Thank goodness they had the sense to water down much of the original proposal, which had been championed by City Councilman Richard Alarcon and would have forced the city to stop doing business with banks that had poor lending records in L.A. Budget Chief Miguel Santana warned that such restrictions would have broken ongoing contracts and cost the city $58 million. Under the revised plan, which was approved on a 13-0 vote, the council has...
LA Biz Observed archive
Mark Lacter covered business, the economy and more here from 2006 until his death on Nov. 13, 2013.The entire LA Biz Observed archive — more than 10,000 blog posts by Mark — remains online and available.
Mark LacterMark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
The multi-talented Mark Lacter
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