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

May 11, 2018 Staff, Publicbankinginstitute.org , ,
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…

Protesters Descend On ICE San Francisco Headquarters After Immigration Raids

March 2, 2018 Antonia Blumberg, Huffingtonpost.com , , ,
SAN FRANCISCO ― Hundreds of activists gathered on Wednesday outside the U.S. Immigration and Customs Enforcement building here to protest the arrests of more than 150 undocumented immigrants in recent days. Local activist groups organized the “emergency rally” to respond to the mass arrests in Northern California, just two weeks after more than 200 people were arrested in similar raids in the Los Angeles area. Some 200 protesters convened outside the ICE building in downtown San Francisco under an overcast sky, demanding an end to the raids. Several groups of demonstrators surrounded the building, shouting chants, marching, locking arms and carrying signs while police and ICE security looked on.

How City-Owned Public Banks Could Transform Cities

February 21, 2018 Oscar Perry Abello, Nextcity.org , , ,
It’s no surprise that Malia Cohen worries about what local public dollars are doing. As a member of the San Francisco Board of Supervisors, the municipal legislative body, it’s her job to know how, where and why the city’s money is coming in and going out. But recently, Cohen has joined a growing number of public officials around the country who are wondering what happens in between — what happens when the money in the city coffers goes to sleep at night. In fiscal year 2017, the city of San Francisco took in an average of $508 million a month in revenues and put out $467 million a month in expenses. But in between, the banks that handle all that cash sometimes used public dollars in ways that, in the opinions of Cohen and others, contradict the reasons why that money is coming and going in the first place.

SF Treasurer Announces Priorities Of Public Banking Task Force

February 7, 2018 Staff, Sftreasurer.org , ,
Treasurer José Cisneros announced today the 16 members of the Municipal Bank Feasibility Task Force. The formation of the Task Force was recommended by the Board of Supervisors to identify and pursue opportunities to extend access to credit for small businesses, provide banking services to the cannabis industry, expand capital for affordable housing, and research the viability and advisability of a municipal bank. “San Francisco has always been a leader in socially responsible banking and investment. I am eager to work with the Task Force to identify new approaches to support our City’s bold vision for inclusive innovation,” said Treasurer José Cisneros.   “My primary responsibility is to safeguard City funds, and I am confident that the Task Force will recommend solutions that also meet the stringent fiduciary and investment requirements set by state law.”

An SF City Bank Is Not Only Possible — It’s A Great Idea

January 4, 2018 Tim Redmond, 48hills.org , , ,
San Francisco faces no legal obstacles and no significant policy problems with creating a municipal bank, a recent report from the city’s budget and legislative analyst concludes. The report, released late in November with very little news media fanfare, represents a major step towards putting the city’s sizable financial resources into community development, affordable housing, and small businesses instead of the profits of giant, corrupt financial institutions. The report hinges in part on a change in the position of the City Attorney’s Office. In 2011, when then-Sup. John Avalos raised the issue, the budget analyst reported that state law would ban a municipal bank. But since then, after detailed research, City Attorney Dennis Herrera has concluded that “in fact, State law does not preclude the city from creating a bank as a separate legal entity.”

Will San Francisco Be First City With A Public Bank?

December 7, 2017 Staff, publicbankinginstitute.org , ,
By Staff of Public Banking Institute - San Francisco's Board of Supervisors released a new report last week that puts SF strongly in the running for the first city in the nation to launch a Public Bank. As the San Francisco Examiner explains, Supervisors Malia Cohen and Sandra Fewer are advancing the idea of establishing a municipal bank, which would end The City’s use of profit-driven large national commercial banks for banking services. As Wall Street financial institutions come under increasing fire for their continued stream of fraud scandals and perpetual investments in dirty fuel, Public Banks are rapidly gaining traction as an ethical and profitable solution. “Within a few years, the municipal bank should be able to generate sufficient revenue to be able to cover its costs and serve as the primary financial institution for The City,” the report said. The report also confirmed San Francisco has the legal authority to establish a Public Bank. After reviewing State codes in detail, the City Attorney’s Office concluded that “State law does not preclude the City from creating a bank as a separate entity.” In fact, “a public bank serving a public purpose would be supported by case law.” The report suggested a municipal bank could launch and make loans in the first year starting with its initial equity, and “gradually build up its assets as loans are repaid with interest and new loans are originated.”

Dockworkers Showed Labor Movement How To Shut Down Fascists

September 2, 2017 Peter Cole, www.inthesetimes.com , ,
By Peter Cole for In These Times - What role should the labor movement play in beating back the resurgence of fascism? Resistance, while a powerful concept, is far too vague. Local 10, the San Francisco Bay Area branch of the International Longshore and Warehouse Union (ILWU)—and perhaps the most radical union in the United States—demonstrates what can be done. This past week, the San Francisco Bay Area—long a center of unionism, social justice movements and radicalism—took center stage. Patriot Prayer is a right-wing organization with a demonstrated history of inciting racist violence, most obviously in Portland, Ore., while ironically asserting peaceful intentions. The far-right group declared it would rally in San Francisco on Saturday. Local 10 took a lead role in organizing counter-protests that contributed to the San Francisco event being canceled the day ahead of its scheduled event. The union’s role in this wave of popular mobilizations demands consideration. At its August 17 meeting, Local 10 passed a “Motion to Stop the Fascists in San Francisco,” which laid out members’ opposition to the rally and intention to organize.

