Nation's Only State-Owned Bank is the Envy of Wall Street

The Bank of North Dakota is the only state-owned bank in the nation. It also earned record profits last year, showing that "socialized" banks can actually out-compete the likes of BofA and Wachovia. Mother Jones interviews the bank's president, who says the socialism label has "been thrown at me many times" but that now he's getting the last laugh.

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