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Comment Archives: stories: Blogs

Re: “Oakland Port Board Expected to Approve Ban-The-Box and Living Wage Agreements for Massive New Warehouse Project

So basically, they're going to be given the chance to make minimum wage.

Posted by Jay78 on 09/22/2017 at 2:40 PM

Re: “Oakland to Host Forum on Public Bank Plan

Theoretically, a bank doesn't need depositors or deposits to create credit. The BND doesn't have depositors but it takes deposits from taxes to create credit.
A city bank could work like the BND and have few if any depositors or even deposits from taxes and work by creating credit to fund city development.
If the city bank will create credit but have no restriction on credit creation based on deposits, it must work with both the county and the state to determine a loan growth quota, meaning a yearly allotted amount that can be legally created to fund city development that year.
If there are no restrictions on credit creation, the bank could theoretically create a limitless amount of money when resources are limited and needed elsewhere. If every city had its own bank creating infinite money we would drive up prices for resources in limited supply, so those resources need to be allocated properly through a loan growth quota.

Posted by JJ174 on 09/22/2017 at 2:05 PM

Re: “Oakland to Host Forum on Public Bank Plan

One more thing that needs to be mentioned is governance of the bank. If it is a city public bank how much influence or control do the elected representatives of the city have over the management of the bank? If you are the CEO of the city public bank what is your relationship with the mayor of the city and its council? Can the mayor fire you and appoint someone else to run the bank if he/she feels that your decisions do not represent the will of the elected majority? Should their be more collective decision making between the mayor, the city council, and the person appointed as CEO of the bank?

Posted by JJ174 on 09/22/2017 at 12:32 PM

Re: “Oakland to Host Forum on Public Bank Plan

I think a public bank for the city needs to have city development goals like financing adequate housing needs, small businesses, and clean energy needs.

Then it needs key borrowers who are willing and can be trusted to use funds to hire the necessary people to construct the city. Those borrowers can either be representing individual private for profit interests or the public sector. Like someone can borrow money to buy private property for solar panels to make a profit on it or someone representing the public can buy land under the public sector and build panels that generate profit to fund public services of the city.

Posted by JJ174 on 09/22/2017 at 12:06 PM

Re: “Oakland to Host Forum on Public Bank Plan

An Oakland Public Bank has considerable merit, and it extends far beyond servicing the local legal cannabis industry (both medical and soon recreational). Yes there is an effort to create a state-wide public bank, but the success of that effort is far from a forgone conclusion, and in any event, the two are not mutually exclusive.

An immediate win would be the use of the bank as a depository for city fund, where the money can be used to support community needs and return interest to the City Treasury, rather than the current scheme of depositing that money in Wall St. banks that gouge the city while placing our deposits at risk via their use to fund shaky financial instruments. We know how that story ends.

Posted by Chance DG on 09/22/2017 at 11:37 AM

Re: “Oakland to Host Forum on Public Bank Plan

What needs to be done is not a study but a plan.
1) Create or find a construction plan to build the bank and determine the estimated costs of construction including the cost of purchasing financial equipment infrastructure.
2) Next, determine the estimated costs of maintaining the operation of the bank (salaries, utilities, etc.)
3) Next, determine where the bank will be constructed and how much purchasing the land will cost.
4) Next, determine how the bank will stay in business to not only make up for the costs and stay operational but generate a profit for the community. Is there a need for the services? Is their some benefit to switching their deposits to the local public bank rather than to continue what they were doing before at their private bank (Wall st or credit union)? If there is no need for lending services or if its too new and risky it's going to be a hard sell to attract depositors. The public bank needs some clear goal for what it intends to finance and how it intends to improve the community and it needs to market that to potential depositors. Are the profits that are generated going to fund the public services of the city in place of state taxes?
5) Next, determine what the current regulations are that would apply to the operation of the bank.
6) Next, the bank needs to have a plan for how it intends to avoid a high percentage of non-performing loans on its books because if it does not filter out credit worthy from non-credit worthy borrowers and does not compel performance (require collateral for capitalization) on loans by borrowers it will have a high percentage of defaults.

Will the bank be run like a state bank and have most of its deposits be from tax dollars or will it be based on depositors money? I am not aware that the city levies its own tax to place those dollars in its own bank. I believe tax dollars are levied by the federal and state governments.

