North Dakota Made $231.8 Million From Its State Bank. Why Isn’t Your State Doing This? Thom talks with journalist and political strategist, Christopher Armitage, about how North Dakota has owned their own bank since 1919. The bank has earned the state $231.8 million in 2025, a 17.2% return on investment. We ask ourselves why this is not happening with other states?! Also Pro-democracy states (and cities) are finally learning what red states have known all along: you don’t need federal approval to govern. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.