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Comment Archives: Stories: News & Opinion: News

Re: “Will Oakland Become First U.S. City To Ditch Wall Street And Establish A Public Bank?

The state of California could have saved tens of billions of dollars had they run their bonds and banking through a state bank when the 2008 crash happened.
Getting them to set up a bank will be near impossible as long as we let the banks buy elections.

Posted by Timothy Counts on 03/24/2017 at 2:22 PM

Re: “Will Oakland Become First U.S. City To Ditch Wall Street And Establish A Public Bank?

" .....the state threatening to take money away, and the feds threatening to take money away, and various expenses the city has that it cant afford, and to know that a public bank could solve those problems."

This says it all.

Being the custodian of the assets of others is not the same as gaining a new source of revenue. The inability to distinguish and respect the differences between the two elementary concepts (assets, revenue) has led to many financial disasters/

No doubt, the temptation to plunder a new pot of someone else's money would be irresistible. The pathetic track record of fiscal management of Oakland speaks for itself.

Oakland needs to learn how to manage its own money before it earns the right to manage other people's money. But, abusing the power over other people's money is so much easier. Anyone remember the last banking crisis and how it happened?

Posted by Michael Good on 03/24/2017 at 6:40 AM

Re: “The Old Mervyn's Headquarters in Hayward Underscores a Lack of Resources to Address the City's Homelessness Crisis

gee how the time flies, seems like just yesterday that the stores were in their heyday, but, all good things come to an end. i am sure the city will be glad to see the success of the housing project in any case. when SEARS goes, everything must follow, though.

Posted by Estella Davis on 03/23/2017 at 7:16 PM

Re: “Will Oakland Become First U.S. City To Ditch Wall Street And Establish A Public Bank?

I agree with all the commenters who have a healthy dose of skepticism. Oakland government seems financially illiterate (and also governance illiterate- like filling potholes, or inspecting buildings for fire safety, the pension crisis coming, the myriad of ways in which Oakland city government has shown its ineptitude. Then there are the ethical challenges Oakland officials have as well. I wouldn't rush in- some things just have to be sorted out prior. Why not make a requirement of Oakland city officials, at least some, to "... have strong backgrounds in finance but also be dedicated to the mission of public service. "

Posted by Jeff Diver on 03/23/2017 at 12:10 PM

Re: “Berkeley's New Progressive Majority Gets Serious About Homelessness Solutions

This really does a lot to show how out of touch the city of berkeley is with their homeless community. One visit to any of these camps and you can immediatly see that any solution to this problem must first include drug and alcohol treatment. Lets make a realistic path to end homelessness, not just build nicer homeless camps.

Posted by Robert Murphy on 03/23/2017 at 5:50 AM

Re: “Berkeley's New Progressive Majority Gets Serious About Homelessness Solutions

Thanks to Bartlett we are on a new oath. A path that is real not Rreguins pie in the sky scheme

Koncentration kamp will go empty and that's what pathways. A pathway straight to lockdown a ghetto of undesirables

Posted by Sam Spade on 03/22/2017 at 8:30 PM

Re: “Berkeley's New Progressive Majority Gets Serious About Homelessness Solutions

Who knew there were 12,000 homeless people on Berkeley's streets?

"But for a city with 10 percent of the population on the streets, tiny homes are not space efficient."

Only off by approximately an order of magnitude!

Posted by JP Massar on 03/22/2017 at 7:26 PM

Re: “Berkeley's New Progressive Majority Gets Serious About Homelessness Solutions

@ Candace

Tiny homes (usagi goya) are a consequence of over population. There are no alternatives when the land has been fully developed.

Tokyo is the Bay Area's future.

Posted by Erik Kengaard on 03/22/2017 at 7:26 PM

Re: “Berkeley's New Progressive Majority Gets Serious About Homelessness Solutions

@ Christoverre Kohler

I don't recall many homeless in Berkeley when I was a student there in the 1950s. And rent was quite affordable. $135/month split three ways for a brand new 2 bedroom apartment at Ridge and La Loma.

What the hey happened?

Posted by Erik Kengaard on 03/22/2017 at 7:23 PM

Re: “Will Oakland Become First U.S. City To Ditch Wall Street And Establish A Public Bank?

Of course Oakland leaderswon't be able to handle a public bank, just look at how they're handling our potholes!

Posted by Ellen.Gierson on 03/22/2017 at 6:54 PM

Re: “Berkeley's New Progressive Majority Gets Serious About Homelessness Solutions

Lousy idea - kennel homeless people in sheds?

