Governor Jerry Brown, yesterday, decided that the feasibility of a state bank in California is not even worth the effort, as he vetoed AB 750; a bill that would create a task force charged with determining the possibility of state banking in California. This is truly unfortunate given the exponential success (throughout the global economic depression) of the State Bank of North Dakota. Instead, Governor Brown will continue to rely on austerity; an economic model already deemed unfit for the task with respects to recovery. (Just look at the Schwarzenegger Administration for example) One must question the motives behind such a decision given the outline and objective of the bill. It cannot be argued on grounds of any fiscal impact, as there were none. The objective of determining an alternative economic model over the current fiscal policies of California is most crucial, especially with unemployment in the double digits and budget deficits that will continue to plague our Golden State.
Posts Tagged ‘Jerry Brown Vetoes State Banking Feasibility Bill’
Legislation, Politcs & Economy, Uncategorized on September 27, 2011 at 10:12 am