Los Angeles Owes Billions in Pension Debts. Now It’s Asking Citizens for Permission to Run a Bank.

How inept is the Los Angeles City Council when it comes to economics? Well, it cartelized L.A.’s commercial and apartment building trash pick-up, completely and deliberately destroying competition in the process. To the surprise of no one but city council, prices skyrocketed and service declined.

Source: Los Angeles Owes Billions in Pension Debts. Now It’s Asking Citizens for Permission to Run a Bank.