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The Hedge Fund Selling Oakland’s Claremont Resort Once Almost Cost Oakland...
The New York-based Paulson & Co. hedge fund announced today that they’re putting one of the Bay Area’s marquee properties, the Claremont Club, on the auction block for $80 million. Located in both...
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Oakland’s Swap Shadow Loans to Big Business
Until today most of the talk about Oakland’s onerous interest rate swap with Goldman Sachs has focused on the way that economic policy decisions made at the federal level have stuck the city in a toxic...
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The Port of Goldman Sachs
The Oakland International Container Terminal, operated by SSA. SSA is owned by Carrix, Inc., a Seattle-based corporation. Goldman Sachs owns 49 percent of Carrix. Goldman Sachs has multiple...
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Workers and Community Members Picket the Port of Oakland
Workers and community members at the gate of Terminal 59, Port of Oakland, leased by SSA (a subsidiary of Carrix, Inc.). A coalition of port workers, including members of the unions SEIU 1021 and Unite...
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The Blood of Cities: Public Finance, Debt, Accumulation
When Bill Clinton was elected in 1993 US Treasury bond yields were trading around 5 percent. Within a year prices dipped and yields shot upward of 8 percent. The bond market —meaning a relatively elite...
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Goldman Calls. Is Oakland Bluffing?
The city finds it is no easy task to fight what is arguably the world’s most powerful financial corporation A finance committee meeting of the Oakland City Council today grappled with the interest rate...
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Playing the Housing ‘Recovery’
The US Federal Reserve’s quantitative easing program has created a mismatch in interest rates, rates of return on various securities, and home prices, that has prompted big-money investors to place...
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It’s Not the Future Generations That Pay Back the Public Debt
California Watch published a very important story last month about the massive debt loads that capital appreciation bonds have heaped upon at least 400 school districts in California. Called CABs for...
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