Posts Tagged: stock
A branch of Bank of America in Beverly Hills. (Photo: 4kclips, via Shutterstock)
By law, currently California cities and counties typically have one place to deposit the funds they collect from taxes, fees and fines: private commercial banks. Billions of dollars of public money are handled by commercial banks — for a fee. Despite having billions of dollars banked, municipalities have no say in how their money is used by commercial banks. Bank management, owners and stockholders set policy.
California doctor, a photo illustration. (Niyazz, via Shutterstock)
Medi-Cal is a deeply misunderstood program. It spends a lot of money, but it’s most certainly not out of control, and it is not a welfare program. The truth is that Medi-Cal is one of the state’s most cost-effective programs, serving more than one-third of Californians and half of all California children.
The New York Stock Exchange on Wall Street, New York. (Photo: Wikipedia)
The way our government accounts for public employee pension promises is nothing short of fraud, yet no public official has gone to jail or paid a price for what surely ranks among the largest muggings of citizens in US history. Let me explain. As the stock market reaches record levels, little is heard anymore from public officials who used to blame market declines for rising pension costs.