According to a recent Op-Ed in the Seattle Times by Michael Waite, former candidate for Seattle treasurer, public banks create conflicts of interest and are a disservice to the taxpayer. Not so fast, Michael. Public banks have an excellent track record in helping states and cities finance infrastructure, among other public services.Read more
The money that is now created by banks in pursuit of their own profit either needs to be issued by governments (as has been done quite successfully in the past, going back to the American colonies) or it needs to be created by banks that are required to serve the public interest.
PBI's Santa Fe affiliate, the Brass Tax Team, uncovered information showing that Santa Fe spent $7 million in bond issuance costs and fiscal agent fees, and will pay $25 million in interest to Wall Street.
If Santa Fe had a public bank that refinanced that debt at 4 percent, its debt service costs would have been reduced by $282,425 and total debt by $52,439,584.Read more
Steven Mnuchin has a long history of coming out ahead, even in questionable deals.
“It is difficult to get a man to understand something when his salary depends on his not understanding it.” - Upton SinclairRead more
Stephen A. Schwarzman, Chairman and CEO of a hedge fund in New York City, is said to have chosen the members of Trump's Business Advisory Panel, not Trump.Read more