Should California start its own bank ???

The CA state treasurer, Ellen Brown, is running for CA governor, and she says the state should form its own bank:

http://dandelionsalad.wordpress.com/2014/01/15/from-austerity-to-abundance-why-i-am-running-for-california-treasurer/

Such an idea worked well in North Dakota, and undoubtedly would also work well in other states. Why let Wall Street steal our money AND charge us interest on our debt to them? Why not have our own banks and pay ourselves interest instead?

Great idea.