Source: New York Post
Los Angeles’ left-leaning City Council wants to explore launching a government-run bank despite the city facing a projected $100 million budget gap — drawing a blistering rebuke from one councilmember who questioned whether City Hall can handle its own finances. The council voted 11-3 Wednesday to spend $460,000 for a feasibility study on creating a city-owned bank, reviving a proposal whose funding was previously swept back into city reserves amid budget pressures. 6 Los Angeles City Hall.
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