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County supervisors give $75K to help plan public bank for East Bay

Original post made on Mar 22, 2022

A vision for a public bank in the East Bay -- and possibly only the second one in the country -- got a boost last week when Alameda County supervisors voted to give $75,000 to a group aiming to start one.

Read the full story here Web Link posted Monday, March 21, 2022, 4:54 PM

Comments (2)

Posted by Eileen Barr
a resident of Dublin
on Mar 22, 2022 at 11:58 am

Eileen Barr is a registered user.

Very glad to see support for a public bank in the East Bay.

Posted by judge
a resident of Birdland
on Mar 23, 2022 at 9:32 pm

judge is a registered user.

Not sure what the benefit of a public bank is.
Some questions:
How do rates differ from for profit banks and non profit credit unions?
Who funds the bank? -taxpayers?
Private bank loans backed by public bank? How does that work?

Sounds like a solution looking for a non-problem that will cost taxpayers funds that could be better used elsewhere. Not enough debate or info on this signed 2019 law. Who sponsored/benefits from these banks? Why is the government getting into the banking business?

Oh, I forgot. The shiny news ball this week/month is Ukraine. Never mind vaccine injuries/deaths, inflation, COVID suddenly a non news item coincidentally as Pfizer vaccine approval data is released, Hunter's laptop, and the rest of Brandon's policies that have left us where we are. I have to get back to reading my 1984 to make sure I know what's coming next.

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