My vision for Public Umbilical Cord Stem Cell Banking

   For several years I have wanted to start a public stem cell bank for umbilical cord stem cell. It seems to me that with so many babies being born each year that this seems a wasted "resource". Most people can't afford to privately store their children's stem cells. Until I saw a similar organization on the news last year I couldn't find a single thing about public banking. Why isn't this more public knowledge and whats holding this country back from supporting this type of banking?

The short version of my idea is basically this:
All hospitals would offer to pregnant mothers the option to donate their child's umbilical cord sales. Since most people won't need these cells they would be available to those who did and for research. If later in life these families need the use of stem cells the would have top priority. If the majority of mothers donated the babies umbilical stem cells (in theory) the diversity of these cells should provide better matches for those who need them as well as an ample supply for researchers to make further advances in finding cures. Hospitals could work in association with universities.

I think this is a realistic solution to not using embryonic stem cells and a way for many families to contribute to finding cures as well as having access to those treatments.