Green Light for City-owned San Francisco Bank by Ellen Brown

by Ellen Brown
Writer, Dandelion Salad
July 30, 2013

green light go 3

Image by clobby via Flickr

When the Occupiers took an interest in moving San Francisco’s money into a city-owned bank in 2011, it was chiefly on principle, in sympathy with the nationwide Move Your Money campaign.  But recent scandals have transformed the move from a political statement into a matter of protecting the city’s deposits and reducing its debt burden.  The chief roadblock to forming a municipal bank has been the concern that it was not allowed under state law, but a legal opinion  issued by Deputy City Attorney Thomas J. Owen has now overcome that obstacle.

Continue reading