– – The folks against a measure that would allow Los Angeles to explore a public bank that would cut out the Wall Street middleman are making some unfounded but nonetheless scary-sounding claims. – Jack Humphreville, a dogged local advocate and reporter who covers the DWP and city finances beat for the website CityWatch put out a brazen polemic against Charter Amendment B which contained some falsehoods and misrepresentations. I thought I’d retort some of the worst, for the record, and to engage in this important dialogue about the […]
Moving profit-seeking banks out of the public finance equation, and allowing the city to lend to itself, will save hundreds of millions of dollars annually in fees while lowering infrastructure spending by up to 50%.
The Counter-Counter Revolution I took a trip to Los Angeles City Hall last night because I heard a rumor that there was the start of something big going on down there. Since I have a full time job in business development (read: job creation) I couldn’t attend during the day. I was, thankfully, able to drive my $750 automobile and park it in a garage for $15.00 and make my way to the ad hoc camp that serves as the epicenter of a new wave of the ongoing populist movement in America. I expected to find a handful of stalwarts, sharing tamales and tugging on one-hitters, waiting for the next day of shallow media coverage to march and yell. What I found instead was a diverse village of individuals, mostly young, self-organizing as a spontaneous protest spurned on by a feeling of hopelessness and invisibility. But where is it going, and how is it going to get there? (There is an epic rundown below the fold.)