Well the only public bank in the US has worked exceedingly well for 100 years, in North Dakota of all places. So yeah. We have one case in the US, and we’re batting a thousand.
Further, I didn’t read the specifics of the LA proposal but I’d imagine the board of the bank will be airgapped somewhat from political chicanery, and even still, what is an easier proposition- removing politicians from office, or removing the management of a major private bank?
