These institutions have rigged the markets for the benefit of a select few. The only solution is to make them public utilities.
Big banks on this side of the Pacific are watching with trepidation, as developments in China’s mobile system could indicate that significant shifts will happen in the U.S.
Los Angeles voters and California legislators exploring the public bank option may be breaking not just from Wall Street but from the Federal Reserve.
The state’s stagnant funds could be put to good and much-needed work through a publicly owned bank—instead of being put at high risk through investment in public-private partnerships.