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  • IF SOUTHERN CALIFORNIA CITIES START PUBLIC BANKS, TAXPAYERS SHOULD PREPARE FOR MASSIVE BAILOUTS

If Southern California cities start public banks, taxpayers should prepare for massive bailouts

OCTOBER 29, 2018 | by Marc Joffe | THE ORANGE COUNTY REGISTER

“The public banking idea seems especially relevant now, as the U.S. commemorates the tenth anniversary of the 2008 financial crisis, which was caused in part by banking shenanigans. The crisis put the country into a recession and led to Congress passing a controversial $700 billion federal bailout package … So if we can’t trust private, for-profit banks, why not give public banking a try? …”

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