Posted by JJ174 on 09/22/2017 at 11:06 AM
Posted by John Johnson on 09/21/2017 at 5:34 PM

Re: “'Lightning Rod' Developer Removed from Conference Panel Following Concerns from Oakland Mayor and Tenant Activists

Developer tool Libby Schaaf is the perfect keynote speaker for a conference on developer greed.

Posted by Hobart Johnson on 09/21/2017 at 12:10 PM

Re: “Oakland to Host Forum on Public Bank Plan

The public bank thing, whatever merit it may have (especially when a statewide public bank could be under consideration as is the case where a public bank actually works) really is nothing other than a diversion.

But that's how things in Oakland are "done."

Posted by Hobart Johnson on 09/21/2017 at 12:09 PM

Re: “Oakland to Host Forum on Public Bank Plan

More money being wasted by Oakland council. No doubt they will use the very same consultants who prepared this recent study -… - and just regurgitate the very same facts.

This issue Oakland has is not the bank who is managing the money, but rather the inefficient money management by Oakland council.

Posted by oak2sfo on 09/21/2017 at 11:50 AM

Re: “Unions and City of Oakland Remain Far Apart in Contract Talks

We are using real cost-of-living stats not a rate of inflation.

Posted by Steven Lavoie on 09/20/2017 at 5:51 PM

Re: “Vegan Donut Gelato Delivers Plant-Based Comforts

Just went there today, awesome place, wish it was closer to where I live. They should expand these throughout the bay area. I love that it's just a regular donut shop, not a bunch of fancy artsy stuff, just regular donuts. And to the commentor above all I can say is it's just a donut shop, dude, no reason to feel threatened by it.

Posted by jackb on 09/20/2017 at 5:10 PM

Re: “Oakland’s First LGBTQ Center to Open on Sept. 7

This makes me so happy!!!

Posted by Lacey C. Wilson on 09/20/2017 at 4:00 PM

Re: “Unions and City of Oakland Remain Far Apart in Contract Talks

My S/S is tied to inflation and in 2016 I got 1% adjustment, in 2017 I got 0% and for 2018 2%. So where is Felipe getting his numbers from.

Posted by Gerry Pong on 09/20/2017 at 9:32 AM

Re: “Shihlin Taiwan Street Snacks to Open in Berkeley with Giant Slabs of Fried Chicken

Lo Ba Png. Not Lou ru fan. More Taiwanese authenticity if calling it by its Taiwanese name and not Mandarin Chinese one.

Posted by KJ Cheng on 09/19/2017 at 8:40 PM

Re: “Oakland Police Report: No More Officers Will Face Discipline in Celeste Guap Police Sex Crimes Scandal

But any citizen acting in the same fashion would be prosecuted to the full extent of the law. Keep wearing your magic badge to get away with crimes regular citizens go to jail for year and year's.

Posted by Charles A Vasquez on 09/19/2017 at 11:43 AM

Re: “Vegan Donut Gelato Delivers Plant-Based Comforts

The best thing is Life is Cruelty-Free.

Posted by Kim ng on 09/19/2017 at 11:36 AM

Re: “Vegan Donut Gelato Delivers Plant-Based Comforts

Eat all the vegan donuts and gelato you need to make yourself feel more righteous. It's the sugar that produces the disease-promoting metabolic syndrome. Heart attack potential is identical vegan or non-vegan.

Posted by Hobart Johnson on 09/19/2017 at 9:29 AM

Re: “Oakland Police Report: No More Officers Will Face Discipline in Celeste Guap Police Sex Crimes Scandal

Agree with Jim Chanin on what appears to be disparate discipline culture in OPD. If you want to get rid of cover up culture (key tool to preservation of that culture is doing surface, biased, 'make it go away' investigations when the suspect or person being scrutinized is a fellow officer.) do not remedy situation with reflection and chat circles for the offenders. If you have high-ranking officers involved in a 'protect us' culture, the solution is not to promote them, either. Everything Internal Affairs did wrong with initial investigation IA has been doing wrong since before the NSA and since. The refusal to change is defiance of the NSA requirements. Maybe its time to put OPD in receivership----or require that IA be staffed with investigative personnel who are not members of OPD. Bad culture and effective career immunity is not fixed by more promises to change, tweaking internal procedures and policies. As the current OPD Chief has said....bad culture trumps good policy every time. So how about some accountability and real change, for a change.....

Posted by Mary Vail on 09/18/2017 at 6:51 PM

Re: “Report: Profound Racial Disparities in Mortgage Lending Seen in Oakland

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Posted by Raymond Hills on 09/18/2017 at 4:28 PM

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