Could be the proposed Municipal Bank of Los Angeles an idea that is good?
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The other day, the Los Angeles City Council’s Economic developing and Jobs Committee authorized a movement to get the Municipal Bank of l . a .. It really is a poor concept.
Supporters confuse lending with investing. The lender is supported by a variety of unique interest groups – but there is no transparency. No information on financing for Public Bank Los Angeles – the organization marketing the basi concept — can be obtained.
Work recommendations for the Public Bank of l . a . really are a 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 resorts, restaurants, and airports).
One could just conclude that unions anticipate impact within the funding that is final – possibly borrowers is likely to be necessary to spend union wages. (more…)