Other places have been markedly succeeding with the Housing First approach, which provides people real homes like other people have. That can restore then OUT of this kind of underclass that this plan would more permanently condemn them to.

Mayor Tom Bates said Berkeley has been receiving mutli-MILLION$ of dollars EVERY YEAR ostensibly to "help the homeless". But try to find a cogent line-item budget for just HOW all that money's been spent.

There's little to no excuse for why Berkeley has NOT already been using the PROVEN "Housing First" way.

http://www.endhomelessness.org/pages/housi…

Posted by Christoverre Kohler on 03/22/2017 at 4:50 PM

Re: “Will Oakland Become First U.S. City To Ditch Wall Street And Establish A Public Bank?

I want Wall Street's role in the overall global economy to be less than it is today. It would be great to eliminate them from Oakland altogether.

However, Oakland has frequent management and corruption problems and may not be capable of managing a bank. If Wall Street isn't held accountable why would the Oakland bank be any different?

Posted by Vince Rubino on 03/22/2017 at 4:40 PM

Re: “Berkeley's New Progressive Majority Gets Serious About Homelessness Solutions

Micro pads sound like an excellent step for Berkeley. But a regional alliance could also be formed to plan for housing so that a coordinated approach can be taken.

I wonder if proponents of tiny homes are taking into account utility hookups and earthquake engineering which will require a set foundation. Adding those items in will make them as expensive as any other type of construction on a per square foot basis.

Posted by Candace Hyde-wang on 03/22/2017 at 1:36 PM

Re: “Will Oakland Become First U.S. City To Ditch Wall Street And Establish A Public Bank?

@Berkeleyhills- a credit union functions as a customer to an existing bank, and thus doesn't go outside the "Wall Street" establishment

Posted by Jason Ricca on 03/22/2017 at 6:53 AM
Posted by Berkeleyhills on 03/21/2017 at 8:55 PM

Re: “Will Oakland Become First U.S. City To Ditch Wall Street And Establish A Public Bank?

After reading Ellen Brown's book, I thought that a Bank of Oakland COULD be a good thing for Oakland's finances and thus our social and environmental foundation.

However, we need to keep in mind the history of Oakland's financial dealings and many high expectations profoundly dashed because of management incompetence and a failure of elected officials to think critically.

Thus these statements from the essay are especially relevant:

"Oakland would need to make a strong case that its got a solid business plan, and has the capital to finance it, or a good management team to execute it."

"If the bank takes on unprofitable loans intended to help the community, the riskier loans might be more prone to default and could run the bank into the ground."

"The management team chosen to run the bank will be required to have strong backgrounds in finance but also be dedicated to the mission of public service. With little precedent, these dual qualifications might be hard to find."

Finally, I have some doubts about the projected income from the cannabis industry. Right now with cannabis somewhat decriminalized and the medical pot biz maintaining high prices, selling pot may be a good business. When recreational cultivation use becomes legally less restrictive next year I wonder whether potheads will continue to pay $200 or more an ounce for a plant that is as easy to grow in a garden or a flowerpot as basil, chives or parsley.

Posted by Hobart Johnson on 03/21/2017 at 10:58 AM

Re: “Oakland Officials Question Police Partnerships with Federal Immigration Agents and FBI

Oakland needs to be clear and oppose Trump's policies on this.

Posted by Janice Albert on 03/18/2017 at 8:37 AM

Re: “Bay Area Activists Protest Peter Thiel's Partnership With Immigration and Customs Enforcement

As a wise sage from the 20th century suggested, "the media is the message". And the message here is that the media you are using is creating data that is being used for someone else's profit and, in some cases, against you and your interests. Take action and disconnect from Fakebook, Pay Pal, Amazon, iTunes, etc.

Posted by Vince Rubino on 03/15/2017 at 6:27 PM

Re: “Oakland Officials Question Police Partnerships with Federal Immigration Agents and FBI

Police are not there to interpret which laws to enforce. They're there to enforce all laws. These "People" are also draining resources from the people who are here legally.

Are we saying that it's okay to lie, cheat, and steal? Really?? That's what you tell your children, family and friends.

Posted by Robert Hope on 03/15/2017 at 3:55 PM

Re: “Oakland Officials Question Police Partnerships with Federal Immigration Agents and FBI

@margeret cunningham....."our people"...how about that homeless veteran on the corner that we give a smaller stipend than the the illegal alien gets. Illegal aliens are not "our people"

Posted by Coastrider711 on 03/15/2017 at 1:35 PM

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