President Trump has stepped up his criticism of the Federal Reserve, saying of its aggressive interest rate hikes that it has “gone crazy.” The same charge has been leveled against Trump, but there may be a method to his madness . . . . October was a brutal month for the stock market. After […]
Note to Angelenos: Vote Yes on Charter Amendment B for an L.A. city-owned bank!
DISTRICT 13’s WISH LIST FOR CONGRESS
WHAT WE WANT:
OUR DEMOCRACY IS IN PERIL
THE VERY BASICS WE NEED
FOREIGN POLICY AND WAR
DISTRICT 13’s WISH LIST FOR CONGRESS
WHAT WE WANT:
OUR DEMOCRACY IS IN PERIL
THE VERY BASICS WE NEED
FOREIGN POLICY AND WAR
Wall Street owns the country. That was the opening line of a fiery speech by populist leader Mary Ellen Lease in 1890. Franklin Roosevelt said it again in a letter to Colonel House in 1933, and Sen. Dick Durbin was still saying it in 2009. “The banks – hard to believe in a time when […]
Giant Chinese tech companies have bypassed credit cards and banks to create their own low-cost digital payment systems. The US credit card system siphons off excessive amounts of money from merchants, who must raise their prices to cover this charge. In a typical $100 credit card purchase, only $97.25 goes to the seller. The rest […]
California legislators exploring the public bank option may be breaking not just from Wall Street but from the Federal Reserve. Voters in Los Angeles will be the first in the country to weigh in on a public banking mandate, after the City Council agreed on June 29th to put a measure on the November ballot […]
California has over $700 billion parked in private banks earning minimal interest, private equity funds that contributed to the affordable housing crisis, or shadow banks of the sort that caused the banking collapse of 2008. These funds, or some of them, could be transferred to an infrastructure bank that generated credit for the state – […]
The financial industry is but one of many industries in the modern world. Besides whatever their stated purposes may be, every one of their modus operandi can be “unmasked” to reveal some degree and form of wrongdoing and harm done, as I did once in a very cursory way.1