Can Cities Create Net Neutrality? The SF Plan

April 28, 2017 Ed Lee and Mark Farrell, www.sfchronicle.com ,
By Ed Lee and Mark Farrell for The San Francisco Chronicler - The Internet is no longer a luxury available to a select few. It is an essential tool for communication, education and community-building. It should be available and affordable to all San Franciscans, regardless of where they live or their economic status. To that end, it needs to be treated as a public utility. Until the November election, the Federal Communications Commission, which regulates Internet service, agreed with this basic premise. But elections have consequences. One of those consequences was the appointment of Ajit Pai as FCC chairman. Pai and his Republican allies in Congress are moving at record speeds to roll back existing consumer protections and privacy regulations. First, Congress and the FCC collaborated to repeal broadband privacy rules. Now, Internet service providers can sell your personal data to the highest bidder. This outrageous move puts the interests of big business over those of everyday Americans. Next on the chopping block is the FCC’s 2015 landmark net neutrality ruling. Internet service providers such as Comcast and AT&T are required to provide the same service for all consumers. This equal access policy is known as net neutrality, and enshrines an “open” Internet.

San Francisco Plans Free College Education To Residents

February 13, 2017 Nanette Asimov, www.sfgate.com , , ,
By Nanette Asimov for San Francisco Chronicle - City College of San Francisco will be free of charge to all city residents under a deal announced Monday by Mayor Ed Lee and Supervisor Jane Kim that college trustees hope will lead to an enrollment jolt and more state funding for the school. Under the agreement, which is expected to take effect in the fall, the city will pay $5.4 million a year to buy out the $46-a-credit fee usually paid by students. The city’s contribution will also provide $250 a semester to full-time, low-income students who already receive a state-funded fee waiver.

Climate Scientists Protest Trump Administration In San Francisco

December 15, 2016 Sarah Emerson, www.motherboard.vice.com , , , ,
By Sarah Emerson for Motherboard - With hope, exhaustion, and a fair bit of anger, dozens of scientists and climate experts met to protest the coming Trump Administration. An estimated 26,000 scientists met today at the American Geophysical Union’s (AGU) annual conference in San Francisco, California. It was the first major gathering of climate experts since the election of Donald Trump, and the findings shared there were appropriately grim: Our planet is changing—for the worse—and nowhere is this more apparent than the Arctic where rising temperatures, disappearing sea ice, and dwindling species populations are evidence of our collective inaction.

Launching Injustice Boycott In Standing Rock, San Francisco, And NYC

December 6, 2016 Shaun King, www.medium.com , , , ,
By Shaun King for Medium - It’s an organized resistance, driven by local people and activists, supported by passionate believers all over the country and around the world. Just as the Montgomery Bus Boycott lasted for 381 days, we are prepared for this boycott to last as it takes to make change happen. Indeed, we won’t stop until it does. This boycott will not weaken, but will grow in size, strength, reach, and power every single day. We are launching Phase 1 of the Injustice Boycott Monday, and it will last until Monday, Jan. 16th, 2017 — which is also known as Martin Luther King Jr. Day in this country.

San Francisco Authorities Respond To Guerrilla Bike Lanes…

November 19, 2016 Alex Bowden, www.road.cc ,
By Alex Bowden for Road.CC - Earlier this year we reported on the San Francisco Transformation Agency (SFMTrA), a group of cyclists who have been creating mock-protected bike lines with cones as a means of pleading for better infrastructure. As often as not, this kind of campaigning appears to have little impact, but the city has reacted to several of SFMTrA’s recent interventions by making them permanent. Folsom Street has a bike lane that SFMTrA has returned to multiple times.

San Francisco Lab Launches New Era Of Glyphosate Testing In Food

November 2, 2016 Staff, www.sustainablepulse.com , , ,
By Staff of Sustainable Pulse - Anresco Laboratories in San Francisco has launched unique low detection testing program for glyphosate residues in final food products and soil samples from all over the World. The unique glyphosate testing, which uses a regulatory recognized LC/MS/MS method, is available to both NGOs and commercial companies. Anresco Laboratories, working in coordination with The Detox Project, has started a new era of transparent, accurate and affordable glyphosate testing, which enables consumers to find out the truth about the levels of glyphosate in their food.

San Francisco State University Student Hunger Strike Victory

May 13, 2016 Michael Barba, www.sfexaminer.com ,
By Michael Barba for San Francisco Examiner - Faculty and students reached a sweeping agreement Wednesday afternoon with San Francisco State University President Leslie Wong to end a hunger strike over funding for the College of Ethnic Studies, according to both sides of the deal. Four students were on a hunger strike since May 2 with a list of 10 demands for SFSU, including the investment of $8 million into the college. One of the students was reportedly hospitalized Monday night after experiencing chest pains, but later returned to SFSU where students and supporters camped for almost 10 full days.

San Francisco Protesters Against Police Brutality End Hunger Strike

May 9, 2016 Steven Rosenfeld, www.alternet.or , , , ,
By Steven Rosenfeld for AlterNet - Five San Franciscans protesting police brutality and institutional racism against the city’s Black and Brown youths ended their hunger strike after 17 days, despite City Hall rejecting their key demand to fire Police Chief Greg Suhr. “As the health of #Frisco5 grows uncertain, the whole San Francisco community took the step to demand the hunger strikers suspend their hunger strike so they can return to the front lines and help shape this movement
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