The Follow Up to the Vetoed Bank of Los Angeles

Angelenos and the City of Los Angeles dodged a potentially fatal bullet on Tuesday, November 6, when 58% of the City’s voters said NO to Charter Amendment B, which, according a Los Angeles Times editorial, was “one of the most ill-conceived, half-baked measures to come out of City Hall in years, and that’s saying something.”

This overwhelming NO vote was despite endorsements from 170 organizations, citizens, and many elected officials, including Mayor Eric Garcetti, City Council President Herb Wesson, and eleven other members of the City Council (Cedillo, Blumenfield, Ryu, Koretz, Martinez, Rodriquez, Price, Bonin, Englander, O’Farrell, and Buscaino).

Hopefully, this will be the last we hear about the City being a lab rat for public banking.

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