a Bank
Long shot candidate for governor has an idea that could get you out of debt
If Dr. Farid Khavari is Florida’s next governor you may be the proud, part owner, of the Bank of the State of Florida. Establishing a publicly-owned bank is the cornerstone of his economic recovery plan.
“In Florida and everywhere, we have Hyatt hotels, we have Hiltons," said Khavari, a Democratic challenger to succeed Gov. Charlie Crist. "We have Motel 8s, also.”
The creation of the state bank would be for the average Floridian. But how does owning a piece of a bank help you?
For example, a $100,000 loan through a private bank comes with a 5 percent interest rate, costing you about $5,000 a year.
That same loan from your state-owned bank would come with a 2 percennt rate, costing $2,000 a year.
“The money will stay in Florida, it will be returned back to the economy to benefit the people,” said Khavari. “It will not go to Wall Street.”
His plan offers 2-percent mortgages amd student loans, 3-percent auto loans and CD's that pay 6 percent.
Khavari has authored nine books, including one on oil and another on the economy.
He is opposed to off-shore drilling, supports a pathway to citizenship for illegal immigrants and is an advocate for wind and solar energy. He had a solar powered home before Hurricane Andrew destroyed it. His electric bill, he said, ran about $20 a month.
“I have been in manufacturing.I have a patent in solar energy and I came to this state for this very reason," Khavari said
A free college education is also part of his platform.
His campaign promise: "In 15 years, our problem is not going to be unemployment, home foreclosures or lack of health care coverage. Our problem will be a lot of savings.”
Not a bad problem to have.
