A public bank for LA: instead of sending hundreds of millions to predatory finance, Angelenos' taxes can fund community development

I am for strong regulation of the financial sector and against usury. I prefer a cooperative approach, exemplified by credit unions in the US, over private or government-controlled banks.

Another case in point of politicians managing financial assets is the 1994 Orange County bankruptcy. You can read about it here:

http://www.ppic.org/content/pubs/op/OP_398OP.pdf

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