Panic Buying and Rationing
The Covid-19 crisis has brought a rash of panic buying off market shelves. While officials and commentators try to calm the public and argue that such behavior is irrational, fear has taken over. Franklin Roosevelt’s reassuring words during his first inaugural address that, “The only thing we have to fear is fear itself,” does not […]
The Rainy Day Fund Speaks
I’m ready for my close-up, Ms. Gerwig! OK, as a budget fund without acting credits, I shouldn’t expect Greta Gerwig to put me in her next film—even if both she and I are Sacramento natives. But the time is coming—quite quickly—when I, California’s humble Rainy Day Fund, will stand at the center of our state’s […]
Bank of Los Angeles: A Pet Project That Won’t Die
In November of 2018, 56% of the City’s voters rejected Charter Amendment B that would have allowed the City to establish a municipal bank despite the measure being endorsed by 170 organizations and members of the political establishment, including Mayor Eric Garcetti and 12 members of the City Council, including then City Council President Herb […]