File photo of Bill Bradbury

PORTLAND, Ore. – At a presentation Wednesday in downtown Portland, a challenger for the 2010 Oregon Governor race called for the creation of a Bank of Oregon "to keep Oregon money in Oregon and grow Oregon-based businesses."

“It is time to declare economic sovereignty from the multi-national banks that are responsible for much of our current economic crisis," declared Democrat Bill Bradbury. "It is time to keep Oregon money here in Oregon working for Oregonians.”

Bradbury proposed a Bank of Oregon modeled after the Bank of North Dakota, which manages funds guaranteed by the state rather than the FDIC. State government agencies then would be required to deposit their funds into this bank.

Bank of Oregon would "invest Oregon money in Oregon, and utilize our money as a tool for economic development, lending money and making a profit just like any other financial institution," Bradbury said.

Bradbury comes to the governor's race with nine years as Oregon's Secretary of State. He was appointed by Governor John Kitzhaber in November 1999, and elected to two four-year terms starting November 2000. Bradbury also served 14 years in the Oregon Legislature.

• Bill Bradbury's "Energize Oregon - 8 Solutions to Getting Oregon Working Again" plan (pdf)
• Bill Bradbury's Facebook page