Image by hragv via Flickr
Day: July 30, 2013
Green Light for City-owned San Francisco Bank by Ellen Brown
by Ellen Brown
Writer, Dandelion Salad
webofdebt.com
July 30, 2013
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.
Dandelion Salad 