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|BANK OF TINY NORTH DAKOTA SOARS DESPITE OIL BUST|
A blueprint for the state with the largest GDP of any state in the U.S.?
|May 04, 2016|
|By Ellen Brown |
(NATIONAL) -- In November 2014, the Wall Street Journal reported that the Bank of North Dakota (BND), the nationís only state-owned depository bank, was more profitable even than J.P. Morgan Chase and Goldman Sachs.
The author attributed this remarkable performance to the stateís oil boom; but the boom has now become an oil bust, yet the BNDís profits continue to climb. Its 2015 Annual Report, published on April 20th, boasted its most profitable year ever.
|Source BBC News bbc.co.uk|
© 2016 BBC
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