An Electoral Lock-Out of Political Challengers Helps Guarantee Wall Street Profits
The major political parties have effectively locked-out any serious democratic challengers to their control on creation of public policy. This week, Green Party candidate for CA Controller Laura Wells talks with Ellen Brown (herself a Green running for CA State Treasurer) about the increasingly difficult path required of challenger candidates to even get their voices heard. They discuss Governor Jerry Brown's proposed constitutionally-mandated rainy fund that would guarantee the state's commitment to pay Wall Street at the expense of its own needs, the subject of Ellen's latest article ("Robbing Main Street to Prop Up Wall Street: Why
Jerry Brown's Rainy Day Fund Is a Bad Idea for California")
On the Public Banking Report, co-host Walt McRee talks with Lauren Steiner about a new initiative underway in Los Angeles to create a public partnership bank even as a new report shows that the city pays significantly more to Wall Street for fees and interest than it does on its own needs -- to the tune of over ¾ of a billion dollars!