In a November 3rd article, Aaron Sankin discusses the widespread support for a City-Owned Bank of San Francisco.
“If Avalos knows one thing, it’s how to work a sympathetic crowd. Ringing up one applause line after another, the candidate hammered easy targets like the Wall Street bailout and tax cuts for the wealthy.
But one line in particular stood out. “San Francisco needs to look into starting its own municipal bank,” he said. “We need to stop doing banking with the very people who wrecked the economy.”
The assembled crowd, a motley assortment of union workers, mask-wearing anarchists and everyday people feeling trapped by high unemployment and a dour economy, erupted in a rapturous roar of support.
For the creation of a local government commission.
To study an obscure form of banking.”
Read the full article here: www.huffingtonpost.com/2011/11/03/municipal-bank-san-francisco_n_1074600