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Measure B: A Public Bank for Los Angeles

Measure B: A Public Bank for Los Angeles
On today’s episode of Double Down, Max Keiser and Stacy Herbert talk to artist Alex Schaefer about the public bank option with Measure B on the ballot this November 6th.

Ten years after the financial crisis saw taxpayers bailout Wall Street banks to the tune of trillions of dollars and during which time, no banker was charged with any crime for the collapse of the economy, voters in Los Angeles are about to get the chance to vote to alter the city's charter to allow for a public bank. At the moment, the city pays hundreds of millions in fees and interest to Wall Street banks when, instead, the taxpayer could be earning those interest payments, as is done in North Dakota where the public bank has been around for over a hundred years. Artist, Alex Schaefer, believes the measure could go a long way toward restoring some justice and equality to the city, especially downtown where he sees the shocking levels of homelessness as a manifestation of what is playing out in the economy. Tune in to hear more on his opinion about the role of art in an age of reckless banking.

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