A number 
of politicians are proposing to move their operating funds out of the nation’s biggest banks and into small community banks and credit unions which inject more money into the local economy by encouraging small business growth and job creation. But how much do states and local governments keep in the big banks? See what the Huffington Post has to say:
- When it comes to banking, state and local governments are choosing Wall Street over Main Street.
As of the third quarter of 2009 (the latest data available), state and local municipalities have a total of $230 billion socked away in the 85 national banks with assets over $10 billion, according to the FDIC. They have just a third that amount, around $78 billion, in the 6,386 banks institutions with assets under $1 billion.
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