LA City Hall by Austin Laser

Los Angeles City Council approves funding for Phase 1 of the public bank viability study required by AB857

In a unanimous decision on June 20th, the Los Angeles City Council made their first financial investment toward launching a public bank, voting to approve funding in the amount of $460,000 for consultant services to conduct Phase 1 of a viability study. The two-phase study will examine “policy, fiscal, and economic analyses related to the formation …

Los Angeles City Council approves funding for Phase 1 of the public bank viability study required by AB857 Read More

IOM Jesse Jones

New It’s Our Money podcast examines the enormous impact of Jesse H. Jones, the man FDR put in charge of the Reconstruction Finance Corporation

FDR’s Power Player FDR is usually given the credit for saving America and capitalism from the Great Depression, winning WWII, and launching an amazing number of infrastructure improvements that America enjoys to this day. But it wouldn’t have happened without the can-do integrity of a single Texas entrepreneur, Jesse Holman Jones. One of America’s greatest unsung …

New It’s Our Money podcast examines the enormous impact of Jesse H. Jones, the man FDR put in charge of the Reconstruction Finance Corporation Read More

War poster by Justin on Flickr

Ellen Brown’s latest articles examine the elephants in the federal debt trap room and the utility of a financial transactions tax

The Federal Debt Trap: Issues and Possible Solutions … Among other dubious payments [the Grayzone] found [in an independent audit of U.S. tax dollar allocations to Ukraine] were $4.5 million from the U.S. Social Security Administration to the Kiev government, and $4.5 billion from USAID to pay off Ukraine’s sovereign debt, “much of which is …

Ellen Brown’s latest articles examine the elephants in the federal debt trap room and the utility of a financial transactions tax Read More

NIB bill reintroduced

New bill introduced for National Infrastructure Bank; Coalition launches mobilization for cosponsors

Our friends at the Coalition for a National Infrastructure Bank are calling for an “all hands on deck” mobilization to get cosponsors for the newly reintroduced bill H.R. 4052 (formerly H.R. 3339). The new bill, introduced by Congressman Danny Davis on June 13, would create a $5 trillion National Infrastructure Bank. In his remarks to the NIB Coalition on June 15, Congressman …

New bill introduced for National Infrastructure Bank; Coalition launches mobilization for cosponsors Read More

Girl facing Wall Street bull. Photo by Robert Bye

News Roundup – July 18, 2021

Public Banking Los Angeles Moves Forward on Creation of a Public Bank | Charlotte Kramon, Governing Personal View: Public banking makes sense for Cleveland | Michael Collier and Geeta Minocha, Crain’s Cleveland Business City Council wants a study into creating a Los Angeles public bank | City News Service, Los Angeles Daily News Bank of ND shows record profits — Burgum criticizes Legislature …

News Roundup – July 18, 2021 Read More

SF MFC PB plans

San Francisco’s plans for a Municipal Finance Corporation and a Public Bank advance to the Board of Supervisors

The San Francisco Reinvestment Working Group (RWG), an advisory committee tasked with exploring the creation of a municipality-owned bank, voted May 16 to advance what the San Francisco Public Bank Coalition calls an “actionable, sustainable, and practical plan” for the first municipal public bank in the country. According to the plan, the RWG proposal would first set up …

San Francisco’s plans for a Municipal Finance Corporation and a Public Bank advance to the Board of Supervisors Read More

LA report series

Newly released report series proposes how a Los Angeles public bank could address affordable housing, governance, and underserved communities

Over the past few weeks, Jain Family Institute (JFI) and Berggruen Institute have released parts 1 – 3 of their joint report series for a Municipal Bank of LA. Part 1 speaks to the public bank’s capacity to increase affordable housing. Part 2 pioneers strategies for democratic governance of financial institutions. Part 3 explores how the public bank could build community wealth in part by helping employees …

Newly released report series proposes how a Los Angeles public bank could address affordable housing, governance, and underserved communities Read More

Banking Fair

New report details the shortcomings of the current postal banking pilot program and challenges Congress to do postal banking right

A new paper published by Save the Post Office, Take On Wall Street, and Americans for Financial Reform Education Fund takes a hard look at the real world challenges of the unbanked and how the Post Office could restart its successful historical services and provide accessible low-cost basic banking services. The report describes how the current pilot …

New report details the shortcomings of the current postal banking pilot program and challenges Congress to do postal banking right Read More

Ameya Pawar, at Vanderbilt symposium

Recent Vanderbilt symposium reflected a growing excitement for “public options” as a bulwark against corporate monopolies and consolidation

A new national effort to reclaim the importance and power of public institutions got underway at a symposium held last week at Vanderbilt University in Nashville. Entitled “Unleash the Power of Public Options”, leaders from a broad cross-section of public campaigns and organizations gathered to identify and discuss how critical public interest concerns have been …

Recent Vanderbilt symposium reflected a growing excitement for “public options” as a bulwark against corporate monopolies and consolidation Read More

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