In the United States, there is one state, and only one state, where every single resident and business receives electricity from a community-owned institution rather than a for-profit corporation. Nebraska ... has embraced the complete socialization of energy distribution. The Nebraska Power Association proudly proclaims, Our electric prices do not include a profit. That means Nebraska's utilities can focus exclusively on keeping electric rates low and customer service high. Our customers, not big investors in New York and Chicago, own Nebraska's utilities." Nebraska has a long history of publicly owned power systems. However, in the post-World War I era, large corporate electric holding companies backed by Wall Street banks entered the market and began taking over. Tired of abusive corporate practices, in 1930 residents and advocates of publicly owned utilities took a revenue bond financing proposal straight to the voters, bypassing the corporate-influenced legislature which had previously failed to pass similar legislation. It was approved overwhelmingly. By 1949, Nebraska had solidified its status as the first and only all-public power state. Nebraska's nearly 100-year-old experience with a completely public and community-owned electricity system demonstrates that ... the principles of subsidiarity and local control can, in fact, be preserved through a networked mix of publicly owned institutions at various scales without sacrificing efficiency or service quality.