Could be the proposed Municipal Bank of l . a . a good notion?

Could be the proposed Municipal Bank of l . a . a good notion?

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  • The other day, the Los Angeles City Council’s Economic developing and Jobs Committee authorized a movement meant for the Municipal Bank of l . a .. It is a bad idea.

    Supporters confuse lending with investing. A variety supports the bank of unique interest groups – but there is however no transparency. No information regarding financing for Public Bank Los Angeles – the organization advertising the idea — can be acquired.

    Work recommendations when it comes to Public Bank of l . a . are a definite red banner. Based on Public Bank Los Angeles, union help includes: the Los Angeles County Federation of work, the United Food and Commercial Workers (UFCW) Local 770 (which represents grocery and workers that are retail, and UNITE HERE neighborhood 11 (which represents employees in resort hotels, restaurants, and airports). Continue reading →