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Phoenix Goodman is pushing for public banking in which he says will create more money & wealth for the city. He works with Public Bank LA & says that if this happens, cities can save billions around the big banks.
Challenging the international bankers and the corrupt mega-banks is no small task. Phoenix Goodman, co-founder of the PublicBankLA movement, discusses with Chuck Carlson and members of We Hold These Truths, his group's intriguing efforts to get the City of Los Angeles to start a public bank. Los Angeles manages more than five billion dollars in annual revenue collected from tax, fee and fine payers. The city paid over $109 million in transactional and origination fees to commercial banks in 2016. In an era of consolidation, where banks have grown too-big-to-fail, any discerning city will soon run out of options of where to put its money. The PublicBankLA campaign has convinced the Los Angels City Council to put an iniative for starting a city, public bank on the ballot for voter approval. A very successful example of a public bank is the Bank of North Dakota that has been existence for almost 100 years. For articles by WHTT about public banking: Click here (32 minutes)
Today’s Special Guest: Controller for the City of Los Angeles Ron Galperin! The realities and challenges of public banking, how to get your ideas for the city on the fast track, and why changing out fax machines for computers is a perfect model for how government works...and doesn’t. Links! LA City Controller Ron Galperin Transparency: Where’s Your Money Going?? Send LA Your Audit Ideas! Public Bank LA Ground Game LA Big thank you to LA City Controller Ron Galperin and his wonderful staff for making this interview possible. A very special thank you for research assistance by Killa Choi over at Ground Game LA. And from Public Bank LA: David Jette, Ben Hauck, and Phoenix Goodman. These are wonderful grassroots organizations. You can find out more about them on our social media and in the show notes for this episode. www.schmoliticsshow.com @schmoliticsshow We knowwwww…! You’re looking for a quick and easy way to love and support us at Schmolitics? Do a quick rating/review/subscribe on Apple Podcasts! It's how we know you care. And it really supports us by making us look good, which lets us reach more people. Win. Win.
Cenk Uygur interviews Phoenix Goodman and Trinity Tran, from DivestLA and co-founders of Public Bank LA, to discuss public banking. Learn more about your ad choices. Visit megaphone.fm/adchoices