[Occupymendocino] [Fwd: Re: Additional Information, some from our meeting in Boonville, about starting a public bank]

[agnes at mcn.org]

---------------------------- Original Message ----------------------------
Subject: Re: Additional Information, some from our meeting in
Boonville,about starting a public bank
From:    "ELLEN ROSSER" <ellen.rosser at gmail.com>
Date:    Mon, May 27, 2013 7:33 pm
To:      "agnes" <agnes at mcn.org>
--------------------------------------------------------------------------

I'll call the CA chartering office and find out.   Simpson thought it would
just cost attorney's fees.
           Peace and blessings,  Ellen


On Mon, May 27, 2013 at 3:06 PM, <agnes at mcn.org> wrote:

> Great, Ellen,
>       Would we need  one of the Supervisors to apply for a bank charter in
> case it involves money upfront, expecting it would take 6 months to
> fufill the requirements?
>
> Agnes
>
>
> > TO START A BANK
> >
> >
> >     One must get a charter from the California State Banking
> > Authority   Phone 1 800
> >
> > 622 0620   or 1 415 263 8555.
> >
> > One cannot get a charter of a failed CA bank. from FDIC.   Bill Simpson
> at
> > FDIC (1 972 744 5557)  said if you get the charter of a failed bank, you
> > also must get all its assets and liabilities.    And the First Bank of
> > Beverly Hills, Calabasas, CA.,  that died in 2009 and wasn't bought out,
> > is
> > too dead to be revived.
> >
> >       Buying a filed bank doesn't sound promising.   The only other
> option
> > is to get a new charter from the CA State Banking Authority.
> > Also, in a time of economic hardship, putting a bond issue on the ballot
> > is
> > probably not a good idea.  It probably would fail just because people
> > don't
> > want any additional costs, not because they don't want a public bank.
> >  Therefore, putting the public bank on the ballot and then funding it
> from
> > county money, such as the retirement fund, seems wisest.
> >
> >
> > Mendocino Retirement Board members with fiduciary responsibility--to
> > lobby/educate about the benefits of a public bank
> >
> >
> > 1.  John McGowan, supervisor
> >
> > 2.  Randy Goodman,  Deputy County Assessor
> >
> > 3. Tim Knudsen,  former Treasurer, elected
> >
> > 4.  Richard Schumacher,  elected by retirees
> >
> > 5.  Craig Walker,  represents sheriff and police
> >
> > 6.  Bob Murrodo    public  ?
> >
> > 7.  Ted Stevens   money manager in Yorkville
> >
> > 8.  Shari Schapmire  Chair,   Treasurer
> >
> > 9.  John Sakowicz   public citizen     SUPPORTS
> >
> >
> > Lloyd in the Auditors Office     retirement fund
> >
> >
> > Retirement Board needs 7 3/4% yield to break even.  Now gets 14 1/2%
> > uses
> > a 20-30 year model for retirement.
> >
> >  PEPRA  Public Employees Pension Regulatory Authority
> >
> > SACRS
> >
> >
> >
> >
> > SUPPORTERS OF PUBLIC BANK
> >
> >
> > Dan Hamburg, Chair, BOS
> >
> > Chad Spitler,  Black Rock
> >
> > Ben Thornby   Pacific Community Ventures
> >
> > Lauren Agnew,  United Way,  conference organizer
> >
> > Marty Lombardi,  VP Savings Bank of Mendo County
> >
> > Cooper    Credit Union
> >
>
>
>
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