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

Timothy Counts: Do you have any sources and math to back that up?

And, regardless, the State of California is far more skilled at budget and spending management than Oakland. So, there is no comparison of management risk.

Posted by Michael Good on 03/24/2017 at 8:03 PM

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

I'm a California native. My grandparents and parents here came out of the dust bowl... Picked fruit and cotton in central valley when they got here... Did what they had to, to survive. Okies had to deal with sundown towns too. This what people did. I'm baffled at what goes on now. People seem willing to live in what is effectively a cave to avoid change.

Please, someone explain this to me.

Posted by Bruce Ferrell on 03/24/2017 at 7:02 PM

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

Local police departments are not obliged to enforce federal immigration laws for good reasons. One, it makes the job of keeping the community safe much harder, because witnesses to crimes who are undocumented are afraid to come forward. Many families in Oakland and around the country have mixed immigration status, by the way. Two, honoring ICE detainees is expensive, because it requires keeping people in jail beyond after they've served their time in state custody. Three, under federal immigration law, ICE detainers are requests, not orders, and local police are also not obliged to deputize their officers as immigration agents. Kate Steinle's death was a heartbreaking tragedy, no question about that, and so it's understandable that people feel passionately about it, and are dismayed that the man responsible was released by San Francisco. He should never have been transferred to SF in the first place, because of his prior deportation orders, but one bizarre tragedy should not dictate policy. In fact, studies show that immigrants as a group commit far fewer crimes than American citizens. I am speaking as an expert here; I am an immigration attorney.

Posted by Nora P on 03/24/2017 at 5:25 PM

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

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