San Francisco Should Have A Public Bank To Leverage The Power Of Its Own Money

San Francisco’s Municipal Bank Feasibility Task Force comes under pressure to provide a truly ethical and full-powered alternative — a Public Bank — in an article by Zac Townsend in the San Francisco Chronicle. He calls on the public to take a stand: “There already are indications from presentations and conversations that the task force is backpedaling from a public bank structure and instead considering half measures, such as a revolving loan fund. Such a fund — instead of a public bank — wouldn’t begin to leverage the power of San Francisco’s public funds. It would just leave them at big banks…”San Francisco has an obligation to manage public funds to prioritize environmental responsibility, fair labor practices, and affordable housing, among other principles…
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