Another high-profile politician running for office in a powerful state takes a strong stand for creating a Public Bank. Gayle McLaughlin, former mayor of Richmond and no stranger to standing up to Wall Street, declared last week that California needs a Public Bank saying, “Our Money, Our Power!”
“A Public Bank of California would be a great way for us to use our money to invest in our communities, financing a plethora of public projects and kickstarting local businesses. And we’ll loosen Wall Street’s stranglehold on our neighbors. No more Wells Fargo selling us phony products!
“Together we can take a bigger step for California – a public bank that WILL invest in people and communities. Our massive economy is ripe for a public bank. We’ll invest in our shared priorities: affordable housing, infrastructure repair, roads, schools, and hospitals – and we’ll save money doing it! A public bank will also allow us to stand up for California’s cannabis farmers and other non-traditional industries.”